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Residential Finance Survey: 2001 - United States
Table 4-3a. Mortgage Insurance Status, 1-Housing-Unit Rental and Vacant Mortgaged Properties
^Number of mortgaged properties in thousands. For information on confidentiality protection, sampling error, non-
sampling error, and definitions, see text. For minimum base of derived figures (percent, median, etc.) and meaning
of symbols, see text. @4Includes first mortgages that are insured by state and local governments with or without FHA
insurance, VA, or Rural Housing Service/Rural Development guarantees. Monthly Rental Receipts, Rental Receipts as
Percent of Value, Rental Vacancy Losses as Percent of Potential Receipts, Interest and Principal Payments on First
Mortgage as Percent of Rental Receipts and Real Estate Tax as Percent of Rental Receipts acquired before 2000 exclude
properties with less than half of units in rental market during all of year preceding survey and cooperatively owned
apartments^^
Properties with government-insured
or guaranteed first mortgage
Total
mortgaged
properties
FHA
first mortgage
VA
first mortgage
Rural Housing Service-
Rural Development
first mortgage
Other
insured or guaranteed
properties@4
Properties with
privately-insured
first mortgage
Not insured

1-housing-unit properties with
traditional first mortgage
4129 359 73 91 166 451 2989

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
3259 288 66 53 101 394 2357
In central cities 1293 126 24 25 42 124 953
Not in central cities 1966 163 42 28 59 270 1404
Outside MAs 870 71 7 39 65 57 632

Manner of Acquisition

By purchase
3799 335 73 85 143 430 2733
Placed one new mortgage 3373 290 41 85 138 382 2437
Placed two or more new mortgages 73 6 0 0 0 16 50
Assumed mortgage(s) already on property 267 28 32 0 5 18 184
Assumed mortgage(s) already on property
and placed new mortgage
7 0 0 0 0 0 7
Borrowed using assets other than this
property as collateral
25 0 0 0 0 7 17
Paid all cash-no borrowing 32 11 0 0 0 0 21
Other manner 23 0 0 0 0 6 17
By inheritance or gift 96 0 0 6 5 4 81
By divorce 6 0 0 0 0 0 6
By tax free exchange of
other property
8 0 0 0 0 0 8
By foreclosure or assignment 21 0 0 0 8 0 13
By some other manner 50 7 0 0 0 0 43
Not reported 148 17 0 0 10 18 104

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
2043 192 12 57 68 294 1419
Sale of stock or other partnership
shares for this project
29 7 0 0 0 0 21
Sale of previously owned stocks,
shares, or other securities
46 16 0 0 0 0 30
Sale of land or other real estate 191 0 0 0 0 41 149
Owner's cash, bank deposits,
share accounts, or bonds
1137 117 7 30 40 144 801
Borrowing from a retirement plan 55 0 0 0 0 7 48
Borrowing using assets other than this
property as collateral
126 16 6 0 1 24 80
Proceeds from an insurance policy 13 0 0 0 0 8 5
From a state or local government source 0 0 0 0 0 0 0
From a non-profit organization 0 0 0 0 0 0 0
Proceeds from sale of tax credits 6 0 0 0 0 6 0
From parents or relatives 101 23 0 0 0 8 70
Other cash source 61 0 0 0 0 7 54
Non-cash source 23 7 0 0 0 0 16
No downpayment required 247 4 0 14 21 39 168
Not reported 167 31 0 13 8 27 88
Other properties 1981 156 60 34 88 146 1496
Not reported 106 11 0 0 10 11 74

Year Property Acquired

1999 to 2001 (part)
1069 98 6 33 59 155 719
1997 and 1998 647 73 7 6 15 77 470
1995 and 1996 509 32 0 18 4 73 382
1990 to 1994 720 83 18 14 29 56 521
1985 to 1989 575 21 13 1 30 67 443
1980 to 1984 227 34 18 0 8 23 144
1975 to 1979 204 0 5 14 17 0 167
1970 to 1974 107 17 6 0 5 0 79
1969 or earlier 70 0 0 6 0 0 65

Building and Land Acquisition

Acquired at same time
3759 324 73 74 158 409 2720
Not acquired at same time 196 6 0 4 8 21 157
Land not owned by building owner 47 11 0 0 0 8 28
Not reported 128 19 0 13 0 14 83

Property New or Previously Owned When
Acquired

Acquired by purchase
3799 335 73 85 143 430 2733
New 567 28 0 0 20 50 468
Previously owned 3148 288 73 85 110 374 2217
As residential property 3141 282 73 85 110 374 2216
Converted from nonresidential use 7 6 0 0 0 0 0
Other 20 0 0 0 0 5 14
Not reported 65 18 0 0 13 0 34
Other properties 182 7 0 6 13 4 151
Not reported 148 17 0 0 10 18 104

Year Structure Built

1999 to March 2000
138 5 0 0 2 57 73
1997 and 1998 152 11 0 7 0 16 118
1995 and 1996 124 5 0 0 4 28 88
1990 to 1994 265 16 0 0 0 34 215
1980 to 1989 554 50 18 8 30 53 396
1970 to 1979 676 72 49 26 57 64 408
1960 to 1969 472 45 5 32 20 53 318
1950 to 1959 695 26 0 7 25 73 564
1940 to 1949 415 54 0 8 9 55 289
1939 or earlier 637 75 0 4 20 18 521

