U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - Northeast
Table 6-2b. 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
64252 41570 7597 11523 3562

PROPERTY CHARACTERISTICS


Number of Housing Units

5 to 9 housing units
35166 22054 4232 6158 2722
10 to 19 housing units 11933 8214 1232 2161 326
20 to 29 housing units 7605 4987 972 1419 227
30 to 39 housing units 5419 3378 585 1168 288
40 to 49 housing units 4129 2937 576 617 0

Manner of Acquisition

By purchase
57917 36306 7104 10945 3562
Placed one new mortgage 44310 29654 5274 8251 1131
Placed two or more new mortgages 7181 3277 445 1028 2431
Assumed mortgage(s) already on property 3337 2420 623 294 0
Assumed mortgage(s) already on property
and placed new mortgage
1107 805 9 293 0
Borrowed using assets other than this
property as collateral
959 44 306 609 0
Paid all cash-no borrowing 317 106 150 61 0
Other manner 706 0 297 409 0
By inheritance or gift 2722 2367 355 0 0
By divorce 80 80 0 0 0
By tax free exchange of
other property
0 0 0 0 0
By foreclosure or assignment 939 626 8 305 0
By some other manner 1086 858 0 227 0
Not reported 1508 1333 130 45 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
29662 18570 2501 6079 2512
Sale of stock or other partnership
shares for this project
634 350 119 166 0
Sale of previously owned stocks,
shares, or other securities
1295 559 0 662 74
Sale of land or other real estate 2137 1790 40 228 79
Owner's cash, bank deposits,
share accounts, or bonds
16763 9435 1533 3562 2234
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
2487 1464 288 661 74
Proceeds from an insurance policy 0 0 0 0 0
From a state or local government source 425 202 98 0 125
From a non-profit organization 181 56 0 0 125
Proceeds from sale of tax credits 463 240 98 0 125
From parents or relatives 1222 653 0 569 0
Other cash source 261 219 41 0 0
Non-cash source 168 0 0 168 0
No downpayment required 2734 2295 232 207 0
Not reported 3022 2519 150 279 74
Other properties 33269 21854 4966 5399 1050
Not reported 1321 1146 130 45 0

Year Property Acquired

1999 to 2001 (part)
19262 12308 1521 3000 2433
1997 and 1998 9070 6901 534 1555 79
1995 and 1996 5706 3447 584 1675 0
1990 to 1994 7317 4577 632 1497 612
1985 to 1989 8360 5575 941 1460 385
1980 to 1984 5391 2955 1614 768 54
1975 to 1979 2641 1126 642 873 0
1970 to 1974 3716 3020 353 343 0
1969 or earlier 2789 1661 776 352 0

Property New or Previously Owned When
Acquired

Acquired by purchase
57917 36306 7104 10945 3562
New 7090 4924 808 1358 0
Previously owned 49483 30218 6241 9461 3562
As residential property 46016 27963 5533 8959 3562
Converted from nonresidential use 3466 2255 709 502 0
Other 903 822 0 81 0
Not reported 442 342 54 45 0
Other properties 4827 3931 363 533 0
Not reported 1508 1333 130 45 0

Year Structure Built

1999 to March 2000
2632 1602 136 768 125
1997 and 1998 624 58 63 504 0
1995 and 1996 763 623 92 48 0
1990 to 1994 1468 956 334 127 49
1980 to 1989 4671 3772 219 680 0
1970 to 1979 5044 3562 367 1036 79
1960 to 1969 5220 2995 921 1245 59
1950 to 1959 4353 3792 243 318 0
1940 to 1949 6333 5034 146 914 239
1939 or earlier 33144 19176 5076 5882 3011

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
25390 16359 2009 4510 2512
Less than $20,000 9015 4882 567 1206 2359
$20,000 to $39,999 9421 6537 1050 1681 153
$40,000 to $59,999 3367 2827 133 407 0
$60,000 to $79,999 1561 937 157 468 0
$80,000 to $99,999 751 206 41 504 0
$100,000 to $124,999 61 0 61 0 0
$125,000 to $149,999 490 490 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 44 44 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 52 52 0 0 0
$300,000 to $499,999 182 182 0 0 0
$500,000 or more 243 0 0 243 0
Median 27598 29779 28335 32474 10648
Mean 39596 36747 33329 64563 18103
Other properties 38863 25212 5588 7013 1050

