U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - Midwest
Table 4-3c. 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
914 92 7 18 37 94 666

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
599 49 7 14 7 77 445
In central cities 316 16 7 6 7 43 237
Not in central cities 284 34 0 8 0 34 208
Outside MAs 314 43 0 4 30 17 220

Manner of Acquisition

By purchase
861 87 7 18 29 94 626
Placed one new mortgage 762 70 7 18 29 87 551
Placed two or more new mortgages 26 0 0 0 0 0 26
Assumed mortgage(s) already on property 53 11 0 0 0 7 35
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
5 0 0 0 0 0 5
Paid all cash-no borrowing 9 5 0 0 0 0 4
Other manner 5 0 0 0 0 0 5
By inheritance or gift 0 0 0 0 0 0 0
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 8 0 0 0 8 0 0
By some other manner 26 5 0 0 0 0 21
Not reported 19 0 0 0 0 0 19

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
541 76 0 18 20 69 357
Sale of stock or other partnership
shares for this project
7 7 0 0 0 0 0
Sale of previously owned stocks,
shares, or other securities
8 7 0 0 0 0 1
Sale of land or other real estate 43 0 0 0 0 9 33
Owner's cash, bank deposits,
share accounts, or bonds
316 47 0 11 8 27 224
Borrowing from a retirement plan 12 0 0 0 0 7 5
Borrowing using assets other than this
property as collateral
27 16 0 0 0 0 11
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 0 0 0 0 0 0 0
From parents or relatives 24 0 0 0 0 0 24
Other cash source 19 0 0 0 0 0 19
Non-cash source 0 0 0 0 0 0 0
No downpayment required 88 4 0 8 12 18 45
Not reported 39 13 0 0 0 0 26
Other properties 359 16 7 0 17 24 295
Not reported 13 0 0 0 0 0 13

Year Property Acquired

1999 to 2001 (part)
258 54 0 6 20 44 133
1997 and 1998 154 22 0 0 0 15 118
1995 and 1996 157 0 0 12 0 10 135
1990 to 1994 135 6 0 0 9 13 108
1985 to 1989 109 5 7 0 8 7 82
1980 to 1984 34 0 0 0 0 4 30
1975 to 1979 32 0 0 0 0 0 32
1970 to 1974 16 5 0 0 0 0 11
1969 or earlier 19 0 0 0 0 0 19

Building and Land Acquisition

Acquired at same time
864 82 7 14 37 90 634
Not acquired at same time 18 5 0 4 0 0 9
Land not owned by building owner 10 5 0 0 0 0 5
Not reported 22 0 0 0 0 4 18

Property New or Previously Owned When
Acquired

Acquired by purchase
861 87 7 18 29 94 626
New 78 5 0 0 0 9 64
Previously owned 774 74 7 18 29 85 561
As residential property 773 74 7 18 29 85 560
Converted from nonresidential use 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 9 7 0 0 0 0 1
Other properties 34 5 0 0 8 0 21
Not reported 19 0 0 0 0 0 19

Year Structure Built

1999 to March 2000
48 0 0 0 0 24 23
1997 and 1998 28 0 0 0 0 8 21
1995 and 1996 29 0 0 0 0 10 19
1990 to 1994 21 0 0 0 0 0 21
1980 to 1989 55 5 0 0 14 0 36
1970 to 1979 83 14 7 0 0 13 48
1960 to 1969 84 17 0 0 0 4 62
1950 to 1959 200 0 0 6 0 24 170
1940 to 1949 116 19 0 8 8 11 70
1939 or earlier 250 36 0 4 15 0 195

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
388 76 0 6 20 59 226
Less than $20,000 51 12 0 0 0 8 32
$20,000 to $39,999 46 8 0 0 8 7 23
$40,000 to $59,999 99 4 0 6 7 0 82
$60,000 to $79,999 51 18 0 0 6 0 28
$80,000 to $99,999 52 17 0 0 0 22 13
$100,000 to $124,999 7 7 0 0 0 0 0
$125,000 to $149,999 28 0 0 0 0 8 20
$150,000 to $174,999 24 9 0 0 0 5 9
$175,000 to $199,999 13 0 0 0 0 0 13
$200,000 to $249,999 15 0 0 0 0 9 5
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 to $499,999 1 0 0 0 0 0 1
$500,000 or more 0 0 0 0 0 0 0
Median 59389 75196 0 50000 46112 93142 54310
Mean 75616 73880 0 49795 52564 103566 71639
Other properties 525 16 7 12 17 34 439

