U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - South
Table 6-2d. 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
50731 36962 4013 8650 1107

PROPERTY CHARACTERISTICS


Number of Housing Units

5 to 9 housing units
24806 17305 2524 4699 278
10 to 19 housing units 11433 8351 619 1987 476
20 to 29 housing units 6911 5462 348 951 150
30 to 39 housing units 4328 3248 309 603 168
40 to 49 housing units 3253 2596 212 411 35

Manner of Acquisition

By purchase
44398 32189 2966 8470 773
Placed one new mortgage 36587 26749 2699 6452 688
Placed two or more new mortgages 3356 1718 166 1387 86
Assumed mortgage(s) already on property 2280 1600 102 578 0
Assumed mortgage(s) already on property
and placed new mortgage
885 831 0 54 0
Borrowed using assets other than this
property as collateral
208 208 0 0 0
Paid all cash-no borrowing 566 566 0 0 0
Other manner 517 517 0 0 0
By inheritance or gift 572 297 275 0 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
378 113 235 30 0
By foreclosure or assignment 946 648 0 0 298
By some other manner 431 390 0 6 35
Not reported 4006 3325 536 144 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
21227 13357 2168 5586 117
Sale of stock or other partnership
shares for this project
505 505 0 0 0
Sale of previously owned stocks,
shares, or other securities
1706 1123 240 343 0
Sale of land or other real estate 1710 1253 200 222 35
Owner's cash, bank deposits,
share accounts, or bonds
8868 5742 785 2340 0
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
1777 1463 88 226 0
Proceeds from an insurance policy 0 0 0 0 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 64 0 0 64 0
Proceeds from sale of tax credits 111 89 0 22 0
From parents or relatives 649 490 0 159 0
Other cash source 1029 220 0 727 82
Non-cash source 371 160 211 0 0
No downpayment required 3801 1818 644 1338 0
Not reported 2717 2102 0 614 0
Other properties 27017 21350 1613 3064 990
Not reported 2487 2255 232 0 0

Year Property Acquired

1999 to 2001 (part)
12623 8983 884 2756 0
1997 and 1998 6528 4289 950 1173 117
1995 and 1996 5434 3140 566 1693 35
1990 to 1994 10345 8041 185 1475 645
1985 to 1989 7405 5583 845 976 0
1980 to 1984 4672 3803 517 266 86
1975 to 1979 2086 1615 54 192 225
1970 to 1974 1333 1267 12 54 0
1969 or earlier 306 241 0 66 0

Property New or Previously Owned When
Acquired

Acquired by purchase
44398 32189 2966 8470 773
New 13647 9598 758 2945 346
Previously owned 29776 21672 2151 5526 427
As residential property 27699 20700 2115 4458 427
Converted from nonresidential use 2077 973 36 1068 0
Other 50 50 0 0 0
Not reported 924 868 56 0 0
Other properties 2327 1447 510 36 334
Not reported 4006 3325 536 144 0

Year Structure Built

1999 to March 2000
2382 1064 258 1059 0
1997 and 1998 1325 908 387 30 0
1995 and 1996 2139 786 211 1142 0
1990 to 1994 4221 2688 188 747 598
1980 to 1989 12313 9487 1198 1628 0
1970 to 1979 9670 7753 441 1308 167
1960 to 1969 7811 5718 495 1326 272
1950 to 1959 4566 3530 0 966 70
1940 to 1949 2161 1881 0 281 0
1939 or earlier 4142 3146 833 164 0

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
16029 10412 1602 3899 117
Less than $20,000 4128 2909 234 986 0
$20,000 to $39,999 5798 3155 822 1705 117
$40,000 to $59,999 2923 1617 546 760 0
$60,000 to $79,999 1222 1112 0 110 0
$80,000 to $99,999 636 636 0 0 0
$100,000 to $124,999 335 335 0 0 0
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 310 310 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 677 338 0 338 0
Median 33407 34565 33796 31309 30000
Mean 67263 58907 30653 105554 36001
Other properties 34701 26550 2411 4751 990