Value

Less than $100,000
4132 1333 0 310 2489
$100,000 to $199,999 10877 8886 528 1338 125
$200,000 to $299,999 7606 5397 487 1721 0
$300,000 to $399,999 7402 4626 1183 1593 0
$400,000 to $499,999 4586 2851 1029 235 472
$500,000 to $749,999 6795 4909 229 1504 153
$750,000 to $999,999 6572 3517 1429 1415 210
$1,000,000 to $1,499,999 6535 3608 861 2007 59
$1,500,000 to $1,999,999 3156 2533 170 399 54
$2,000,000 to $2,999,999 2379 1504 520 355 0
$3,000,000 to $3,999,999 1652 665 678 309 0
$4,000,000 to $4,999,999 714 232 433 50 0
$5,000,000 or more 1848 1509 51 288 0
Median 446006 419069 809888 593915 71554
Mean 900201 913799 1189716 863808 241835

Value Per Housing Unit@8

Less than $20,000
10192 5348 381 1849 2615
$20,000 to $39,999 21263 15065 1937 3688 574
$40,000 to $59,999 12264 8863 1536 1491 374
$60,000 to $79,999 9532 6475 839 2218 0
$80,000 to $99,999 2939 1767 701 471 0
$100,000 to $124,999 2070 1145 218 707 0
$125,000 to $149,999 2518 766 1289 463 0
$150,000 to $174,999 837 445 0 393 0
$175,000 to $199,999 284 284 0 0 0
$200,000 to $249,999 171 120 51 0 0
$250,000 to $299,999 499 244 255 0 0
$300,000 to $499,999 999 999 0 0 0
$500,000 or more 685 51 390 243 0
Median 41095 40841 59276 43020 13625
Mean 62292 56696 111836 62137 22437

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
36166 24982 4352 6082 751
Less than $5,000 6655 4686 725 1012 233
$5,000 to $9,999 4637 4243 64 330 0
$10,000 to $24,999 10203 7179 1202 1529 293
$25,000 to $49,999 5631 3852 928 792 59
$50,000 to $74,999 3036 1969 178 889 0
$75,000 to $99,999 1092 731 0 282 79
$100,000 to $149,999 1871 841 0 943 87
$150,000 to $199,999 1879 710 1122 47 0
$200,000 to $299,999 632 499 133 0 0
$300,000 or more 531 272 0 259 0
Median 19985 17443 29996 30387 17301
Mean 53842 47897 64462 72790 36595
Properties with no capital
improvements between 1998 and 2000
16844 9588 1357 3162 2738
Capital improvements not
reported
11242 7001 1889 2278 74

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
36166 24982 4352 6082 751
Less than $500 5247 3180 908 873 287
$500 to $999 9391 7749 311 1332 0
$1,000 to $2,499 10079 7328 1025 1429 298
$2,500 to $4,999 5459 3928 852 599 79
$5,000 to $7,499 1453 964 44 358 87
$7,500 to $9,999 582 250 89 243 0
$10,000 to $14,999 2482 1491 0 990 0
$15,000 to $19,999 304 0 304 0 0
$20,000 to $29,999 818 0 818 0 0
$30,000 or more 352 93 0 259 0
Median 1513 1320 2400 1879 1446
Mean 3856 2579 7867 6462 2012
Properties with no capital
improvements between 1998 and 2000
16844 9588 1357 3162 2738
Capital improvements not
reported
11242 7001 1889 2278 74

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
49107 31638 6285 9855 1329
Less than $100 3751 2274 295 1103 79
$100 to $199 2964 2252 139 573 0
$200 to $299 7289 5473 1128 360 329
$300 to $399 4325 3461 450 414 0
$400 to $499 9185 5302 337 3367 179
$500 to $599 5773 3497 258 1474 545
$600 to $799 4449 2568 1094 651 136
$800 to $999 6266 3810 1379 1076 0
$1000 or more 5105 3002 1205 838 59
No rental receipts 0 0 0 0 0
Median 468 445 698 474 514
Mean 829 628 1101 1347 465
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Rental Receipts as Percent of Value@8

