U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - West
Table 4-3e. 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
1214 115 16 7 30 170 877

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
1053 107 16 7 24 154 744
In central cities 412 52 4 7 8 52 289
Not in central cities 640 55 12 1 16 102 455
Outside MAs 161 8 0 0 5 16 133

Manner of Acquisition

By purchase
1140 106 16 7 25 163 824
Placed one new mortgage 1000 90 12 7 19 148 724
Placed two or more new mortgages 22 0 0 0 0 9 13
Assumed mortgage(s) already on property 89 16 4 0 5 0 64
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
0 0 0 0 0 0 0
Paid all cash-no borrowing 10 0 0 0 0 0 10
Other manner 12 0 0 0 0 6 6
By inheritance or gift 33 0 0 0 5 4 24
By divorce 0 0 0 0 0 0 0
By tax free exchange of
other property
8 0 0 0 0 0 8
By foreclosure or assignment 0 0 0 0 0 0 0
By some other manner 4 3 0 0 0 0 2
Not reported 28 6 0 0 0 3 19

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
528 47 0 0 8 106 367
Sale of stock or other partnership
shares for this project
14 0 0 0 0 0 14
Sale of previously owned stocks,
shares, or other securities
8 0 0 0 0 0 8
Sale of land or other real estate 63 0 0 0 0 18 45
Owner's cash, bank deposits,
share accounts, or bonds
316 36 0 0 8 61 212
Borrowing from a retirement plan 8 0 0 0 0 0 8
Borrowing using assets other than this
property as collateral
25 0 0 0 1 10 14
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 6 0 0 0 0 6 0
From parents or relatives 30 9 0 0 0 2 19
Other cash source 12 0 0 0 0 7 5
Non-cash source 5 0 0 0 0 0 5
No downpayment required 42 0 0 0 0 11 31
Not reported 47 7 0 0 0 7 33
Other properties 676 67 16 7 22 61 503
Not reported 10 0 0 0 0 3 7

Year Property Acquired

1999 to 2001 (part)
275 22 0 0 1 54 198
1997 and 1998 169 17 0 0 7 29 115
1995 and 1996 111 8 0 0 0 26 77
1990 to 1994 220 38 6 0 0 23 153
1985 to 1989 196 12 0 1 0 37 147
1980 to 1984 74 6 10 0 0 1 58
1975 to 1979 96 0 0 7 17 0 73
1970 to 1974 55 12 0 0 5 0 38
1969 or earlier 18 0 0 0 0 0 18

Building and Land Acquisition

Acquired at same time
1127 108 16 7 22 151 824
Not acquired at same time 54 1 0 0 8 16 30
Land not owned by building owner 5 0 0 0 0 0 5
Not reported 28 6 0 0 0 3 18

Property New or Previously Owned When
Acquired

Acquired by purchase
1140 106 16 7 25 163 824
New 182 23 0 0 8 16 135
Previously owned 930 77 16 7 17 146 667
As residential property 930 77 16 7 17 146 667
Converted from nonresidential use 0 0 0 0 0 0 0
Other 12 0 0 0 0 0 12
Not reported 16 6 0 0 0 0 10
Other properties 45 3 0 0 5 4 34
Not reported 28 6 0 0 0 3 19

Year Structure Built

1999 to March 2000
25 5 0 0 0 7 13
1997 and 1998 46 0 0 0 0 2 44
1995 and 1996 34 0 0 0 0 18 16
1990 to 1994 93 16 0 0 0 20 56
1980 to 1989 196 26 6 0 0 10 154
1970 to 1979 263 28 10 7 24 40 155
1960 to 1969 124 12 0 0 0 13 100
1950 to 1959 130 0 0 1 0 35 95
1940 to 1949 165 6 0 0 1 20 139
1939 or earlier 137 21 0 0 5 6 106

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
417 39 0 0 8 80 290
Less than $20,000 11 5 0 0 0 0 7
$20,000 to $39,999 24 0 0 0 0 0 24
$40,000 to $59,999 7 0 0 0 0 0 7
$60,000 to $79,999 54 11 0 0 0 4 39
$80,000 to $99,999 33 6 0 0 0 14 13
$100,000 to $124,999 50 6 0 0 0 14 31
$125,000 to $149,999 54 6 0 0 0 10 37
$150,000 to $174,999 24 5 0 0 0 6 14
$175,000 to $199,999 68 0 0 0 7 18 43
$200,000 to $249,999 30 0 0 0 0 6 24
$250,000 to $299,999 24 0 0 0 0 0 24
$300,000 to $499,999 16 1 0 0 1 0 14
$500,000 or more 22 0 0 0 0 8 14
Median 138636 92485 0 0 188447 145699 141809
Mean 164464 96503 0 0 196820 178760 168846
Other properties 797 75 16 7 22 90 587