Value

Less than $20,000
49 5 0 0 0 18 26
$20,000 to $39,999 109 20 0 0 0 4 85
$40,000 to $59,999 170 0 0 11 16 0 143
$60,000 to $79,999 197 14 7 8 9 21 139
$80,000 to $99,999 146 6 0 0 7 14 120
$100,000 to $124,999 42 13 0 0 6 8 15
$125,000 to $149,999 76 21 0 0 0 15 40
$150,000 to $174,999 50 13 0 0 0 5 32
$175,000 to $199,999 31 0 0 0 0 0 31
$200,000 to $249,999 26 0 0 0 0 9 17
$250,000 to $299,999 9 0 0 0 0 0 9
$300,000 to $499,999 7 0 0 0 0 0 7
$500,000 or more 1 0 0 0 0 0 1
Median 73086 103153 70000 57601 65052 86483 71260
Mean 84505 88058 70000 54907 66782 93190 84751

Purchase Price as Percent of Value@8

Acquired by purchase
861 87 7 18 29 94 626
Purchased 1997 to 2001 (part) 388 76 0 6 20 59 226
Less than 60 percent 38 9 0 0 7 7 16
60 to 69 percent 19 0 0 0 0 0 19
70 to 79 percent 57 24 0 0 6 0 27
80 to 99 percent 161 24 0 0 8 45 84
100 percent or more 114 19 0 6 0 7 81
Median 90 84 0 4651 76 90 92
Purchased 1990 to 1996 (part) 288 6 0 12 9 23 238
Less than 40 percent 43 0 0 4 0 0 39
40 to 59 percent 54 6 0 0 0 0 48
60 to 79 percent 108 0 0 8 0 4 96
80 to 99 percent 42 0 0 0 9 0 34
100 percent or more 40 0 0 0 0 19 22
Median 69 50 0 65 90 3906 67
Purchased 1989 or earlier 185 5 7 0 0 11 161
Less than 20 percent 12 5 0 0 0 0 6
20 to 39 percent 26 0 0 0 0 0 26
40 to 59 percent 31 0 0 0 0 0 31
60 to 79 percent 66 0 7 0 0 0 58
80 to 99 percent 6 0 0 0 0 0 6
100 percent or more 44 0 0 0 0 11 33
Median 67 10 70 0 0 3176 66
Not acquired by purchase 53 5 0 0 8 0 40

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
439 47 0 18 20 28 325
Less than $500 12 0 0 0 0 4 8
$500 to $999 31 0 0 0 0 0 31
$1,000 to $2,499 84 0 0 6 6 7 65
$2,500 to $4,999 79 22 0 0 0 0 57
$5,000 to $7,499 119 12 0 12 8 17 69
$7,500 to $9,999 49 6 0 0 0 0 43
$10,000 to $14,999 21 0 0 0 0 0 21
$15,000 to $19,999 23 0 0 0 7 0 17
$20,000 to $29,999 14 7 0 0 0 0 6
$30,000 or more 8 0 0 0 0 0 8
Median 5300 5319 0 5582 6399 5448 5083
Mean 6566 7589 0 4023 7131 4345 6722
Properties with no capital
improvements between 1998 and 2000
398 40 7 0 17 59 275
Capital improvements not
reported
77 5 0 0 0 7 65

Monthly Rental Receipts

Acquired before 2000
775 37 7 18 31 64 616
Less than $100 14 0 0 0 0 0 14
$100 to $199 58 0 0 0 0 10 48
$200 to $299 35 0 0 0 0 0 35
$300 to $399 92 0 0 0 8 4 80
$400 to $499 128 0 0 4 8 0 116
$500 to $599 105 0 0 0 0 12 93
$600 to $799 128 6 0 14 0 9 99
$800 to $999 50 17 0 0 7 8 19
$1000 or more 99 10 0 0 0 15 75
No rental receipts 67 5 7 0 9 7 39
Median 527 926 0 672 440 665 497
Mean 1255 899 0 620 357 768 1406
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