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
1560 164 12 39 68 222 1055
Less than $20,000 115 16 0 0 0 19 80
$20,000 to $39,999 226 15 7 13 14 14 165
$40,000 to $59,999 204 13 6 13 7 6 160
$60,000 to $79,999 228 35 0 0 13 10 169
$80,000 to $99,999 163 23 0 0 7 50 82
$100,000 to $124,999 125 21 0 0 3 21 79
$125,000 to $149,999 169 22 0 13 15 30 90
$150,000 to $174,999 48 13 0 0 0 11 23
$175,000 to $199,999 96 0 0 0 7 18 71
$200,000 to $249,999 88 5 0 0 0 29 54
$250,000 to $299,999 44 0 0 0 2 0 42
$300,000 to $499,999 27 1 0 0 1 0 26
$500,000 or more 27 0 0 0 0 14 14
Median 80933 82849 39023 50217 81538 114527 74615
Mean 106508 86815 42435 74758 96303 137899 105565
Other properties 2569 195 60 52 98 230 1934

Value

Less than $20,000
120 16 0 8 0 22 74
$20,000 to $39,999 322 40 0 13 11 38 220
$40,000 to $59,999 510 19 21 23 25 0 421
$60,000 to $79,999 633 65 19 22 29 27 472
$80,000 to $99,999 542 31 16 13 19 71 391
$100,000 to $124,999 469 52 0 0 32 59 327
$125,000 to $149,999 284 32 6 13 13 46 174
$150,000 to $174,999 268 52 5 0 7 38 166
$175,000 to $199,999 196 20 6 0 0 21 150
$200,000 to $249,999 286 24 0 0 20 49 192
$250,000 to $299,999 147 3 0 0 0 13 131
$300,000 to $499,999 248 1 0 0 8 42 197
$500,000 or more 106 5 0 1 2 26 72
Median 97746 104077 75618 62343 98675 129991 95700
Mean 133045 115889 87688 70383 117897 171028 133234

Purchase Price as Percent of Value@8

Acquired by purchase
3799 335 73 85 143 430 2733
Purchased 1997 to 2001 (part) 1560 164 12 39 68 222 1055
Less than 60 percent 231 13 7 0 14 39 159
60 to 69 percent 171 12 0 7 0 17 134
70 to 79 percent 236 38 0 6 13 20 158
80 to 99 percent 549 74 0 0 30 82 363
100 percent or more 373 27 6 26 11 64 240
Median 85 85 57 2333 85 89 84
Purchased 1990 to 1996 (part) 1163 108 18 26 29 122 860
Less than 40 percent 106 12 0 4 6 0 83
40 to 59 percent 201 22 0 8 14 21 136
60 to 79 percent 416 16 6 8 0 52 335
80 to 99 percent 247 34 12 0 9 23 170
100 percent or more 193 24 0 6 0 26 136
Median 73 82 85 63 52 75 73
Purchased 1989 or earlier 1075 62 43 20 46 86 818
Less than 20 percent 121 17 0 6 0 0 98
20 to 39 percent 151 4 0 0 4 14 129
40 to 59 percent 285 13 17 0 13 27 215
60 to 79 percent 253 16 11 8 25 13 180
80 to 99 percent 122 0 14 1 5 14 88
100 percent or more 143 11 0 7 0 17 107
Median 59 54 67 72 65 62 57
Not acquired by purchase 331 24 0 6 23 22 256

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
1829 151 30 46 78 178 1346
Less than $500 40 0 0 0 0 11 29
$500 to $999 70 0 6 0 0 0 64
$1,000 to $2,499 335 36 0 13 18 36 231
$2,500 to $4,999 399 55 12 14 12 13 293
$5,000 to $7,499 428 22 13 18 28 59 289
$7,500 to $9,999 106 12 0 0 7 6 82
$10,000 to $14,999 121 7 0 0 0 25 89
$15,000 to $19,999 93 6 0 0 7 6 73
$20,000 to $29,999 106 7 0 0 6 0 93
$30,000 or more 130 5 0 0 0 23 102
Median 5411 4284 4484 4206 5747 6270 5477
Mean 9814 7361 3941 3779 6108 9596 10669
Properties with no capital
improvements between 1998 and 2000
1750 157 37 27 56 199 1274
Capital improvements not
reported
550 51 6 19 32 74 369

Monthly Rental Receipts

Acquired before 2000
3528 290 73 72 132 343 2618
Less than $100 86 6 0 14 0 0 66
$100 to $199 112 6 0 0 5 10 91
$200 to $299 122 16 7 0 0 0 99
$300 to $399 295 22 5 6 22 18 221
$400 to $499 364 24 21 10 19 13 278
$500 to $599 365 23 0 0 0 25 316
$600 to $799 624 36 23 26 15 48 475
$800 to $999 360 67 0 0 23 31 238
$1000 or more 928 66 11 7 20 167 658
No rental receipts 272 24 7 8 28 30 175
Median 691 799 603 611 676 661326 663
Mean 1708 1107 571 514 530 1315 1950
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Rental Receipts as Percent of Value@8

