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Residential Finance Survey: 2001 - Northeast
Table 4-3b. 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
apartments^^
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
474 45 0 0 9 73 348

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
406 39 0 0 9 73 285
In central cities 111 0 0 0 9 22 80
Not in central cities 295 39 0 0 0 51 205
Outside MAs 69 6 0 0 0 0 63

Manner of Acquisition

By purchase
408 45 0 0 9 65 289
Placed one new mortgage 353 39 0 0 9 58 248
Placed two or more new mortgages 0 0 0 0 0 0 0
Assumed mortgage(s) already on property 28 0 0 0 0 0 28
Assumed mortgage(s) already on property
and placed new mortgage
0 0 0 0 0 0 0
Borrowed using assets other than this
property as collateral
20 0 0 0 0 7 13
Paid all cash-no borrowing 6 6 0 0 0 0 0
Other manner 0 0 0 0 0 0 0
By inheritance or gift 23 0 0 0 0 0 23
By divorce 0 0 0 0 0 0 0
By tax free exchange of
other property
0 0 0 0 0 0 0
By foreclosure or assignment 6 0 0 0 0 0 6
By some other manner 0 0 0 0 0 0 0
Not reported 38 0 0 0 0 8 31

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
227 20 0 0 9 49 149
Sale of stock or other partnership
shares for this project
6 0 0 0 0 0 6
Sale of previously owned stocks,
shares, or other securities
23 8 0 0 0 0 15
Sale of land or other real estate 21 0 0 0 0 14 7
Owner's cash, bank deposits,
share accounts, or bonds
101 6 0 0 9 22 64
Borrowing from a retirement plan 17 0 0 0 0 0 17
Borrowing using assets other than this
property as collateral
45 0 0 0 0 14 31
Proceeds from an insurance policy 0 0 0 0 0 0 0
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 0 0 0 0 0 0 0
From parents or relatives 0 0 0 0 0 0 0
Other cash source 0 0 0 0 0 0 0
Non-cash source 0 0 0 0 0 0 0
No downpayment required 11 0 0 0 0 0 11
Not reported 13 6 0 0 0 0 7
Other properties 209 24 0 0 0 16 169
Not reported 38 0 0 0 0 8 31

Year Property Acquired

1999 to 2001 (part)
128 6 0 0 9 20 93
1997 and 1998 107 14 0 0 0 21 72
1995 and 1996 47 0 0 0 0 16 31
1990 to 1994 80 24 0 0 0 0 56
1985 to 1989 52 0 0 0 0 16 36
1980 to 1984 18 0 0 0 0 0 18
1975 to 1979 21 0 0 0 0 0 21
1970 to 1974 7 0 0 0 0 0 7
1969 or earlier 14 0 0 0 0 0 14

Building and Land Acquisition

Acquired at same time
412 39 0 0 9 60 304
Not acquired at same time 28 0 0 0 0 5 22
Land not owned by building owner 18 6 0 0 0 8 5
Not reported 16 0 0 0 0 0 16

Property New or Previously Owned When
Acquired

Acquired by purchase
408 45 0 0 9 65 289
New 47 0 0 0 0 5 42
Previously owned 361 45 0 0 9 60 247
As residential property 354 38 0 0 9 60 247
Converted from nonresidential use 6 6 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Other properties 28 0 0 0 0 0 28
Not reported 38 0 0 0 0 8 31

Year Structure Built

1999 to March 2000
23 0 0 0 2 14 7
1997 and 1998 8 0 0 0 0 0 8
1995 and 1996 5 0 0 0 0 0 5
1990 to 1994 13 0 0 0 0 7 6
1980 to 1989 50 11 0 0 0 8 31
1970 to 1979 28 7 0 0 0 0 21
1960 to 1969 53 0 0 0 0 16 37
1950 to 1959 109 0 0 0 7 8 94
1940 to 1949 45 21 0 0 0 14 11
1939 or earlier 141 6 0 0 0 6 128

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
188 20 0 0 9 33 126
Less than $20,000 13 0 0 0 0 6 6
$20,000 to $39,999 19 0 0 0 0 0 19
$40,000 to $59,999 14 0 0 0 0 6 7
$60,000 to $79,999 37 6 0 0 0 0 32
$80,000 to $99,999 20 0 0 0 0 0 20
$100,000 to $124,999 22 8 0 0 0 0 14
$125,000 to $149,999 30 6 0 0 7 7 10
$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 21 0 0 0 0 8 12
$250,000 to $299,999 8 0 0 0 2 0 6
$300,000 to $499,999 0 0 0 0 0 0 0
$500,000 or more 5 0 0 0 0 5 0
Median 91969 113429 0 0 140656 139184 79294
Mean 113619 102356 0 0 150200 171569 97535
Other properties 286 24 0 0 0 40 222

