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Residential Finance Survey

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Residential Finance Survey: 2001 - United States
Table 6-2a. Type of First Mortgage, Rental and Vacant 5- to 49-Housing-Unit Mortgaged Properties
^Number of mortgaged properties.
For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text.
Monthly Rental Receipts Per Housing Unit, 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^^

Fixed rate mortgage
Total mortgaged
properties
Amortized Short term with
balloon payment
Adjustable rate
mortgage (ARM)
Other mortgage

5- to 49-housing-unit properties
with traditional first mortgage
290542 177603 28495 77490 6955

PROPERTY CHARACTERISTICS


Number of Housing Units

5 to 9 housing units
150027 87884 17162 41383 3598
10 to 19 housing units 68655 41324 5220 20032 2080
20 to 29 housing units 35980 23095 3544 8651 690
30 to 39 housing units 20147 13925 1375 4392 456
40 to 49 housing units 15733 11376 1194 3033 131

Manner of Acquisition

By purchase
263339 158514 25510 72880 6435
Placed one new mortgage 211513 129928 21159 57325 3100
Placed two or more new mortgages 22178 12068 1115 6069 2926
Assumed mortgage(s) already on property 15664 10052 1000 4323 290
Assumed mortgage(s) already on property
and placed new mortgage
4401 2331 288 1781 0
Borrowed using assets other than this
property as collateral
3706 1533 1140 1033 0
Paid all cash-no borrowing 3339 1522 328 1371 119
Other manner 2537 1080 479 978 0
By inheritance or gift 4858 3625 1066 106 61
By divorce 267 267 0 0 0
By tax free exchange of
other property
3450 1648 324 1478 0
By foreclosure or assignment 2207 1395 8 506 298
By some other manner 3279 2699 0 478 102
Not reported 13142 9456 1587 2042 58

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
130388 76313 14585 36015 3475
Sale of stock or other partnership
shares for this project
4547 3491 119 938 0
Sale of previously owned stocks,
shares, or other securities
4925 2536 936 1287 167
Sale of land or other real estate 14783 7525 1591 5433 234
Owner's cash, bank deposits,
share accounts, or bonds
64334 36485 7054 18080 2714
Borrowing from a retirement plan 1510 1092 0 325 93
Borrowing using assets other than this
property as collateral
12175 7179 1620 3163 213
Proceeds from an insurance policy 572 483 0 89 0
From a state or local government source 1117 725 132 101 159
From a non-profit organization 343 84 0 133 125
Proceeds from sale of tax credits 1734 1416 171 22 125
From parents or relatives 4374 2947 281 1147 0
Other cash source 3356 1607 334 1334 82
Non-cash source 762 229 241 292 0
No downpayment required 12225 6525 1949 3644 107
Not reported 15731 11804 1013 2840 74
Other properties 151837 94919 12745 40751 3421
Not reported 8317 6371 1164 724 58

Year Property Acquired

1999 to 2001 (part)
74669 43609 9497 18534 3028
1997 and 1998 43473 26751 3231 12970 521
1995 and 1996 26674 17585 3118 5890 81
1990 to 1994 47429 28012 3266 14684 1467
1985 to 1989 40540 25150 3055 11715 620
1980 to 1984 22088 13187 2513 5493 894
1975 to 1979 16890 10362 2075 4227 225
1970 to 1974 12257 8243 853 3042 119
1969 or earlier 6524 4703 886 935 0

Property New or Previously Owned When
Acquired

Acquired by purchase
263339 158514 25510 72880 6435
New 49048 33229 3499 11346 974
Previously owned 208987 121786 21454 60285 5461
As residential property 196563 114735 19399 57114 5315
Converted from nonresidential use 12424 7052 2055 3171 146
Other 1917 1252 226 439 0
Not reported 3387 2247 330 810 0
Other properties 14061 9633 1398 2568 462
Not reported 13142 9456 1587 2042 58

Year Structure Built

1999 to March 2000
13398 7576 2167 3422 233
1997 and 1998 7942 4360 760 2682 140
1995 and 1996 6120 3366 786 1934 34
1990 to 1994 16105 9185 1494 4664 762
1980 to 1989 38939 26283 2421 9795 440
1970 to 1979 47794 31787 3078 12096 832
1960 to 1969 47222 28050 4634 14089 449
1950 to 1959 25482 17199 374 7711 198
1940 to 1949 17783 11015 1309 5220 239
1939 or earlier 69757 38782 11470 15876 3628

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
106468 61093 11649 30297 3430
Less than $20,000 23048 12822 2912 4861 2453
$20,000 to $39,999 38050 23001 4115 10279 655
$40,000 to $59,999 21920 11432 2006 8299 183
$60,000 to $79,999 8203 4481 692 3030 0
$80,000 to $99,999 5772 2981 230 2421 140
$100,000 to $124,999 3416 1573 1237 606 0
$125,000 to $149,999 1637 1503 134 0 0
$150,000 to $174,999 647 647 0 0 0
$175,000 to $199,999 591 371 0 220 0
$200,000 to $249,999 692 368 324 0 0
$250,000 to $299,999 447 447 0 0 0
$300,000 to $499,999 297 297 0 0 0
$500,000 or more 1377 795 0 581 0
Median 35769 35249 34159 40020 13984
Mean 52638 52946 46023 57757 24436
Other properties 184074 116510 16846 47193 3525