Acquired before 2000
3528 290 73 72 132 343 2618
Less than 5 percent 304 13 0 0 22 10 260
5 to 9 percent 1161 115 33 0 51 99 862
10 to 14 percent 1489 116 26 37 31 175 1104
15 to 19 percent 98 0 7 13 0 18 61
20 to 24 percent 49 6 0 0 0 8 35
25 to 29 percent 23 6 0 0 0 0 17
30 to 39 percent 5 5 0 0 0 0 0
40 percent or more 41 0 0 0 0 4 37
Median 10 10 10 13 8 11 10
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
3528 290 73 72 132 343 2618
Less than 1.0 percent 1291 113 31 0 61 97 988
1.0 to 2.9 percent 12 5 0 0 0 0 7
3.0 to 4.9 percent 15 5 0 0 4 0 6
5.0 to 6.9 percent 24 6 0 0 0 0 18
7.0 to 8.9 percent 96 0 0 0 0 0 96
9.0 to 10.9 percent 26 0 0 0 0 0 26
11.0 to 12.9 percent 34 0 0 0 0 15 19
13.0 to 14.9 percent 25 0 0 0 0 0 25
15.0 percent or more 282 6 7 20 13 21 216
Not reported or not computed 1723 155 35 51 54 211 1217
Median 0.7 0.6 0.6 57.5 0.6 0.7 0.7
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Age Restrictions

Property restricted to people
age 55 or older
403 45 0 4 32 31 290
Property not restricted to people
age 55 or older
3559 292 73 69 126 406 2592
Not reported 168 22 0 18 8 14 106

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
19 0 9 4 0 0 7
Government rental subsidy 73 12 0 6 0 0 54
Government grant 13 6 0 0 0 0 7
Property tax relief 32 0 0 0 0 0 32
Federal income tax credit for
low-income, old or historic properties
0 0 0 0 0 0 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties
0 0 0 0 0 0 0
Subsidy from a non-profit corporation 8 0 0 0 0 0 8
None of the above benefits 3588 282 58 75 158 395 2621
Not reported 397 60 6 6 8 56 260

Source of Property Benefits@1

With property benefits
144 18 9 10 0 0 108
Federal government 55 11 9 6 0 0 28
State government 50 6 0 10 0 0 34
Local government 42 0 0 6 0 0 36
Non-profit corporation 8 0 0 0 0 0 8
Not reported 5 0 0 0 0 0 5
With no property benefits 3588 282 58 75 158 395 2621
Not reported 397 60 6 6 8 56 260

Reason for Benefits@1

With property benefits
144 18 9 10 0 0 108
Occupied by low- or moderate-income
individuals
76 18 0 10 0 0 48
Occupied by elderly or disabled
individuals
6 0 0 0 0 0 6
A historic structure 0 0 0 0 0 0 0
Located in a community development or
economic development area
0 0 0 0 0 0 0
Covered by a Homestead Exemption 0 0 0 0 0 0 0
Covered by a Community Land Trust 0 0 0 0 0 0 0
Covered by disaster relief 7 0 0 0 0 0 7
Other reason 44 0 9 0 0 0 36
Not reported 11 0 0 0 0 0 11
With no property benefits 3588 282 58 75 158 395 2621
Not reported 397 60 6 6 8 56 260

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
3491 307 61 86 130 396 2511
Limited partnership 236 11 6 6 12 36 164
Joint venture 30 0 0 0 6 0 24
General partnership 50 0 6 0 0 0 45
Life insurance company 14 11 0 0 0 0 3
Depository institution 0 0 0 0 0 0 0
Public real estate investment trust 11 4 0 0 0 0 7
Private real estate investment trust 5 0 0 0 0 0 5
Corporation - other than real estate
investment trust
177 6 0 0 15 7 150
Housing cooperative organization 5 5 0 0 0 0 0
Non-profit or church-related institution 54 0 0 0 3 0 51
Pension fund 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0
Other 57 15 0 0 0 12 30

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
3696 330 66 82 152 413 2654
2 mortgages 369 29 7 10 14 37 272
3 or more mortgages 64 0 0 0 0 2 62

Form of Debt of First Mortgage

Mortgage or deed of trust
4129 359 73 91 166 451 2989
Contract to purchase 0 0 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
31 0 0 0 0 6 25
By telephone or FAX 466 15 6 19 25 49 353
By regular mail 114 14 7 0 0 14 80
By personal visit 2390 203 10 46 113 252 1765
Through third party (such as real
estate agent or builder)
557 70 19 0 13 66 389
Some other way 55 14 0 0 7 14 20
Not reported 309 31 12 19 8 38 201
Not available 207 11 20 6 0 13 157

Origin of First Mortgage

Mortgage made at time property acquired
3032 272 36 75 133 385 2132
Mortgage assumed at the time property
acquired
292 27 32 6 0 18 209
Mortgage placed later than acquisition of
property
805 60 5 11 33 48 648
Refinanced mortgage 696 49 5 11 20 41 571
Same lender 184 5 0 0 13 13 153
Different lender 512 44 5 11 7 28 418
Mortgage placed on property
owned free and clear of debt
109 11 0 0 13 7 77
Not available 0 0 0 0 0 0 0

Purpose of First Mortgage Placed
Later Than Acquisition of Property

Properties on which
mortgages placed later
than acquisition of property
805 60 5 11 33 48 648
Obtain lower interest rate 428 24 5 7 14 34 343
Increase payment period for mortgage 13 0 0 0 0 7 6
Reduce payment period for mortgage 0 0 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
10 0 0 0 0 0 10
Receive cash or increase outstanding
balance of loan
230 31 0 4 13 7 174
Other reason 89 5 0 0 5 0 79
Not reported 35 0 0 0 0 0 35
Other properties 3324 299 68 81 133 403 2341
Not available 0 0 0 0 0 0 0