Rental Receipts as Percent of Value@8

Acquired before 2000
775 37 7 18 31 64 616
Less than 5 percent 51 0 0 0 0 0 51
5 to 9 percent 245 15 0 0 8 0 222
10 to 14 percent 333 12 0 18 15 53 235
15 to 19 percent 26 0 0 0 0 4 22
20 to 24 percent 24 6 0 0 0 0 18
25 to 29 percent 6 0 0 0 0 0 6
30 to 39 percent 0 0 0 0 0 0 0
40 percent or more 9 0 0 0 0 0 9
Median 11 10 0 13 11 13 10
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
775 37 7 18 31 64 616
Less than 1.0 percent 308 16 0 0 15 16 262
1.0 to 2.9 percent 0 0 0 0 0 0 0
3.0 to 4.9 percent 7 5 0 0 0 0 2
5.0 to 6.9 percent 0 0 0 0 0 0 0
7.0 to 8.9 percent 22 0 0 0 0 0 22
9.0 to 10.9 percent 0 0 0 0 0 0 0
11.0 to 12.9 percent 18 0 0 0 0 9 9
13.0 to 14.9 percent 1 0 0 0 0 0 1
15.0 percent or more 67 0 0 8 8 0 51
Not reported or not computed 350 17 7 11 9 39 268
Median 0.7 0.7 0.0 57.5 0.8 0.8 0.7
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

Age Restrictions

Property restricted to people
age 55 or older
105 9 0 4 6 10 76
Property not restricted to people
age 55 or older
789 82 7 14 31 84 570
Not reported 20 0 0 0 0 0 20

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
4 0 0 4 0 0 0
Government rental subsidy 41 6 0 0 0 0 36
Government grant 0 0 0 0 0 0 0
Property tax relief 0 0 0 0 0 0 0
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 0 0 0 0 0 0 0
None of the above benefits 784 63 7 14 37 82 580
Not reported 84 23 0 0 0 12 50

Source of Property Benefits@1

With property benefits
46 6 0 4 0 0 36
Federal government 14 6 0 0 0 0 9
State government 11 0 0 4 0 0 7
Local government 20 0 0 0 0 0 20
Non-profit corporation 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
With no property benefits 784 63 7 14 37 82 580
Not reported 84 23 0 0 0 12 50

Reason for Benefits@1

With property benefits
46 6 0 4 0 0 36
Occupied by low- or moderate-income
individuals
46 6 0 4 0 0 36
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 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
With no property benefits 784 63 7 14 37 82 580
Not reported 84 23 0 0 0 12 50

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
781 82 7 18 37 68 569
Limited partnership 57 0 0 0 0 26 31
Joint venture 5 0 0 0 0 0 5
General partnership 6 0 0 0 0 0 6
Life insurance company 3 0 0 0 0 0 3
Depository institution 0 0 0 0 0 0 0
Public real estate investment trust 4 4 0 0 0 0 0
Private real estate investment trust 5 0 0 0 0 0 5
Corporation - other than real estate
investment trust
42 6 0 0 0 0 36
Housing cooperative organization 0 0 0 0 0 0 0
Non-profit or church-related institution 11 0 0 0 0 0 11
Pension fund 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
787 79 0 14 37 94 563
2 mortgages 100 13 7 4 0 0 76
3 or more mortgages 27 0 0 0 0 0 27

Form of Debt of First Mortgage

Mortgage or deed of trust
914 92 7 18 37 94 666
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
6 0 0 0 0 0 6
By telephone or FAX 68 9 0 0 0 0 59
By regular mail 13 0 0 0 0 8 5
By personal visit 656 52 0 18 30 75 480
Through third party (such as real
estate agent or builder)
68 0 7 0 0 4 57
Some other way 11 5 0 0 7 0 0
Not reported 45 15 0 0 0 0 30
Not available 47 11 0 0 0 7 29

Origin of First Mortgage

Mortgage made at time property acquired
695 66 7 14 29 87 492
Mortgage assumed at the time property
acquired
52 16 0 0 0 7 29
Mortgage placed later than acquisition of
property
167 9 0 4 8 0 145
Refinanced mortgage 138 4 0 4 0 0 129
Same lender 40 0 0 0 0 0 40
Different lender 98 4 0 4 0 0 90
Mortgage placed on property
owned free and clear of debt
29 5 0 0 8 0 16
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
167 9 0 4 8 0 145
Obtain lower interest rate 59 4 0 0 0 0 55
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
0 0 0 0 0 0 0
Receive cash or increase outstanding
balance of loan
76 0 0 4 8 0 64
Other reason 15 5 0 0 0 0 10
Not reported 16 0 0 0 0 0 16
Other properties 747 82 7 14 29 94 520
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
87 5 0 4 8 0 70
Less than $20,000 46 0 0 4 0 0 41
$20,000 to $39,999 28 0 0 0 8 0 20
$40,000 to $59,999 7 5 0 0 0 0 2
$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 6 0 0 0 0 0 6
$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 19170 50000 0 10000 30000 0 16864
Mean 26084 55000 0 15000 34000 0 23691
Properties that refinanced
and did not receive cash back
41 4 0 0 0 0 37
Properties that refinanced
and did not report if received
cash back
39 0 0 0 0 0 39
Properties that did not
refinance
747 82 7 14 29 94 520
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
87 5 0 4 8 0 70
For additions, improvements or repairs
to this property
48 0 0 4 8 0 36
To consolidate debts 29 0 0 0 0 0 29
For investment in other real estate 27 5 0 0 8 0 14
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 6 0 0 0 0 0 6
To purchase an automobile, truck, or
other vehicle
2 0 0 0 0 0 2
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0 0 0
Other 6 0 0 0 0 0 6
Not reported 0 0 0 0 0 0 0
Properties that refinanced
and did not receive cash back
41 4 0 0 0 0 37
Properties that refinanced
and did not report if received
cash back
39 0 0 0 0 0 39
Properties that did not
refinance
747 82 7 14 29 94 520
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
70 7 0 4 0 0 59
Provide funds for the purchase of this
property
15 0 0 0 0 0 15
Provide funds for additions,
improvements or repairs to this
property
15 0 0 4 0 0 11
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 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 6 0 0 0 0 0 6
Not reported 35 7 0 0 0 0 27
Other properties 844 84 7 14 37 94 607