Value

Less than $100,000
12556 7855 712 1078 2910
$100,000 to $199,999 34949 23985 3436 7402 125
$200,000 to $299,999 36314 20503 4489 10705 617
$300,000 to $399,999 31722 19219 4561 7546 397
$400,000 to $499,999 28591 17205 1613 8674 1099
$500,000 to $749,999 42486 24592 3831 13496 567
$750,000 to $999,999 29565 16486 4083 8696 301
$1,000,000 to $1,499,999 31945 20203 2215 9207 319
$1,500,000 to $1,999,999 15951 10799 732 4223 197
$2,000,000 to $2,999,999 12064 7738 807 3303 216
$3,000,000 to $3,999,999 6102 3478 1127 1462 34
$4,000,000 to $4,999,999 2187 1326 473 388 0
$5,000,000 or more 6111 4214 416 1310 172
Median 506704 500345 465101 561865 271620
Mean 870140 898490 803696 858835 544342

Value Per Housing Unit@8

Less than $20,000
34996 24201 1893 5637 3264
$20,000 to $39,999 93324 59122 10128 22195 1879
$40,000 to $59,999 60813 34401 7524 17752 1136
$60,000 to $79,999 37549 21880 1942 13482 245
$80,000 to $99,999 18111 11594 1311 5066 140
$100,000 to $124,999 13944 6172 1669 6102 0
$125,000 to $149,999 9029 5337 1813 1879 0
$150,000 to $174,999 5679 3074 446 2158 0
$175,000 to $199,999 3537 1406 503 1546 82
$200,000 to $249,999 5202 4410 225 448 119
$250,000 to $299,999 1937 1592 255 0 90
$300,000 to $499,999 2870 2472 70 327 0
$500,000 or more 3553 1941 714 897 0
Median 45575 43185 45917 52295 22271
Mean 67370 66509 77452 68342 37221

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
148739 93827 15731 36733 2448
Less than $5,000 31889 18062 5104 8239 484
$5,000 to $9,999 25647 17771 1250 6060 566
$10,000 to $24,999 42955 26772 4406 10854 923
$25,000 to $49,999 23432 15270 1930 6043 189
$50,000 to $74,999 8045 5161 631 2217 35
$75,000 to $99,999 2978 2244 75 494 165
$100,000 to $149,999 6015 4017 620 1291 87
$150,000 to $199,999 3075 1338 1256 481 0
$200,000 to $299,999 1799 1178 196 425 0
$300,000 or more 2903 2013 262 628 0
Median 15878 16208 15146 15621 12830
Mean 123414 172428 55146 34239 21602
Properties with no capital
improvements between 1998 and 2000
84218 46297 7292 26902 3727
Capital improvements not
reported
57585 37479 5471 13855 780

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
148739 93827 15731 36733 2448
Less than $500 33638 20157 3922 8731 828
$500 to $999 33140 22537 2839 7054 710
$1,000 to $2,499 46120 29197 4418 11761 744
$2,500 to $4,999 17753 10308 2497 4868 79
$5,000 to $7,499 5948 4228 44 1589 87
$7,500 to $9,999 2570 1718 152 700 0
$10,000 to $14,999 3535 2112 134 1289 0
$15,000 to $19,999 2015 1607 304 104 0
$20,000 to $29,999 2276 892 1200 185 0
$30,000 or more 1745 1071 222 452 0
Median 1247 1217 1375 1329 779
Mean 13479 19242 5830 2854 1174
Properties with no capital
improvements between 1998 and 2000
84218 46297 7292 26902 3727
Capital improvements not
reported
57585 37479 5471 13855 780

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
240274 149333 21790 64770 4382
Less than $100 16893 11119 1303 3711 760
$100 to $199 22180 16220 871 5031 58
$200 to $299 32995 21253 4056 7137 549
$300 to $399 34589 24044 3426 6404 715
$400 to $499 35290 20199 3162 10874 1055
$500 to $599 27852 15885 2445 8827 696
$600 to $799 20108 11489 1397 7086 136
$800 to $999 23617 11704 2356 9322 235
$1000 or more 26014 16860 2774 6202 178
No rental receipts 738 560 0 178 0
Median 437 409 439 492 410
Mean 1340 1606 1441 756 409
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Rental Receipts as Percent of Value@8