Cash Received From Refinancing or
Placing Mortgage on Property Owned
Free and Clear

Properties on which cash
received
325 35 5 4 25 13 242
Less than $20,000 135 19 5 4 0 0 107
$20,000 to $39,999 76 6 0 0 20 0 51
$40,000 to $59,999 49 10 0 0 0 7 31
$60,000 to $79,999 34 0 0 0 0 6 28
$80,000 to $99,999 11 0 0 0 5 0 6
$100,000 to $124,999 20 0 0 0 0 0 20
$125,000 to $149,999 0 0 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 or more 0 0 0 0 0 0 0
Median 27203 18343 10000 10000 32518 58242 25657
Mean 32949 27851 2000 15000 41318 53554 32606
Properties that refinanced
and did not receive cash back
362 19 0 7 8 29 300
Properties that refinanced
and did not report if received
cash back
118 6 0 0 0 6 106
Properties that did not
refinance
3324 299 68 81 133 403 2341
Not available 0 0 0 0 0 0 0

Use of Cash From Refinancing or
Placing Mortgage on Property Owned Free
and Clear

Properties on which cash
received@1
325 35 5 4 25 13 242
For additions, improvements or repairs
to this property
91 5 0 4 8 0 73
To consolidate debts 88 6 5 0 0 0 76
For investment in other real estate 91 24 0 0 8 7 52
For other types of investments 31 0 0 0 5 0 26
For educational or medical expenses 7 0 0 0 0 0 7
To start a business 0 0 0 0 0 0 0
To settle a divorce 8 0 0 0 0 0 8
To pay taxes 6 0 0 0 0 0 6
To purchase an automobile, truck, or
other vehicle
8 0 0 0 0 0 8
To purchase consumer product other than
automobile, truck, or other vehicle
6 0 0 0 0 0 6
Other 54 0 0 0 7 6 41
Not reported 5 0 0 0 5 0 0
Properties that refinanced
and did not receive cash back
362 19 0 7 8 29 300
Properties that refinanced
and did not report if received
cash back
118 6 0 0 0 6 106
Properties that did not
refinance
3324 299 68 81 133 403 2341
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
276 11 0 4 14 32 214
Provide funds for the purchase of this
property
44 0 0 0 0 14 30
Provide funds for additions,
improvements or repairs to this
property
85 0 0 4 14 10 57
Provide funds for consolidation of debts 38 4 0 0 0 0 33
Provide funds for investment in other
real estate
5 0 0 0 0 0 5
Provide funds for other types of
investments
0 0 0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0 0 0
Provide funds to pay taxes 6 0 0 0 0 0 6
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0 0 0
Other reasons 21 0 0 0 0 0 21
Not reported 78 7 0 0 0 9 62
Other properties 3854 348 73 87 152 419 2775

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
222 18 7 6 0 8 183
Provide funds for additions,
improvements or repairs to this
property
74 0 7 6 0 0 61
Provide funds for consolidation of debts 19 7 0 0 0 0 12
Provide funds for investment in other
real estate
29 11 0 0 0 0 18
Provide funds for other types of
investments
0 0 0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0 0 0
Other reasons 16 0 0 0 0 0 16
Not reported 83 0 0 0 0 8 75
Other properties 3908 341 66 86 166 443 2806

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
1527 127 6 33 59 199 1104
1997 and 1998 758 88 7 6 42 81 534
1995 and 1996 515 34 6 25 4 66 381
1990 to 1994 669 62 12 14 34 55 493
1985 to 1989 352 21 13 1 15 41 262
1980 to 1984 118 15 18 0 8 9 67
1979 or earlier 189 12 11 13 4 0 148

Traditional First Mortgage Loan

Less than $20,000
353 46 6 17 8 50 226
$20,000 to $29,999 361 38 17 19 17 18 252
$30,000 to $39,999 416 29 12 14 18 0 343
$40,000 to $49,999 374 12 16 15 13 23 296
$50,000 to $59,999 432 46 0 0 23 38 325
$60,000 to $79,999 560 44 6 7 22 90 391
$80,000 to $99,999 396 58 0 0 19 57 262
$100,000 to $149,999 624 59 6 13 24 87 436
$150,000 to $199,999 307 23 5 0 23 65 191
$200,000 to $249,999 120 0 0 0 0 10 109
$250,000 to $299,999 39 0 0 0 1 0 39
$300,000 or more 54 0 0 0 0 6 48
Not reported 94 5 6 6 0 7 70
Median 62896 62796 38884 34470 64511 81093 60844
Mean 80652 70635 51710 42943 78755 95302 81507

Total Mortgage Loan

Less than $20,000
332 46 6 13 8 50 209
$20,000 to $29,999 357 38 17 23 17 18 244
$30,000 to $39,999 421 29 12 14 18 0 348
$40,000 to $49,999 352 12 16 15 13 23 275
$50,000 to $59,999 421 46 0 0 9 38 328
$60,000 to $79,999 562 40 6 7 22 90 397
$80,000 to $99,999 398 55 0 0 19 50 274
$100,000 to $149,999 643 59 6 13 38 80 447
$150,000 to $199,999 338 30 5 0 23 73 207
$200,000 to $249,999 103 0 0 0 0 14 89
$250,000 to $299,999 36 0 0 0 1 0 35
$300,000 or more 80 0 0 0 0 8 72
Not reported 88 5 6 6 0 7 64
Median 64894 63081 38884 34470 77430 81237 62959
Mean 85010 72130 51710 43235 83010 99079 86522