Value

Less than $20,000
12 6 0 0 0 0 7
$20,000 to $39,999 0 0 0 0 0 0 0
$40,000 to $59,999 35 5 0 0 0 0 30
$60,000 to $79,999 56 6 0 7 0 0 43
$80,000 to $99,999 140 19 4 0 5 18 94
$100,000 to $124,999 171 18 0 0 4 8 141
$125,000 to $149,999 116 11 6 0 0 24 76
$150,000 to $174,999 87 15 0 0 0 15 57
$175,000 to $199,999 113 12 6 0 0 21 75
$200,000 to $249,999 141 20 0 0 12 34 75
$250,000 to $299,999 104 3 0 0 0 13 89
$300,000 to $499,999 160 1 0 0 8 25 126
$500,000 or more 78 0 0 1 0 12 65
Median 171896 132260 142096 70826 222717 199937 170867
Mean 204795 139921 144274 133300 203046 225412 211000

Purchase Price as Percent of Value@8

Acquired by purchase
1140 106 16 7 25 163 824
Purchased 1997 to 2001 (part) 417 39 0 0 8 80 290
Less than 60 percent 77 5 0 0 0 10 62
60 to 69 percent 77 4 0 0 0 11 62
70 to 79 percent 53 0 0 0 0 15 38
80 to 99 percent 151 30 0 0 7 12 102
100 percent or more 59 1 0 0 1 32 26
Median 80 87 0 0 91 86 76
Purchased 1990 to 1996 (part) 319 43 6 0 0 49 222
Less than 40 percent 18 6 0 0 0 0 12
40 to 59 percent 54 4 0 0 0 0 50
60 to 79 percent 129 8 6 0 0 33 82
80 to 99 percent 71 13 0 0 0 16 42
100 percent or more 48 12 0 0 0 0 35
Median 74 86 70 0 0 75 72
Purchased 1989 or earlier 404 24 10 7 17 34 312
Less than 20 percent 63 12 0 0 0 0 50
20 to 39 percent 89 0 0 0 4 6 79
40 to 59 percent 139 6 6 0 13 15 99
60 to 79 percent 55 0 4 0 0 6 44
80 to 99 percent 12 0 0 1 0 6 6
100 percent or more 46 6 0 7 0 0 33
Median 47 19 57 2922 47 54 45
Not acquired by purchase 74 8 0 0 5 7 53

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
562 41 6 7 12 96 399
Less than $500 7 0 0 0 0 0 7
$500 to $999 14 0 0 0 0 0 14
$1,000 to $2,499 68 4 0 1 0 16 47
$2,500 to $4,999 151 21 0 7 12 6 106
$5,000 to $7,499 138 10 6 0 0 41 81
$7,500 to $9,999 25 6 0 0 0 6 13
$10,000 to $14,999 35 0 0 0 0 16 19
$15,000 to $19,999 19 0 0 0 0 0 19
$20,000 to $29,999 41 0 0 0 0 0 41
$30,000 or more 64 0 0 0 0 11 53
Median 5737 4464 6250 3647 3750 6574 5807
Mean 10442 4062 5000 4309 2884 9911 11656
Properties with no capital
improvements between 1998 and 2000
527 66 4 0 12 58 387
Capital improvements not
reported
125 7 6 0 5 16 91

Monthly Rental Receipts

Acquired before 2000
1058 109 16 7 29 123 774
Less than $100 0 0 0 0 0 0 0
$100 to $199 12 0 0 0 0 0 12
$200 to $299 6 0 0 0 0 0 6
$300 to $399 40 0 0 0 0 0 40
$400 to $499 25 13 0 0 0 0 12
$500 to $599 56 7 0 0 0 1 49
$600 to $799 218 18 10 0 0 12 178
$800 to $999 160 23 0 0 9 10 118
$1000 or more 460 30 6 7 15 90 313
No rental receipts 82 19 0 0 5 11 47
Median 965 863 756 5000500 1905465 3752516 914
Mean 1137 810 926 1547 885 1409 1150
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