Acquired before 2000
240274 149333 21790 64770 4382
Less than 5 percent 6986 4005 469 2339 172
5 to 9 percent 85839 55274 8154 21460 951
10 to 14 percent 72756 43601 5615 22030 1509
15 to 19 percent 39783 23035 4098 11954 697
20 to 24 percent 13397 8611 1385 3098 302
25 to 29 percent 6283 4241 603 1110 329
30 to 39 percent 4486 3546 197 573 170
40 percent or more 9888 6460 1150 2027 251
Median 12 12 12 12 14
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
240274 149333 21790 64770 4382
Less than 1.0 percent 35725 19111 3060 12736 818
1.0 to 2.9 percent 34410 19021 3794 11321 274
3.0 to 4.9 percent 26961 16196 1920 7834 1011
5.0 to 6.9 percent 14910 9469 1406 3899 135
7.0 to 8.9 percent 14046 9160 883 3565 439
9.0 to 10.9 percent 11622 7062 1524 2887 149
11.0 to 12.9 percent 5329 3767 752 810 0
13.0 to 14.9 percent 4774 3016 695 911 152
15.0 percent or more 27097 18257 1801 6318 721
Not reported or not computed 65400 44273 5956 14489 682
Median 4.3 4.8 4.1 3.3 4.5
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Age Restrictions

Property restricted to people
age 55 or older
63507 35719 7605 19184 1000
Property not restricted to people
age 55 or older
213381 133148 19971 56524 3737
Not reported 13655 8736 919 1782 2218

Age Composition

Over one-half the residents of the
building age 55 or older
13914 8755 1248 3877 34
Over one-half the residents of the
building not age 55 or older
195900 121171 18647 50219 5863
Not reported 80728 47676 8600 23395 1057

Meal Service Provided by Properties
Exclusively or Predominantly Occupied by
People Age 55 or Older

Property provides meal service
36846 19765 4895 11628 558
Charge included in rent 28116 15070 3796 8876 374
Charge not included in rent 111 79 32 0 0
Not reported 8619 4616 1068 2753 183
Property does not provide meal
service
21879 14586 1283 5708 302
Not reported 231817 143252 22316 60153 6095

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
14011 11215 787 1363 646
Government rental subsidy 38030 26278 2528 8191 1033
Government grant 1767 1312 133 162 159
Property tax relief 5186 2762 394 1716 313
Federal income tax credit for
low-income, old or historic properties
5673 4288 713 396 276
Accelerated federal income tax
depreciation for low- and
moderate-income properties
1082 1010 73 0 0
Subsidy from a non-profit corporation 884 479 0 279 125
None of the above benefits 208079 119810 21766 61361 5142
Not reported 30109 21554 3374 5075 105

Source of Property Benefits@1

With property benefits
52355 36238 3354 11054 1708
Federal government 37664 27403 2482 6450 1329
State government 7124 4966 84 1831 243
Local government 10863 5959 1177 3492 235
Non-profit corporation 884 479 0 279 125
Not reported 1212 659 300 253 0
With no property benefits 208079 119810 21766 61361 5142
Not reported 30109 21554 3374 5075 105

Reason for Benefits@1

With property benefits
52355 36238 3354 11054 1708
Occupied by low- or moderate-income
individuals
42760 30516 2831 8524 890
Occupied by elderly or disabled
individuals
14850 10734 1321 2435 361
A historic structure 890 655 40 195 0
Located in a community development or
economic development area
2843 1838 39 884 82
Covered by a Homestead Exemption 143 108 0 0 35
Covered by a Community Land Trust 54 54 0 0 0
Covered by disaster relief 540 54 0 47 439
Other reason 1041 721 40 213 67
Not reported 2908 1805 312 791 0
With no property benefits 208079 119810 21766 61361 5142
Not reported 30109 21554 3374 5075 105

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
100845 61473 8568 26568 4236
Property has never had tenants
receiving Section 8 assistance
160231 97695 18409 41502 2625
Not reported 29466 18436 1517 9420 93

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
171160 96581 16589 53230 4760
Limited partnership 46741 34153 2504 9159 926
Joint venture 3403 2139 921 344 0
General partnership 16178 10360 3030 2628 159
Life insurance company 257 113 0 144 0
Depository institution 248 248 0 0 0
Public real estate investment trust 565 395 0 112 58
Private real estate investment trust 204 204 0 0 0
Corporation - other than real estate
investment trust
34637 21681 4224 8170 562
Housing cooperative organization 1259 731 91 150 286
Non-profit or church-related institution 6571 4696 289 1433 153
Pension fund 0 0 0 0 0
Fraternal organization 8 0 0 8 0
Other 9312 6303 848 2112 49

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
294 294 0 0 0
By telephone or FAX 27184 15494 3313 8039 338
By regular mail 22619 13877 1949 6758 35
By personal visit 157357 91754 16979 43136 5489
Through third party (such as real
estate agent or builder)
42309 27536 2809 11586 379
Some other way 6552 4377 690 1317 168
Not reported 27531 19691 2124 5341 374
Not available 6695 4580 631 1315 170