Traditional First Mortgage Outstanding
Debt

Less than $10,000
212 27 15 13 8 6 142
$10,000 to $19,999 353 23 13 4 4 55 253
$20,000 to $29,999 428 58 15 19 27 6 303
$30,000 to $39,999 424 16 13 14 29 10 341
$40,000 to $49,999 421 8 0 15 14 39 346
$50,000 to $59,999 322 44 0 0 0 29 249
$60,000 to $79,999 527 47 6 7 18 106 343
$80,000 to $99,999 464 63 0 13 19 65 304
$100,000 to $149,999 485 54 11 0 31 75 314
$150,000 to $199,999 257 14 0 0 15 37 192
$200,000 to $249,999 66 0 0 0 1 10 55
$250,000 to $299,999 39 0 0 0 0 0 39
$300,000 or more 43 0 0 0 0 6 37
Not reported 88 5 0 6 0 7 70
Median 55683 60208 25367 34470 60971 74537 52963
Mean 72296 65417 38127 40368 70803 86867 72780

Total Mortgage Outstanding Debt

Less than $10,000
197 27 15 13 8 6 127
$10,000 to $19,999 346 23 13 4 4 55 246
$20,000 to $29,999 435 58 15 19 27 6 310
$30,000 to $39,999 415 16 13 14 29 10 333
$40,000 to $49,999 410 8 0 15 0 39 349
$50,000 to $59,999 328 44 0 0 0 29 255
$60,000 to $79,999 513 43 6 7 32 99 327
$80,000 to $99,999 472 60 0 13 19 65 315
$100,000 to $149,999 524 61 11 0 31 75 347
$150,000 to $199,999 262 14 0 0 15 43 189
$200,000 to $249,999 51 0 0 0 1 8 42
$250,000 to $299,999 30 0 0 0 0 0 30
$300,000 or more 69 0 0 0 0 8 61
Not reported 76 5 0 6 0 7 58
Median 56822 60228 25367 34470 69391 75543 53939
Mean 74793 65912 38127 37702 73166 88953 75840

Current Interest Rate on First Mortgage

Less than 6.0 percent
1606 38 5 51 72 161 1278
6.0 percent 27 0 0 0 0 0 27
6.1 to 6.4 percent 54 9 0 0 0 0 45
6.5 to 6.9 percent 165 7 0 0 17 34 107
7.0 percent 282 41 4 0 19 30 187
7.1 to 7.4 percent 221 26 6 0 8 15 167
7.5 to 7.9 percent 262 44 0 0 0 52 165
8.0 percent 132 28 12 0 4 13 75
8.1 to 8.4 percent 119 0 0 0 0 11 108
8.5 to 8.9 percent 176 13 12 0 0 28 123
9.0 percent 70 0 0 0 0 13 57
9.1 to 9.4 percent 86 21 0 6 0 0 59
9.5 to 9.9 percent 51 16 18 0 0 0 18
10.0 percent 22 0 0 0 0 0 22
10.1 to 10.4 percent 27 27 0 0 0 0 0
10.5 to 10.9 percent 23 10 0 0 0 7 5
11.0 percent 81 20 0 0 6 12 42
11.1 to 12.9 percent 78 18 9 0 6 12 34
13.0 percent 0 0 0 0 0 0 0
13.1 percent or more 648 41 7 34 35 62 470
Not reported 0 0 0 0 0 0 0
Median 7.1 8.0 8.9 5.4 6.8 7.1 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
41 0 7 0 0 5 29
Constant payment 0 0 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0 0 0
Other 5 0 0 0 0 5 0
Not reported 35 0 7 0 0 0 29
Properties without interest
rate buydown
1489 122 42 6 30 183 1106
Not reported 2599 237 24 85 136 263 1854

Term of First Mortgage

Less than 5 years
37 0 0 0 0 4 33
5 years 49 0 0 0 0 0 49
6 to 9 years 22 0 0 0 0 0 22
10 years 69 0 0 0 0 6 62
11 to 14 years 18 0 0 0 0 0 18
15 years 314 8 0 0 9 19 278
16 to 19 years 4 0 0 0 0 0 4
20 years 89 0 0 0 8 21 60
21 to 24 years 5 0 0 0 0 0 5
25 years 27 0 0 0 0 0 27
26 to 29 years 9 0 0 0 0 0 9
30 years 1301 344 73 0 17 178 689
More than 30 years 25 7 0 6 0 0 12
No stated term 2161 0 0 85 132 223 1721
Median 30 30 31 65 30 30 30

Unexpired Term of First Mortgage

Less than 5 years
117 6 6 0 0 4 101
5 to 9 years 193 12 20 0 9 6 147
10 to 14 years 305 23 4 0 0 23 255
15 to 19 years 226 28 32 0 8 21 137
20 to 24 years 232 56 11 0 4 24 137
25 to 29 years 747 173 0 0 13 138 423
30 or more years 149 62 0 6 0 13 68
No stated term or not computed 2161 0 0 85 132 223 1721
Median 23 27 16 65 20 26 20

