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Residential Finance Survey

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Residential Finance Survey: 2001 - Midwest
Table 6-2c. 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
76303 46308 9887 19030 1078

PROPERTY CHARACTERISTICS


Number of Housing Units

5 to 9 housing units
41190 23845 5804 11384 158
10 to 19 housing units 19507 12022 2105 4539 841
20 to 29 housing units 8635 5163 1586 1841 46
30 to 39 housing units 3565 2804 161 600 0
40 to 49 housing units 3406 2475 231 667 34

Manner of Acquisition

By purchase
71815 43153 9173 18410 1078
Placed one new mortgage 58761 35603 7362 14983 814
Placed two or more new mortgages 5883 4267 383 1088 146
Assumed mortgage(s) already on property 2572 1790 235 547 0
Assumed mortgage(s) already on property
and placed new mortgage
282 282 0 0 0
Borrowed using assets other than this
property as collateral
1989 986 834 170 0
Paid all cash-no borrowing 1387 37 178 1053 119
Other manner 939 188 182 569 0
By inheritance or gift 646 210 436 0 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
252 57 0 195 0
By foreclosure or assignment 0 0 0 0 0
By some other manner 821 821 0 0 0
Not reported 2769 2067 277 425 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
38849 23411 5593 9267 578
Sale of stock or other partnership
shares for this project
1966 1929 0 37 0
Sale of previously owned stocks,
shares, or other securities
644 187 365 0 93
Sale of land or other real estate 2826 1239 872 715 0
Owner's cash, bank deposits,
share accounts, or bonds
17043 10451 1536 4724 331
Borrowing from a retirement plan 180 87 0 0 93
Borrowing using assets other than this
property as collateral
5233 2964 1189 940 140
Proceeds from an insurance policy 210 210 0 0 0
From a state or local government source 177 143 0 0 34
From a non-profit organization 0 0 0 0 0
Proceeds from sale of tax credits 1059 1020 39 0 0
From parents or relatives 1727 1325 244 158 0
Other cash source 1257 766 293 199 0
Non-cash source 29 0 0 29 0
No downpayment required 4169 1202 1073 1786 107
Not reported 5166 3490 354 1322 0
Other properties 36091 21816 4135 9639 500
Not reported 1364 1080 159 124 0

Year Property Acquired

1999 to 2001 (part)
19187 11216 3889 3817 265
1997 and 1998 13647 7850 1185 4345 267
1995 and 1996 7607 5655 678 1229 46
1990 to 1994 13883 7752 1194 4937 0
1985 to 1989 8393 4597 989 2570 236
1980 to 1984 5624 3829 342 1307 146
1975 to 1979 4571 3004 1080 486 0
1970 to 1974 2308 1564 419 205 119
1969 or earlier 1083 840 110 133 0

Property New or Previously Owned When
Acquired

Acquired by purchase
71815 43153 9173 18410 1078
New 16575 10719 1648 3662 546
Previously owned 53035 31504 7306 13692 533
As residential property 49523 29280 7227 12629 387
Converted from nonresidential use 3512 2225 79 1063 146
Other 484 158 0 326 0
Not reported 1721 771 220 730 0
Other properties 1719 1088 436 195 0
Not reported 2769 2067 277 425 0

Year Structure Built

1999 to March 2000
2587 2023 36 420 107
1997 and 1998 3705 1790 310 1464 140
1995 and 1996 1958 1073 309 542 34
1990 to 1994 6463 3721 897 1844 0
1980 to 1989 8800 6226 542 1740 292
1970 to 1979 18476 11677 1805 4577 416
1960 to 1969 11357 7447 1755 2065 90
1950 to 1959 4250 3219 36 995 0
1940 to 1949 4081 2357 452 1272 0
1939 or earlier 14627 6773 3744 4110 0

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
31822 18247 5004 8038 532
Less than $20,000 6931 3141 1987 1710 93
$20,000 to $39,999 14539 9372 1504 3398 265
$40,000 to $59,999 5722 2674 946 2069 34
$60,000 to $79,999 1496 920 243 333 0
$80,000 to $99,999 1081 888 0 53 140
$100,000 to $124,999 435 179 0 256 0
$125,000 to $149,999 699 699 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 220 0 0 220 0
$200,000 to $249,999 453 129 324 0 0
$250,000 to $299,999 130 130 0 0 0
$300,000 to $499,999 115 115 0 0 0
$500,000 or more 0 0 0 0 0
Median 32353 32767 26847 33593 33026
Mean 42707 44263 41935 39417 46293
Other properties 44481 28061 4883 10992 546