Value

Less than $100,000
4614 4038 0 324 251
$100,000 to $199,999 7010 4352 892 1766 0
$200,000 to $299,999 8460 4097 1387 2426 550
$300,000 to $399,999 5273 4537 45 692 0
$400,000 to $499,999 4815 3988 325 467 35
$500,000 to $749,999 6715 5115 663 938 0
$750,000 to $999,999 4227 3025 251 951 0
$1,000,000 to $1,499,999 3440 2577 280 463 121
$1,500,000 to $1,999,999 3444 3059 133 170 82
$2,000,000 to $2,999,999 1665 1495 38 63 69
$3,000,000 to $3,999,999 22 22 0 0 0
$4,000,000 to $4,999,999 161 110 0 51 0
$5,000,000 or more 885 547 0 338 0
Median 400190 436533 280386 292110 254966
Mean 702293 705754 440738 835492 493953

Value Per Housing Unit@8

Less than $20,000
11024 8531 517 1643 334
$20,000 to $39,999 18826 13374 1753 3075 623
$40,000 to $59,999 11412 7457 1274 2681 0
$60,000 to $79,999 2235 1596 193 295 150
$80,000 to $99,999 1611 1559 0 51 0
$100,000 to $124,999 1823 982 275 566 0
$125,000 to $149,999 460 460 0 0 0
$150,000 to $174,999 928 928 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 325 325 0 0 0
$250,000 to $299,999 515 515 0 0 0
$300,000 to $499,999 896 896 0 0 0
$500,000 or more 677 338 0 338 0
Median 35236 34880 36985 37444 27054
Mean 56969 56174 39245 72557 25927

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
22995 17351 1106 4050 488
Less than $5,000 6075 3734 355 1735 251
$5,000 to $9,999 4126 3699 65 362 0
$10,000 to $24,999 5612 3957 168 1440 47
$25,000 to $49,999 3119 2421 381 248 69
$50,000 to $74,999 1224 1189 0 0 35
$75,000 to $99,999 523 396 41 0 86
$100,000 to $149,999 1197 1146 0 50 0
$150,000 to $199,999 197 33 0 164 0
$200,000 to $299,999 110 41 63 6 0
$300,000 or more 813 734 33 45 0
Median 13465 14709 21908 9007 4852
Mean 44406 44546 117360 26478 22819
Properties with no capital
improvements between 1998 and 2000
15585 10080 2039 2929 538
Capital improvements not
reported
12151 9531 868 1671 82

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
22995 17351 1106 4050 488
Less than $500 7364 5154 65 1847 298
$500 to $999 3819 2627 422 701 69
$1,000 to $2,499 6512 5777 41 573 121
$2,500 to $4,999 1928 725 483 720 0
$5,000 to $7,499 1297 1297 0 0 0
$7,500 to $9,999 653 590 63 0 0
$10,000 to $14,999 367 204 0 164 0
$15,000 to $19,999 45 0 0 45 0
$20,000 to $29,999 608 608 0 0 0
$30,000 or more 402 369 33 0 0
Median 1073 1232 2632 627 408
Mean 3328 3703 4418 1737 720
Properties with no capital
improvements between 1998 and 2000
15585 10080 2039 2929 538
Capital improvements not
reported
12151 9531 868 1671 82

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
45050 32888 3570 7485 1107
Less than $100 6631 5068 268 784 511
$100 to $199 6001 4652 350 998 0
$200 to $299 7552 5849 895 761 47
$300 to $399 7024 5575 361 643 445
$400 to $499 6012 3629 423 1925 35
$500 to $599 3406 1029 800 1508 69
$600 to $799 1767 1497 33 237 0
$800 to $999 1093 818 275 0 0
$1000 or more 5277 4484 164 628 0
No rental receipts 287 287 0 0 0
Median 331 313 375 429 290
Mean 2353 3002 480 713 228
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Rental Receipts as Percent of Value@8

