U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - South
Table 6-3d. Mortgage Insurance Status, 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.
@5Includes first mortgages that are guaranteed by the VA or Rural Housing Service/Rural Development or are insured by state and local governments with or without FHA insurance, VA, or Rural Housing Service/Rural Development guarantees.
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^^

Properties with government-insured
rental market during all of year preceding survey and cooperatively owned apartments^^
or guaranteed first mortgage
Total mortgaged
properties
FHA
first mortgage
Other
insured or guaranteed
first mortgage@5
Properties with
privately-insured
first mortgage
Not insured

5- to 49-housing-unit properties
with traditional first mortgage
50731 4116 5033 4463 37119

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
40838 3917 2425 3358 31138
In central cities 22281 1824 798 1945 17714
Not in central cities 18556 2092 1627 1413 13424
Outside MAs 9893 199 2608 1105 5981

Number of Housing Units

5 to 9 housing units
24806 1905 230 2269 20402
10 to 19 housing units 11433 1269 885 1097 8182
20 to 29 housing units 6911 502 1280 553 4576
30 to 39 housing units 4328 222 1643 269 2194
40 to 49 housing units 3253 218 996 274 1766

Manner of Acquisition

By purchase
44398 3271 4537 4339 32251
Placed one new mortgage 36587 2910 4175 3111 26391
Placed two or more new mortgages 3356 188 81 483 2603
Assumed mortgage(s) already on property 2280 22 281 96 1881
Assumed mortgage(s) already on property
and placed new mortgage
885 55 0 488 342
Borrowed using assets other than this
property as collateral
208 0 0 162 47
Paid all cash-no borrowing 566 31 0 0 534
Other manner 517 64 0 0 453
By inheritance or gift 572 0 51 0 520
By divorce 0 0 0 0 0
By tax free exchange of
other property
378 0 0 0 378
By foreclosure or assignment 946 233 251 0 462
By some other manner 431 0 0 124 307
Not reported 4006 612 193 0 3200

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
21227 1893 1005 1689 16639
Sale of stock or other partnership
shares for this project
505 0 102 0 402
Sale of previously owned stocks,
shares, or other securities
1706 0 0 0 1706
Sale of land or other real estate 1710 0 186 194 1330
Owner's cash, bank deposits,
share accounts, or bonds
8868 858 612 656 6742
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
1777 592 74 144 966
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 55 0 0 8
Proceeds from sale of tax credits 111 0 26 0 84
From parents or relatives 649 0 159 0 490
Other cash source 1029 142 29 0 858
Non-cash source 371 0 69 211 90
No downpayment required 3801 266 141 289 3105
Not reported 2717 39 52 284 2341
Other properties 27017 1610 3905 2774 18728
Not reported 2487 612 123 0 1752

Year Property Acquired

1999 to 2001 (part)
12623 1572 201 114 10736
1997 and 1998 6528 567 419 225 5317
1995 and 1996 5434 367 520 1386 3161
1990 to 1994 10345 897 1680 232 7536
1985 to 1989 7405 484 857 1544 4519
1980 to 1984 4672 115 1253 415 2888
1975 to 1979 2086 98 101 391 1495
1970 to 1974 1333 15 0 97 1221
1969 or earlier 306 0 0 60 246

Building and Land Acquisition

Acquired at same time
35618 3238 2550 2728 27102
Not acquired at same time 9240 265 2265 1381 5329
Land not owned by building owner 1030 612 0 0 418
Not reported 4843 0 218 355 4270

Property New or Previously Owned When
Acquired

Acquired by purchase
44398 3271 4537 4339 32251
New 13647 537 3336 1446 8328
Previously owned 29776 2734 1150 2893 22999
As residential property 27699 2557 1085 2827 21231
Converted from nonresidential use 2077 178 66 66 1768
Other 50 0 50 0 0
Not reported 924 0 0 0 924
Other properties 2327 233 302 124 1668
Not reported 4006 612 193 0 3200

Year Structure Built

1999 to March 2000
2382 338 52 0 1992
1997 and 1998 1325 377 118 78 752
1995 and 1996 2139 0 249 775 1116
1990 to 1994 4221 324 1068 0 2828
1980 to 1989 12313 1526 2304 1558 6925
1970 to 1979 9670 1179 527 317 7647
1960 to 1969 7811 116 81 1158 6457
1950 to 1959 4566 0 309 131 4126
1940 to 1949 2161 0 232 54 1876
1939 or earlier 4142 255 93 393 3400