Value

Less than $20,000
0 0 0 0 0 0 0
$20,000 to $39,999 49 6 0 0 0 14 29
$40,000 to $59,999 69 0 0 0 0 0 69
$60,000 to $79,999 40 12 0 0 0 0 28
$80,000 to $99,999 63 0 0 0 0 6 57
$100,000 to $124,999 62 7 0 0 0 15 40
$125,000 to $149,999 18 0 0 0 0 0 18
$150,000 to $174,999 52 6 0 0 7 7 31
$175,000 to $199,999 24 8 0 0 0 0 16
$200,000 to $249,999 42 0 0 0 0 0 42
$250,000 to $299,999 1 0 0 0 0 0 1
$300,000 to $499,999 30 0 0 0 0 17 13
$500,000 or more 24 5 0 0 2 14 3
Median 106369 115007 0 0 165656 154235 96786
Mean 150444 184530 0 0 237327 265891 119664

Purchase Price as Percent of Value@8

Acquired by purchase
408 45 0 0 9 65 289
Purchased 1997 to 2001 (part) 188 20 0 0 9 33 126
Less than 60 percent 46 0 0 0 2 21 24
60 to 69 percent 8 8 0 0 0 0 0
70 to 79 percent 35 6 0 0 7 5 17
80 to 99 percent 65 6 0 0 0 7 51
100 percent or more 34 0 0 0 0 0 34
Median 81 74 0 0 74 48 89
Purchased 1990 to 1996 (part) 114 24 0 0 0 16 73
Less than 40 percent 6 6 0 0 0 0 0
40 to 59 percent 19 6 0 0 0 9 4
60 to 79 percent 38 0 0 0 0 7 30
80 to 99 percent 11 0 0 0 0 0 11
100 percent or more 40 12 0 0 0 0 28
Median 77 59 0 0 0 58 84
Purchased 1989 or earlier 106 0 0 0 0 16 90
Less than 20 percent 32 0 0 0 0 0 32
20 to 39 percent 8 0 0 0 0 8 0
40 to 59 percent 6 0 0 0 0 0 6
60 to 79 percent 17 0 0 0 0 0 17
80 to 99 percent 21 0 0 0 0 8 13
100 percent or more 22 0 0 0 0 0 22
Median 68 0 0 0 0 40 68
Not acquired by purchase 67 0 0 0 0 8 59

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
251 17 0 0 7 22 204
Less than $500 8 0 0 0 0 0 8
$500 to $999 0 0 0 0 0 0 0
$1,000 to $2,499 61 0 0 0 0 6 55
$2,500 to $4,999 33 6 0 0 0 0 27
$5,000 to $7,499 58 0 0 0 7 0 51
$7,500 to $9,999 4 0 0 0 0 0 4
$10,000 to $14,999 25 0 0 0 0 9 16
$15,000 to $19,999 22 6 0 0 0 0 16
$20,000 to $29,999 6 0 0 0 0 0 6
$30,000 or more 33 5 0 0 0 7 21
Median 6000 17213 0 0 6250 12734 5584
Mean 15805 25656 0 0 5000 15544 15372
Properties with no capital
improvements between 1998 and 2000
179 19 0 0 2 51 107
Capital improvements not
reported
45 8 0 0 0 0 36

Monthly Rental Receipts

Acquired before 2000
407 45 0 0 0 67 296
Less than $100 5 0 0 0 0 0 5
$100 to $199 12 6 0 0 0 0 6
$200 to $299 15 0 0 0 0 0 15
$300 to $399 22 0 0 0 0 6 15
$400 to $499 62 6 0 0 0 7 49
$500 to $599 56 12 0 0 0 0 43
$600 to $799 56 0 0 0 0 15 41
$800 to $999 21 7 0 0 0 0 14
$1000 or more 123 13 0 0 0 38 72
No rental receipts 34 0 0 0 0 0 34
Median 651 581 0 0 0 1156160 593
Mean 7127 3029 0 0 0 2495 8786
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

Rental Receipts as Percent of Value@8

Acquired before 2000
407 45 0 0 0 67 296
Less than 5 percent 42 6 0 0 0 0 36
5 to 9 percent 88 26 0 0 0 22 39
10 to 14 percent 190 7 0 0 0 31 153
15 to 19 percent 15 0 0 0 0 6 9
20 to 24 percent 18 0 0 0 0 8 10
25 to 29 percent 2 0 0 0 0 0 2
30 to 39 percent 5 5 0 0 0 0 0
40 percent or more 8 0 0 0 0 0 8
Median 11 8 0 0 0 12 12
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
407 45 0 0 0 67 296
Less than 1.0 percent 131 12 0 0 0 21 97
1.0 to 2.9 percent 5 5 0 0 0 0 0
3.0 to 4.9 percent 0 0 0 0 0 0 0
5.0 to 6.9 percent 0 0 0 0 0 0 0
7.0 to 8.9 percent 7 0 0 0 0 0 7
9.0 to 10.9 percent 1 0 0 0 0 0 1
11.0 to 12.9 percent 0 0 0 0 0 0 0
13.0 to 14.9 percent 0 0 0 0 0 0 0
15.0 percent or more 30 6 0 0 0 0 24
Not reported or not computed 234 21 0 0 0 45 167
Median 0.7 1.0 0.0 0.0 0.0 0.5 0.7
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