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
84 5 7 0 0 0 71
Provide funds for additions,
improvements or repairs to this
property
32 0 7 0 0 0 24
Provide funds for consolidation of debts 7 0 0 0 0 0 7
Provide funds for investment in other
real estate
18 5 0 0 0 0 13
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 27 0 0 0 0 0 27
Other properties 830 87 0 18 37 94 594

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
395 59 0 6 20 61 249
1997 and 1998 179 22 0 0 8 8 140
1995 and 1996 135 0 0 12 0 10 113
1990 to 1994 69 6 0 0 9 4 51
1985 to 1989 81 5 7 0 0 7 61
1980 to 1984 24 0 0 0 0 4 20
1979 or earlier 32 0 0 0 0 0 32

Traditional First Mortgage Loan

Less than $20,000
98 22 0 4 0 10 61
$20,000 to $29,999 125 13 7 0 0 12 93
$30,000 to $39,999 113 0 0 8 8 0 97
$40,000 to $49,999 116 6 0 0 0 12 98
$50,000 to $59,999 97 5 0 0 9 7 76
$60,000 to $79,999 114 4 0 0 6 24 80
$80,000 to $99,999 50 16 0 0 7 0 28
$100,000 to $149,999 89 16 0 0 0 8 65
$150,000 to $199,999 62 9 0 0 8 15 31
$200,000 to $249,999 14 0 0 0 0 0 14
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 or more 6 0 0 0 0 0 6
Not reported 30 0 0 6 0 7 17
Median 49140 58778 25000 32453 66592 62225 47439
Mean 65534 69256 23000 30570 84138 72669 64118

Total Mortgage Loan

Less than $20,000
88 22 0 0 0 10 56
$20,000 to $29,999 117 13 7 4 0 12 80
$30,000 to $39,999 119 0 0 8 8 0 103
$40,000 to $49,999 110 6 0 0 0 12 93
$50,000 to $59,999 96 5 0 0 9 7 75
$60,000 to $79,999 124 4 0 0 6 24 90
$80,000 to $99,999 43 9 0 0 7 0 28
$100,000 to $149,999 89 16 0 0 0 8 65
$150,000 to $199,999 78 16 0 0 8 15 39
$200,000 to $249,999 14 0 0 0 0 0 14
$250,000 to $299,999 0 0 0 0 0 0 0
$300,000 or more 6 0 0 0 0 0 6
Not reported 30 0 0 6 0 7 17
Median 50869 58778 25000 32453 66592 62225 49260
Mean 67914 74141 23000 32628 84138 72669 66631

Traditional First Mortgage Outstanding
Debt

Less than $10,000
38 5 0 0 0 0 33
$10,000 to $19,999 114 17 7 4 0 22 63
$20,000 to $29,999 115 13 0 0 0 0 102
$30,000 to $39,999 125 6 0 8 17 4 90
$40,000 to $49,999 113 0 0 0 0 15 99
$50,000 to $59,999 75 5 0 0 0 0 69
$60,000 to $79,999 93 4 0 0 6 24 59
$80,000 to $99,999 65 16 0 0 7 0 42
$100,000 to $149,999 88 25 0 0 0 13 50
$150,000 to $199,999 46 0 0 0 8 9 29
$200,000 to $249,999 5 0 0 0 0 0 5
$250,000 to $299,999 1 0 0 0 0 0 1
$300,000 or more 6 0 0 0 0 0 6
Not reported 30 0 0 6 0 7 17
Median 44404 58778 15000 32453 66592 62225 43641
Mean 59824 67038 18262 28521 74451 69243 57755