Acquired before 2000
45050 32888 3570 7485 1107
Less than 5 percent 833 533 36 264 0
5 to 9 percent 18514 13722 1395 2736 661
10 to 14 percent 10333 8146 602 1500 86
15 to 19 percent 6903 4408 835 1383 278
20 to 24 percent 3334 2464 471 365 35
25 to 29 percent 641 292 54 296 0
30 to 39 percent 960 493 13 407 47
40 percent or more 3243 2544 164 534 0
Median 11 11 13 12 9
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
45050 32888 3570 7485 1107
Less than 1.0 percent 4840 3044 520 1276 0
1.0 to 2.9 percent 6258 4409 595 1255 0
3.0 to 4.9 percent 2756 2286 0 281 189
5.0 to 6.9 percent 1662 1092 355 216 0
7.0 to 8.9 percent 2125 1266 53 528 278
9.0 to 10.9 percent 4452 3060 688 704 0
11.0 to 12.9 percent 1282 887 235 159 0
13.0 to 14.9 percent 1070 581 269 220 0
15.0 percent or more 7010 5770 221 720 298
Not reported or not computed 13595 10492 635 2126 341
Median 7.2 7.6 7.0 4.1 8.4
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Age Restrictions

Property restricted to people
age 55 or older
8490 6238 804 1413 35
Property not restricted to people
age 55 or older
37693 27417 2616 6589 1072
Not reported 4547 3307 593 648 0

Age Composition

Over one-half the residents of the
building age 55 or older
3282 2949 267 66 0
Over one-half the residents of the
building not age 55 or older
34429 24556 2348 6453 1072
Not reported 13020 9457 1397 2131 35

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

Property provides meal service
4530 2478 791 1226 35
Charge included in rent 3478 1668 726 1048 35
Charge not included in rent 0 0 0 0 0
Not reported 1052 810 65 177 0
Property does not provide meal
service
3804 3168 267 369 0
Not reported 42397 31316 2954 7055 1072

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
2619 2503 77 39 0
Government rental subsidy 6496 5245 176 972 104
Government grant 98 98 0 0 0
Property tax relief 252 54 100 63 35
Federal income tax credit for
low-income, old or historic properties
1928 1684 38 138 69
Accelerated federal income tax
depreciation for low- and
moderate-income properties
693 693 0 0 0
Subsidy from a non-profit corporation 222 216 0 6 0
None of the above benefits 32523 22619 2690 6293 921
Not reported 9061 6742 1032 1240 47

Source of Property Benefits@1

With property benefits
9146 7601 290 1116 139
Federal government 7691 6433 227 927 104
State government 542 507 0 0 35
Local government 1444 1098 163 184 0
Non-profit corporation 222 216 0 6 0
Not reported 227 227 0 0 0
With no property benefits 32523 22619 2690 6293 921
Not reported 9061 6742 1032 1240 47

Reason for Benefits@1

With property benefits
9146 7601 290 1116 139
Occupied by low- or moderate-income
individuals
8440 6993 227 1116 104
Occupied by elderly or disabled
individuals
2499 1923 188 388 0
A historic structure 430 430 0 0 0
Located in a community development or
economic development area
89 89 0 0 0
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 54 54 0 0 0
Other reason 0 0 0 0 0
Not reported 69 69 0 0 0
With no property benefits 32523 22619 2690 6293 921
Not reported 9061 6742 1032 1240 47

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
17104 13151 1044 2581 328
Property has never had tenants
receiving Section 8 assistance
25973 18144 2433 4653 743
Not reported 7654 5666 536 1416 35

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
25358 16581 2319 6051 407
Limited partnership 12600 10603 417 1288 293
Joint venture 255 164 58 33 0
General partnership 2455 2102 0 268 86
Life insurance company 144 0 0 144 0
Depository institution 0 0 0 0 0
Public real estate investment trust 226 226 0 0 0
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
6305 4820 1055 395 35
Housing cooperative organization 351 64 0 0 286
Non-profit or church-related institution 691 453 113 125 0
Pension fund 0 0 0 0 0
Fraternal organization 8 0 0 8 0
Other 2338 1948 51 338 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
176 176 0 0 0
By telephone or FAX 3642 2945 277 420 0
By regular mail 3469 2553 0 880 35
By personal visit 30796 20093 3492 6268 943
Through third party (such as real
estate agent or builder)
5920 5091 165 582 82
Some other way 1085 801 0 284 0
Not reported 4742 4468 33 194 47
Not available 903 836 46 22 0