Value

Less than $100,000
2898 2042 413 444 0
$100,000 to $199,999 12031 6593 1450 3988 0
$200,000 to $299,999 12455 6933 1868 3654 0
$300,000 to $399,999 10599 6261 1931 2010 397
$400,000 to $499,999 6889 4276 259 2202 153
$500,000 to $749,999 8965 5317 979 2523 146
$750,000 to $999,999 7470 4451 1534 1486 0
$1,000,000 to $1,499,999 7644 5519 732 1253 140
$1,500,000 to $1,999,999 1873 1357 0 515 0
$2,000,000 to $2,999,999 2143 1347 104 574 119
$3,000,000 to $3,999,999 1754 1195 252 274 34
$4,000,000 to $4,999,999 108 108 0 0 0
$5,000,000 or more 1474 911 364 109 90
Median 402446 431008 362759 371137 492779
Mean 733538 788425 742904 564369 1275967

Value Per Housing Unit@8

Less than $20,000
8681 6295 697 1644 46
$20,000 to $39,999 34414 19461 4737 9711 505
$40,000 to $59,999 13667 7744 2519 3257 146
$60,000 to $79,999 7237 4752 0 2451 34
$80,000 to $99,999 1762 958 290 375 140
$100,000 to $124,999 2273 1346 0 927 0
$125,000 to $149,999 2530 2006 524 0 0
$150,000 to $174,999 1372 1120 252 0 0
$175,000 to $199,999 1100 118 503 479 0
$200,000 to $249,999 1519 1174 40 186 119
$250,000 to $299,999 827 738 0 0 90
$300,000 to $499,999 58 58 0 0 0
$500,000 or more 862 538 324 0 0
Median 37127 37326 37929 36210 39562
Mean 61278 63954 76083 45606 87155

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
41021 26282 5528 8683 528
Less than $5,000 8491 5455 1473 1563 0
$5,000 to $9,999 8671 5534 664 2380 93
$10,000 to $24,999 11846 6615 2099 2697 434
$25,000 to $49,999 6003 4371 432 1200 0
$50,000 to $74,999 1747 1134 307 305 0
$75,000 to $99,999 836 721 34 81 0
$100,000 to $149,999 1444 966 478 0 0
$150,000 to $199,999 381 346 0 35 0
$200,000 to $299,999 755 525 0 229 0
$300,000 or more 848 615 40 193 0
Median 14241 14880 14484 12218 15886
Mean 334617 506245 30869 27992 13995
Properties with no capital
improvements between 1998 and 2000
20514 10836 2837 6589 253
Capital improvements not
reported
14768 9190 1522 3758 298

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
41021 26282 5528 8683 528
Less than $500 9113 5926 1701 1359 128
$500 to $999 7935 5874 345 1580 135
$1,000 to $2,499 15009 7866 2532 4346 265
$2,500 to $4,999 4269 2866 569 833 0
$5,000 to $7,499 1106 1061 0 45 0
$7,500 to $9,999 1021 878 0 143 0
$10,000 to $14,999 300 300 0 0 0
$15,000 to $19,999 743 743 0 0 0
$20,000 to $29,999 850 284 381 185 0
$30,000 or more 677 484 0 193 0
Median 1346 1256 1425 1484 1005
Mean 40509 61649 2884 2874 1032
Properties with no capital
improvements between 1998 and 2000
20514 10836 2837 6589 253
Capital improvements not
reported
14768 9190 1522 3758 298

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
63378 39032 7226 16200 920
Less than $100 4247 2464 351 1432 0
$100 to $199 6811 4886 382 1543 0
$200 to $299 9076 5011 1309 2617 139
$300 to $399 13498 7512 1988 3729 270
$400 to $499 9994 6320 778 2643 253
$500 to $599 6194 4245 935 1014 0
$600 to $799 4592 2864 236 1492 0
$800 to $999 3820 2315 276 1089 140
$1000 or more 4968 3414 971 464 119
No rental receipts 178 0 0 178 0
Median 385 395 379 365 420
Mean 655 716 598 540 562
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Rental Receipts as Percent of Value@8