Origin of First Mortgage

Mortgage made at time property acquired
210106 129833 20381 54721 5170
Mortgage assumed at the time property
acquired
16832 10379 1402 4761 290
Mortgage placed later than acquisition of
property
63604 37390 6711 18008 1495
Refinanced mortgage 58258 34630 6076 16056 1495
Same lender 17206 11524 1588 3820 273
Different lender 41051 23106 4488 12235 1222
Mortgage placed on property
owned free and clear of debt
5347 2760 635 1952 0
Not available 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
63604 37390 6711 18008 1495
Obtain lower interest rate 29099 20919 1984 5974 222
Increase payment period for mortgage 489 86 353 50 0
Reduce payment period for mortgage 1118 244 874 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
5231 2562 919 1643 107
Receive cash or increase outstanding
balance of loan
17531 8817 2108 5441 1166
Other reason 4761 2066 473 2222 0
Not reported 5376 2697 0 2678 0
Other properties 226938 140213 21783 59482 5460
Not available 0 0 0 0 0

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

Properties on which cash
received
29998 16593 2679 9751 976
Less than $100,000 12659 7171 1761 3448 280
$100,000 to $199,999 6523 3240 325 2425 533
$200,000 to $299,999 3028 1872 66 955 135
$300,000 to $399,999 2333 1485 326 522 0
$400,000 to $499,999 2498 856 134 1507 0
$500,000 to $749,999 1096 652 66 378 0
$750,000 to $999,999 556 404 0 124 28
$1,000,000 to $1,499,999 353 171 0 182 0
$1,500,000 to $1,999,999 102 92 0 10 0
$2,000,000 to $2,999,999 150 150 0 0 0
$3,000,000 to $3,999,999 201 0 0 201 0
$4,000,000 to $4,999,999 0 0 0 0 0
$5,000,000 or more 500 500 0 0 0
Not reported 0 0 0 0 0
Median 135879 134739 76076 158888 139054
Mean 345785 441277 128031 264707 130061
Properties that refinanced
and did not receive cash back
26642 16413 3981 5902 346
Properties that refinanced
and did not report if received
cash back
6964 4384 51 2355 173
Properties that did not
refinance
226938 140213 21783 59482 5460
Not available 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
29998 16593 2679 9751 976
For additions, improvements or repairs
to this property
13677 7106 1690 3999 883
To consolidate debts 7393 4686 1127 1487 93
For investment in other real estate 11509 5635 995 4736 143
For other types of investments 3515 2187 0 1235 93
For educational or medical expenses 2105 1678 228 199 0
To start a business 254 100 0 154 0
To settle a divorce 992 794 0 199 0
To pay taxes 1315 1031 0 284 0
To purchase an automobile, truck, or
other vehicle
628 628 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
1078 1078 0 0 0
Other 2652 1602 107 943 0
Not reported 459 298 0 161 0
Properties that refinanced
and did not receive cash back
26642 16413 3981 5902 346
Properties that refinanced
and did not report if received
cash back
6964 4384 51 2355 173
Properties that did not
refinance
226938 140213 21783 59482 5460
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
110869 59985 14539 33030 3315
1997 and 1998 57275 37990 4814 13395 1075
1995 and 1996 26321 16853 2502 6694 272
1990 to 1994 44435 26840 3009 13038 1548
1985 to 1989 27722 17119 1369 9029 205
1980 to 1984 9518 7589 418 1195 316
1979 or earlier 14403 11227 1843 1109 225

First Mortgage Insurance Status

FHA-insured first mortgage
19282 14806 1012 3081 383
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
12983 12415 301 93 175
Other federal, state, or local
government-insured or guaranteed
first mortgage
8999 5634 667 2306 392
Insured conventional first mortgage 25281 17225 1928 5176 953
Uninsured conventional first mortgage 223998 127523 24587 66835 5052
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $50,000
11355 8418 502 2265 170
$50,000 to $99,999 25217 14026 3536 5117 2538
$100,000 to $149,999 36407 24148 4179 6964 1117
$150,000 to $199,999 32139 19648 3284 8074 1132
$200,000 to $249,999 22900 13740 1910 7031 219
$250,000 to $299,999 20113 10934 591 8422 167
$300,000 to $399,999 26663 13690 4683 7830 460
$400,000 to $499,999 24188 14588 2753 6698 149
$500,000 to $749,999 37536 21316 3255 12716 250
$750,000 to $999,999 16739 10846 1031 4603 258
$1,000,000 to $1,499,999 17108 11464 1201 4074 369
$1,500,000 to $1,999,999 6208 3843 950 1356 59
$2,000,000 or more 5074 3325 203 1476 69
Not reported 8896 7617 416 863 0
Median 274117 264137 263002 298586 133150
Mean 442977 451001 394883 457984 275694

Total Mortgage Loan

Less than $50,000
11355 8418 502 2265 170
$50,000 to $99,999 22348 12118 3100 4592 2538
$100,000 to $149,999 35616 23583 4071 6846 1117
$150,000 to $199,999 30831 19424 3294 6981 1132
$200,000 to $249,999 21372 13319 1724 6236 93
$250,000 to $299,999 19629 10112 777 8574 167
$300,000 to $399,999 27132 13683 4667 8322 460
$400,000 to $499,999 24942 14876 3039 6879 149
$500,000 to $749,999 39447 22596 3248 13229 375
$750,000 to $999,999 18189 11784 895 5252 258
$1,000,000 to $1,499,999 17473 11892 1451 3843 287
$1,500,000 to $1,999,999 7209 4440 1048 1580 141
$2,000,000 or more 6159 3799 264 2027 69
Not reported 8840 7561 416 863 0
Median 290054 279373 301015 324385 131318
Mean 476096 475772 418425 514910 289212