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
16029 1526 485 339 13679
Less than $20,000 4128 445 63 0 3620
$20,000 to $39,999 5798 440 297 261 4800
$40,000 to $59,999 2923 249 125 78 2471
$60,000 to $79,999 1222 53 0 0 1169
$80,000 to $99,999 636 0 0 0 636
$100,000 to $124,999 335 0 0 0 335
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 310 0 0 0 310
$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 0 338
Median 33407 34452 32088 32988 33415
Mean 67263 142785 33899 32603 60879
Other properties 34701 2589 4548 4124 23440

Value

Less than $100,000
4614 977 278 0 3359
$100,000 to $199,999 7010 637 225 998 5151
$200,000 to $299,999 8460 232 242 1300 6686
$300,000 to $399,999 5273 712 212 186 4164
$400,000 to $499,999 4815 331 323 573 3588
$500,000 to $749,999 6715 177 1146 591 4801
$750,000 to $999,999 4227 121 525 331 3250
$1,000,000 to $1,499,999 3440 250 1009 261 1920
$1,500,000 to $1,999,999 3444 184 751 125 2384
$2,000,000 to $2,999,999 1665 103 220 98 1243
$3,000,000 to $3,999,999 22 22 0 0 0
$4,000,000 to $4,999,999 161 31 0 0 130
$5,000,000 or more 885 338 103 0 444
Median 400190 329775 793532 294918 380793
Mean 702293 932524 989721 495305 662683

Value Per Housing Unit@8

Less than $20,000
11024 1481 1116 688 7739
$20,000 to $39,999 18826 791 2568 2184 13283
$40,000 to $59,999 11412 1203 1080 1062 8067
$60,000 to $79,999 2235 172 105 98 1859
$80,000 to $99,999 1611 99 61 147 1304
$100,000 to $124,999 1823 31 0 284 1508
$125,000 to $149,999 460 0 72 0 388
$150,000 to $174,999 928 0 0 0 928
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 325 0 31 0 294
$250,000 to $299,999 515 0 0 0 515
$300,000 to $499,999 896 0 0 0 896
$500,000 or more 677 338 0 0 338
Median 35236 34594 30907 34133 36292
Mean 56969 74281 34219 37929 60423

Purchase Price as Percent of Value@8

Acquired by purchase
44398 3271 4537 4339 32251
Purchased 1997 to 2001 (part) 16029 1526 485 339 13679
Less than 60 percent 2409 348 98 147 1817
60 to 69 percent 1243 87 0 0 1157
70 to 79 percent 1112 0 0 0 1112
80 to 99 percent 5693 286 178 192 5037
100 percent or more 5572 806 210 0 4556
Median 91 589 96 82 91
Purchased 1990 to 1996 (part) 14356 1032 1879 1582 9863
Less than 40 percent 2139 0 0 0 2139
40 to 59 percent 1146 0 105 166 875
60 to 79 percent 5419 472 447 900 3600
80 to 99 percent 1960 189 274 232 1265
100 percent or more 3692 371 1053 284 1984
Median 74 85 1169 74 71
Purchased 1989 or earlier 14013 713 2173 2418 8709
Less than 20 percent 85 0 38 0 47
20 to 39 percent 902 0 0 97 805
40 to 59 percent 3827 359 353 984 2131
60 to 79 percent 3631 89 106 841 2594
80 to 99 percent 2172 66 291 386 1429
100 percent or more 3397 198 1385 110 1703
Median 72 60 1424 63 71
Not acquired by purchase 6332 845 495 124 4868

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
22995 994 3379 1687 16936
Less than $5,000 6075 346 1033 636 4060
$5,000 to $9,999 4126 233 539 54 3301
$10,000 to $24,999 5612 102 762 547 4201
$25,000 to $49,999 3119 134 574 29 2383
$50,000 to $74,999 1224 99 151 47 927
$75,000 to $99,999 523 0 126 213 184
$100,000 to $149,999 1197 0 77 162 958
$150,000 to $199,999 197 0 0 0 197
$200,000 to $299,999 110 41 0 0 69
$300,000 or more 813 39 118 0 656
Median 13465 8247 12315 14211 13952
Mean 44406 32705 32081 30754 48911
Properties with no capital
improvements between 1998 and 2000
15585 2268 1084 2042 10191
Capital improvements not
reported
12151 854 570 734 9992