Acquired before 2000
63378 39032 7226 16200 920
Less than 5 percent 1726 1286 91 259 90
5 to 9 percent 20896 13586 2336 4821 153
10 to 14 percent 18511 11760 1514 4858 379
15 to 19 percent 13272 6018 2125 4829 299
20 to 24 percent 4295 3081 327 887 0
25 to 29 percent 1463 932 495 35 0
30 to 39 percent 1209 1064 134 11 0
40 percent or more 1710 1302 86 322 0
Median 12 12 14 13 13
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
63378 39032 7226 16200 920
Less than 1.0 percent 9235 5178 1241 2670 146
1.0 to 2.9 percent 7458 4365 959 2133 0
3.0 to 4.9 percent 6078 4345 173 1274 285
5.0 to 6.9 percent 6523 3619 877 1891 135
7.0 to 8.9 percent 3872 3348 172 245 107
9.0 to 10.9 percent 2238 1864 211 162 0
11.0 to 12.9 percent 1991 1293 392 306 0
13.0 to 14.9 percent 1344 831 365 30 119
15.0 percent or more 8485 4245 766 3380 93
Not reported or not computed 16154 9943 2069 4108 34
Median 5.3 5.4 5.5 5.0 5.2
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Age Restrictions

Property restricted to people
age 55 or older
23323 14619 2986 5117 601
Property not restricted to people
age 55 or older
49737 29069 6776 13415 478
Not reported 3243 2620 125 498 0

Age Composition

Over one-half the residents of the
building age 55 or older
5115 2085 558 2437 34
Over one-half the residents of the
building not age 55 or older
42982 25692 6217 10629 444
Not reported 28206 18530 3111 5964 601

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

Property provides meal service
12909 8608 1431 2496 375
Charge included in rent 10009 6478 1191 2148 191
Charge not included in rent 79 79 0 0 0
Not reported 2821 2050 239 348 183
Property does not provide meal
service
8260 5025 419 2663 153
Not reported 55134 32675 8037 13871 551

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
4521 3470 376 674 0
Government rental subsidy 8967 6549 973 1252 192
Government grant 299 77 57 131 34
Property tax relief 1722 1045 116 408 153
Federal income tax credit for
low-income, old or historic properties
1752 1123 522 106 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties
66 27 39 0 0
Subsidy from a non-profit corporation 112 112 0 0 0
None of the above benefits 57126 32840 7777 15742 767
Not reported 5689 3710 848 1131 0

Source of Property Benefits@1

With property benefits
13488 9758 1262 2157 311
Federal government 9344 6729 1193 1387 34
State government 2095 1858 0 79 158
Local government 2698 1741 69 770 119
Non-profit corporation 112 112 0 0 0
Not reported 179 179 0 0 0
With no property benefits 57126 32840 7777 15742 767
Not reported 5689 3710 848 1131 0

Reason for Benefits@1

With property benefits
13488 9758 1262 2157 311
Occupied by low- or moderate-income
individuals
11198 8187 1113 1864 34
Occupied by elderly or disabled
individuals
4633 3534 396 392 311
A historic structure 314 79 40 195 0
Located in a community development or
economic development area
1128 360 39 729 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 40 0 40 0 0
Not reported 1006 1006 0 0 0
With no property benefits 57126 32840 7777 15742 767
Not reported 5689 3710 848 1131 0

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
19682 11945 2677 4733 328
Property has never had tenants
receiving Section 8 assistance
48649 28625 7050 12223 751
Not reported 7972 5738 159 2074 0

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
40886 21885 6734 11594 672
Limited partnership 13934 10472 837 2371 253
Joint venture 1725 1205 276 244 0
General partnership 3976 2793 600 583 0
Life insurance company 0 0 0 0 0
Depository institution 165 165 0 0 0
Public real estate investment trust 127 127 0 0 0
Private real estate investment trust 120 120 0 0 0
Corporation - other than real estate
investment trust
9187 4875 1086 3226 0
Housing cooperative organization 34 34 0 0 0
Non-profit or church-related institution 2659 2006 134 367 153
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 3488 2625 220 644 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
0 0 0 0 0
By telephone or FAX 7684 3629 1837 1967 252
By regular mail 4955 3042 1031 882 0
By personal visit 49322 28857 5680 14077 708
Through third party (such as real
estate agent or builder)
4984 3908 471 605 0
Some other way 1895 1031 199 547 119
Not reported 6560 5093 514 953 0
Not available 902 748 154 0 0