Total Mortgage Outstanding Debt

Less than $10,000
34 5 0 0 0 0 29
$10,000 to $19,999 114 17 7 4 0 22 63
$20,000 to $29,999 112 13 0 0 0 0 99
$30,000 to $39,999 125 6 0 8 17 4 90
$40,000 to $49,999 112 0 0 0 0 15 97
$50,000 to $59,999 80 5 0 0 0 0 75
$60,000 to $79,999 93 4 0 0 6 24 59
$80,000 to $99,999 57 9 0 0 7 0 42
$100,000 to $149,999 104 32 0 0 0 13 59
$150,000 to $199,999 46 0 0 0 8 9 29
$200,000 to $249,999 5 0 0 0 0 0 5
$250,000 to $299,999 1 0 0 0 0 0 1
$300,000 or more 6 0 0 0 0 0 6
Not reported 25 0 0 6 0 7 12
Median 45343 58778 15000 32453 66592 62225 44710
Mean 60075 71391 18262 19482 74451 64192 58722

Current Interest Rate on First Mortgage

Less than 6.0 percent
329 17 0 11 6 19 277
6.0 percent 0 0 0 0 0 0 0
6.1 to 6.4 percent 6 0 0 0 0 0 6
6.5 to 6.9 percent 44 0 0 0 17 0 28
7.0 percent 67 7 0 0 0 8 51
7.1 to 7.4 percent 77 12 0 0 0 0 65
7.5 to 7.9 percent 75 9 0 0 0 9 57
8.0 percent 18 0 0 0 0 0 18
8.1 to 8.4 percent 22 0 0 0 0 0 22
8.5 to 8.9 percent 45 0 0 0 0 13 32
9.0 percent 34 0 0 0 0 7 27
9.1 to 9.4 percent 0 0 0 0 0 0 0
9.5 to 9.9 percent 8 5 0 0 0 0 3
10.0 percent 0 0 0 0 0 0 0
10.1 to 10.4 percent 0 0 0 0 0 0 0
10.5 to 10.9 percent 7 0 0 0 0 7 0
11.0 percent 17 14 0 0 0 0 3
11.1 to 12.9 percent 17 0 0 0 0 12 6
13.0 percent 0 0 0 0 0 0 0
13.1 percent or more 147 27 7 8 15 19 71
Not reported 0 0 0 0 0 0 0
Median 7.2 8.0 56.5 5.3 6.9 8.9 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
6 0 0 0 0 0 6
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 6 0 0 0 0 0 6
Properties without interest
rate buydown
368 30 0 0 17 39 282
Not reported 539 62 7 18 20 55 377

Term of First Mortgage

Less than 5 years
12 0 0 0 0 0 12
5 years 22 0 0 0 0 0 22
6 to 9 years 6 0 0 0 0 0 6
10 years 28 0 0 0 0 0 28
11 to 14 years 12 0 0 0 0 0 12
15 years 81 0 0 0 9 0 72
16 to 19 years 0 0 0 0 0 0 0
20 years 46 0 0 0 8 8 30
21 to 24 years 0 0 0 0 0 0 0
25 years 1 0 0 0 0 0 1
26 to 29 years 0 0 0 0 0 0 0
30 years 298 92 7 0 0 48 151
More than 30 years 0 0 0 0 0 0 0
No stated term 408 0 0 18 20 38 332
Median 30 31 31 0 16 30 20

Unexpired Term of First Mortgage

Less than 5 years
44 0 0 0 0 0 44
5 to 9 years 65 5 0 0 9 0 51
10 to 14 years 58 0 0 0 0 4 54
15 to 19 years 66 6 7 0 8 8 36
20 to 24 years 19 0 0 0 0 0 19
25 to 29 years 182 34 0 0 0 44 104
30 or more years 73 47 0 0 0 0 26
No stated term or not computed 408 0 0 18 20 38 332
Median 25 31 18 0 10 27 17

Holder of First Mortgage

Commercial bank or trust company
216 30 0 8 14 8 156
Savings and loan association, federal
savings bank
100 0 0 0 0 4 96
Mutual savings bank 20 6 7 0 0 0 7
Life insurance company 13 0 0 0 0 0 13
Mortgage banker or mortgage company 45 12 0 0 0 0 33
Federally-sponsored secondary market
agency or pool
336 40 0 6 23 40 227
Conventional mortgage pool 33 0 0 0 0 23 10
Other federal agency 27 4 0 0 0 0 23
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 10 0 0 0 0 0 10
Finance company 38 0 0 0 0 10 29
State or municipal government or
housing finance agency
43 0 0 4 0 9 29
Individual or individual's estate 24 0 0 0 0 0 24
Other 9 0 0 0 0 0 9