Traditional First Mortgage Outstanding
Debt

Less than $50,000
21460 15355 2004 3680 421
$50,000 to $99,999 36878 22018 4264 7599 2997
$100,000 to $149,999 39607 24827 3998 9476 1306
$150,000 to $199,999 26871 16367 2371 7775 358
$200,000 to $249,999 24318 14564 1068 8558 129
$250,000 to $299,999 16332 7374 2731 5950 277
$300,000 to $399,999 28810 16200 3631 8516 463
$400,000 to $499,999 22012 12976 1740 7181 115
$500,000 to $749,999 29052 16404 3444 8861 343
$750,000 to $999,999 13821 9292 1229 3111 189
$1,000,000 to $1,499,999 14385 9443 1080 3574 288
$1,500,000 to $1,999,999 4439 2651 315 1438 35
$2,000,000 or more 3660 2515 203 908 34
Not reported 8896 7617 416 863 0
Median 228348 217511 253239 254255 101600
Mean 383645 388509 345899 399382 243767

Total Mortgage Outstanding Debt

Less than $50,000
19527 13857 1568 3680 421
$50,000 to $99,999 34995 20326 4663 7008 2997
$100,000 to $149,999 39390 25178 3773 9133 1306
$150,000 to $199,999 25325 15604 2343 7145 233
$200,000 to $249,999 22826 14551 805 7341 129
$250,000 to $299,999 18216 7790 2917 7232 277
$300,000 to $399,999 27601 15239 3450 8598 314
$400,000 to $499,999 23529 14440 2025 6800 263
$500,000 to $749,999 30771 17007 3435 9861 468
$750,000 to $999,999 14676 10046 1201 3240 189
$1,000,000 to $1,499,999 14968 9979 1221 3480 288
$1,500,000 to $1,999,999 5402 3261 413 1692 35
$2,000,000 or more 4606 2892 264 1415 34
Not reported 8711 7432 416 863 0
Median 241573 229170 261679 271839 101600
Mean 401545 396136 359175 442583 256010

Current Interest Rate on First Mortgage

Less than 6.0 percent
108685 69475 11004 25458 2748
6.0 percent 1991 755 47 859 329
6.1 to 6.4 percent 4614 930 211 3391 82
6.5 to 6.9 percent 12815 4059 2068 6551 137
7.0 percent 19223 13425 1464 4194 140
7.1 to 7.4 percent 12257 3792 1744 6721 0
7.5 to 7.9 percent 19584 7200 2877 9253 253
8.0 percent 8788 5094 1264 2255 175
8.1 to 8.4 percent 9388 4374 2825 1966 222
8.5 to 8.9 percent 18100 10224 1301 6329 246
9.0 percent 6530 5120 737 587 87
9.1 to 9.4 percent 5058 1893 277 654 2234
9.5 to 9.9 percent 5779 3841 644 1294 0
10.0 percent 3262 2020 413 830 0
10.1 to 10.4 percent 1563 1015 390 158 0
10.5 to 10.9 percent 2301 1967 0 335 0
11.0 percent 3036 2982 54 0 0
11.1 to 12.9 percent 3789 2981 476 264 69
13.0 percent 1202 1202 0 0 0
13.1 percent or more 42577 35254 698 6392 233
Not reported 0 0 0 0 0
Median 7.1 7.1 7.1 7.1 7.6

Type of Interest Rate Buydown

Properties with interest rate
buydown
578 98 47 433 0
Constant payment 98 98 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 167 0 0 167 0
Not reported 312 0 47 266 0
Properties without interest
rate buydown
117177 52964 16657 43532 4024
Not reported 172787 124540 11791 33525 2930

Term of First Mortgage

Less than 5 years
4723 1460 2433 722 107
5 years 8926 2325 5639 668 294
6 to 9 years 4723 839 2851 987 47
10 years 13250 5757 3006 4249 238
11 to 14 years 1953 487 341 1051 74
15 years 18228 10020 1054 7026 128
16 to 19 years 1640 549 842 249 0
20 years 10495 3908 476 5702 408
21 to 24 years 610 214 0 397 0
25 years 4515 1941 0 2339 234
26 to 29 years 1088 1054 0 34 0
30 years 61439 26826 1176 30775 2662
More than 30 years 11312 10945 0 285 82
No stated term 147641 111278 10677 23006 2680
Median 30 30 7 30 30