Acquired before 2000
49107 31638 6285 9855 1329
Less than 5 percent 1720 1157 98 465 0
5 to 9 percent 13941 7805 3380 2677 79
10 to 14 percent 13710 9623 962 2837 287
15 to 19 percent 9286 6950 791 1458 87
20 to 24 percent 4317 2301 554 1224 239
25 to 29 percent 2488 1532 54 573 329
30 to 39 percent 1249 1034 50 43 123
40 percent or more 2396 1237 396 578 184
Median 13 14 10 13 24
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
49107 31638 6285 9855 1329
Less than 1.0 percent 8057 5329 773 1722 233
1.0 to 2.9 percent 5758 3436 1036 1161 125
3.0 to 4.9 percent 5976 2263 1351 1854 508
5.0 to 6.9 percent 2459 2199 105 155 0
7.0 to 8.9 percent 2755 2001 246 453 54
9.0 to 10.9 percent 1549 437 54 1057 0
11.0 to 12.9 percent 384 224 53 106 0
13.0 to 14.9 percent 1237 1122 61 53 0
15.0 percent or more 6039 4545 235 929 329
Not reported or not computed 14893 10081 2370 2364 79
Median 4.1 4.8 3.2 3.9 4.0
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Age Restrictions

Property restricted to people
age 55 or older
11378 6851 1543 2898 87
Property not restricted to people
age 55 or older
49322 33556 5924 8528 1315
Not reported 3552 1164 130 97 2160

Age Composition

Over one-half the residents of the
building age 55 or older
2928 1916 318 695 0
Over one-half the residents of the
building not age 55 or older
47394 31609 5529 6781 3476
Not reported 13930 8046 1750 4048 87

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

Property provides meal service
8139 4388 1470 2194 87
Charge included in rent 5974 3350 1116 1422 87
Charge not included in rent 32 0 32 0 0
Not reported 2133 1038 322 773 0
Property does not provide meal
service
3696 2565 437 695 0
Not reported 52417 34617 5690 8634 3476

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
3427 2839 334 128 125
Government rental subsidy 10244 7558 586 1430 670
Government grant 470 302 43 0 125
Property tax relief 1690 551 145 870 125
Federal income tax credit for
low-income, old or historic properties
825 602 98 0 125
Accelerated federal income tax
depreciation for low- and
moderate-income properties
246 246 0 0 0
Subsidy from a non-profit corporation 356 65 0 166 125
None of the above benefits 46212 28695 6031 8593 2892
Not reported 4093 3061 646 386 0

Source of Property Benefits@1

With property benefits
13947 9814 920 2544 670
Federal government 10578 7918 472 1518 670
State government 2314 1472 84 708 49
Local government 1177 655 187 286 49
Non-profit corporation 356 65 0 166 125
Not reported 300 0 300 0 0
With no property benefits 46212 28695 6031 8593 2892
Not reported 4093 3061 646 386 0

Reason for Benefits@1

With property benefits
13947 9814 920 2544 670
Occupied by low- or moderate-income
individuals
10269 7669 608 1323 670
Occupied by elderly or disabled
individuals
4027 2462 495 1021 49
A historic structure 59 59 0 0 0
Located in a community development or
economic development area
863 799 0 64 0
Covered by a Homestead Exemption 0 0 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 848 711 0 137 0
Not reported 656 206 312 138 0
With no property benefits 46212 28695 6031 8593 2892
Not reported 4093 3061 646 386 0

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
25130 15248 2127 4506 3250
Property has never had tenants
receiving Section 8 assistance
35213 23917 5248 5736 312
Not reported 3909 2405 223 1281 0

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
36078 23732 3819 5818 2709
Limited partnership 9383 6687 676 1723 298
Joint venture 710 124 586 0 0
General partnership 3251 2051 807 319 74
Life insurance company 0 0 0 0 0
Depository institution 0 0 0 0 0
Public real estate investment trust 8 8 0 0 0
Private real estate investment trust 84 84 0 0 0
Corporation - other than real estate
investment trust
12180 7019 1575 3154 432
Housing cooperative organization 706 465 91 150 0
Non-profit or church-related institution 908 806 43 60 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 944 595 0 299 49

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
28 28 0 0 0
By telephone or FAX 5716 4287 607 736 87
By regular mail 4830 2779 747 1303 0
By personal visit 35789 22018 4539 6228 3003
Through third party (such as real
estate agent or builder)
8956 6067 700 1892 298
Some other way 1107 1015 43 0 49
Not reported 6435 4137 810 1363 125
Not available 1390 1238 152 0 0