Origin of First Mortgage

Mortgage made at time property acquired
57274 36858 6576 13081 759
Mortgage assumed at the time property
acquired
2744 2110 154 480 0
Mortgage placed later than acquisition of
property
16286 7340 3157 5469 320
Refinanced mortgage 14947 7175 2522 4931 320
Same lender 4498 2242 909 1121 226
Different lender 10449 4933 1613 3809 93
Mortgage placed on property
owned free and clear of debt
1339 166 635 538 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
16286 7340 3157 5469 320
Obtain lower interest rate 7681 5452 993 1118 119
Increase payment period for mortgage 84 84 0 0 0
Reduce payment period for mortgage 834 0 834 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
1395 441 0 847 107
Receive cash or increase outstanding
balance of loan
3026 1171 949 812 93
Other reason 1929 147 381 1401 0
Not reported 1337 45 0 1292 0
Other properties 60017 38968 6730 13561 759
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
4772 1989 1474 1216 93
Less than $100,000 2381 1227 806 347 0
$100,000 to $199,999 728 78 325 231 93
$200,000 to $299,999 253 112 66 75 0
$300,000 to $399,999 276 0 276 0 0
$400,000 to $499,999 886 393 0 492 0
$500,000 to $749,999 0 0 0 0 0
$750,000 to $999,999 0 0 0 0 0
$1,000,000 to $1,499,999 71 0 0 71 0
$1,500,000 to $1,999,999 0 0 0 0 0
$2,000,000 to $2,999,999 0 0 0 0 0
$3,000,000 to $3,999,999 0 0 0 0 0
$4,000,000 to $4,999,999 0 0 0 0 0
$5,000,000 or more 179 179 0 0 0
Not reported 0 0 0 0 0
Median 100702 81028 91389 239792 150000
Mean 357069 571168 130152 299940 123000
Properties that refinanced
and did not receive cash back
9200 4796 1683 2614 107
Properties that refinanced
and did not report if received
cash back
2313 555 0 1639 119
Properties that did not
refinance
60017 38968 6730 13561 759
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
4772 1989 1474 1216 93
For additions, improvements or repairs
to this property
2447 928 1132 388 0
To consolidate debts 1487 754 504 136 93
For investment in other real estate 1368 703 504 68 93
For other types of investments 232 0 0 139 93
For educational or medical expenses 396 168 228 0 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 34 0 0 34 0
To purchase an automobile, truck, or
other vehicle
0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0
Other 647 45 66 536 0
Not reported 189 28 0 161 0
Properties that refinanced
and did not receive cash back
9200 4796 1683 2614 107
Properties that refinanced
and did not report if received
cash back
2313 555 0 1639 119
Properties that did not
refinance
60017 38968 6730 13561 759
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
31669 15873 5764 9673 359
1997 and 1998 14474 10171 1517 2493 293
1995 and 1996 6783 4751 303 1594 135
1990 to 1994 11803 7241 1239 3322 0
1985 to 1989 4043 2170 401 1326 146
1980 to 1984 2678 2129 0 404 146
1979 or earlier 4853 3973 663 217 0

First Mortgage Insurance Status

FHA-insured first mortgage
6000 5131 60 809 0
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
5108 5051 57 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
2739 1862 344 534 0
Insured conventional first mortgage 6997 4924 684 1232 158
Uninsured conventional first mortgage 55459 29340 8743 16456 920
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $50,000
2794 2112 413 269 0
$50,000 to $99,999 9065 4374 1404 3287 0
$100,000 to $149,999 9752 5825 1650 2074 204
$150,000 to $199,999 9923 6643 1055 1989 236
$200,000 to $249,999 5076 2832 692 1458 93
$250,000 to $299,999 5401 2989 358 2055 0
$300,000 to $399,999 5594 1912 1805 1624 253
$400,000 to $499,999 6610 4285 1272 1053 0
$500,000 to $749,999 8195 5916 139 2140 0
$750,000 to $999,999 4171 3160 379 632 0
$1,000,000 to $1,499,999 3740 1964 0 1517 259
$1,500,000 to $1,999,999 1497 817 309 372 0
$2,000,000 or more 1676 1056 87 499 34
Not reported 2808 2423 324 62 0
Median 243972 245539 207612 255385 302528
Mean 426598 435689 334978 445799 531348

Total Mortgage Loan

Less than $50,000
2794 2112 413 269 0
$50,000 to $99,999 7171 3351 968 2852 0
$100,000 to $149,999 10424 6288 1859 2074 204
$150,000 to $199,999 9480 6500 1002 1742 236
$200,000 to $249,999 5146 2716 692 1645 93
$250,000 to $299,999 4852 2777 358 1717 0
$300,000 to $399,999 5883 2010 1969 1650 253
$400,000 to $499,999 7308 4725 1214 1369 0
$500,000 to $749,999 8218 5807 139 2273 0
$750,000 to $999,999 4552 3571 379 602 0
$1,000,000 to $1,499,999 3947 2043 174 1472 259
$1,500,000 to $1,999,999 1619 863 309 447 0
$2,000,000 or more 2101 1122 87 858 34
Not reported 2808 2423 324 62 0
Median 259514 259800 227830 269785 302528
Mean 477856 451961 360737 593772 531348