Rental Receipts as Percent of Value@8

Acquired before 2000
1058 109 16 7 29 123 774
Less than 5 percent 147 7 0 0 0 4 136
5 to 9 percent 480 35 10 0 24 58 352
10 to 14 percent 325 42 6 1 0 46 231
15 to 19 percent 12 0 0 7 0 0 6
20 to 24 percent 2 0 0 0 0 0 2
25 to 29 percent 6 6 0 0 0 0 0
30 to 39 percent 0 0 0 0 0 0 0
40 percent or more 4 0 0 0 0 4 0
Median 9 10 9 17 8 9 8
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
1058 109 16 7 29 123 774
Less than 1.0 percent 461 60 0 0 20 40 341
1.0 to 2.9 percent 7 0 0 0 0 0 7
3.0 to 4.9 percent 8 0 0 0 4 0 3
5.0 to 6.9 percent 10 6 0 0 0 0 4
7.0 to 8.9 percent 28 0 0 0 0 0 28
9.0 to 10.9 percent 10 0 0 0 0 0 10
11.0 to 12.9 percent 10 0 0 0 0 6 4
13.0 to 14.9 percent 11 0 0 0 0 0 11
15.0 percent or more 50 0 0 0 0 14 36
Not reported or not computed 464 43 16 7 5 63 329
Median 0.6 0.5 0.0 0.0 0.6 0.7 0.7
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

Age Restrictions

Property restricted to people
age 55 or older
111 25 0 0 9 16 60
Property not restricted to people
age 55 or older
1090 83 16 7 20 153 811
Not reported 12 6 0 0 0 0 6

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
7 0 0 0 0 0 7
Government rental subsidy 6 0 0 0 0 0 6
Government grant 0 0 0 0 0 0 0
Property tax relief 8 0 0 0 0 0 8
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 1111 108 16 7 29 160 792
Not reported 81 7 0 0 1 10 64

Source of Property Benefits@1

With property benefits
21 0 0 0 0 0 21
Federal government 13 0 0 0 0 0 13
State government 8 0 0 0 0 0 8
Local government 0 0 0 0 0 0 0
Non-profit corporation 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
With no property benefits 1111 108 16 7 29 160 792
Not reported 81 7 0 0 1 10 64

Reason for Benefits@1

With property benefits
21 0 0 0 0 0 21
Occupied by low- or moderate-income
individuals
0 0 0 0 0 0 0
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 8 0 0 0 0 0 8
Not reported 0 0 0 0 0 0 0
With no property benefits 1111 108 16 7 29 160 792
Not reported 81 7 0 0 1 10 64

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
1056 106 10 7 30 141 762
Limited partnership 64 6 0 0 0 10 47
Joint venture 13 0 0 0 0 0 13
General partnership 23 0 6 0 0 0 17
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
13 0 0 0 0 7 6
Housing cooperative organization 0 0 0 0 0 0 0
Non-profit or church-related institution 6 0 0 0 0 0 6
Pension fund 0 0 0 0 0 0 0
Fraternal organization 0 0 0 0 0 0 0
Other 39 3 0 0 0 12 25

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
1077 104 16 7 30 150 770
2 mortgages 110 10 0 0 0 18 82
3 or more mortgages 27 0 0 0 0 2 25

Form of Debt of First Mortgage

Mortgage or deed of trust
1214 115 16 7 30 170 877
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
19 0 0 0 0 6 12
By telephone or FAX 140 0 0 7 0 23 110
By regular mail 43 0 0 0 0 0 43
By personal visit 614 70 0 0 29 88 427
Through third party (such as real
estate agent or builder)
272 41 6 0 0 40 186
Some other way 3 3 0 0 1 0 0
Not reported 76 1 6 1 0 14 55
Not available 47 0 4 0 0 0 43

Origin of First Mortgage

Mortgage made at time property acquired
789 84 12 1 12 142 539
Mortgage assumed at the time property
acquired
92 11 4 0 0 0 78
Mortgage placed later than acquisition of
property
332 20 0 7 18 28 260
Refinanced mortgage 285 20 0 7 13 28 218
Same lender 83 0 0 0 13 6 64
Different lender 202 20 0 7 0 22 153
Mortgage placed on property
owned free and clear of debt
47 0 0 0 5 0 42
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
332 20 0 7 18 28 260
Obtain lower interest rate 187 8 0 7 8 21 144
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
0 0 0 0 0 0 0
Receive cash or increase outstanding
balance of loan
80 12 0 0 5 0 63
Other reason 33 0 0 0 5 0 28
Not reported 19 0 0 0 0 0 19
Other properties 881 95 16 1 12 142 617
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
108 12 0 0 10 0 86
Less than $20,000 25 6 0 0 0 0 19
$20,000 to $39,999 29 6 0 0 5 0 19
$40,000 to $59,999 15 0 0 0 0 0 15
$60,000 to $79,999 22 0 0 0 0 0 22
$80,000 to $99,999 11 0 0 0 5 0 6
$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 39670 19041 0 0 39809 0 47622
Mean 43049 19497 0 0 54662 0 44951
Properties that refinanced
and did not receive cash back
182 8 0 7 8 23 137
Properties that refinanced
and did not report if received
cash back
42 0 0 0 0 6 37
Properties that did not
refinance
881 95 16 1 12 142 617
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
108 12 0 0 10 0 86
For additions, improvements or repairs
to this property
18 0 0 0 0 0 18
To consolidate debts 27 0 0 0 0 0 27
For investment in other real estate 25 12 0 0 0 0 13
For other types of investments 25 0 0 0 5 0 20
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 8 0 0 0 0 0 8
To pay taxes 0 0 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
6 0 0 0 0 0 6
To purchase consumer product other than
automobile, truck, or other vehicle
6 0 0 0 0 0 6
Other 12 0 0 0 0 0 12
Not reported 5 0 0 0 5 0 0
Properties that refinanced
and did not receive cash back
182 8 0 7 8 23 137
Properties that refinanced
and did not report if received
cash back
42 0 0 0 0 6 37
Properties that did not
refinance
881 95 16 1 12 142 617
Not available 0 0 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
99 4 0 0 0 20 75
Provide funds for the purchase of this
property
15 0 0 0 0 7 8
Provide funds for additions,
improvements or repairs to this
property
30 0 0 0 0 4 25
Provide funds for consolidation of debts 16 4 0 0 0 0 12
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 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 34 0 0 0 0 9 25
Other properties 1115 110 16 7 30 150 802