Servicer of First Mortgage

Commercial bank or trust company
254 23 0 8 14 23 186
Savings and loan association, federal
savings bank
106 0 0 0 9 11 86
Mutual savings bank 14 0 7 0 0 0 7
Life insurance company 13 0 0 0 0 0 13
Mortgage banker or mortgage company 382 65 0 6 15 46 250
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 27 4 0 0 0 0 23
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0 0 0
Credit union 10 0 0 0 0 0 10
Finance company 33 0 0 0 0 4 29
State or municipal government or
housing finance agency
43 0 0 4 0 9 29
Individual or individual's estate 24 0 0 0 0 0 24
Other 9 0 0 0 0 0 9

Holder's Acquisition of First Mortgage

Originated directly from borrower
511 25 7 12 28 29 410
Purchased from present servicer 183 25 0 0 9 33 117
Purchased from someone else 220 42 0 6 0 32 139
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
709 77 7 14 29 94 487
Less than 40 percent 11 11 0 0 0 0 0
40 to 49 percent 21 0 0 0 0 7 14
50 to 59 percent 10 0 7 0 0 0 2
60 to 69 percent 72 0 0 0 0 0 72
70 to 79 percent 55 0 0 0 0 0 55
80 to 89 percent 135 12 0 0 9 32 82
90 to 94 percent 58 6 0 0 0 18 34
95 to 99 percent 53 12 0 0 0 4 37
100 percent or more 265 37 0 8 20 25 174
Not reported 30 0 0 6 0 7 17
Median 93 99 55 50050 28924 91 92
Other properties 205 14 0 4 8 0 178
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
709 77 7 14 29 94 487
Less than 40 percent 15 11 0 0 0 0 5
40 to 49 percent 32 0 0 0 0 7 25
50 to 59 percent 7 0 7 0 0 0 0
60 to 69 percent 124 0 0 0 0 0 124
70 to 79 percent 149 0 0 0 9 23 118
80 to 89 percent 91 12 0 0 0 24 54
90 to 94 percent 35 0 0 0 0 5 30
95 to 99 percent 46 12 0 0 0 17 17
100 percent or more 179 43 0 8 20 10 98
Not reported 30 0 0 6 0 7 17
Median 81 1084 55 5050 2956 85 77
Other properties 205 14 0 4 8 0 178
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
79 0 0 0 8 23 47
Not subprime loan 835 92 7 18 29 71 618
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
709 77 7 14 29 94 487
Less than 40 percent 11 11 0 0 0 0 0
40 to 49 percent 21 0 0 0 0 7 14
50 to 59 percent 10 0 7 0 0 0 2
60 to 69 percent 72 0 0 0 0 0 72
70 to 79 percent 42 0 0 0 0 0 42
80 to 89 percent 141 17 0 0 9 32 83
90 to 94 percent 52 0 0 0 0 18 34
95 to 99 percent 59 12 0 0 0 4 43
100 percent or more 271 37 0 8 20 25 180
Not reported 30 0 0 6 0 7 17
Median 94 99 55 50050 28924 91 93
Other properties 205 14 0 4 8 0 178
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
709 77 7 14 29 94 487
Less than 40 percent 59 11 7 0 0 0 41
40 to 49 percent 54 10 0 0 0 7 37
50 to 59 percent 83 0 0 0 0 0 83
60 to 69 percent 122 16 0 8 0 4 94
70 to 79 percent 109 8 0 0 14 32 55
80 to 89 percent 103 0 0 0 15 12 76
90 to 94 percent 27 7 0 0 0 9 11
95 to 99 percent 13 9 0 0 0 4 1
100 percent or more 107 16 0 0 0 18 73
Not reported 30 0 0 6 0 7 17
Median 72 72 20 65 80 80 68
Other properties 205 14 0 4 8 0 178
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
18 6 0 0 0 0 13
20 to 29 percent 42 0 7 0 0 0 35
30 to 39 percent 73 16 0 4 0 7 46
40 to 49 percent 83 9 0 0 9 0 65
50 to 59 percent 171 12 0 0 0 4 155
60 to 69 percent 78 4 0 8 0 0 66
70 to 79 percent 165 12 0 0 14 36 103
80 to 89 percent 108 0 0 0 7 21 80
90 to 99 percent 44 16 0 0 0 0 28
100 percent or more 106 16 0 0 8 18 64
Not reported or not computed 25 0 0 6 0 7 12
Median 67 67 25 62 77 79 62