Origin of First Mortgage

Mortgage made at time property acquired
44201 29296 4188 7730 2987
Mortgage assumed at the time property
acquired
3409 2463 631 314 0
Mortgage placed later than acquisition of
property
16643 9812 2778 3478 575
Refinanced mortgage 14526 8560 2778 2613 575
Same lender 4390 2766 679 945 0
Different lender 10135 5794 2099 1667 575
Mortgage placed on property
owned free and clear of debt
2118 1252 0 866 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
16643 9812 2778 3478 575
Obtain lower interest rate 8543 5755 637 2047 103
Increase payment period for mortgage 306 0 306 0 0
Reduce payment period for mortgage 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
1635 630 919 86 0
Receive cash or increase outstanding
balance of loan
4183 2113 865 733 472
Other reason 748 697 51 0 0
Not reported 1229 617 0 612 0
Other properties 47609 31758 4819 8044 2987
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
7432 4244 469 2437 282
Less than $100,000 3004 1790 306 676 233
$100,000 to $199,999 1991 1327 0 664 0
$200,000 to $299,999 526 192 0 285 49
$300,000 to $399,999 50 0 50 0 0
$400,000 to $499,999 865 252 47 566 0
$500,000 to $749,999 266 200 66 0 0
$750,000 to $999,999 312 266 0 45 0
$1,000,000 to $1,499,999 0 0 0 0 0
$1,500,000 to $1,999,999 43 43 0 0 0
$2,000,000 to $2,999,999 0 0 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 174 174 0 0 0
Not reported 0 0 0 0 0
Median 135758 125055 76621 181712 60621
Mean 447003 504942 214961 431893 91853
Properties that refinanced
and did not receive cash back
7217 3679 2258 1042 239
Properties that refinanced
and did not report if received
cash back
1994 1888 51 0 54
Properties that did not
refinance
47609 31758 4819 8044 2987
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
7432 4244 469 2437 282
For additions, improvements or repairs
to this property
4461 2484 163 1532 282
To consolidate debts 2005 1231 353 421 0
For investment in other real estate 2768 1345 66 1308 49
For other types of investments 1257 968 0 289 0
For educational or medical expenses 199 0 0 199 0
To start a business 154 0 0 154 0
To settle a divorce 199 0 0 199 0
To pay taxes 237 38 0 199 0
To purchase an automobile, truck, or
other vehicle
509 509 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
367 367 0 0 0
Other 232 152 0 80 0
Not reported 141 141 0 0 0
Properties that refinanced
and did not receive cash back
7217 3679 2258 1042 239
Properties that refinanced
and did not report if received
cash back
1994 1888 51 0 54
Properties that did not
refinance
47609 31758 4819 8044 2987
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
28523 16519 3446 6046 2512
1997 and 1998 14240 10164 930 2538 608
1995 and 1996 5251 3527 840 830 54
1990 to 1994 6887 4432 875 1250 329
1985 to 1989 4044 3089 354 542 59
1980 to 1984 2973 2295 405 273 0
1979 or earlier 2334 1544 747 43 0

First Mortgage Insurance Status

FHA-insured first mortgage
3473 1857 689 694 233
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
1409 1234 0 0 175
Other federal, state, or local
government-insured or guaranteed
first mortgage
1694 1398 0 236 59
Insured conventional first mortgage 5229 3893 423 913 0
Uninsured conventional first mortgage 52449 33188 6486 9679 3096
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $50,000
1441 1214 0 227 0
$50,000 to $99,999 6799 3661 436 463 2239
$100,000 to $149,999 12029 9395 0 2067 568
$150,000 to $199,999 6703 3840 1384 1247 233
$200,000 to $249,999 5178 3729 394 930 125
$250,000 to $299,999 3468 3334 0 60 74
$300,000 to $399,999 5958 3536 1909 426 87
$400,000 to $499,999 4041 1518 860 1664 0
$500,000 to $749,999 7233 3359 1075 2726 74
$750,000 to $999,999 3073 1921 298 750 103
$1,000,000 to $1,499,999 3764 2908 500 356 0
$1,500,000 to $1,999,999 1737 1020 563 95 59
$2,000,000 or more 1386 1120 86 180 0
Not reported 1442 1017 92 333 0
Median 234420 222228 365862 407708 89113
Mean 435637 438465 529762 447761 167066

Total Mortgage Loan

Less than $50,000
1441 1214 0 227 0
$50,000 to $99,999 6289 3151 436 463 2239
$100,000 to $149,999 11865 9231 0 2067 568
$150,000 to $199,999 6141 3723 1167 1018 233
$200,000 to $249,999 5125 3870 394 861 0
$250,000 to $299,999 3172 3038 0 60 74
$300,000 to $399,999 6535 3599 2126 724 87
$400,000 to $499,999 4376 1853 860 1664 0
$500,000 to $749,999 6704 2816 1075 2614 199
$750,000 to $999,999 3526 2418 200 804 103
$1,000,000 to $1,499,999 3923 3071 439 414 0
$1,500,000 to $1,999,999 2001 1185 661 95 59
$2,000,000 or more 1768 1441 148 180 0
Not reported 1386 961 92 333 0
Median 245824 230926 367044 407708 89113
Mean 469887 475451 561629 477926 187937