Origin of First Mortgage

Mortgage made at time property acquired
38623 26999 3321 7329 974
Mortgage assumed at the time property
acquired
2920 2157 337 426 0
Mortgage placed later than acquisition of
property
9188 7806 355 895 133
Refinanced mortgage 8889 7614 355 787 133
Same lender 3671 3325 0 299 47
Different lender 5218 4289 355 488 86
Mortgage placed on property
owned free and clear of debt
300 192 0 107 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
9188 7806 355 895 133
Obtain lower interest rate 4864 4442 355 67 0
Increase payment period for mortgage 2 2 0 0 0
Reduce payment period for mortgage 52 52 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
965 586 0 379 0
Receive cash or increase outstanding
balance of loan
610 435 0 42 133
Other reason 814 691 0 123 0
Not reported 1881 1597 0 284 0
Other properties 41542 29155 3658 7755 974
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
4002 3350 355 165 133
Less than $100,000 2483 2023 355 57 47
$100,000 to $199,999 510 444 0 66 0
$200,000 to $299,999 434 306 0 42 86
$300,000 to $399,999 227 227 0 0 0
$400,000 to $499,999 0 0 0 0 0
$500,000 to $749,999 134 134 0 0 0
$750,000 to $999,999 0 0 0 0 0
$1,000,000 to $1,499,999 68 68 0 0 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 147 147 0 0 0
Not reported 0 0 0 0 0
Median 80601 82780 50000 138194 222416
Mean 554529 648618 9300 126932 168227
Properties that refinanced
and did not receive cash back
4303 3857 0 446 0
Properties that refinanced
and did not report if received
cash back
883 599 0 284 0
Properties that did not
refinance
41542 29155 3658 7755 974
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
4002 3350 355 165 133
For additions, improvements or repairs
to this property
1519 1031 355 0 133
To consolidate debts 1797 1740 0 57 0
For investment in other real estate 1515 1052 355 107 0
For other types of investments 836 836 0 0 0
For educational or medical expenses 974 974 0 0 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 451 451 0 0 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
451 451 0 0 0
Other 972 972 0 0 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
4303 3857 0 446 0
Properties that refinanced
and did not report if received
cash back
883 599 0 284 0
Properties that did not
refinance
41542 29155 3658 7755 974
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
18773 13287 1726 3674 86
1997 and 1998 9075 5930 1833 1196 117
1995 and 1996 4608 2824 0 1702 82
1990 to 1994 7315 5801 0 917 598
1985 to 1989 6865 5732 375 757 0
1980 to 1984 2674 2405 13 256 0
1979 or earlier 1421 982 66 149 225

First Mortgage Insurance Status

FHA-insured first mortgage
4116 3626 188 151 150
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
3959 3894 0 66 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
1074 596 0 227 251
Insured conventional first mortgage 4463 2875 566 763 260
Uninsured conventional first mortgage 37119 25972 3258 7443 446
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $50,000
4508 3053 0 1455 0
$50,000 to $99,999 6521 3744 1196 1283 298
$100,000 to $149,999 6576 4703 797 798 278
$150,000 to $199,999 4670 3445 305 696 225
$200,000 to $249,999 3965 2552 211 1202 0
$250,000 to $299,999 2535 2151 233 116 35
$300,000 to $399,999 4406 3269 539 598 0
$400,000 to $499,999 3699 2919 216 564 0
$500,000 to $749,999 4805 3769 115 839 82
$750,000 to $999,999 3417 2708 12 543 154
$1,000,000 to $1,499,999 3624 3104 348 172 0
$1,500,000 to $1,999,999 460 419 41 0 0
$2,000,000 or more 376 296 0 45 35
Not reported 1168 830 0 338 0
Median 228703 258357 149574 194539 145864
Mean 389103 425183 290340 291417 302860

Total Mortgage Loan

Less than $50,000
4508 3053 0 1455 0
$50,000 to $99,999 6091 3403 1196 1194 298
$100,000 to $149,999 6648 4811 761 798 278
$150,000 to $199,999 4543 3445 305 569 225
$200,000 to $249,999 3067 2324 211 532 0
$250,000 to $299,999 3018 1786 233 964 35
$300,000 to $399,999 3785 3028 211 545 0
$400,000 to $499,999 4026 2952 489 585 0
$500,000 to $749,999 5713 4587 206 839 82
$750,000 to $999,999 3402 2693 12 543 154
$1,000,000 to $1,499,999 3850 3259 348 243 0
$1,500,000 to $1,999,999 535 494 41 0 0
$2,000,000 or more 376 296 0 45 35
Not reported 1168 830 0 338 0
Median 244398 271893 154857 213134 145864
Mean 404633 440504 309108 308364 302860