Age Restrictions

Property restricted to people
age 55 or older
57 0 0 0 0 5 52
Property not restricted to people
age 55 or older
397 45 0 0 9 68 276
Not reported 20 0 0 0 0 0 20

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
0 0 0 0 0 0 0
Government rental subsidy 6 6 0 0 0 0 0
Government grant 0 0 0 0 0 0 0
Property tax relief 20 0 0 0 0 0 20
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 416 38 0 0 9 65 304
Not reported 25 0 0 0 0 8 16

Source of Property Benefits@1

With property benefits
34 6 0 0 0 0 28
Federal government 0 0 0 0 0 0 0
State government 21 6 0 0 0 0 14
Local government 0 0 0 0 0 0 0
Non-profit corporation 8 0 0 0 0 0 8
Not reported 5 0 0 0 0 0 5
With no property benefits 416 38 0 0 9 65 304
Not reported 25 0 0 0 0 8 16

Reason for Benefits@1

With property benefits
34 6 0 0 0 0 28
Occupied by low- or moderate-income
individuals
6 6 0 0 0 0 0
Occupied by elderly or disabled
individuals
0 0 0 0 0 0 0
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 0 0 0 0 0 0 0
Other reason 17 0 0 0 0 0 17
Not reported 11 0 0 0 0 0 11
With no property benefits 416 38 0 0 9 65 304
Not reported 25 0 0 0 0 8 16

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
397 39 0 0 9 73 277
Limited partnership 24 0 0 0 0 0 24
Joint venture 0 0 0 0 0 0 0
General partnership 6 0 0 0 0 0 6
Life insurance company 0 0 0 0 0 0 0
Depository institution 0 0 0 0 0 0 0
Public real estate investment trust 0 0 0 0 0 0 0
Private real estate investment trust 0 0 0 0 0 0 0
Corporation - other than real estate
investment trust
27 0 0 0 0 0 27
Housing cooperative organization 0 0 0 0 0 0 0
Non-profit or church-related institution 8 0 0 0 0 0 8
Pension fund 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0
Other 12 6 0 0 0 0 5

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
433 38 0 0 9 67 320
2 mortgages 41 7 0 0 0 6 28
3 or more mortgages 0 0 0 0 0 0 0

Form of Debt of First Mortgage

Mortgage or deed of trust
474 45 0 0 9 73 348
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
0 0 0 0 0 0 0
By telephone or FAX 63 0 0 0 0 14 50
By regular mail 10 6 0 0 0 0 3
By personal visit 270 19 0 0 9 46 196
Through third party (such as real
estate agent or builder)
55 19 0 0 0 7 29
Some other way 9 0 0 0 0 0 9
Not reported 37 0 0 0 0 6 31
Not available 29 0 0 0 0 0 29

Origin of First Mortgage

Mortgage made at time property acquired
382 33 0 0 9 66 274
Mortgage assumed at the time property
acquired
29 0 0 0 0 0 29
Mortgage placed later than acquisition of
property
63 11 0 0 0 7 45
Refinanced mortgage 44 5 0 0 0 0 39
Same lender 12 5 0 0 0 0 7
Different lender 31 0 0 0 0 0 31
Mortgage placed on property
owned free and clear of debt
20 6 0 0 0 7 6
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
63 11 0 0 0 7 45
Obtain lower interest rate 18 5 0 0 0 0 13
Increase payment period for mortgage 0 0 0 0 0 0 0
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
21 6 0 0 0 7 7
Other reason 14 0 0 0 0 0 14
Not reported 0 0 0 0 0 0 0
Other properties 411 33 0 0 9 66 303
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
34 5 0 0 0 7 22
Less than $20,000 7 0 0 0 0 0 7
$20,000 to $39,999 0 0 0 0 0 0 0
$40,000 to $59,999 20 5 0 0 0 7 8
$60,000 to $79,999 0 0 0 0 0 0 0
$80,000 to $99,999 0 0 0 0 0 0 0
$100,000 to $124,999 7 0 0 0 0 0 7
$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 50207 50000 0 0 0 50000 50531
Mean 47146 50000 0 0 0 40000 48871
Properties that refinanced
and did not receive cash back
23 0 0 0 0 0 23
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0 0 0
Properties that did not
refinance
411 33 0 0 9 66 303
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
34 5 0 0 0 7 22
For additions, improvements or repairs
to this property
12 5 0 0 0 0 7
To consolidate debts 0 0 0 0 0 0 0
For investment in other real estate 14 0 0 0 0 7 7
For other types of investments 0 0 0 0 0 0 0
For educational or medical expenses 0 0 0 0 0 0 0
To start a business 0 0 0 0 0 0 0
To settle a divorce 0 0 0 0 0 0 0
To pay taxes 0 0 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
0 0 0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0 0 0
Other 8 0 0 0 0 0 8
Not reported 0 0 0 0 0 0 0
Properties that refinanced
and did not receive cash back
23 0 0 0 0 0 23
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0 0 0
Properties that did not
refinance
411 33 0 0 9 66 303
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
14 0 0 0 0 0 14
Provide funds for the purchase of this
property
0 0 0 0 0 0 0
Provide funds for additions,
improvements or repairs to this
property
0 0 0 0 0 0 0
Provide funds for consolidation of debts 0 0 0 0 0 0 0
Provide funds for investment in other
real estate
0 0 0 0 0 0 0
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 8 0 0 0 0 0 8
Not reported 0 0 0 0 0 0 0
Other properties 460 45 0 0 9 73 334