Traditional First Mortgage Outstanding
Debt

Less than $50,000
3013 2470 233 311 0
$50,000 to $99,999 10906 6367 378 1592 2568
$100,000 to $149,999 10004 7622 602 1541 239
$150,000 to $199,999 7425 4856 1082 1128 358
$200,000 to $249,999 4596 3879 0 717 0
$250,000 to $299,999 2903 1342 1316 171 74
$300,000 to $399,999 7077 4010 1330 1650 87
$400,000 to $499,999 2040 770 247 1022 0
$500,000 to $749,999 6181 3224 931 1898 128
$750,000 to $999,999 2841 1746 387 659 49
$1,000,000 to $1,499,999 3716 2656 732 269 59
$1,500,000 to $1,999,999 1124 843 180 101 0
$2,000,000 or more 985 768 86 131 0
Not reported 1442 1017 92 333 0
Median 196604 184967 303884 305072 84674
Mean 383468 385257 471313 390793 155027

Total Mortgage Outstanding Debt

Less than $50,000
2406 1862 233 311 0
$50,000 to $99,999 10766 6228 378 1592 2568
$100,000 to $149,999 9987 7605 602 1541 239
$150,000 to $199,999 6704 4707 865 899 233
$200,000 to $249,999 4690 4041 0 649 0
$250,000 to $299,999 3016 1455 1316 171 74
$300,000 to $399,999 7561 3980 1547 1947 87
$400,000 to $499,999 1963 840 247 876 0
$500,000 to $749,999 6009 2839 931 1986 253
$750,000 to $999,999 3244 2250 228 717 49
$1,000,000 to $1,499,999 3742 2682 732 269 59
$1,500,000 to $1,999,999 1472 1093 278 101 0
$2,000,000 or more 1306 1028 148 131 0
Not reported 1386 961 92 333 0
Median 208896 193166 314199 319562 84674
Mean 404511 407825 492281 405365 175897

Current Interest Rate on First Mortgage

Less than 6.0 percent
18906 13587 2569 2276 473
6.0 percent 712 242 0 141 329
6.1 to 6.4 percent 56 56 0 0 0
6.5 to 6.9 percent 1644 1156 294 194 0
7.0 percent 4557 4179 76 301 0
7.1 to 7.4 percent 2601 1154 81 1366 0
7.5 to 7.9 percent 5833 2180 943 2577 133
8.0 percent 1796 827 473 496 0
8.1 to 8.4 percent 2599 1035 1112 378 74
8.5 to 8.9 percent 3867 2720 391 756 0
9.0 percent 1631 914 277 353 87
9.1 to 9.4 percent 2501 47 0 221 2234
9.5 to 9.9 percent 1543 891 0 652 0
10.0 percent 1607 798 98 711 0
10.1 to 10.4 percent 390 0 390 0 0
10.5 to 10.9 percent 512 512 0 0 0
11.0 percent 1033 1033 0 0 0
11.1 to 12.9 percent 889 551 255 83 0
13.0 percent 266 266 0 0 0
13.1 percent or more 11311 9424 638 1016 233
Not reported 0 0 0 0 0
Median 7.8 7.6 7.9 7.8 9.2

Type of Interest Rate Buydown

Properties with interest rate
buydown
266 0 0 266 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 0 0 0 0 0
Not reported 266 0 0 266 0
Properties without interest
rate buydown
27567 14303 4339 6068 2857
Not reported 36420 27268 3258 5189 705

Term of First Mortgage

Less than 5 years
499 428 71 0 0
5 years 2329 742 1392 194 0
6 to 9 years 1727 225 1134 368 0
10 years 4129 1489 847 1793 0
11 to 14 years 670 123 68 405 74
15 years 6981 4990 315 1548 128
16 to 19 years 478 130 347 0 0
20 years 2569 1013 0 1147 408
21 to 24 years 96 96 0 0 0
25 years 1095 610 0 485 0
26 to 29 years 178 178 0 0 0
30 years 9799 4969 852 1585 2393
More than 30 years 1300 1300 0 0 0
No stated term 32403 25277 2569 3997 559
Median 16 20 10 16 30