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
227 4 7 0 20 22 174
Treasury security 76 0 0 0 8 0 67
Average cost of funds in bank district 7 0 0 0 0 0 7
National average cost of funds 4 0 0 0 0 0 4
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 41 0 0 0 0 15 26
No index used 5 0 0 0 0 0 5
Not reported 95 4 7 0 12 7 64
Other properties 687 87 0 18 17 72 492
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
227 4 7 0 20 22 174
Monthly 13 0 0 0 0 0 13
Every 3 months 0 0 0 0 0 0 0
Every 6 months 22 0 0 0 0 15 7
Yearly 71 0 0 0 8 0 63
Every 3 years 22 0 0 0 0 0 22
Every 5 years 9 0 0 0 0 0 9
Other 0 0 0 0 0 0 0
Not reported 89 4 7 0 12 7 59
Other properties 687 87 0 18 17 72 492
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
227 4 7 0 20 22 174
Less than 1 percent 6 0 0 0 0 0 6
1 percent 4 0 0 0 0 0 4
1.1 to 1.9 percent 5 0 0 0 0 0 5
2 percent 76 0 0 0 8 0 68
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 19 0 0 0 0 15 4
No caps 27 0 0 0 0 0 27
Not reported 89 4 7 0 12 7 59
Other properties 687 87 0 18 17 72 492
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
227 4 7 0 20 22 174
Less than 1 percent 6 0 0 0 0 0 6
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 109 0 0 0 8 15 86
No caps 22 0 0 0 0 0 22
Not reported 89 4 7 0 12 7 59
Other properties 687 87 0 18 17 72 492
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
227 4 7 0 20 22 174
Yes, rate has changed 76 0 0 0 8 0 68
No change since mortgage made 62 0 0 0 0 15 47
Not reported 89 4 7 0 12 7 59
Other properties 687 87 0 18 17 72 492
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
14 0 0 0 0 0 14
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 14 0 0 0 0 0 14
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
819 87 0 18 25 87 601
Not reported 81 4 7 0 12 7 50

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
14 0 0 0 0 0 14
Yes, unrestricted negative amortization 0 0 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0 0 0
No negative amortization allowed 14 0 0 0 0 0 14
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 819 87 0 18 25 87 601
Not reported 81 4 7 0 12 7 50

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
890 92 7 18 37 94 642
Interest and principal 890 92 7 18 37 94 642
Fully amortized 797 92 7 8 37 86 567
Not fully amortized 93 0 0 11 0 8 75
Interest only 0 0 0 0 0 0 0
No regular payments required 0 0 0 0 0 0 0
Not reported 24 0 0 0 0 0 24

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
890 92 7 18 37 94 642
Real estate taxes 208 30 0 0 0 33 146
Property insurance 168 30 0 0 0 33 106
Mortgage insurance 37 12 0 0 0 25 0
Other 59 10 0 0 0 15 34
No items included or not reported 671 62 7 18 37 54 492
No regular payments of interest
and principal
24 0 0 0 0 0 24

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
890 92 7 18 37 94 642
Less than $100 25 17 0 0 0 0 9
$100 to $199 92 0 0 4 0 18 70
$200 to $299 148 8 0 0 0 4 136
$300 to $399 136 17 0 6 8 4 99
$400 to $499 145 24 7 0 9 24 82
$500 to $599 82 0 0 8 0 8 67
$600 to $699 58 12 0 0 7 7 33
$700 to $799 18 0 0 0 0 0 18
$800 to $899 48 9 0 0 0 7 32
$900 to $999 19 4 0 0 0 0 15
$1,000 to $1,249 58 0 0 0 0 22 36
$1,250 to $1,499 8 0 0 0 8 0 0
$1,500 or more 51 0 0 0 6 0 46
Median 430 414 450 380 628 488 409
Mean 555 408 471 378 914 611 554
No regular payments required 0 0 0 0 0 0 0
Not reported 24 0 0 0 0 0 24