Traditional First Mortgage Outstanding
Debt

Less than $50,000
7021 4954 185 1631 251
$50,000 to $99,999 8217 4628 1424 1893 272
$100,000 to $149,999 7373 5416 912 766 278
$150,000 to $199,999 2496 1935 0 562 0
$200,000 to $249,999 4231 3127 0 1068 35
$250,000 to $299,999 2783 1950 388 444 0
$300,000 to $399,999 4123 3259 435 430 0
$400,000 to $499,999 2853 2424 164 183 82
$500,000 to $749,999 4276 3181 115 825 154
$750,000 to $999,999 3145 2553 211 381 0
$1,000,000 to $1,499,999 2446 2227 138 82 0
$1,500,000 to $1,999,999 313 237 41 0 35
$2,000,000 or more 286 241 0 45 0
Not reported 1168 830 0 338 0
Median 190349 216221 120674 141198 102314
Mean 333089 366832 253647 236410 245541

Total Mortgage Outstanding Debt

Less than $50,000
6610 4543 185 1631 251
$50,000 to $99,999 8041 4578 1388 1804 272
$100,000 to $149,999 7219 5352 948 640 278
$150,000 to $199,999 2541 1979 0 562 0
$200,000 to $249,999 3110 2590 0 485 35
$250,000 to $299,999 3846 2253 388 1204 0
$300,000 to $399,999 3390 2937 107 345 0
$400,000 to $499,999 3249 2493 438 236 82
$500,000 to $749,999 5148 3999 169 825 154
$750,000 to $999,999 3065 2474 211 381 0
$1,000,000 to $1,499,999 2712 2421 138 153 0
$1,500,000 to $1,999,999 388 312 41 0 35
$2,000,000 or more 286 241 0 45 0
Not reported 1127 788 0 338 0
Median 203177 228545 121799 157185 102314
Mean 342097 375905 272187 242415 245541

Current Interest Rate on First Mortgage

Less than 6.0 percent
19499 13981 1703 2991 824
6.0 percent 174 133 0 42 0
6.1 to 6.4 percent 364 38 211 33 82
6.5 to 6.9 percent 2963 1809 0 1107 47
7.0 percent 2068 1467 325 276 0
7.1 to 7.4 percent 532 313 188 30 0
7.5 to 7.9 percent 3162 2188 346 628 0
8.0 percent 833 619 38 91 86
8.1 to 8.4 percent 2031 1349 355 327 0
8.5 to 8.9 percent 3627 2557 461 608 0
9.0 percent 1281 1134 147 0 0
9.1 to 9.4 percent 818 818 0 0 0
9.5 to 9.9 percent 2367 1801 185 381 0
10.0 percent 389 302 0 88 0
10.1 to 10.4 percent 79 0 0 79 0
10.5 to 10.9 percent 754 490 0 264 0
11.0 percent 581 527 54 0 0
11.1 to 12.9 percent 893 825 0 0 69
13.0 percent 433 433 0 0 0
13.1 percent or more 7881 6176 0 1705 0
Not reported 0 0 0 0 0
Median 7.3 7.7 7.0 7.1 4.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
43 43 0 0 0
Constant payment 43 43 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Properties without interest
rate buydown
19148 12902 2509 3604 133
Not reported 31540 24016 1504 5046 974

Term of First Mortgage

Less than 5 years
333 0 321 12 0
5 years 1694 600 942 151 0
6 to 9 years 563 166 350 0 47
10 years 1807 1477 33 297 0
11 to 14 years 569 260 273 36 0
15 years 3148 2009 155 984 0
16 to 19 years 0 0 0 0 0
20 years 1592 392 164 1036 0
21 to 24 years 0 0 0 0 0
25 years 896 810 0 0 86
26 to 29 years 103 103 0 0 0
30 years 8958 7051 188 1568 150
More than 30 years 3931 3931 0 0 0
No stated term 27137 20162 1584 4566 824
Median 30 30 6 21 30