Unexpired Term of First Mortgage

Less than 5 years
3812 1870 1196 746 0
5 to 9 years 6449 2683 2547 1218 0
10 to 14 years 7920 4306 355 2728 531
15 to 19 years 3039 1443 277 1240 79
20 to 24 years 3177 2283 458 436 0
25 to 29 years 5137 1441 196 1107 2393
30 or more years 2316 2267 0 49 0
No stated term or not computed 32403 25277 2569 3997 559
Median 14 14 8 13 27

Holder of First Mortgage

Commercial bank or trust company
13226 7826 2293 3049 59
Savings and loan association, federal
savings bank
10953 6556 1563 2138 696
Mutual savings bank 3240 1193 89 1805 153
Life insurance company 3179 2640 306 0 233
Mortgage banker or mortgage company 3393 2947 359 0 87
Federally-sponsored secondary market
agency or pool
16121 12336 1725 2061 0
Conventional mortgage pool 79 41 38 0 0
Other federal agency 1757 1582 120 55 0
Real estate investment trust 3866 552 188 966 2160
Pension or retirement fund 156 156 0 0 0
Credit union 2128 1542 0 461 125
Finance company 529 144 0 384 0
State or municipal government or
housing finance agency
2390 1789 601 0 0
Individual or individual's estate 2480 1909 316 205 49
Other 754 355 0 398 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
42621 27591 4377 7666 2987
Less than 40 percent 2158 1744 335 0 79
40 to 49 percent 1308 626 0 681 0
50 to 59 percent 1107 583 44 480 0
60 to 69 percent 4723 3060 323 1253 87
70 to 79 percent 6079 3339 657 2010 74
80 to 89 percent 6768 3367 519 722 2160
90 to 94 percent 1977 1795 129 53 0
95 to 99 percent 1922 1475 402 45 0
100 percent or more 15139 10494 1969 2088 587
Not reported 1441 1108 0 333 0
Median 88 91 97 76 86
Other properties 21632 13979 3220 3857 575
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
42621 27591 4377 7666 2987
Less than 40 percent 2505 2003 274 229 0
40 to 49 percent 946 493 0 453 0
50 to 59 percent 2595 1100 259 1162 74
60 to 69 percent 11818 8141 882 2709 87
70 to 79 percent 7880 3167 245 2229 2239
80 to 89 percent 3477 2534 892 51 0
90 to 94 percent 1107 1024 31 53 0
95 to 99 percent 1594 1119 402 0 74
100 percent or more 9460 7105 1393 448 514
Not reported 1239 906 0 333 0
Median 74 75 86 67 76
Other properties 21632 13979 3220 3857 575
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
3289 2946 187 156 0
Not subprime loan 60963 38624 7410 11367 3562
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
15085 0 0 11523 3562
Treasury security 5512 0 0 3224 2288
Average cost of funds in bank district 0 0 0 0 0
National average cost of funds 440 0 0 440 0
OTS contract mortgage rate 0 0 0 0 0
Other method 3741 0 0 3332 408
No index used 161 0 0 0 161
Not reported 5231 0 0 4526 705
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
15085 0 0 11523 3562
Monthly 310 0 0 310 0
Every 3 months 0 0 0 0 0
Every 6 months 0 0 0 0 0
Yearly 1718 0 0 1718 0
Every 3 years 1292 0 0 1292 0
Every 5 years 2911 0 0 2783 128
Other 4093 0 0 1437 2655
Not reported 4761 0 0 3981 779
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
15085 0 0 11523 3562
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 3130 0 0 970 2160
2.1 to 2.9 percent 0 0 0 0 0
3 percent 229 0 0 229 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 311 0 0 311 0
No caps 6649 0 0 6113 536
Not reported 4767 0 0 3900 866
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
15085 0 0 11523 3562
Less than 1 percent 0 0 0 0 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 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 2822 0 0 583 2239
No caps 6205 0 0 5661 544
Not reported 6058 0 0 5279 779
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
15085 0 0 11523 3562
Yes, rate has changed 3762 0 0 3379 383
No change since mortgage made 6644 0 0 4244 2400
Not reported 4680 0 0 3900 779
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
15085 0 0 11523 3562
Less than 1 percent 123 0 0 123 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 586 0 0 507 79
2 percent 217 0 0 217 0
2.1 to 2.9 percent 5470 0 0 3182 2288
3 percent 997 0 0 997 0
3.1 to 3.9 percent 269 0 0 269 0
4 percent 171 0 0 171 0
4.1 to 4.9 percent 229 0 0 229 0
5 percent or more 1125 0 0 1125 0
Not reported 5898 0 0 4703 1195
Median 2.7 0.0 0.0 2.8 2.5
Other properties 49167 41570 7597 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
15085 0 0 11523 3562
Can be converted 528 0 0 528 0
Cannot be converted 9664 0 0 6807 2857
Not reported 4893 0 0 4187 705
Other properties 49167 41570 7597 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
135 0 0 48 87
Payments can change monthly 87 0 0 0 87
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 48 0 0 48 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
58816 41570 7597 6878 2770
Not reported 5301 0 0 4596 705