Holder of First Mortgage

Commercial bank or trust company
819 78 0 15 60 52 614
Savings and loan association, federal
savings bank
460 12 0 15 23 13 396
Mutual savings bank 97 12 16 0 0 5 64
Life insurance company 77 0 0 0 8 17 53
Mortgage banker or mortgage company 278 43 0 0 0 90 145
Federally-sponsored secondary market
agency or pool
1635 181 45 39 51 199 1120
Conventional mortgage pool 52 0 0 0 0 23 29
Other federal agency 161 12 6 6 11 14 111
Real estate investment trust 7 0 0 0 0 0 7
Pension or retirement fund 6 0 0 0 0 0 6
Credit union 125 5 6 6 0 0 109
Finance company 86 5 0 6 0 16 60
State or municipal government or
housing finance agency
178 12 0 4 5 22 135
Individual or individual's estate 84 0 0 0 0 0 84
Other 64 0 0 0 8 0 56

Servicer of First Mortgage

Commercial bank or trust company
932 75 7 15 60 74 702
Savings and loan association, federal
savings bank
461 12 0 15 26 21 386
Mutual savings bank 77 0 7 0 0 5 64
Life insurance company 77 0 0 0 8 17 53
Mortgage banker or mortgage company 1907 238 54 39 52 283 1241
Federally-sponsored secondary market
agency or pool
0 0 0 0 0 0 0
Conventional mortgage pool 0 0 0 0 0 0 0
Other federal agency 145 12 0 6 7 14 106
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 6 0 0 0 0 0 6
Credit union 130 5 6 6 0 5 109
Finance company 81 5 0 6 0 11 60
State or municipal government or
housing finance agency
171 12 0 4 5 22 128
Individual or individual's estate 84 0 0 0 0 0 84
Other 58 0 0 0 8 0 50

Holder's Acquisition of First Mortgage

Originated directly from borrower
2107 144 13 51 71 191 1636
Purchased from present servicer 1060 97 16 34 73 147 693
Purchased from someone else 962 118 44 6 21 113 659
Not reported 0 0 0 0 0 0 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
3056 274 68 75 123 381 2134
Less than 40 percent 72 11 6 1 2 13 40
40 to 49 percent 84 0 4 0 0 15 65
50 to 59 percent 112 8 13 0 0 7 84
60 to 69 percent 314 42 0 25 14 25 209
70 to 79 percent 357 28 5 0 15 32 277
80 to 89 percent 562 31 9 0 16 97 409
90 to 94 percent 209 26 0 0 7 82 95
95 to 99 percent 248 42 6 6 17 21 155
100 percent or more 1026 87 19 36 52 83 749
Not reported 70 0 6 6 0 7 51
Median 90 93 83 6436 97 90 89
Other properties 1074 85 5 17 43 70 855
Not available 0 0 0 0 0 0 0

First Mortgage Loan as a Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
3056 274 68 75 123 381 2134
Less than 40 percent 60 11 0 1 2 5 42
40 to 49 percent 108 0 0 0 0 17 90
50 to 59 percent 111 7 7 0 0 0 97
60 to 69 percent 547 51 21 25 22 53 376
70 to 79 percent 518 34 15 0 16 74 380
80 to 89 percent 553 33 7 0 7 92 413
90 to 94 percent 154 14 0 0 7 64 69
95 to 99 percent 228 47 6 6 17 29 122
100 percent or more 707 78 7 36 52 40 493
Not reported 70 0 6 6 0 7 51
Median 83 91 72 728 97 84 81
Other properties 1074 85 5 17 43 70 855
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
301 22 0 6 23 34 217
Not subprime loan 3828 338 73 86 143 417 2772
Not reported 0 0 0 0 0 0 0

Total Mortgage Loan as a Percent of
Purchase Price

Properties acquired by purchase
with first mortgage made or
assumed at time of purchase
3056 274 68 75 123 381 2134
Less than 40 percent 71 11 10 1 2 13 35
40 to 49 percent 71 0 0 0 0 13 57
50 to 59 percent 106 8 13 0 0 7 78
60 to 69 percent 307 42 0 25 14 25 202
70 to 79 percent 334 28 5 0 15 26 260
80 to 89 percent 550 37 9 0 16 89 399
90 to 94 percent 191 20 0 0 7 69 95
95 to 99 percent 265 42 6 6 17 23 170
100 percent or more 1091 87 19 36 52 108 788
Not reported 70 0 6 6 0 7 51
Median 91 93 83 6436 97 91 91
Other properties 1074 85 5 17 43 70 855
Not available 0 0 0 0 0 0 0

Total Mortgage Loan as Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
3056 274 68 75 123 381 2134
Less than 40 percent 347 36 28 6 8 37 232
40 to 49 percent 297 33 0 0 6 60 198
50 to 59 percent 436 31 0 8 19 53 324
60 to 69 percent 523 31 13 34 19 30 395
70 to 79 percent 473 59 0 6 19 80 309
80 to 89 percent 344 23 16 0 35 57 213
90 to 94 percent 158 14 0 0 0 23 121
95 to 99 percent 88 32 6 0 0 9 42
100 percent or more 320 16 0 14 17 24 249
Not reported 70 0 6 6 0 7 51
Median 68 71 62 66 75 71 67
Other properties 1074 85 5 17 43 70 855
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
260 16 21 6 8 17 192
20 to 29 percent 276 17 7 0 4 13 235
30 to 39 percent 314 42 0 12 7 60 194
40 to 49 percent 526 54 15 0 44 46 367
50 to 59 percent 758 41 6 20 18 100 574
60 to 69 percent 416 34 6 28 15 24 310
70 to 79 percent 621 73 7 6 33 87 415
80 to 89 percent 387 17 11 0 27 58 274
90 to 99 percent 211 40 0 13 3 20 135
100 percent or more 269 16 0 0 8 18 227
Not reported or not computed 90 11 0 6 0 7 66
Median 58 62 45 62 62 59 58