Purpose of Home Equity Line of Credit

Properties with home equity
line of credit
65 6 0 0 0 2 57
Provide funds for additions,
improvements or repairs to this
property
31 0 0 0 0 0 31
Provide funds for consolidation of debts 6 0 0 0 0 0 6
Provide funds for investment in other
real estate
6 6 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 8 0 0 0 0 0 8
Not reported 14 0 0 0 0 2 11
Other properties 1149 109 16 7 30 168 820

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
400 22 0 0 1 67 310
1997 and 1998 234 23 0 0 20 33 158
1995 and 1996 136 16 6 7 0 26 82
1990 to 1994 280 29 0 0 5 25 221
1985 to 1989 72 12 0 1 0 19 41
1980 to 1984 29 0 10 0 0 0 19
1979 or earlier 63 12 0 0 4 0 47

Traditional First Mortgage Loan

Less than $20,000
50 12 0 0 0 8 31
$20,000 to $29,999 26 0 4 0 0 0 22
$30,000 to $39,999 86 5 6 0 0 0 76
$40,000 to $49,999 75 6 0 0 5 0 64
$50,000 to $59,999 91 0 0 0 0 4 87
$60,000 to $79,999 175 40 0 7 4 27 97
$80,000 to $99,999 176 20 0 0 5 36 115
$100,000 to $149,999 285 23 6 0 0 60 196
$150,000 to $199,999 153 9 0 0 15 28 101
$200,000 to $249,999 31 0 0 0 0 2 29
$250,000 to $299,999 28 0 0 0 1 0 28
$300,000 or more 37 0 0 0 0 6 31
Not reported 0 0 0 0 0 0 0
Median 91788 77245 36839 70000 151687 109187 90797
Mean 106535 84968 61469 70381 118463 120774 107291

Total Mortgage Loan

Less than $20,000
45 12 0 0 0 8 25
$20,000 to $29,999 26 0 4 0 0 0 22
$30,000 to $39,999 86 5 6 0 0 0 75
$40,000 to $49,999 75 6 0 0 5 0 64
$50,000 to $59,999 91 0 0 0 0 4 87
$60,000 to $79,999 155 36 0 7 4 27 82
$80,000 to $99,999 185 24 0 0 5 29 127
$100,000 to $149,999 281 23 6 0 0 53 199
$150,000 to $199,999 173 9 0 0 15 42 108
$200,000 to $249,999 18 0 0 0 0 0 18
$250,000 to $299,999 25 0 0 0 1 0 24
$300,000 or more 54 0 0 0 0 8 46
Not reported 0 0 0 0 0 0 0
Median 94005 79217 36839 70000 151687 116679 93239
Mean 115518 85683 61469 70381 118463 129452 117952

Traditional First Mortgage Outstanding
Debt

Less than $10,000
41 12 4 0 0 0 24
$10,000 to $19,999 75 0 6 0 0 8 61
$20,000 to $29,999 43 0 0 0 4 0 39
$30,000 to $39,999 75 11 0 0 5 0 59
$40,000 to $49,999 113 0 0 0 0 4 108
$50,000 to $59,999 64 6 0 0 0 10 49
$60,000 to $79,999 165 36 0 7 0 35 87
$80,000 to $99,999 201 24 0 0 5 35 137
$100,000 to $149,999 216 18 6 0 8 48 137
$150,000 to $199,999 142 9 0 0 7 22 104
$200,000 to $249,999 19 0 0 0 1 2 16
$250,000 to $299,999 23 0 0 0 0 0 23
$300,000 or more 37 0 0 0 0 6 31
Not reported 0 0 0 0 0 0 0
Median 83170 75965 16839 70000 103289 96381 81467
Mean 96443 76689 43106 65804 106059 112088 96872