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
914 92 7 18 37 94 666
Up-to-date, ahead of schedule, or
less than 90 days past due
435 30 0 0 17 56 333
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 479 62 7 18 20 38 333
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
890 92 7 18 37 94 642
Less than $100 25 17 0 0 0 0 9
$100 to $199 82 0 0 0 0 18 64
$200 to $299 151 8 0 4 0 4 135
$300 to $399 136 17 0 6 8 4 100
$400 to $499 131 24 7 0 9 24 67
$500 to $599 88 0 0 8 0 8 72
$600 to $699 64 12 0 0 7 7 39
$700 to $799 18 0 0 0 0 0 18
$800 to $899 48 9 0 0 0 7 32
$900 to $999 11 4 0 0 0 0 6
$1,000 to $1,249 67 0 0 0 0 22 44
$1,250 to $1,499 17 0 0 0 8 0 9
$1,500 or more 51 0 0 0 6 0 46
Median 438 414 450 380 628 488 419
Mean 570 408 471 405 914 611 574
No regular monthly payments
required
24 0 0 0 0 0 24

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

Acquired before 2000 and
regular payments of interest
and/or princi
751 37 7 18 31 64 592
Less than 20 percent 17 4 0 0 0 0 13
20 to 29 percent 23 6 0 4 0 0 14
30 to 39 percent 31 0 0 0 0 0 31
40 to 49 percent 98 9 0 0 0 0 89
50 to 59 percent 67 6 0 0 0 0 61
60 to 69 percent 86 7 0 6 0 21 50
70 to 79 percent 88 0 0 8 0 25 54
80 to 89 percent 52 0 0 0 7 0 46
90 to 99 percent 36 0 0 0 8 0 28
100 percent or more 172 0 0 0 8 10 154
Not reported or not computed 81 5 7 0 9 7 53
Median 72 47 0 68 96 73 72
Other properties 163 54 0 0 6 30 73

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

Acquired before 2000 and regular
payments of interest and/or
principal
751 37 7 18 31 64 592
Less than 20 percent 17 4 0 0 0 0 13
20 to 29 percent 19 6 0 0 0 0 14
30 to 39 percent 25 0 0 0 0 0 25
40 to 49 percent 96 9 0 4 0 0 83
50 to 59 percent 60 6 0 0 0 0 54
60 to 69 percent 92 7 0 6 0 21 57
70 to 79 percent 91 0 0 8 0 25 58
80 to 89 percent 52 0 0 0 7 0 46
90 to 99 percent 30 0 0 0 8 0 22
100 percent or more 186 0 0 0 8 10 168
Not reported or not computed 81 5 7 0 9 7 53
Median 73 47 0 68 96 73 74
Other properties 163 54 0 0 6 30 73

Real Estate Tax

Acquired before 2000
775 37 7 18 31 64 616
Less than $100 30 0 0 0 0 10 21
$100 to $199 20 0 0 0 0 0 20
$200 to $299 15 0 0 0 0 0 15
$300 to $399 35 0 7 4 0 0 24
$400 to $499 82 0 0 0 8 13 61
$500 to $599 41 0 0 0 0 4 37
$600 to $699 22 0 0 0 0 0 22
$700 to $799 54 6 0 0 0 0 48
$800 to $899 35 5 0 0 0 0 30
$900 to $999 33 0 0 0 8 0 25
$1,000 to $1,249 112 4 0 0 0 7 101
$1,250 to $1,499 55 0 0 6 0 7 41
$1,500 to $1,999 73 5 0 8 7 0 54
$2,000 to $2,499 75 6 0 0 9 0 61
$2,500 or more 81 12 0 0 0 22 47
Not reported 12 0 0 0 0 0 12
Median 1031 1875 350 1451 992 1171 999
Mean 1219 1837 352 1284 1301 1703 1134
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

Real Estate Tax Per $1,000 Value

Acquired before 2000
775 37 7 18 31 64 616
Less than $5 7 0 0 0 0 0 7
$5 to $9 254 6 7 4 0 23 213
$10 to $14 139 9 0 0 8 7 114
$15 to $19 154 0 0 0 0 16 137
$20 to $24 94 10 0 0 15 9 60
$25 to $29 63 0 0 8 9 8 38
$30 to $39 43 7 0 6 0 0 29
$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 12 0 0 0 0 0 12
Median 14 22 8 28 23 15 14
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
775 37 7 18 31 64 616
Less than 5 percent 21 6 0 0 0 0 15
5 to 9 percent 168 0 0 4 0 23 141
10 to 14 percent 153 4 0 0 8 9 132
15 to 19 percent 101 9 0 8 0 7 76
20 to 24 percent 105 6 0 6 15 9 69
25 to 29 percent 55 7 0 0 0 8 40
30 to 34 percent 37 0 0 0 0 0 37
35 to 39 percent 21 0 0 0 0 0 21
40 percent or more 22 0 0 0 0 0 22
Not reported or not computed 92 5 7 0 9 7 64
Median 15 18 0 18 21 13 15
Acquired 2000 and 2001 (part) 139 54 0 0 6 30 49

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