Unexpired Term of First Mortgage

Less than 5 years
2528 587 1570 324 47
5 to 9 years 3323 2416 313 594 0
10 to 14 years 5118 3678 193 1247 0
15 to 19 years 1961 1357 164 440 0
20 to 24 years 1217 922 0 141 154
25 to 29 years 4819 3434 0 1303 82
30 or more years 4628 4406 188 33 0
No stated term or not computed 27137 20162 1584 4566 824
Median 17 22 4 15 23

Holder of First Mortgage

Commercial bank or trust company
12791 6114 2646 3984 47
Savings and loan association, federal
savings bank
5984 4774 135 765 310
Mutual savings bank 1524 1389 0 67 69
Life insurance company 1545 930 164 199 251
Mortgage banker or mortgage company 597 184 0 414 0
Federally-sponsored secondary market
agency or pool
13566 10646 720 2048 152
Conventional mortgage pool 95 62 33 0 0
Other federal agency 4974 4649 0 325 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 926 861 65 0 0
Finance company 349 245 51 53 0
State or municipal government or
housing finance agency
2701 1535 100 789 278
Individual or individual's estate 4729 4631 98 0 0
Other 948 942 0 6 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
36111 25236 2611 7576 688
Less than 40 percent 1575 801 36 737 0
40 to 49 percent 1041 883 0 89 69
50 to 59 percent 1124 622 307 195 0
60 to 69 percent 3962 2844 0 812 306
70 to 79 percent 4016 2510 347 881 278
80 to 89 percent 6124 3767 515 1842 0
90 to 94 percent 1183 1132 51 0 0
95 to 99 percent 2036 1762 201 72 0
100 percent or more 14144 10348 1153 2608 35
Not reported 906 567 0 338 0
Median 90 94 96 85 69
Other properties 14620 11725 1401 1074 419
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
36111 25236 2611 7576 688
Less than 40 percent 1470 655 46 769 0
40 to 49 percent 1495 955 185 287 69
50 to 59 percent 1168 691 269 207 0
60 to 69 percent 7638 6250 244 838 306
70 to 79 percent 6197 3618 456 1845 278
80 to 89 percent 6033 3641 720 1673 0
90 to 94 percent 1481 1430 51 0 0
95 to 99 percent 1841 1828 13 0 0
100 percent or more 7881 5600 628 1618 35
Not reported 906 567 0 338 0
Median 79 80 81 78 69
Other properties 14620 11725 1401 1074 419
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
2088 1508 243 338 0
Not subprime loan 48643 35454 3770 8312 1107
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
9757 0 0 8650 1107
Treasury security 2233 0 0 2233 0
Average cost of funds in bank district 309 0 0 309 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 1408 0 0 1361 47
No index used 118 0 0 32 86
Not reported 5689 0 0 4715 974
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
9757 0 0 8650 1107
Monthly 142 0 0 142 0
Every 3 months 0 0 0 0 0
Every 6 months 101 0 0 101 0
Yearly 3010 0 0 3010 0
Every 3 years 17 0 0 17 0
Every 5 years 277 0 0 277 0
Other 435 0 0 388 47
Not reported 5774 0 0 4715 1060
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
9757 0 0 8650 1107
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 135 0 0 135 0
2 percent 1821 0 0 1821 0
2.1 to 2.9 percent 10 0 0 10 0
3 percent 128 0 0 128 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 284 0 0 284 0
No caps 1594 0 0 1461 133
Not reported 5784 0 0 4810 974
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
9757 0 0 8650 1107
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 1928 0 0 1881 47
No caps 1971 0 0 1886 86
Not reported 5857 0 0 4883 974
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
9757 0 0 8650 1107
Yes, rate has changed 3040 0 0 2993 47
No change since mortgage made 1080 0 0 994 86
Not reported 5636 0 0 4662 974
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
9757 0 0 8650 1107
Less than 1 percent 82 0 0 82 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 47 0 0 0 47
2 percent 462 0 0 462 0
2.1 to 2.9 percent 1448 0 0 1448 0
3 percent 718 0 0 718 0
3.1 to 3.9 percent 458 0 0 458 0
4 percent 6 0 0 6 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 560 0 0 560 0
Not reported 5976 0 0 4916 1060
Median 2.9 0.0 0.0 2.9 1.5
Other properties 40974 36962 4013 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
9757 0 0 8650 1107
Can be converted 186 0 0 186 0
Cannot be converted 3500 0 0 3367 133
Not reported 6071 0 0 5097 974
Other properties 40974 36962 4013 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
40 0 0 40 0
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 40 0 0 40 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
44567 36962 4013 3460 133
Not reported 6124 0 0 5150 974