Total Mortgage Outstanding Debt

Less than $10,000
35 12 4 0 0 0 19
$10,000 to $19,999 68 0 6 0 0 8 55
$20,000 to $29,999 49 0 0 0 4 0 45
$30,000 to $39,999 75 11 0 0 5 0 59
$40,000 to $49,999 107 0 0 0 0 4 103
$50,000 to $59,999 64 6 0 0 0 10 49
$60,000 to $79,999 151 32 0 7 0 35 78
$80,000 to $99,999 205 28 0 0 5 29 143
$100,000 to $149,999 232 18 6 0 8 48 152
$150,000 to $199,999 149 9 0 0 7 29 104
$200,000 to $249,999 11 0 0 0 1 0 10
$250,000 to $299,999 14 0 0 0 0 0 14
$300,000 or more 54 0 0 0 0 8 46
Not reported 0 0 0 0 0 0 0
Median 85607 78015 16839 70000 103289 100236 84400
Mean 104840 77372 43106 65804 106059 120235 106828

Current Interest Rate on First Mortgage

Less than 6.0 percent
466 6 0 1 16 74 369
6.0 percent 12 0 0 0 0 0 12
6.1 to 6.4 percent 16 0 0 0 0 0 16
6.5 to 6.9 percent 59 7 0 0 0 8 43
7.0 percent 115 12 4 0 5 8 86
7.1 to 7.4 percent 64 15 0 0 8 8 33
7.5 to 7.9 percent 99 16 0 0 0 31 52
8.0 percent 30 12 6 0 0 7 6
8.1 to 8.4 percent 53 0 0 0 0 7 46
8.5 to 8.9 percent 42 9 6 0 0 6 22
9.0 percent 14 0 0 0 0 0 14
9.1 to 9.4 percent 11 5 0 0 0 0 7
9.5 to 9.9 percent 4 4 0 0 0 0 0
10.0 percent 7 0 0 0 0 0 7
10.1 to 10.4 percent 6 6 0 0 0 0 0
10.5 to 10.9 percent 10 10 0 0 0 0 0
11.0 percent 26 0 0 0 0 6 20
11.1 to 12.9 percent 6 6 0 0 0 0 0
13.0 percent 0 0 0 0 0 0 0
13.1 percent or more 173 7 0 7 1 14 145
Not reported 0 0 0 0 0 0 0
Median 7.0 8.0 8.1 52.9 5.4 7.0 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
9 0 0 0 0 0 9
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 9 0 0 0 0 0 9
Properties without interest
rate buydown
421 47 10 0 8 59 297
Not reported 784 67 6 7 22 111 571

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 0 0 0 0 0 0 0
11 to 14 years 0 0 0 0 0 0 0
15 years 65 0 0 0 0 4 61
16 to 19 years 0 0 0 0 0 0 0
20 years 6 0 0 0 0 0 6
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 473 108 16 0 8 64 279
More than 30 years 7 7 0 0 0 0 0
No stated term 649 0 0 7 22 102 517
Median 30 31 31 0 31 30 30

Unexpired Term of First Mortgage

Less than 5 years
12 6 0 0 0 0 6
5 to 9 years 30 7 6 0 0 0 18
10 to 14 years 54 0 4 0 0 4 46
15 to 19 years 43 12 0 0 0 0 31
20 to 24 years 126 31 6 0 0 11 78
25 to 29 years 277 59 0 0 8 46 164
30 or more years 22 0 0 0 0 6 16
No stated term or not computed 649 0 0 7 22 102 517
Median 25 25 13 0 28 27 25

Holder of First Mortgage

Commercial bank or trust company
164 22 0 7 10 19 106
Savings and loan association, federal
savings bank
154 6 0 0 15 2 131
Mutual savings bank 20 0 0 0 0 0 20
Life insurance company 29 0 0 0 0 17 12
Mortgage banker or mortgage company 121 12 0 0 0 48 62
Federally-sponsored secondary market
agency or pool
543 70 16 1 5 58 394
Conventional mortgage pool 0 0 0 0 0 0 0
Other federal agency 52 0 0 0 0 14 39
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 6 0 0 0 0 0 6
Credit union 36 0 0 0 0 0 36
Finance company 25 0 0 0 0 6 19
State or municipal government or
housing finance agency
32 4 0 0 0 6 22
Individual or individual's estate 15 0 0 0 0 0 15
Other 17 0 0 0 0 0 17