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
27 7 0 0 0 6 14
Provide funds for additions,
improvements or repairs to this
property
0 0 0 0 0 0 0
Provide funds for consolidation of debts 7 7 0 0 0 0 0
Provide funds for investment in other
real estate
0 0 0 0 0 0 0
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 0 0 0 0 0 0 0
Not reported 20 0 0 0 0 6 14
Other properties 448 38 0 0 9 67 334

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
163 17 0 0 9 28 109
1997 and 1998 102 8 0 0 0 28 66
1995 and 1996 54 0 0 0 0 9 45
1990 to 1994 75 19 0 0 0 0 56
1985 to 1989 53 0 0 0 0 8 45
1980 to 1984 15 0 0 0 0 0 15
1979 or earlier 13 0 0 0 0 0 13

Traditional First Mortgage Loan

Less than $20,000
43 6 0 0 2 14 21
$20,000 to $29,999 25 6 0 0 0 0 18
$30,000 to $39,999 42 0 0 0 0 0 42
$40,000 to $49,999 65 0 0 0 0 6 59
$50,000 to $59,999 52 6 0 0 0 0 46
$60,000 to $79,999 39 0 0 0 0 13 26
$80,000 to $99,999 25 7 0 0 0 0 18
$100,000 to $149,999 104 14 0 0 7 14 68
$150,000 to $199,999 38 5 0 0 0 17 16
$200,000 to $249,999 25 0 0 0 0 8 17
$250,000 to $299,999 6 0 0 0 0 0 6
$300,000 or more 3 0 0 0 0 0 3
Not reported 8 0 0 0 0 0 8
Median 63657 92006 0 0 118687 111505 56540
Mean 86091 82126 0 0 95321 109397 81369

Total Mortgage Loan

Less than $20,000
37 6 0 0 2 14 15
$20,000 to $29,999 31 6 0 0 0 0 24
$30,000 to $39,999 42 0 0 0 0 0 42
$40,000 to $49,999 57 0 0 0 0 6 51
$50,000 to $59,999 54 6 0 0 0 0 48
$60,000 to $79,999 46 0 0 0 0 13 33
$80,000 to $99,999 25 7 0 0 0 0 18
$100,000 to $149,999 104 14 0 0 7 14 68
$150,000 to $199,999 38 5 0 0 0 17 16
$200,000 to $249,999 25 0 0 0 0 8 17
$250,000 to $299,999 6 0 0 0 0 0 6
$300,000 or more 3 0 0 0 0 0 3
Not reported 8 0 0 0 0 0 8
Median 65958 92006 0 0 118687 111505 58039
Mean 86552 82126 0 0 95321 109397 82001

Traditional First Mortgage Outstanding
Debt

Less than $10,000
19 0 0 0 2 0 18
$10,000 to $19,999 50 6 0 0 0 14 31
$20,000 to $29,999 23 6 0 0 0 0 16
$30,000 to $39,999 64 0 0 0 0 0 64
$40,000 to $49,999 57 0 0 0 0 6 51
$50,000 to $59,999 19 6 0 0 0 0 13
$60,000 to $79,999 65 7 0 0 0 13 45
$80,000 to $99,999 62 8 0 0 0 23 31
$100,000 to $149,999 60 6 0 0 7 8 38
$150,000 to $199,999 28 5 0 0 0 0 23
$200,000 to $249,999 15 0 0 0 0 8 6
$250,000 to $299,999 3 0 0 0 0 0 3
$300,000 or more 0 0 0 0 0 0 0
Not reported 8 0 0 0 0 0 8
Median 60064 72006 0 0 118687 82849 48166
Mean 73777 76854 0 0 93710 89614 69452