Traditional First Mortgage Outstanding
Debt

Less than $50,000
7054 4645 1498 911 0
$50,000 to $99,999 10665 6322 762 3492 90
$100,000 to $149,999 10403 5840 1565 2648 350
$150,000 to $199,999 7217 3748 749 2720 0
$200,000 to $249,999 6361 4645 678 945 93
$250,000 to $299,999 3924 1454 900 1424 146
$300,000 to $399,999 6506 3597 1610 1192 107
$400,000 to $499,999 6771 4212 815 1743 0
$500,000 to $749,999 5868 4125 599 1144 0
$750,000 to $999,999 2976 2012 244 580 140
$1,000,000 to $1,499,999 3340 1746 0 1475 119
$1,500,000 to $1,999,999 1303 715 57 531 0
$2,000,000 or more 1109 825 87 163 34
Not reported 2808 2423 324 62 0
Median 205957 211088 213321 189841 252193
Mean 366972 372275 279835 393726 453311

Total Mortgage Outstanding Debt

Less than $50,000
6461 4488 1062 911 0
$50,000 to $99,999 9877 5534 1197 3056 90
$100,000 to $149,999 10443 6272 1338 2483 350
$150,000 to $199,999 6597 3055 937 2605 0
$200,000 to $249,999 6774 4956 601 1124 93
$250,000 to $299,999 3928 1454 900 1428 146
$300,000 to $399,999 6612 3703 1610 1192 107
$400,000 to $499,999 7340 4667 757 1916 0
$500,000 to $749,999 5794 4052 599 1144 0
$750,000 to $999,999 3334 2265 379 550 140
$1,000,000 to $1,499,999 3536 1873 39 1505 119
$1,500,000 to $1,999,999 1364 776 57 531 0
$2,000,000 or more 1520 878 87 521 34
Not reported 2722 2336 324 62 0
Median 220153 222684 218251 207244 252193
Mean 399418 373306 286625 518503 453311

Current Interest Rate on First Mortgage

Less than 6.0 percent
27093 17813 3325 5352 603
6.0 percent 47 0 47 0 0
6.1 to 6.4 percent 653 520 0 134 0
6.5 to 6.9 percent 2370 726 503 1051 90
7.0 percent 5342 3192 941 1070 140
7.1 to 7.4 percent 5078 1608 1272 2198 0
7.5 to 7.9 percent 7022 1668 1457 3897 0
8.0 percent 3690 1870 753 1067 0
8.1 to 8.4 percent 2709 1085 958 666 0
8.5 to 8.9 percent 5594 3633 294 1421 246
9.0 percent 2313 2208 0 104 0
9.1 to 9.4 percent 692 317 277 99 0
9.5 to 9.9 percent 906 645 0 261 0
10.0 percent 536 536 0 0 0
10.1 to 10.4 percent 859 781 0 78 0
10.5 to 10.9 percent 751 751 0 0 0
11.0 percent 200 200 0 0 0
11.1 to 12.9 percent 645 525 0 121 0
13.0 percent 230 230 0 0 0
13.1 percent or more 9571 8001 60 1511 0
Not reported 0 0 0 0 0
Median 7.3 7.3 7.1 7.4 5.4

Type of Interest Rate Buydown

Properties with interest rate
buydown
47 0 47 0 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 47 0 47 0 0
Properties without interest
rate buydown
35596 17264 6354 11383 595
Not reported 40660 29044 3486 7646 484

Term of First Mortgage

Less than 5 years
3221 1033 1854 227 107
5 years 2670 567 1595 275 233
6 to 9 years 1687 329 1296 62 0
10 years 3830 1435 1012 1294 90
11 to 14 years 682 72 0 610 0
15 years 3668 1705 153 1809 0
16 to 19 years 1162 419 494 249 0
20 years 4792 1656 312 2824 0
21 to 24 years 515 118 0 397 0
25 years 1920 399 0 1521 0
26 to 29 years 717 717 0 0 0
30 years 11253 7908 60 3167 119
More than 30 years 4464 4464 0 0 0
No stated term 35722 25485 3111 6596 529
Median 21 30 6 21 6