Servicer of First Mortgage

Commercial bank or trust company
194 27 0 7 10 25 125
Savings and loan association, federal
savings bank
148 6 0 0 15 2 125
Mutual savings bank 20 0 0 0 0 0 20
Life insurance company 29 0 0 0 0 17 12
Mortgage banker or mortgage company 652 77 16 1 5 100 455
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 47 0 0 0 0 14 33
Real estate investment trust 0 0 0 0 0 0 0
Pension or retirement fund 6 0 0 0 0 0 6
Credit union 36 0 0 0 0 0 36
Finance company 25 0 0 0 0 6 19
State or municipal government or
housing finance agency
26 4 0 0 0 6 15
Individual or individual's estate 15 0 0 0 0 0 15
Other 17 0 0 0 0 0 17

Holder's Acquisition of First Mortgage

Originated directly from borrower
596 49 0 7 15 69 456
Purchased from present servicer 302 22 10 1 5 55 209
Purchased from someone else 315 43 6 0 9 46 212
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
840 86 16 1 12 134 591
Less than 40 percent 38 0 0 1 0 8 29
40 to 49 percent 40 0 4 0 0 8 28
50 to 59 percent 69 8 6 0 0 0 56
60 to 69 percent 68 6 0 0 0 18 44
70 to 79 percent 120 6 0 0 0 17 97
80 to 89 percent 135 10 0 0 1 32 93
90 to 94 percent 59 6 0 0 7 32 14
95 to 99 percent 83 12 6 0 0 17 48
100 percent or more 228 39 0 0 4 4 181
Not reported 0 0 0 0 0 0 0
Median 86 98 57 20 94 85 84
Other properties 374 28 0 7 18 36 286
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
840 86 16 1 12 134 591
Less than 40 percent 38 0 0 1 0 0 37
40 to 49 percent 41 0 0 0 0 6 35
50 to 59 percent 68 7 0 0 0 0 61
60 to 69 percent 114 13 10 0 0 32 60
70 to 79 percent 177 12 0 0 0 27 138
80 to 89 percent 106 4 0 0 0 15 87
90 to 94 percent 59 0 0 0 7 38 14
95 to 99 percent 91 22 6 0 0 12 51
100 percent or more 145 29 0 0 5 4 108
Not reported 0 0 0 0 0 0 0
Median 79 97 68 20 94 81 77
Other properties 374 28 0 7 18 36 286
Not available 0 0 0 0 0 0 0

First Mortgage Risk

Subprime loan
72 0 0 0 0 3 69
Not subprime loan 1142 115 16 7 30 167 808
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
840 86 16 1 12 134 591
Less than 40 percent 36 0 4 1 0 8 24
40 to 49 percent 26 0 0 0 0 6 20
50 to 59 percent 63 8 6 0 0 0 50
60 to 69 percent 68 6 0 0 0 18 44
70 to 79 percent 111 6 0 0 0 17 88
80 to 89 percent 135 10 0 0 1 25 99
90 to 94 percent 59 6 0 0 7 25 21
95 to 99 percent 79 12 6 0 0 12 48
100 percent or more 263 39 0 0 4 24 196
Not reported 0 0 0 0 0 0 0
Median 89 98 57 20 94 88 87
Other properties 374 28 0 7 18 36 286
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
840 86 16 1 12 134 591
Less than 40 percent 150 13 10 1 0 24 104
40 to 49 percent 120 17 0 0 0 11 92
50 to 59 percent 141 1 0 0 4 34 103
60 to 69 percent 118 0 6 0 0 12 100
70 to 79 percent 120 10 0 0 0 19 90
80 to 89 percent 92 23 0 0 8 27 33
90 to 94 percent 39 6 0 0 0 7 26
95 to 99 percent 25 16 0 0 0 0 9
100 percent or more 33 0 0 0 0 0 33
Not reported 0 0 0 0 0 0 0
Median 61 81 33 20 82 60 60
Other properties 374 28 0 7 18 36 286
Not available 0 0 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
128 6 10 1 0 12 100
20 to 29 percent 119 12 0 0 4 4 100
30 to 39 percent 88 12 0 0 0 18 58
40 to 49 percent 230 13 0 0 18 27 173
50 to 59 percent 198 1 6 0 0 47 144
60 to 69 percent 101 8 0 0 0 12 81
70 to 79 percent 168 30 0 0 0 31 108
80 to 89 percent 102 10 0 0 8 20 64
90 to 99 percent 39 17 0 7 0 0 15
100 percent or more 33 0 0 0 0 0 33
Not reported or not computed 7 7 0 0 0 0 0
Median 52 71 16 95 46 55 51