Unexpired Term of First Mortgage

Less than 5 years
14708 5227 6608 2579 294
5 to 9 years 24658 10278 7974 6012 393
10 to 14 years 20964 10627 1662 8145 531
15 to 19 years 18971 6319 594 11978 79
20 to 24 years 19800 9821 555 9121 303
25 to 29 years 28510 12512 236 13168 2593
30 or more years 15290 11539 188 3481 82
No stated term or not computed 147641 111278 10677 23006 2680
Median 18 20 6 19 26

Holder of First Mortgage

Commercial bank or trust company
68397 35201 12942 19562 693
Savings and loan association, federal
savings bank
49888 20168 3538 24310 1872
Mutual savings bank 8507 4545 461 3280 221
Life insurance company 8728 6610 852 781 484
Mortgage banker or mortgage company 12438 4741 431 7179 87
Federally-sponsored secondary market
agency or pool
78817 60546 5485 12252 534
Conventional mortgage pool 729 276 453 0 0
Other federal agency 14114 12805 328 811 170
Real estate investment trust 3866 552 188 966 2160
Pension or retirement fund 370 184 40 145 0
Credit union 7734 4567 476 2566 125
Finance company 2149 1005 239 906 0
State or municipal government or
housing finance agency
11513 8896 1135 1122 360
Individual or individual's estate 15633 12976 1265 1178 214
Other 7659 4530 663 2433 34

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
205304 124792 19509 56016 4987
Less than 40 percent 9583 6464 974 1976 169
40 to 49 percent 5390 3187 344 1587 272
50 to 59 percent 11083 5750 1296 4036 0
60 to 69 percent 25147 16609 1803 6074 662
70 to 79 percent 30982 14355 2867 13376 385
80 to 89 percent 33442 17370 2980 10501 2591
90 to 94 percent 7859 6425 1060 374 0
95 to 99 percent 9668 5972 1305 2391 0
100 percent or more 63920 41668 6554 14790 908
Not reported 8229 6993 324 912 0
Median 85 87 88 80 84
Other properties 85239 52811 8986 21474 1968
Not available 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
205304 124792 19509 56016 4987
Less than 40 percent 12279 6295 2233 3705 46
40 to 49 percent 5553 2983 718 1536 316
50 to 59 percent 10727 4819 1173 4661 74
60 to 69 percent 53025 34207 4778 13378 662
70 to 79 percent 38832 15947 3335 16748 2802
80 to 89 percent 27498 17004 3264 6938 292
90 to 94 percent 6317 5378 453 486 0
95 to 99 percent 7888 5800 415 1600 74
100 percent or more 35579 25940 2816 6100 722
Not reported 7607 6419 324 863 0
Median 74 77 72 73 75
Other properties 85239 52811 8986 21474 1968
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
14231 12222 708 1301 0
Not subprime loan 276311 165381 27787 76189 6955
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
84445 0 0 77490 6955
Treasury security 17602 0 0 14816 2786
Average cost of funds in bank district 22863 0 0 22863 0
National average cost of funds 1363 0 0 1363 0
OTS contract mortgage rate 0 0 0 0 0
Other method 12368 0 0 11884 484
No index used 787 0 0 32 754
Not reported 29463 0 0 26532 2930
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
84445 0 0 77490 6955
Monthly 23109 0 0 23109 0
Every 3 months 1051 0 0 1051 0
Every 6 months 4653 0 0 4653 0
Yearly 11299 0 0 10801 498
Every 3 years 3736 0 0 3736 0
Every 5 years 5460 0 0 5304 156
Other 7142 0 0 4332 2810
Not reported 27993 0 0 24503 3491
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
84445 0 0 77490 6955
Less than 1 percent 1853 0 0 1853 0
1 percent 51 0 0 51 0
1.1 to 1.9 percent 1275 0 0 1275 0
2 percent 10081 0 0 7781 2300
2.1 to 2.9 percent 1713 0 0 1564 149
3 percent 2100 0 0 2100 0
3.1 to 3.9 percent 442 0 0 442 0
4.0 percent or more 2556 0 0 2556 0
No caps 33520 0 0 32460 1060
Not reported 30855 0 0 27408 3446
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
84445 0 0 77490 6955
Less than 1 percent 1624 0 0 1624 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 166 0 0 166 0
3 percent 448 0 0 448 0
3.1 to 3.9 percent 660 0 0 660 0
4.0 percent or more 27110 0 0 24535 2575
No caps 19306 0 0 18406 901
Not reported 35130 0 0 31651 3479
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
84445 0 0 77490 6955
Yes, rate has changed 40100 0 0 39259 841
No change since mortgage made 15847 0 0 12949 2897
Not reported 28499 0 0 25282 3217
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
84445 0 0 77490 6955
Less than 1 percent 977 0 0 788 189
1 percent 0 0 0 0 0
1.1 to 1.9 percent 678 0 0 551 126
2 percent 2604 0 0 2604 0
2.1 to 2.9 percent 31652 0 0 29047 2605
3 percent 5902 0 0 5812 90
3.1 to 3.9 percent 5750 0 0 5630 120
4 percent 1865 0 0 1865 0
4.1 to 4.9 percent 540 0 0 540 0
5 percent or more 2806 0 0 2806 0
Not reported 31671 0 0 27846 3825
Median 2.7 0.0 0.0 2.7 2.5
Other properties 206098 177603 28495 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
84445 0 0 77490 6955
Can be converted 2430 0 0 2430 0
Cannot be converted 45323 0 0 41600 3722
Not reported 36693 0 0 33460 3232
Other properties 206098 177603 28495 0 0
Not reported 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
7549 0 0 7354 194
Payments can change monthly 157 0 0 70 87
Payments can change every three months 326 0 0 326 0
Payments can change every six months 309 0 0 309 0
Payments can change yearly 6358 0 0 6358 0
Payments can change every 3 years 209 0 0 209 0
Payments can change every 5 years 0 0 0 0 0
Other 189 0 0 82 107
Not reported 0 0 0 0 0
Monthly payments cannot
change
253306 177603 28495 43591 3618
Not reported 29688 0 0 26545 3143