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
135 0 0 48 87
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 135 0 0 48 87
Not reported 0 0 0 0 0
Monthly payments cannot change 58816 41570 7597 6878 2770
Not reported 5301 0 0 4596 705

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
62317 40202 7407 11145 3562
Interest and principal 62241 40202 7407 11069 3562
Fully amortized 47019 35704 343 7698 3274
Not fully amortized 15222 4498 7065 3371 288
Interest only 76 0 0 76 0
No regular payments required 209 67 98 45 0
Not reported 1726 1301 92 333 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
62241 40202 7407 11069 3562
Real estate taxes 15169 7648 2183 5211 128
Property insurance 5412 3912 20 1480 0
Mortgage insurance 687 687 0 0 0
Other 3321 2613 50 659 0
No items included or not reported 46224 31707 5224 5859 3435
No regular payments of interest
and principal
2011 1368 190 453 0

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
64043 41504 7499 11478 3562
Less than $100 7924 5586 433 1626 278
$100 to $199 19797 12485 1109 3572 2630
$200 to $299 11765 7978 1714 1718 356
$300 to $399 7120 5108 891 883 239
$400 to $499 4465 2297 1069 1040 59
$500 to $599 3337 1617 870 850 0
$600 to $699 1390 1171 0 219 0
$700 to $799 1149 538 390 220 0
$800 to $899 864 403 32 429 0
$900 to $999 419 419 0 0 0
$1,000 to $1,249 138 138 0 0 0
$1,250 to $1,499 1015 1015 0 0 0
$1,500 or more 2934 1447 900 587 0
Not reported 1726 1301 92 333 0
Median 229 225 350 222 157
Mean 541 405 1146 756 148
No regular payments required 209 67 98 45 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
64043 41504 7499 11478 3562
Up-to-date, ahead of schedule, or
less than 90 days past due
29569 15516 3909 7287 2857
Delinquent by 90 days or more 44 0 44 0 0
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 44 0 44 0 0
Not reported 0 0 0 0 0
Not reported 34431 25988 3546 4191 705
Other properties 209 67 98 45 0

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
64043 41504 7499 11478 3562
Less than $100 9166 6403 525 1959 278
$100 to $199 18667 11592 1100 3344 2630
$200 to $299 12115 8319 1722 1718 356
$300 to $399 8011 5828 891 1054 239
$400 to $499 4304 2289 1038 918 59
$500 to $599 3518 1673 901 945 0
$600 to $699 1397 1178 0 219 0
$700 to $799 1234 538 390 306 0
$800 to $899 819 403 32 384 0
$900 to $999 419 419 0 0 0
$1,000 to $1,249 279 234 0 45 0
$1,250 to $1,499 781 781 0 0 0
$1,500 or more 3332 1845 900 587 0
Not reported 0 0 0 0 0
Median 235 233 345 225 157
Mean 541 409 1133 742 178
No regular payments required 209 67 98 45 0

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

Acquired before 2000 and
regular payments of interest
and/or princi
47616 30472 6095 9720 1329
Less than 20 percent 3904 2896 304 506 199
20 to 29 percent 6576 3868 1116 1459 133
30 to 39 percent 7152 4324 671 1962 195
40 to 49 percent 9110 6642 831 1405 233
50 to 59 percent 4737 2200 1072 898 568
60 to 69 percent 2998 2158 637 202 0
70 to 79 percent 1342 1269 73 0 0
80 to 89 percent 2317 978 300 1038 0
90 to 99 percent 1117 869 0 248 0
100 percent or more 8363 5269 1092 2002 0
Not reported or not computed 0 0 0 0 0
Median 47 46 51 47 46
Other properties 16637 11098 1502 1802 2234