Total Mortgage Outstanding Debt

Less than $10,000
14 0 0 0 2 0 12
$10,000 to $19,999 50 6 0 0 0 14 31
$20,000 to $29,999 28 6 0 0 0 0 22
$30,000 to $39,999 55 0 0 0 0 0 55
$40,000 to $49,999 66 0 0 0 0 6 60
$50,000 to $59,999 19 6 0 0 0 0 13
$60,000 to $79,999 65 7 0 0 0 13 45
$80,000 to $99,999 62 8 0 0 0 23 31
$100,000 to $149,999 60 6 0 0 7 8 38
$150,000 to $199,999 28 5 0 0 0 0 23
$200,000 to $249,999 15 0 0 0 0 8 6
$250,000 to $299,999 3 0 0 0 0 0 3
$300,000 or more 0 0 0 0 0 0 0
Not reported 8 0 0 0 0 0 8
Median 60064 72006 0 0 118687 82849 48427
Mean 72952 76854 0 0 93710 89614 68429

Current Interest Rate on First Mortgage

Less than 6.0 percent
168 0 0 0 0 22 146
6.0 percent 0 0 0 0 0 0 0
6.1 to 6.4 percent 8 0 0 0 0 0 8
6.5 to 6.9 percent 34 0 0 0 0 21 13
7.0 percent 29 0 0 0 0 7 22
7.1 to 7.4 percent 9 0 0 0 0 0 9
7.5 to 7.9 percent 37 12 0 0 0 0 24
8.0 percent 11 8 0 0 0 0 2
8.1 to 8.4 percent 10 0 0 0 0 0 10
8.5 to 8.9 percent 49 0 0 0 0 9 40
9.0 percent 0 0 0 0 0 0 0
9.1 to 9.4 percent 8 0 0 0 0 0 8
9.5 to 9.9 percent 0 0 0 0 0 0 0
10.0 percent 0 0 0 0 0 0 0
10.1 to 10.4 percent 6 6 0 0 0 0 0
10.5 to 10.9 percent 0 0 0 0 0 0 0
11.0 percent 12 6 0 0 0 0 6
11.1 to 12.9 percent 26 12 0 0 0 0 14
13.0 percent 0 0 0 0 0 0 0
13.1 percent or more 69 0 0 0 9 15 45
Not reported 0 0 0 0 0 0 0
Median 7.1 10.2 0.0 0.0 56.5 6.9 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
0 0 0 0 0 0 0
Constant payment 0 0 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Properties without interest
rate buydown
210 19 0 0 0 43 148
Not reported 265 26 0 0 9 30 200

Term of First Mortgage

Less than 5 years
6 0 0 0 0 0 6
5 years 0 0 0 0 0 0 0
6 to 9 years 0 0 0 0 0 0 0
10 years 13 0 0 0 0 6 7
11 to 14 years 0 0 0 0 0 0 0
15 years 74 0 0 0 0 15 59
16 to 19 years 0 0 0 0 0 0 0
20 years 13 0 0 0 0 13 0
21 to 24 years 0 0 0 0 0 0 0
25 years 8 0 0 0 0 0 8
26 to 29 years 0 0 0 0 0 0 0
30 years 142 45 0 0 0 23 74
More than 30 years 0 0 0 0 0 0 0
No stated term 219 0 0 0 9 15 194
Median 30 31 0 0 0 21 26

Unexpired Term of First Mortgage

Less than 5 years
8 0 0 0 0 0 8
5 to 9 years 16 0 0 0 0 6 9
10 to 14 years 79 0 0 0 0 15 63
15 to 19 years 42 6 0 0 0 13 23
20 to 24 years 20 13 0 0 0 0 7
25 to 29 years 85 25 0 0 0 17 43
30 or more years 6 0 0 0 0 6 0
No stated term or not computed 219 0 0 0 9 15 194
Median 18 26 0 0 0 18 15

Holder of First Mortgage

Commercial bank or trust company
110 5 0 0 2 6 97
Savings and loan association, federal
savings bank
54 6 0 0 0 0 48
Mutual savings bank 49 6 0 0 0 5 37
Life insurance company 5 0 0 0 0 0 5
Mortgage banker or mortgage company 37 6 0 0 0 24 7
Federally-sponsored secondary market
agency or pool
124 13 0 0 0 37 74
Conventional mortgage pool 6 0 0 0 0 0 6
Other federal agency 23 8 0 0 7 0 7
Real estate investment trust 7 0 0 0 0 0 7
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 7 0 0 0 0 0 7
Finance company 0 0 0 0 0 0 0
State or municipal government or
housing finance agency
32 0 0 0 0 0 32
Individual or individual's estate 9 0 0 0 0 0 9
Other 12 0 0 0 0 0 12