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
22995 994 3379 1687 16936
Less than $500 7364 154 1975 432 4802
$500 to $999 3819 660 504 384 2270
$1,000 to $2,499 6512 0 670 212 5630
$2,500 to $4,999 1928 99 41 512 1276
$5,000 to $7,499 1297 41 0 147 1110
$7,500 to $9,999 653 39 97 0 517
$10,000 to $14,999 367 0 0 0 367
$15,000 to $19,999 45 0 0 0 45
$20,000 to $29,999 608 0 91 0 516
$30,000 or more 402 0 0 0 402
Median 1073 759 428 1195 1372
Mean 3328 1309 1417 2176 3942
Properties with no capital
improvements between 1998 and 2000
15585 2268 1084 2042 10191
Capital improvements not
reported
12151 854 570 734 9992

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
45050 3800 4890 4463 31897
Less than $100 6631 1329 340 997 3965
$100 to $199 6001 159 364 669 4809
$200 to $299 7552 664 1833 765 4290
$300 to $399 7024 676 1368 797 4183
$400 to $499 6012 55 337 400 5220
$500 to $599 3406 103 240 183 2881
$600 to $799 1767 64 29 0 1675
$800 to $999 1093 114 129 207 643
$1000 or more 5277 636 251 446 3944
No rental receipts 287 0 0 0 287
Median 331 262 295 274 366
Mean 2353 802 10913 655 1464
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Rental Receipts as Percent of Value@8

Acquired before 2000
45050 3800 4890 4463 31897
Less than 5 percent 833 0 115 207 512
5 to 9 percent 18514 2221 1710 2397 12187
10 to 14 percent 10333 685 1886 664 7098
15 to 19 percent 6903 55 495 354 5999
20 to 24 percent 3334 466 195 47 2627
25 to 29 percent 641 0 27 124 491
30 to 39 percent 960 107 60 42 752
40 percent or more 3243 266 402 628 1946
Median 11 9 12 9 12
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
45050 3800 4890 4463 31897
Less than 1.0 percent 4840 632 863 323 3022
1.0 to 2.9 percent 6258 130 543 632 4953
3.0 to 4.9 percent 2756 242 1122 300 1093
5.0 to 6.9 percent 1662 99 397 355 811
7.0 to 8.9 percent 2125 288 284 203 1350
9.0 to 10.9 percent 4452 43 223 211 3974
11.0 to 12.9 percent 1282 247 79 91 865
13.0 to 14.9 percent 1070 0 67 120 883
15.0 percent or more 7010 221 433 1017 5338
Not reported or not computed 13595 1899 877 1211 9607
Median 7.2 4.6 4.1 7.2 8.9
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Age Restrictions

Property restricted to people
age 55 or older
8490 565 1380 1250 5296
Property not restricted to people
age 55 or older
37693 3375 3575 2602 28141
Not reported 4547 176 79 611 3682

Age Composition

Over one-half the residents of the
building age 55 or older
3282 264 305 0 2713
Over one-half the residents of the
building not age 55 or older
34429 3272 3102 2886 25169
Not reported 13020 580 1626 1577 9237

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

Property provides meal service
4530 477 489 419 3145
Charge included in rent 3478 477 255 162 2584
Charge not included in rent 0 0 0 0 0
Not reported 1052 0 235 257 561
Property does not provide meal
service
3804 297 1069 0 2438
Not reported 42397 3342 3475 4045 31536

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
2619 233 1720 54 613
Government rental subsidy 6496 547 1279 579 4092
Government grant 98 0 43 0 54
Property tax relief 252 0 0 89 163
Federal income tax credit for
low-income, old or historic properties
1928 69 944 98 818
Accelerated federal income tax
depreciation for low- and
moderate-income properties
693 0 370 47 276
Subsidy from a non-profit corporation 222 0 119 0 103
None of the above benefits 32523 3336 1943 3294 23950
Not reported 9061 0 555 356 8150