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

Acquired before 2000 and regular
payments of interest and/or
principal
47833 30591 6193 9720 1329
Less than 20 percent 3778 2769 304 506 199
20 to 29 percent 5906 3466 1076 1230 133
30 to 39 percent 7242 4383 702 1962 195
40 to 49 percent 9183 6773 831 1347 233
50 to 59 percent 4920 2146 1080 1126 568
60 to 69 percent 3049 2054 735 260 0
70 to 79 percent 1642 1569 73 0 0
80 to 89 percent 2327 1074 300 953 0
90 to 99 percent 1117 869 0 248 0
100 percent or more 8669 5488 1092 2088 0
Not reported or not computed 0 0 0 0 0
Median 48 47 52 49 46
Other properties 16420 10979 1405 1802 2234

Real Estate Tax Per $1,000 Value

Acquired before 2000
49107 31638 6285 9855 1329
Less than $5 6320 3928 1101 1291 0
$5 to $9 3784 2029 978 458 320
$10 to $14 9132 5512 1101 2465 54
$15 to $19 5312 4185 720 407 0
$20 to $24 5910 4119 223 1270 298
$25 to $29 5646 3373 1242 1031 0
$30 to $39 12425 8096 827 2844 657
$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 552 370 92 90 0
Median 20 20 15 21 25
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
49107 31638 6285 9855 1329
Less than 5 percent 4693 3015 637 915 125
5 to 9 percent 12715 7869 1772 2646 428
10 to 14 percent 9640 6455 1362 1127 696
15 to 19 percent 10289 7267 925 2097 0
20 to 24 percent 4089 2252 0 1837 0
25 to 29 percent 2562 1455 793 313 0
30 to 34 percent 1399 1354 0 45 0
35 to 39 percent 501 501 0 0 0
40 percent or more 2668 1101 703 785 79
Not reported or not computed 552 370 92 90 0
Median 14 14 13 15 11
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Property Management

Property managed by paid property
management company
24177 16970 3584 3335 288
Property not managed by paid property
management company
38010 23382 3883 7471 3275
Not reported 2065 1218 130 717 0

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
49107 31638 6285 9855 1329
Less than $100 1899 1113 0 548 239
$100 to $199 1513 809 0 703 0
$200 to $299 1474 954 303 218 0
$300 to $399 3411 2200 167 1044 0
$400 to $499 3341 2097 203 1041 0
$500 to $599 2111 1066 140 905 0
$600 to $699 1022 879 66 78 0
$700 to $799 1393 931 403 0 59
$800 to $899 1102 215 887 0 0
$900 to $999 399 399 0 0 0
$1,000 to $1,249 1894 1317 162 365 49
$1,250 to $1,499 529 362 43 0 125
$1,500 to $1,999 1189 841 255 93 0
$2,000 to $2,499 96 35 61 0 0
$2,500 or more 1074 585 288 201 0
No expenses 18826 12813 2099 3059 856
Not reported or not computed 7835 5024 1210 1601 0
Median 488 487 823 408 99
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
49107 31638 6285 9855 1329
Less than $100 1152 468 152 293 239
$100 to $199 4024 3036 0 659 329
$200 to $299 2969 971 852 1066 79
$300 to $399 2005 1547 0 404 54
$400 to $499 2195 1732 324 139 0
$500 to $599 2880 1810 259 812 0
$600 to $699 2201 996 369 604 233
$700 to $799 3344 1672 93 1579 0
$800 to $899 3447 2379 913 155 0
$900 to $999 1435 1415 20 0 0
$1,000 to $1,249 4040 2927 287 613 212
$1,250 to $1,499 4231 3141 292 725 74
$1,500 to $1,999 1883 1510 42 281 49
$2,000 to $2,499 2015 1332 480 202 0
$2,500 or more 3097 1376 641 1080 0
No expenses 1155 804 292 0 59
Not reported or not computed 7035 4524 1268 1243 0
Median 791 839 834 721 284
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
49107 31638 6285 9855 1329
Less than $250 3913 3268 248 319 79
$250 to $499 6460 2645 1367 2448 0
$500 to $749 7164 4175 1348 1641 0
$750 to $999 6747 3681 762 1544 759
$1,000 to $1,249 5371 4062 90 729 490
$1,250 to $1,499 2617 1980 507 129 0
$1,500 to $1,749 2311 2223 0 88 0
$1,750 to $1,999 1057 822 0 235 0
$2,000 to $2,499 1819 933 319 566 0
$2,500 or more 1658 280 760 619 0
No expenses 3399 3015 0 384 0
Not reported or not computed 6590 4555 883 1152 0
Median 825 882 701 712 943
Acquired 2000 and 2001 (part) 15146 9932 1312 1667 2234

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