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
888 37 18 13 38 65 717
Treasury security 222 4 5 0 8 7 198
Average cost of funds in bank district 56 0 0 0 0 0 56
National average cost of funds 15 0 0 0 0 6 9
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 124 0 0 0 0 15 109
No index used 18 0 0 0 0 7 11
Not reported 452 33 13 13 29 29 335
Other properties 3241 322 55 78 128 386 2271
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
888 37 18 13 38 65 717
Monthly 93 0 0 0 0 6 87
Every 3 months 13 0 0 0 0 0 13
Every 6 months 45 0 0 0 0 15 30
Yearly 198 4 5 0 8 7 173
Every 3 years 50 0 0 0 0 0 50
Every 5 years 33 0 0 0 0 0 33
Other 8 0 0 0 0 0 8
Not reported 449 33 13 13 29 36 324
Other properties 3241 322 55 78 128 386 2271
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
888 37 18 13 38 65 717
Less than 1 percent 20 0 0 0 0 0 20
1 percent 12 0 0 0 0 0 12
1.1 to 1.9 percent 18 0 0 0 0 0 18
2 percent 191 0 0 0 8 7 176
2.1 to 2.9 percent 3 0 0 0 0 0 3
3 percent 4 0 0 0 0 0 4
3.1 to 3.9 percent 4 4 0 0 0 0 0
4.0 percent or more 47 0 5 0 0 21 21
No caps 132 0 0 0 0 0 132
Not reported 456 33 13 13 29 36 331
Other properties 3241 322 55 78 128 386 2271
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
888 37 18 13 38 65 717
Less than 1 percent 20 0 0 0 0 0 20
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0 0 0
2 percent 0 0 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 0 0 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 351 4 5 0 8 29 305
No caps 61 0 0 0 0 0 61
Not reported 456 33 13 13 29 36 331
Other properties 3241 322 55 78 128 386 2271
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
888 37 18 13 38 65 717
Yes, rate has changed 305 4 5 0 8 14 274
No change since mortgage made 127 0 0 0 0 15 112
Not reported 456 33 13 13 29 36 331
Other properties 3241 322 55 78 128 386 2271
Not reported 0 0 0 0 0 0 0

Change in Monthly Interest and Principal
Payments Other Than Change in Interest
Rate

Monthly payments can change
(other than change in interest
ra
31 0 0 0 0 0 31
Payments can change monthly 0 0 0 0 0 0 0
Payments can change every three months 0 0 0 0 0 0 0
Payments can change every six months 0 0 0 0 0 0 0
Payments can change yearly 31 0 0 0 0 0 31
Payments can change every 3 years 0 0 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot
change
3651 326 60 78 137 415 2635
Not reported 447 33 13 13 29 36 322

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
31 0 0 0 0 0 31
Yes, unrestricted negative amortization 2 0 0 0 0 0 2
Yes, restricted negative amortization 15 0 0 0 0 0 15
No negative amortization allowed 14 0 0 0 0 0 14
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 3651 326 60 78 137 415 2635
Not reported 447 33 13 13 29 36 322

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
3883 321 73 72 153 441 2823
Interest and principal 3870 321 73 72 153 441 2810
Fully amortized 3547 316 67 61 139 397 2566
Not fully amortized 323 5 6 11 13 44 243
Interest only 13 0 0 0 0 0 13
No regular payments required 13 0 0 0 0 0 13
Not reported 233 38 0 19 13 10 153

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
3870 321 73 72 153 441 2810
Real estate taxes 943 128 60 6 12 157 579
Property insurance 901 134 54 6 12 165 530
Mortgage insurance 190 65 7 0 0 108 9
Other 320 47 37 0 0 47 189
No items included or not reported 2860 187 13 66 141 269 2184
No regular payments of interest
and principal
259 38 0 19 13 10 179

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
3883 321 73 72 153 441 2823
Less than $100 113 34 0 0 0 13 65
$100 to $199 211 16 0 4 0 24 167
$200 to $299 441 43 28 14 17 18 322
$300 to $399 478 31 13 20 27 31 356
$400 to $499 519 63 16 7 23 33 378
$500 to $599 379 23 6 14 0 52 285
$600 to $699 288 28 0 0 7 60 193
$700 to $799 277 8 0 0 13 22 234
$800 to $899 202 28 6 0 0 44 124
$900 to $999 172 27 5 0 12 6 121
$1,000 to $1,249 298 15 0 13 18 71 182
$1,250 to $1,499 184 0 0 0 15 26 143
$1,500 or more 322 5 0 1 21 40 254
Median 547 457 369 390 722 682 544
Mean 1402 512 427 494 5559 833 1416
No regular payments required 13 0 0 0 0 0 13
Not reported 233 38 0 19 13 10 153

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
4116 359 73 91 166 451 2975
Up-to-date, ahead of schedule, or
less than 90 days past due
1684 134 54 0 34 229 1233
Delinquent by 90 days or more 26 0 6 6 0 0 13
Legal proceedings have begun 12 0 6 6 0 0 0
Legal proceedings have not begun 5 0 0 0 0 0 5
Not reported 8 0 0 0 0 0 8
Not reported 2407 225 13 85 132 223 1729
Other properties 13 0 0 0 0 0 13