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
253 7 0 0 5 15 225
Treasury security 39 4 0 0 0 0 35
Average cost of funds in bank district 35 0 0 0 0 0 35
National average cost of funds 0 0 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0 0 0
Other method 27 0 0 0 0 0 27
No index used 14 0 0 0 0 7 7
Not reported 139 3 0 0 5 8 122
Other properties 960 107 16 7 24 154 652
Not reported 0 0 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
253 7 0 0 5 15 225
Monthly 54 0 0 0 0 0 54
Every 3 months 7 0 0 0 0 0 7
Every 6 months 0 0 0 0 0 0 0
Yearly 43 4 0 0 0 0 39
Every 3 years 0 0 0 0 0 0 0
Every 5 years 0 0 0 0 0 0 0
Other 0 0 0 0 0 0 0
Not reported 148 3 0 0 5 15 124
Other properties 960 107 16 7 24 154 652
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
253 7 0 0 5 15 225
Less than 1 percent 14 0 0 0 0 0 14
1 percent 0 0 0 0 0 0 0
1.1 to 1.9 percent 3 0 0 0 0 0 3
2 percent 32 0 0 0 0 0 32
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 4 4 0 0 0 0 0
4.0 percent or more 5 0 0 0 0 0 5
No caps 48 0 0 0 0 0 48
Not reported 148 3 0 0 5 15 124
Other properties 960 107 16 7 24 154 652
Not reported 0 0 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
253 7 0 0 5 15 225
Less than 1 percent 14 0 0 0 0 0 14
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 85 4 0 0 0 0 81
No caps 6 0 0 0 0 0 6
Not reported 148 3 0 0 5 15 124
Other properties 960 107 16 7 24 154 652
Not reported 0 0 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
253 7 0 0 5 15 225
Yes, rate has changed 95 4 0 0 0 0 91
No change since mortgage made 10 0 0 0 0 0 10
Not reported 148 3 0 0 5 15 124
Other properties 960 107 16 7 24 154 652
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
9 0 0 0 0 0 9
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 9 0 0 0 0 0 9
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
1056 111 16 7 24 154 743
Not reported 148 3 0 0 5 15 124

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
9 0 0 0 0 0 9
Yes, unrestricted negative amortization 2 0 0 0 0 0 2
Yes, restricted negative amortization 7 0 0 0 0 0 7
No negative amortization allowed 0 0 0 0 0 0 0
Not reported 0 0 0 0 0 0 0
Monthly payments cannot change 1056 111 16 7 24 154 743
Not reported 148 3 0 0 5 15 124

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
1188 114 16 7 30 167 855
Interest and principal 1180 114 16 7 30 167 847
Fully amortized 1104 114 16 7 22 145 801
Not fully amortized 77 0 0 1 8 22 46
Interest only 7 0 0 0 0 0 7
No regular payments required 8 0 0 0 0 0 8
Not reported 18 1 0 0 0 3 14

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
1180 114 16 7 30 167 847
Real estate taxes 305 53 16 0 8 43 186
Property insurance 294 53 10 0 8 43 181
Mortgage insurance 80 35 0 0 0 39 5
Other 100 24 10 0 0 5 61
No items included or not reported 865 61 0 7 22 124 651
No regular payments of interest
and principal
33 1 0 0 0 3 29

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
1188 114 16 7 30 167 855
Less than $100 26 6 0 0 0 0 20
$100 to $199 28 6 0 0 0 0 22
$200 to $299 66 5 10 0 0 0 52
$300 to $399 77 6 0 0 9 4 58
$400 to $499 161 25 0 7 0 10 120
$500 to $599 101 13 0 0 0 19 69
$600 to $699 121 16 0 0 0 24 80
$700 to $799 125 0 0 0 5 16 105
$800 to $899 62 6 6 0 0 25 25
$900 to $999 82 16 0 0 0 0 66
$1,000 to $1,249 128 15 0 0 8 42 64
$1,250 to $1,499 80 0 0 0 7 13 61
$1,500 or more 130 0 0 1 1 15 114
Median 712 574 281 454 1016 845 707
Mean 2540 626 482 538 839 1049 3200
No regular payments required 8 0 0 0 0 0 8
Not reported 18 1 0 0 0 3 14

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
1206 115 16 7 30 170 869
Up-to-date, ahead of schedule, or
less than 90 days past due
488 53 16 0 8 68 344
Delinquent by 90 days or more 8 0 0 0 0 0 8
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 8 0 0 0 0 0 8
Not reported 710 62 0 7 22 102 517
Other properties 8 0 0 0 0 0 8