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
7549 0 0 7354 194
Yes, unrestricted negative amortization 163 0 0 163 0
Yes, restricted negative amortization 5642 0 0 5642 0
No negative amortization allowed 1684 0 0 1490 194
Not reported 60 0 0 60 0
Monthly payments cannot change 253306 177603 28495 43591 3618
Not reported 29688 0 0 26545 3143

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
273614 166588 27553 73157 6316
Interest and principal 272787 166153 27327 72992 6316
Fully amortized 216495 145227 1386 64157 5725
Not fully amortized 56292 20926 25941 8835 591
Interest only 827 435 227 165 0
No regular payments required 4225 732 469 2670 354
Not reported 12704 10282 473 1663 285

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
272787 166153 27327 72992 6316
Real estate taxes 46431 21912 4179 19944 396
Property insurance 22769 13715 1258 7676 120
Mortgage insurance 3944 3472 0 472 0
Other 11917 8814 237 2866 0
No items included or not reported 224347 143293 22944 52191 5919
No regular payments of interest
and principal
17755 11450 1168 4499 639

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
286318 176871 28026 74820 6601
Less than $100 41013 28414 3550 8430 620
$100 to $199 79024 44785 7614 22435 4189
$200 to $299 63177 37651 5751 18955 821
$300 to $399 29951 18884 2876 7739 452
$400 to $499 17033 9485 2417 4897 234
$500 to $599 10933 5808 1950 3174 0
$600 to $699 5976 4543 0 1433 0
$700 to $799 4594 3602 390 601 0
$800 to $899 3258 2099 32 1127 0
$900 to $999 1891 612 1176 102 0
$1,000 to $1,249 2541 1353 348 841 0
$1,250 to $1,499 2641 1591 0 1050 0
$1,500 or more 11584 7762 1449 2374 0
Not reported 12704 10282 473 1663 285
Median 227 227 245 230 161
Mean 597 657 811 416 163
No regular payments required 4225 732 469 2670 354

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
286318 176871 28026 74820 6601
Up-to-date, ahead of schedule, or
less than 90 days past due
124893 55131 16010 50082 3671
Delinquent by 90 days or more 697 557 44 96 0
Legal proceedings have begun 481 481 0 0 0
Legal proceedings have not begun 216 76 44 96 0
Not reported 0 0 0 0 0
Not reported 160727 121183 11972 24642 2930
Other properties 4225 732 469 2670 354

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
286318 176871 28026 74820 6601
Less than $100 51345 37550 3277 9613 905
$100 to $199 75240 42401 7260 21390 4189
$200 to $299 65277 38582 6748 19127 821
$300 to $399 32110 19978 2980 8701 452
$400 to $499 16405 9142 2386 4643 234
$500 to $599 11773 6968 1981 2824 0
$600 to $699 6084 4350 0 1734 0
$700 to $799 5429 4163 390 876 0
$800 to $899 3275 2161 32 1082 0
$900 to $999 1891 612 1176 102 0
$1,000 to $1,249 2635 1402 348 886 0
$1,250 to $1,499 2512 1402 0 1110 0
$1,500 or more 12342 8160 1449 2733 0
Not reported 0 0 0 0 0
Median 225 222 252 233 157
Mean 590 628 803 456 173
No regular payments required 4225 732 469 2670 354

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

Acquired before 2000 and
regular payments of interest
and/or princi
226297 140886 20904 60764 3743
Less than 20 percent 19246 12511 2096 4393 246
20 to 29 percent 27210 14733 2065 9750 662
30 to 39 percent 30811 18774 2095 9718 224
40 to 49 percent 36392 21174 3590 10581 1048
50 to 59 percent 25701 14795 3048 6794 1064
60 to 69 percent 17496 13636 2057 1803 0
70 to 79 percent 12280 10545 428 1249 58
80 to 89 percent 8556 5073 1085 2398 0
90 to 99 percent 4359 2325 387 1466 181
100 percent or more 43390 26762 3934 12435 260
Not reported or not computed 856 560 118 178 0
Median 50 52 52 46 47
Other properties 64245 36717 7590 16727 3212