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
3889 321 73 72 153 441 2829
Less than $100 107 34 0 0 0 13 59
$100 to $199 195 16 0 0 0 24 155
$200 to $299 428 43 28 18 17 18 304
$300 to $399 486 31 13 20 27 31 364
$400 to $499 476 59 16 7 9 33 353
$500 to $599 381 23 6 14 0 52 287
$600 to $699 302 28 0 0 7 54 214
$700 to $799 269 12 0 0 13 22 221
$800 to $899 189 28 6 0 0 26 130
$900 to $999 178 27 5 0 26 6 113
$1,000 to $1,249 340 15 0 13 18 89 206
$1,250 to $1,499 199 0 0 0 15 28 156
$1,500 or more 340 5 0 1 21 46 268
Median 567 461 369 390 917 692 563
Mean 1429 516 427 501 5602 860 1446
No regular monthly payments
required
240 38 0 19 13 10 159

Interest and Principal Payment on
First Mortgage as Percent of Rental
Receipts

Acquired before 2000 and
regular payments of interest
and/or princi
3316 253 73 60 125 336 2470
Less than 20 percent 138 27 0 0 0 22 89
20 to 29 percent 108 17 6 5 0 2 78
30 to 39 percent 158 10 4 0 0 45 99
40 to 49 percent 308 29 0 7 4 31 237
50 to 59 percent 279 21 13 0 7 25 214
60 to 69 percent 374 33 5 6 4 37 288
70 to 79 percent 309 6 12 8 0 38 246
80 to 89 percent 285 18 5 12 16 33 201
90 to 99 percent 226 19 15 0 30 19 142
100 percent or more 786 49 6 0 35 54 643
Not reported or not computed 345 24 7 22 28 30 234
Median 74 63 74 72 96 67 75
Other properties 813 107 0 32 41 115 518

Interest and Principal Payment on Total
Mortgages as Percent of Rental Receipts

Acquired before 2000 and regular
payments of interest and/or
principal
3323 253 73 60 125 336 2477
Less than 20 percent 132 27 0 0 0 22 83
20 to 29 percent 104 17 6 1 0 2 79
30 to 39 percent 151 10 4 0 0 38 99
40 to 49 percent 301 29 0 11 4 31 227
50 to 59 percent 278 21 13 0 7 25 212
60 to 69 percent 350 33 5 6 4 44 258
70 to 79 percent 258 2 12 8 0 31 205
80 to 89 percent 286 18 5 12 16 33 202
90 to 99 percent 235 19 15 0 30 19 152
100 percent or more 882 53 6 0 35 61 727
Not reported or not computed 345 24 7 22 28 30 234
Median 77 63 74 72 96 68 78
Other properties 807 107 0 32 41 115 512

Real Estate Tax

Acquired before 2000
3528 290 73 72 132 343 2618
Less than $100 130 6 6 0 3 10 105
$100 to $199 65 6 0 0 5 0 54
$200 to $299 77 8 0 14 0 0 55
$300 to $399 201 20 7 24 9 14 127
$400 to $499 210 13 0 0 8 13 176
$500 to $599 216 19 9 7 12 17 153
$600 to $699 195 20 0 0 13 12 150
$700 to $799 164 7 7 6 12 13 119
$800 to $899 257 28 0 0 20 0 209
$900 to $999 115 12 5 0 8 7 83
$1,000 to $1,249 468 24 23 6 0 62 353
$1,250 to $1,499 237 15 0 6 0 41 175
$1,500 to $1,999 433 50 11 8 14 49 300
$2,000 to $2,499 271 19 6 1 13 21 212
$2,500 or more 449 39 0 0 15 84 310
Not reported 40 5 0 0 0 0 36
Median 1061 1038 1029 390 822 1395 1043
Mean 1391 1621 1002 683 1139 1902 1342
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Real Estate Tax Per $1,000 Value

Acquired before 2000
3528 290 73 72 132 343 2618
Less than $5 297 11 6 8 21 18 233
$5 to $9 1545 145 13 35 40 161 1151
$10 to $14 646 52 35 0 37 50 471
$15 to $19 415 12 0 0 5 64 334
$20 to $24 217 34 7 14 15 24 124
$25 to $29 143 6 0 8 15 8 107
$30 to $39 214 21 12 6 0 19 156
$40 to $49 5 5 0 0 0 0 0
$50 to $59 0 0 0 0 0 0 0
$60 or more 6 0 0 0 0 0 6
Not reported or not computed 40 5 0 0 0 0 36
Median 10 10 12 9 11 10 10
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
3528 290 73 72 132 343 2618
Less than 5 percent 206 15 6 1 8 12 165
5 to 9 percent 1038 95 6 29 21 138 750
10 to 14 percent 708 44 18 6 22 40 577
15 to 19 percent 474 48 7 8 17 66 328
20 to 24 percent 294 27 18 6 29 31 183
25 to 29 percent 181 13 12 0 0 8 148
30 to 34 percent 88 6 0 0 0 5 77
35 to 39 percent 44 0 0 0 8 0 36
40 percent or more 96 6 0 0 0 12 78
Not reported or not computed 399 34 7 22 28 30 277
Median 12 12 18 9 15 11 12
Acquired 2000 and 2001 (part) 602 69 0 20 34 108 371

Source: U.S. Census Bureau | Residential Finance Survey |  Last Revised: 2012-08-02T15:15:13.203-04:00