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
40 0 0 40 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 40 0 0 40 0
Not reported 0 0 0 0 0
Monthly payments cannot change 44567 36962 4013 3460 133
Not reported 6124 0 0 5150 974

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
45862 33225 3956 7824 855
Interest and principal 45808 33225 3956 7771 855
Fully amortized 35692 26800 642 7394 855
Not fully amortized 10116 6425 3314 377 0
Interest only 54 0 0 54 0
No regular payments required 708 439 56 213 0
Not reported 4161 3297 0 612 251

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
45808 33225 3956 7771 855
Real estate taxes 7552 5837 133 1582 0
Property insurance 5297 4123 133 1041 0
Mortgage insurance 1324 1324 0 0 0
Other 3594 3411 33 150 0
No items included or not reported 37972 27388 3824 5905 855
No regular payments of interest
and principal
4923 3736 56 879 251

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
50022 36522 3956 8437 1107
Less than $100 10330 6605 811 2831 82
$100 to $199 13016 9583 975 1790 670
$200 to $299 11319 8333 910 2007 69
$300 to $399 3619 2486 689 443 0
$400 to $499 2068 1628 327 77 35
$500 to $599 978 766 211 0 0
$600 to $699 164 54 0 110 0
$700 to $799 746 746 0 0 0
$800 to $899 726 444 0 282 0
$900 to $999 31 31 0 0 0
$1,000 to $1,249 313 313 0 0 0
$1,250 to $1,499 93 93 0 0 0
$1,500 or more 2459 2142 33 284 0
Not reported 4161 3297 0 612 251
Median 197 205 221 160 152
Mean 862 1094 251 260 170
No regular payments required 708 439 56 213 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
50022 36522 3956 8437 1107
Up-to-date, ahead of schedule, or
less than 90 days past due
19863 13504 2453 3774 133
Delinquent by 90 days or more 481 481 0 0 0
Legal proceedings have begun 481 481 0 0 0
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 29678 22538 1504 4662 974
Other properties 708 439 56 213 0

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
50022 36522 3956 8437 1107
Less than $100 14006 9627 811 3234 334
$100 to $199 12653 9183 858 1943 670
$200 to $299 11833 8675 1027 2063 69
$300 to $399 3953 2820 689 443 0
$400 to $499 1840 1401 327 77 35
$500 to $599 978 766 211 0 0
$600 to $699 392 282 0 110 0
$700 to $799 746 746 0 0 0
$800 to $899 726 444 0 282 0
$900 to $999 31 31 0 0 0
$1,000 to $1,249 313 313 0 0 0
$1,250 to $1,499 93 93 0 0 0
$1,500 or more 2459 2142 33 284 0
Not reported 0 0 0 0 0
Median 187 194 230 151 133
Mean 794 1000 252 244 132
No regular payments required 708 439 56 213 0

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

Acquired before 2000 and
regular payments of interest
and/or princi
40798 29713 3570 6659 855
Less than 20 percent 3142 1471 708 915 47
20 to 29 percent 3799 2965 98 736 0
30 to 39 percent 3890 3429 12 449 0
40 to 49 percent 5111 3268 294 1189 359
50 to 59 percent 3623 1553 463 1452 154
60 to 69 percent 4888 4511 218 160 0
70 to 79 percent 2381 1910 355 116 0
80 to 89 percent 2264 1285 562 416 0
90 to 99 percent 1014 724 0 255 35
100 percent or more 10400 8311 858 971 260
Not reported or not computed 287 287 0 0 0
Median 61 64 70 50 51
Other properties 9933 7248 443 1990 251

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

Acquired before 2000 and regular
payments of interest and/or
principal
40798 29713 3570 6659 855
Less than 20 percent 2980 1341 708 883 47
20 to 29 percent 3748 3002 98 647 0
30 to 39 percent 3505 3064 12 428 0
40 to 49 percent 5071 3285 240 1187 359
50 to 59 percent 3671 1403 517 1597 154
60 to 69 percent 5005 4690 155 160 0
70 to 79 percent 2237 1703 418 116 0
80 to 89 percent 2447 1468 562 416 0
90 to 99 percent 1140 850 0 255 35
100 percent or more 10707 8619 858 971 260
Not reported or not computed 287 287 0 0 0
Median 63 66 71 51 51
Other properties 9933 7248 443 1990 251