Unexpired Term of First Mortgage

Less than 5 years
6159 2225 3182 505 247
5 to 9 years 7162 2881 2605 1493 183
10 to 14 years 5046 1626 834 2586 0
15 to 19 years 5923 1764 57 4101 0
20 to 24 years 6647 3927 97 2623 0
25 to 29 years 5287 4533 0 636 119
30 or more years 4356 3866 0 490 0
No stated term or not computed 35722 25485 3111 6596 529
Median 17 22 5 17 6

Holder of First Mortgage

Commercial bank or trust company
23758 11850 5294 6184 430
Savings and loan association, federal
savings bank
9282 3399 1413 4312 158
Mutual savings bank 1801 889 372 541 0
Life insurance company 1587 1244 178 165 0
Mortgage banker or mortgage company 1756 909 0 846 0
Federally-sponsored secondary market
agency or pool
21734 16307 1392 3743 292
Conventional mortgage pool 491 109 381 0 0
Other federal agency 5183 4726 74 383 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 28 28 0 0 0
Credit union 2860 1215 188 1456 0
Finance company 417 93 188 136 0
State or municipal government or
housing finance agency
2609 2373 236 0 0
Individual or individual's estate 2645 2251 96 133 165
Other 2153 913 76 1130 34

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
56391 36114 6452 13065 759
Less than 40 percent 2498 1836 382 190 90
40 to 49 percent 688 403 0 81 204
50 to 59 percent 2408 1850 275 284 0
60 to 69 percent 6700 5401 621 678 0
70 to 79 percent 5288 2027 1174 2088 0
80 to 89 percent 10503 5346 1132 3595 431
90 to 94 percent 2090 1486 605 0 0
95 to 99 percent 4033 1655 422 1956 0
100 percent or more 19358 13722 1518 4084 34
Not reported 2823 2389 324 110 0
Median 89 90 85 89 82
Other properties 19912 10194 3434 5965 320
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
56391 36114 6452 13065 759
Less than 40 percent 2405 1852 331 177 46
40 to 49 percent 1121 167 503 203 248
50 to 59 percent 1699 1066 57 575 0
60 to 69 percent 15155 11004 2388 1763 0
70 to 79 percent 6967 2596 1749 2622 0
80 to 89 percent 10651 6206 824 3329 292
90 to 94 percent 1628 1225 57 346 0
95 to 99 percent 3393 1793 0 1600 0
100 percent or more 10695 7915 219 2387 174
Not reported 2676 2291 324 62 0
Median 79 80 69 83 83
Other properties 19912 10194 3434 5965 320
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
2539 2054 203 281 0
Not subprime loan 73764 44253 9683 18749 1078
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
20108 0 0 19030 1078
Treasury security 6102 0 0 5873 229
Average cost of funds in bank district 1225 0 0 1225 0
National average cost of funds 475 0 0 475 0
OTS contract mortgage rate 0 0 0 0 0
Other method 2990 0 0 2990 0
No index used 365 0 0 0 365
Not reported 8951 0 0 8467 484
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
20108 0 0 19030 1078
Monthly 1499 0 0 1499 0
Every 3 months 0 0 0 0 0
Every 6 months 548 0 0 548 0
Yearly 4829 0 0 4600 229
Every 3 years 2172 0 0 2172 0
Every 5 years 1552 0 0 1552 0
Other 1904 0 0 1797 107
Not reported 7604 0 0 6862 742
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
20108 0 0 19030 1078
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 46 0 0 46 0
2 percent 3401 0 0 3262 140
2.1 to 2.9 percent 163 0 0 163 0
3 percent 1142 0 0 1142 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 647 0 0 647 0
No caps 5418 0 0 5175 243
Not reported 9291 0 0 8595 696
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
20108 0 0 19030 1078
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 204 0 0 204 0
4.0 percent or more 5245 0 0 5105 140
No caps 5543 0 0 5300 243
Not reported 9117 0 0 8421 696
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
20108 0 0 19030 1078
Yes, rate has changed 6182 0 0 5952 229
No change since mortgage made 5889 0 0 5736 153
Not reported 8038 0 0 7342 696
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
20108 0 0 19030 1078
Less than 1 percent 690 0 0 583 107
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 736 0 0 736 0
2.1 to 2.9 percent 2250 0 0 2110 140
3 percent 2380 0 0 2290 90
3.1 to 3.9 percent 2465 0 0 2465 0
4 percent 1617 0 0 1617 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 1055 0 0 1055 0
Not reported 8916 0 0 8174 742
Median 3.1 0.0 0.0 3.1 2.5
Other properties 56195 46308 9887 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
20108 0 0 19030 1078
Can be converted 0 0 0 0 0
Cannot be converted 11972 0 0 11589 382
Not reported 8137 0 0 7441 696
Other properties 56195 46308 9887 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
149 0 0 42 107
Payments can change monthly 0 0 0 0 0
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 0 0 0 0 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 149 0 0 42 107
Not reported 0 0 0 0 0
Monthly payments cannot
change
68160 46308 9887 11691 275
Not reported 7993 0 0 7297 696