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

Acquired before 2000 and regular
payments of interest and/or
principal
226962 141005 21002 61212 3743
Less than 20 percent 18553 11977 1631 4699 246
20 to 29 percent 25294 13872 1944 8816 662
30 to 39 percent 29531 17898 1847 9563 224
40 to 49 percent 37247 21612 4329 10259 1048
50 to 59 percent 25590 14286 3145 7095 1064
60 to 69 percent 18867 14241 2092 2534 0
70 to 79 percent 12484 10656 491 1279 58
80 to 89 percent 9337 5939 1085 2312 0
90 to 99 percent 4183 2450 146 1406 181
100 percent or more 45020 27514 4175 13071 260
Not reported or not computed 856 560 118 178 0
Median 51 53 52 47 47
Other properties 63580 36598 7492 16278 3212

Real Estate Tax Per $1,000 Value

Acquired before 2000
240274 149333 21790 64770 4382
Less than $5 47303 30591 3884 12215 613
$5 to $9 51493 29466 3990 16920 1116
$10 to $14 51255 29156 4266 17524 309
$15 to $19 24607 16284 2801 4881 640
$20 to $24 22527 14689 2706 4291 841
$25 to $29 12384 8127 1506 2705 46
$30 to $39 27320 18284 2544 5674 817
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 26 26 0 0 0
Not reported or not computed 3360 2709 92 559 0
Median 12 12 13 11 16
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
240274 149333 21790 64770 4382
Less than 5 percent 35298 22103 2943 9682 570
5 to 9 percent 86795 51388 7390 26513 1504
10 to 14 percent 49229 31579 5136 10865 1649
15 to 19 percent 31443 21451 2309 7594 90
20 to 24 percent 11274 5465 413 5156 239
25 to 29 percent 6487 3638 1530 1319 0
30 to 34 percent 5614 4574 489 550 0
35 to 39 percent 1470 1440 0 30 0
40 percent or more 8449 4426 1369 2324 330
Not reported or not computed 4216 3269 211 737 0
Median 10 10 10 9 10
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Property Management

Property managed by paid property
management company
129207 80765 11518 34867 2056
Property not managed by paid property
management company
139461 82476 15790 36501 4695
Not reported 21875 14362 1187 6122 204

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
240274 149333 21790 64770 4382
Less than $100 5408 3138 36 1996 239
$100 to $199 9026 4041 1161 3825 0
$200 to $299 14707 7077 1354 6157 119
$300 to $399 15363 9391 992 4727 253
$400 to $499 12564 7552 1051 3374 588
$500 to $599 10511 5746 538 4192 35
$600 to $699 8122 4865 510 2680 67
$700 to $799 5903 4512 403 882 106
$800 to $899 3726 2019 1214 383 110
$900 to $999 2138 1540 26 572 0
$1,000 to $1,249 6416 4197 620 1262 336
$1,250 to $1,499 2817 1696 235 761 125
$1,500 to $1,999 3810 2597 335 497 381
$2,000 to $2,499 1278 559 357 362 0
$2,500 or more 7229 5638 852 739 0
No expenses 88549 56044 9066 21865 1574
Not reported or not computed 42707 28722 3040 10496 449
Median 480 519 546 389 497
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
240274 149333 21790 64770 4382
Less than $100 5481 3446 701 1096 239
$100 to $199 14806 8896 1519 3954 436
$200 to $299 16557 9141 1853 5040 523
$300 to $399 15611 10658 880 3615 459
$400 to $499 14478 8750 1232 4236 259
$500 to $599 13882 8253 1578 3984 67
$600 to $699 11349 7153 438 3440 318
$700 to $799 15288 8433 400 6310 146
$800 to $899 11047 5947 2014 2916 170
$900 to $999 7296 5218 254 1823 0
$1,000 to $1,249 16101 9803 1729 4322 247
$1,250 to $1,499 12311 8494 839 2836 142
$1,500 to $1,999 10309 5642 1525 2653 489
$2,000 to $2,499 5577 3265 712 1600 0
$2,500 or more 15827 10223 1713 3891 0
No expenses 5319 3976 680 433 229
Not reported or not computed 49035 32034 3722 12621 658
Median 705 704 805 708 435
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
240274 149333 21790 64770 4382
Less than $250 27131 16558 2212 7602 759
$250 to $499 50555 28523 5179 16215 639
$500 to $749 42694 26049 3955 12306 384
$750 to $999 23615 13223 2362 6940 1090
$1,000 to $1,249 14799 9424 1441 3443 490
$1,250 to $1,499 5724 3937 965 822 0
$1,500 to $1,749 3459 2717 36 706 0
$1,750 to $1,999 2825 2250 248 326 0
$2,000 to $2,499 2642 1738 331 573 0
$2,500 or more 6779 3405 1647 1727 0
No expenses 15008 10151 356 3961 540
Not reported or not computed 45043 31358 3056 10148 481
Median 573 585 614 531 684
Acquired 2000 and 2001 (part) 50268 28270 6705 12720 2573

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