Real Estate Tax Per $1,000 Value

Acquired before 2000
45050 32888 3570 7485 1107
Less than $5 8299 5700 986 1532 82
$5 to $9 9040 6570 653 1490 328
$10 to $14 9680 6660 916 2023 82
$15 to $19 6196 4412 596 824 363
$20 to $24 3811 2773 419 367 251
$25 to $29 2295 1736 0 559 0
$30 to $39 4754 4403 0 351 0
$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 974 636 0 338 0
Median 12 13 11 11 16
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
45050 32888 3570 7485 1107
Less than 5 percent 6896 5138 744 966 47
5 to 9 percent 17613 11821 1711 3618 463
10 to 14 percent 8380 6156 407 1471 345
15 to 19 percent 4755 4427 0 329 0
20 to 24 percent 962 506 366 89 0
25 to 29 percent 1077 392 305 380 0
30 to 34 percent 1634 1597 36 0 0
35 to 39 percent 562 532 0 30 0
40 percent or more 1911 1395 0 264 251
Not reported or not computed 1261 923 0 338 0
Median 9 10 8 9 11
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Property Management

Property managed by paid property
management company
21961 18264 571 2645 481
Property not managed by paid property
management company
22109 13927 2905 4651 626
Not reported 6661 4771 536 1353 0

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
45050 32888 3570 7485 1107
Less than $100 795 600 36 159 0
$100 to $199 1840 1091 355 393 0
$200 to $299 2564 1098 542 839 86
$300 to $399 1402 1334 0 68 0
$400 to $499 1543 1065 66 412 0
$500 to $599 1272 1229 0 8 35
$600 to $699 2463 1172 0 1291 0
$700 to $799 1102 1016 0 39 47
$800 to $899 883 492 327 64 0
$900 to $999 488 488 0 0 0
$1,000 to $1,249 959 509 100 63 286
$1,250 to $1,499 274 261 13 0 0
$1,500 to $1,999 569 194 0 29 346
$2,000 to $2,499 403 403 0 0 0
$2,500 or more 2738 2448 0 290 0
No expenses 15279 10934 1409 2711 225
Not reported or not computed 10476 8555 721 1118 82
Median 609 624 261 489 1203
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
45050 32888 3570 7485 1107
Less than $100 1890 1458 221 210 0
$100 to $199 3170 1926 198 1047 0
$200 to $299 2695 1949 332 116 298
$300 to $399 4070 2453 801 538 278
$400 to $499 2539 1993 0 546 0
$500 to $599 1938 1214 340 385 0
$600 to $699 2107 1854 12 155 86
$700 to $799 3505 2192 0 1313 0
$800 to $899 980 540 327 112 0
$900 to $999 1695 1558 46 91 0
$1,000 to $1,249 2033 1150 316 532 35
$1,250 to $1,499 1500 900 262 270 69
$1,500 to $1,999 658 652 0 6 0
$2,000 to $2,499 268 185 13 70 0
$2,500 or more 3201 2917 0 284 0
No expenses 761 761 0 0 0
Not reported or not computed 12039 9185 702 1811 341
Median 591 626 385 599 330
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
45050 32888 3570 7485 1107
Less than $250 7288 5275 743 992 278
$250 to $499 9376 5773 1056 2427 121
$500 to $749 4259 3615 54 542 47
$750 to $999 1400 926 273 132 69
$1,000 to $1,249 2253 1720 328 205 0
$1,250 to $1,499 549 450 46 54 0
$1,500 to $1,749 375 192 0 183 0
$1,750 to $1,999 588 588 0 0 0
$2,000 to $2,499 372 354 12 6 0
$2,500 or more 1618 1334 0 284 0
No expenses 5879 4082 356 1189 251
Not reported or not computed 11093 8579 702 1471 341
Median 430 460 371 396 231
Acquired 2000 and 2001 (part) 5681 4073 443 1165 0

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