Servicer of First Mortgage

Commercial bank or trust company
120 5 0 0 2 6 107
Savings and loan association, federal
savings bank
61 6 0 0 0 0 55
Mutual savings bank 42 0 0 0 0 5 37
Life insurance company 5 0 0 0 0 0 5
Mortgage banker or mortgage company 164 25 0 0 0 61 77
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 23 8 0 0 7 0 7
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 7 0 0 0 0 0 7
Finance company 0 0 0 0 0 0 0
State or municipal government or
housing finance agency
32 0 0 0 0 0 32
Individual or individual's estate 9 0 0 0 0 0 9
Other 12 0 0 0 0 0 12

Holder's Acquisition of First Mortgage

Originated directly from borrower
230 18 0 0 2 35 176
Purchased from present servicer 120 14 0 0 0 22 84
Purchased from someone else 125 13 0 0 7 16 88
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
344 33 0 0 9 58 244
Less than 40 percent 8 0 0 0 2 5 1
40 to 49 percent 9 0 0 0 0 0 9
50 to 59 percent 5 0 0 0 0 0 5
60 to 69 percent 12 0 0 0 0 0 12
70 to 79 percent 80 7 0 0 0 9 65
80 to 89 percent 81 0 0 0 0 15 66
90 to 94 percent 26 14 0 0 0 6 5
95 to 99 percent 13 6 0 0 7 0 0
100 percent or more 101 6 0 0 0 23 71
Not reported 8 0 0 0 0 0 8
Median 87 93 0 0 97 90 84
Other properties 130 11 0 0 0 15 104
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
344 33 0 0 9 58 244
Less than 40 percent 7 0 0 0 2 5 0
40 to 49 percent 16 0 0 0 0 0 16
50 to 59 percent 5 0 0 0 0 0 5
60 to 69 percent 32 0 0 0 0 6 25
70 to 79 percent 78 7 0 0 0 17 54
80 to 89 percent 95 0 0 0 0 15 80
90 to 94 percent 21 14 0 0 0 6 0
95 to 99 percent 13 6 0 0 7 0 0
100 percent or more 69 6 0 0 0 8 54
Not reported 8 0 0 0 0 0 8
Median 83 93 0 0 97 80 82
Other properties 130 11 0 0 0 15 104
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
26 7 0 0 0 0 19
Not subprime loan 448 38 0 0 9 73 329
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
344 33 0 0 9 58 244
Less than 40 percent 8 0 0 0 2 5 1
40 to 49 percent 9 0 0 0 0 0 9
50 to 59 percent 5 0 0 0 0 0 5
60 to 69 percent 12 0 0 0 0 0 12
70 to 79 percent 80 7 0 0 0 9 65
80 to 89 percent 73 0 0 0 0 15 58
90 to 94 percent 26 14 0 0 0 6 5
95 to 99 percent 21 6 0 0 7 0 8
100 percent or more 101 6 0 0 0 23 71
Not reported 8 0 0 0 0 0 8
Median 87 93 0 0 97 90 84
Other properties 130 11 0 0 0 15 104
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
344 33 0 0 9 58 244
Less than 40 percent 34 0 0 0 2 13 19
40 to 49 percent 51 6 0 0 0 17 28
50 to 59 percent 41 8 0 0 0 13 20
60 to 69 percent 54 0 0 0 7 0 46
70 to 79 percent 80 19 0 0 0 15 46
80 to 89 percent 30 0 0 0 0 0 30
90 to 94 percent 12 0 0 0 0 0 12
95 to 99 percent 0 0 0 0 0 0 0
100 percent or more 34 0 0 0 0 0 34
Not reported 8 0 0 0 0 0 8
Median 68 71 0 0 64 49 71
Other properties 130 11 0 0 0 15 104
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
27 0 0 0 2 5 20
20 to 29 percent 36 5 0 0 0 9 22
30 to 39 percent 40 0 0 0 0 16 23
40 to 49 percent 74 6 0 0 0 14 54
50 to 59 percent 81 8 0 0 0 21 51
60 to 69 percent 60 7 0 0 7 0 46
70 to 79 percent 66 18 0 0 0 7 40
80 to 89 percent 25 0 0 0 0 0 25
90 to 99 percent 23 0 0 0 0 0 23
100 percent or more 36 0 0 0 0 0 36
Not reported or not computed 8 0 0 0 0 0 8
Median 57 64 0 0 64 44 60