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
149 0 0 42 107
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 149 0 0 42 107
Not reported 0 0 0 0 0
Monthly payments cannot change 68160 46308 9887 11691 275
Not reported 7993 0 0 7297 696

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
71417 43174 9506 17964 773
Interest and principal 70981 42738 9506 17964 773
Fully amortized 53561 35545 401 16937 679
Not fully amortized 17420 7194 9105 1027 93
Interest only 435 435 0 0 0
No regular payments required 1242 104 0 866 272
Not reported 3645 3030 381 199 34

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
70981 42738 9506 17964 773
Real estate taxes 10906 6003 1458 3445 0
Property insurance 6072 3579 738 1754 0
Mortgage insurance 1117 1117 0 0 0
Other 2530 2214 99 217 0
No items included or not reported 60016 36677 8048 14519 773
No regular payments of interest
and principal
5322 3569 381 1066 306

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
75061 46204 9887 18164 807
Less than $100 13263 9923 1476 1774 90
$100 to $199 23100 10927 4108 7826 239
$200 to $299 12340 8338 1068 2776 158
$300 to $399 6637 3974 943 1574 146
$400 to $499 3184 1183 915 947 140
$500 to $599 3360 2727 392 241 0
$600 to $699 2034 1401 0 633 0
$700 to $799 1306 1306 0 0 0
$800 to $899 556 556 0 0 0
$900 to $999 234 162 0 72 0
$1,000 to $1,249 1192 307 277 608 0
$1,250 to $1,499 1437 386 0 1050 0
$1,500 or more 2775 1984 327 464 0
Not reported 3645 3030 381 199 34
Median 197 209 180 192 236
Mean 585 713 317 433 245
No regular payments required 1242 104 0 866 272

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
75061 46204 9887 18164 807
Up-to-date, ahead of schedule, or
less than 90 days past due
35549 17549 6412 11265 323
Delinquent by 90 days or more 0 0 0 0 0
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 39513 28655 3475 6899 484
Other properties 1242 104 0 866 272

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
75061 46204 9887 18164 807
Less than $100 16285 12900 1421 1841 124
$100 to $199 21555 10413 3790 7113 239
$200 to $299 13117 8282 1822 2854 158
$300 to $399 7785 4489 943 2208 146
$400 to $499 3067 1292 915 721 140
$500 to $599 3301 2669 392 241 0
$600 to $699 1859 1226 0 633 0
$700 to $799 1540 1540 0 0 0
$800 to $899 556 556 0 0 0
$900 to $999 234 162 0 72 0
$1,000 to $1,249 1192 307 277 608 0
$1,250 to $1,499 1437 386 0 1050 0
$1,500 or more 3134 1984 327 823 0
Not reported 0 0 0 0 0
Median 199 198 193 204 225
Mean 604 671 315 610 235
No regular payments required 1242 104 0 866 272

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

Acquired before 2000 and
regular payments of interest
and/or princi
59455 36861 6845 15135 614
Less than 20 percent 5082 3856 909 316 0
20 to 29 percent 5397 3439 447 1421 90
30 to 39 percent 6214 4460 491 1263 0
40 to 49 percent 9492 4559 2034 2612 285
50 to 59 percent 7918 4821 571 2434 93
60 to 69 percent 4635 3292 706 638 0
70 to 79 percent 3947 3247 0 701 0
80 to 89 percent 2221 1938 0 283 0
90 to 99 percent 1178 410 317 306 146
100 percent or more 13073 6838 1252 4983 0
Not reported or not computed 296 0 118 178 0
Median 54 54 47 58 48
Other properties 16848 9447 3042 3895 464