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
1188 114 16 7 30 167 855
Less than $100 26 6 0 0 0 0 20
$100 to $199 28 6 0 0 0 0 22
$200 to $299 59 5 10 0 0 0 45
$300 to $399 77 6 0 0 9 4 58
$400 to $499 145 20 0 7 0 10 109
$500 to $599 91 13 0 0 0 19 59
$600 to $699 120 16 0 0 0 18 86
$700 to $799 130 4 0 0 5 16 105
$800 to $899 57 6 6 0 0 13 31
$900 to $999 82 16 0 0 0 0 66
$1,000 to $1,249 144 15 0 0 8 60 62
$1,250 to $1,499 85 0 0 0 7 13 65
$1,500 or more 143 0 0 1 1 15 127
Median 737 604 281 454 1016 1018 728
Mean 2588 636 482 538 839 1087 3257
No regular monthly payments
required
26 1 0 0 0 3 22

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

Acquired before 2000 and
regular payments of interest
and/or princi
1036 109 16 7 29 123 752
Less than 20 percent 36 6 0 0 0 4 26
20 to 29 percent 53 12 6 1 0 2 33
30 to 39 percent 57 6 4 0 0 21 27
40 to 49 percent 125 12 0 7 4 22 81
50 to 59 percent 68 0 0 0 0 6 62
60 to 69 percent 135 12 0 0 0 9 113
70 to 79 percent 98 6 0 0 0 7 85
80 to 89 percent 85 10 0 0 5 18 52
90 to 99 percent 71 13 0 0 15 6 37
100 percent or more 234 13 6 0 0 17 198
Not reported or not computed 74 19 0 0 5 11 39
Median 71 68 36 45 92 61 72
Other properties 178 5 0 0 1 47 125

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

Acquired before 2000 and regular
payments of interest and/or
principal
1036 109 16 7 29 123 752
Less than 20 percent 36 6 0 0 0 4 26
20 to 29 percent 47 12 6 1 0 2 27
30 to 39 percent 56 6 4 0 0 14 33
40 to 49 percent 125 12 0 7 4 22 81
50 to 59 percent 68 0 0 0 0 6 62
60 to 69 percent 128 12 0 0 0 16 100
70 to 79 percent 74 2 0 0 0 0 72
80 to 89 percent 86 10 0 0 5 18 53
90 to 99 percent 78 13 0 0 15 6 44
100 percent or more 264 17 6 0 0 24 216
Not reported or not computed 74 19 0 0 5 11 39
Median 73 68 36 45 92 65 74
Other properties 178 5 0 0 1 47 125

Real Estate Tax

Acquired before 2000
1058 109 16 7 29 123 774
Less than $100 32 0 6 0 0 0 26
$100 to $199 12 6 0 0 0 0 7
$200 to $299 7 0 0 0 0 0 7
$300 to $399 20 7 0 0 0 0 13
$400 to $499 22 4 0 0 0 0 18
$500 to $599 59 7 0 7 4 6 36
$600 to $699 48 0 0 0 13 4 32
$700 to $799 57 2 0 0 5 0 50
$800 to $899 104 17 0 0 0 0 88
$900 to $999 47 12 0 0 0 0 36
$1,000 to $1,249 152 11 10 0 0 26 105
$1,250 to $1,499 103 10 0 0 0 22 71
$1,500 to $1,999 167 21 0 0 0 28 118
$2,000 to $2,499 74 6 0 1 0 14 54
$2,500 or more 154 8 0 0 7 23 116
Not reported 0 0 0 0 0 0 0
Median 1198 1028 1046 554 682 1559 1182
Mean 1504 1204 687 690 1176 2045 1496
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

Real Estate Tax Per $1,000 Value

Acquired before 2000
1058 109 16 7 29 123 774
Less than $5 144 11 6 1 13 10 104
$5 to $9 663 72 6 7 9 90 481
$10 to $14 208 20 4 0 7 11 166
$15 to $19 23 0 0 0 0 6 17
$20 to $24 6 6 0 0 0 0 0
$25 to $29 0 0 0 0 0 0 0
$30 to $39 14 0 0 0 0 7 7
$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 0 0 0 0 0 0 0
Median 8 8 7 7 6 8 8
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
1058 109 16 7 29 123 774
Less than 5 percent 95 10 6 1 8 4 67
5 to 9 percent 396 51 6 7 9 60 264
10 to 14 percent 238 10 4 0 0 17 207
15 to 19 percent 132 13 0 0 7 23 89
20 to 24 percent 49 6 0 0 0 1 42
25 to 29 percent 19 0 0 0 0 0 19
30 to 34 percent 14 0 0 0 0 0 14
35 to 39 percent 6 0 0 0 0 0 6
40 percent or more 27 0 0 0 0 7 20
Not reported or not computed 82 19 0 0 5 11 47
Median 10 8 7 7 7 9 11
Acquired 2000 and 2001 (part) 156 5 0 0 1 47 103

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