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
123 5 0 0 0 6 112
Treasury security 42 0 0 0 0 0 42
Average cost of funds in bank district 0 0 0 0 0 0 0
National average cost of funds 6 0 0 0 0 6 0
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 19 0 0 0 0 0 19
No index used 0 0 0 0 0 0 0
Not reported 56 5 0 0 0 0 51
Other properties 351 39 0 0 9 67 236
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
123 5 0 0 0 6 112
Monthly 12 0 0 0 0 6 6
Every 3 months 5 0 0 0 0 0 5
Every 6 months 6 0 0 0 0 0 6
Yearly 26 0 0 0 0 0 26
Every 3 years 7 0 0 0 0 0 7
Every 5 years 11 0 0 0 0 0 11
Other 8 0 0 0 0 0 8
Not reported 49 5 0 0 0 0 44
Other properties 351 39 0 0 9 67 236
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
123 5 0 0 0 6 112
Less than 1 percent 0 0 0 0 0 0 0
1 percent 8 0 0 0 0 0 8
1.1 to 1.9 percent 0 0 0 0 0 0 0
2 percent 23 0 0 0 0 0 23
2.1 to 2.9 percent 0 0 0 0 0 0 0
3 percent 4 0 0 0 0 0 4
3.1 to 3.9 percent 0 0 0 0 0 0 0
4.0 percent or more 12 0 0 0 0 6 6
No caps 20 0 0 0 0 0 20
Not reported 56 5 0 0 0 0 51
Other properties 351 39 0 0 9 67 236
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
123 5 0 0 0 6 112
Less than 1 percent 0 0 0 0 0 0 0
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 47 0 0 0 0 6 41
No caps 20 0 0 0 0 0 20
Not reported 56 5 0 0 0 0 51
Other properties 351 39 0 0 9 67 236
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
123 5 0 0 0 6 112
Yes, rate has changed 56 0 0 0 0 6 50
No change since mortgage made 11 0 0 0 0 0 11
Not reported 56 5 0 0 0 0 51
Other properties 351 39 0 0 9 67 236
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
8 0 0 0 0 0 8
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 8 0 0 0 0 0 8
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
410 39 0 0 9 73 289
Not reported 56 5 0 0 0 0 51

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
8 0 0 0 0 0 8
Yes, unrestricted negative amortization 0 0 0 0 0 0 0
Yes, restricted negative amortization 8 0 0 0 0 0 8
No negative amortization allowed 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 410 39 0 0 9 73 289
Not reported 56 5 0 0 0 0 51

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
452 37 0 0 9 73 333
Interest and principal 446 37 0 0 9 73 328
Fully amortized 420 31 0 0 9 73 306
Not fully amortized 27 5 0 0 0 0 21
Interest only 6 0 0 0 0 0 6
No regular payments required 0 0 0 0 0 0 0
Not reported 23 8 0 0 0 0 15

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
446 37 0 0 9 73 328
Real estate taxes 133 19 0 0 0 46 68
Property insurance 106 19 0 0 0 46 41
Mortgage insurance 21 6 0 0 0 15 0
Other 41 6 0 0 0 14 20
No items included or not reported 313 18 0 0 9 27 260
No regular payments of interest
and principal
28 8 0 0 0 0 20

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
452 37 0 0 9 73 333
Less than $100 13 6 0 0 0 7 0
$100 to $199 24 6 0 0 0 6 12
$200 to $299 26 6 0 0 0 8 12
$300 to $399 51 0 0 0 0 0 51
$400 to $499 85 0 0 0 0 0 85
$500 to $599 30 0 0 0 0 5 24
$600 to $699 27 0 0 0 0 8 19
$700 to $799 21 0 0 0 0 0 21
$800 to $899 30 7 0 0 0 0 23
$900 to $999 21 6 0 0 0 6 8
$1,000 to $1,249 38 0 0 0 7 7 23
$1,250 to $1,499 20 0 0 0 0 8 12
$1,500 or more 67 5 0 0 2 17 43
Median 593 800 0 0 1157 936 532
Mean 812 642 0 0 1389 893 798
No regular payments required 0 0 0 0 0 0 0
Not reported 23 8 0 0 0 0 15

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
474 45 0 0 9 73 348
Up-to-date, ahead of schedule, or
less than 90 days past due
223 19 0 0 0 58 147
Delinquent by 90 days or more 0 0 0 0 0 0 0
Legal proceedings have begun 0 0 0 0 0 0 0
Legal proceedings have not begun 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Not reported 251 26 0 0 9 15 201
Other properties 0 0 0 0 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
458 37 0 0 9 73 340
Less than $100 13 6 0 0 0 7 0
$100 to $199 25 6 0 0 0 6 13
$200 to $299 26 6 0 0 0 8 12
$300 to $399 51 0 0 0 0 0 51
$400 to $499 76 0 0 0 0 0 76
$500 to $599 35 0 0 0 0 5 30
$600 to $699 35 0 0 0 0 8 28
$700 to $799 21 0 0 0 0 0 21
$800 to $899 30 7 0 0 0 0 23
$900 to $999 21 6 0 0 0 6 8
$1,000 to $1,249 38 0 0 0 7 7 23
$1,250 to $1,499 20 0 0 0 0 8 12
$1,500 or more 67 5 0 0 2 17 43
Median 609 800 0 0 1157 936 562
Mean 812 642 0 0 1389 893 797
No regular monthly payments
required
16 8 0 0 0 0 8