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

Acquired before 2000 and regular
payments of interest and/or
principal
59455 36861 6845 15135 614
Less than 20 percent 4594 3849 473 272 0
20 to 29 percent 4705 3349 370 896 90
30 to 39 percent 5833 4080 491 1263 0
40 to 49 percent 10319 4726 2547 2761 285
50 to 59 percent 7688 4979 571 2045 93
60 to 69 percent 4923 3292 706 925 0
70 to 79 percent 3919 3188 0 730 0
80 to 89 percent 2267 1984 0 283 0
90 to 99 percent 936 409 76 306 146
100 percent or more 13974 7006 1493 5475 0
Not reported or not computed 296 0 118 178 0
Median 55 55 48 63 48
Other properties 16848 9447 3042 3895 464

Real Estate Tax Per $1,000 Value

Acquired before 2000
63378 39032 7226 16200 920
Less than $5 11677 7613 1128 2693 243
$5 to $9 8392 4724 772 2896 0
$10 to $14 11717 7963 1017 2597 140
$15 to $19 8773 5007 930 2729 107
$20 to $24 11662 6754 2009 2607 292
$25 to $29 3531 2375 264 846 46
$30 to $39 6635 3605 1104 1832 93
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 0 0 0 0 0
Not reported or not computed 990 990 0 0 0
Median 15 14 19 15 19
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
63378 39032 7226 16200 920
Less than 5 percent 8087 5187 543 2204 153
5 to 9 percent 17623 10976 2105 4542 0
10 to 14 percent 14553 8705 2315 3093 438
15 to 19 percent 11488 6969 1197 3232 90
20 to 24 percent 3782 2318 47 1178 239
25 to 29 percent 1889 974 324 591 0
30 to 34 percent 1592 1291 0 301 0
35 to 39 percent 248 248 0 0 0
40 percent or more 2830 1372 575 883 0
Not reported or not computed 1287 990 118 178 0
Median 12 12 12 12 14
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Property Management

Property managed by paid property
management company
29903 18384 2680 8502 337
Property not managed by paid property
management company
40101 23681 7081 8743 596
Not reported 6299 4243 125 1785 146

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
63378 39032 7226 16200 920
Less than $100 1313 958 0 355 0
$100 to $199 2251 781 357 1113 0
$200 to $299 4564 1935 283 2346 0
$300 to $399 4455 2779 297 1125 253
$400 to $499 2085 1131 453 502 0
$500 to $599 1962 1806 40 117 0
$600 to $699 1590 1317 237 35 0
$700 to $799 1241 1100 0 142 0
$800 to $899 523 523 0 0 0
$900 to $999 649 472 26 150 0
$1,000 to $1,249 814 255 173 387 0
$1,250 to $1,499 841 510 145 186 0
$1,500 to $1,999 967 686 40 207 34
$2,000 to $2,499 332 37 295 0 0
$2,500 or more 1915 1660 60 195 0
No expenses 26369 15839 4194 5843 494
Not reported or not computed 11507 7243 626 3497 140
Median 408 522 459 284 357
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
63378 39032 7226 16200 920
Less than $100 1698 1157 76 466 0
$100 to $199 4656 1866 1321 1361 107
$200 to $299 4955 3000 320 1489 146
$300 to $399 5206 3900 34 1179 93
$400 to $499 3583 2357 178 1048 0
$500 to $599 3623 2470 647 506 0
$600 to $699 2233 1149 57 1027 0
$700 to $799 2001 1087 266 502 146
$800 to $899 2770 1412 447 741 170
$900 to $999 1516 1082 188 246 0
$1,000 to $1,249 3932 2440 849 644 0
$1,250 to $1,499 2713 1962 150 601 0
$1,500 to $1,999 2936 1644 738 554 0
$2,000 to $2,499 1001 608 97 295 0
$2,500 or more 4344 3550 248 545 0
No expenses 1955 1560 341 54 0
Not reported or not computed 14257 7788 1268 4942 259
Median 596 608 766 512 383
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
63378 39032 7226 16200 920
Less than $250 8639 4592 515 3279 253
$250 to $499 13677 9108 1585 2938 46
$500 to $749 10489 6516 1295 2408 270
$750 to $999 6338 4184 980 1082 93
$1,000 to $1,249 3306 1863 910 533 0
$1,250 to $1,499 1210 608 285 316 0
$1,500 to $1,749 267 231 36 0 0
$1,750 to $1,999 1042 783 248 11 0
$2,000 to $2,499 392 392 0 0 0
$2,500 or more 1678 967 384 328 0
No expenses 2985 1112 0 1754 119
Not reported or not computed 13354 8675 987 3552 140
Median 529 535 697 435 530
Acquired 2000 and 2001 (part) 12925 7276 2661 2830 158

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