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

Acquired before 2000 and
regular payments of interest
and/or princi
385 37 0 0 0 67 281
Less than 20 percent 31 11 0 0 0 13 8
20 to 29 percent 14 0 0 0 0 0 14
30 to 39 percent 35 0 0 0 0 24 11
40 to 49 percent 27 0 0 0 0 9 18
50 to 59 percent 23 0 0 0 0 6 17
60 to 69 percent 26 6 0 0 0 0 20
70 to 79 percent 30 0 0 0 0 0 30
80 to 89 percent 42 0 0 0 0 15 27
90 to 99 percent 17 0 0 0 0 0 17
100 percent or more 99 19 0 0 0 0 80
Not reported or not computed 39 0 0 0 0 0 39
Median 75 5019 0 0 0 39 81
Other properties 90 8 0 0 9 6 67

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

Acquired before 2000 and regular
payments of interest and/or
principal
391 37 0 0 0 67 288
Less than 20 percent 31 11 0 0 0 13 8
20 to 29 percent 21 0 0 0 0 0 21
30 to 39 percent 35 0 0 0 0 24 11
40 to 49 percent 27 0 0 0 0 9 18
50 to 59 percent 18 0 0 0 0 6 11
60 to 69 percent 26 6 0 0 0 0 20
70 to 79 percent 21 0 0 0 0 0 21
80 to 89 percent 42 0 0 0 0 15 27
90 to 99 percent 17 0 0 0 0 0 17
100 percent or more 114 19 0 0 0 0 94
Not reported or not computed 39 0 0 0 0 0 39
Median 79 5019 0 0 0 39 85
Other properties 83 8 0 0 9 6 60

Real Estate Tax

Acquired before 2000
407 45 0 0 0 67 296
Less than $100 0 0 0 0 0 0 0
$100 to $199 0 0 0 0 0 0 0
$200 to $299 0 0 0 0 0 0 0
$300 to $399 23 6 0 0 0 0 17
$400 to $499 17 0 0 0 0 0 17
$500 to $599 9 6 0 0 0 0 2
$600 to $699 27 0 0 0 0 8 19
$700 to $799 23 0 0 0 0 6 17
$800 to $899 13 7 0 0 0 0 7
$900 to $999 0 0 0 0 0 0 0
$1,000 to $1,249 60 0 0 0 0 16 44
$1,250 to $1,499 15 0 0 0 0 0 15
$1,500 to $1,999 70 6 0 0 0 15 49
$2,000 to $2,499 32 0 0 0 0 0 32
$2,500 or more 111 20 0 0 0 22 69
Not reported 8 0 0 0 0 0 8
Median 1589 1769 0 0 0 1629 1556
Mean 2360 3925 0 0 0 2564 2070
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

Real Estate Tax Per $1,000 Value

Acquired before 2000
407 45 0 0 0 67 296
Less than $5 8 0 0 0 0 8 0
$5 to $9 103 13 0 0 0 20 69
$10 to $14 46 0 0 0 0 7 39
$15 to $19 98 6 0 0 0 17 75
$20 to $24 36 13 0 0 0 8 16
$25 to $29 25 6 0 0 0 0 19
$30 to $39 83 6 0 0 0 6 70
$40 to $49 0 0 0 0 0 0 0
$50 to $59 0 0 0 0 0 0 0
$60 or more 0 0 0 0 0 0 0
Not reported or not computed 8 0 0 0 0 0 8
Median 17 21 0 0 0 13 17
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
407 45 0 0 0 67 296
Less than 5 percent 16 0 0 0 0 8 8
5 to 9 percent 73 12 0 0 0 21 40
10 to 14 percent 81 6 0 0 0 7 67
15 to 19 percent 61 0 0 0 0 17 44
20 to 24 percent 33 8 0 0 0 14 12
25 to 29 percent 45 6 0 0 0 0 39
30 to 34 percent 12 6 0 0 0 0 6
35 to 39 percent 10 0 0 0 0 0 10
40 percent or more 29 6 0 0 0 0 22
Not reported or not computed 48 0 0 0 0 0 48
Median 16 23 0 0 0 13 16
Acquired 2000 and 2001 (part) 67 0 0 0 9 6 52

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