Source of Property Benefits@1

With property benefits
9146 779 2534 813 5019
Federal government 7691 712 2372 538 4069
State government 542 0 43 35 463
Local government 1444 53 34 240 1118
Non-profit corporation 222 0 119 0 103
Not reported 227 15 0 0 213
With no property benefits 32523 3336 1943 3294 23950
Not reported 9061 0 555 356 8150

Reason for Benefits@1

With property benefits
9146 779 2534 813 5019
Occupied by low- or moderate-income
individuals
8440 765 2469 724 4483
Occupied by elderly or disabled
individuals
2499 151 829 54 1466
A historic structure 430 233 0 54 144
Located in a community development or
economic development area
89 0 0 54 36
Covered by a Homestead Exemption 143 0 0 143 0
Covered by a Community Land Trust 54 0 0 54 0
Covered by disaster relief 54 0 0 54 0
Other reason 0 0 0 0 0
Not reported 69 15 0 0 54
With no property benefits 32523 3336 1943 3294 23950
Not reported 9061 0 555 356 8150

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
17104 1911 2638 1470 11084
Property has never had tenants
receiving Section 8 assistance
25973 1524 2181 2630 19637
Not reported 7654 680 214 363 6397

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
25358 1490 1085 2053 20730
Limited partnership 12600 1341 3059 1234 6967
Joint venture 255 0 0 0 255
General partnership 2455 406 303 541 1206
Life insurance company 144 0 0 0 144
Depository institution 0 0 0 0 0
Public real estate investment trust 226 0 31 0 195
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
6305 485 139 599 5081
Housing cooperative organization 351 0 251 35 64
Non-profit or church-related institution 691 55 131 0 505
Pension fund 0 0 0 0 0
Fraternal organization 8 0 0 0 8
Other 2338 338 34 0 1965

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
44238 3640 4727 4167 31704
2 mortgages 6062 476 303 296 4986
3 or more mortgages 431 0 2 0 429

Form of Debt of First Mortgage

Mortgage or deed of trust
50731 4116 5033 4463 37119
Contract to purchase 0 0 0 0 0
Some other loan secured by this property 0 0 0 0 0

Method of Loan Application

By computer over the Internet or
by e-mail
176 0 0 0 176
By telephone or FAX 3642 560 129 58 2895
By regular mail 3469 389 1307 165 1608
By personal visit 30796 1943 2585 3383 22885
Through third party (such as real
estate agent or builder)
5920 1049 0 192 4679
Some other way 1085 98 306 284 397
Not reported 4742 0 593 327 3821
Not available 903 77 113 54 659

Origin of First Mortgage

Mortgage made at time property acquired
38623 3297 4650 2928 27747
Mortgage assumed at the time property
acquired
2920 77 294 541 2007
Mortgage placed later than acquisition of
property
9188 741 89 993 7365
Refinanced mortgage 8889 741 89 951 7107
Same lender 3671 509 89 224 2850
Different lender 5218 233 0 728 4257
Mortgage placed on property
owned free and clear of debt
300 0 0 42 258
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 741 89 993 7365
Obtain lower interest rate 4864 429 87 502 3846
Increase payment period for mortgage 2 0 2 0 0
Reduce payment period for mortgage 52 0 0 0 52
Renew or extend loan that had fallen
due, without increasing outstanding
balance
965 43 0 166 756
Receive cash or increase outstanding
balance of loan
610 0 0 42 568
Other reason 814 36 0 0 778
Not reported 1881 233 0 284 1365
Other properties 41542 3374 4944 3470 29754
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 0 61 397 3545
Less than $100,000 2483 0 0 355 2128
$100,000 to $199,999 510 0 0 0 510
$200,000 to $299,999 434 0 0 42 392
$300,000 to $399,999 227 0 0 0 227
$400,000 to $499,999 0 0 0 0 0
$500,000 to $749,999 134 0 61 0 73
$750,000 to $999,999 0 0 0 0 0
$1,000,000 to $1,499,999 68 0 0 0 68
$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 0 0 0 147
Not reported 0 0 0 0 0
Median 80601 0 625000 55889 83293
Mean 554529 0 500000 29393 614227
Properties that refinanced
and did not receive cash back
4303 741 28 224 3310
Properties that refinanced
and did not report if received
cash back
883 0 0 373 510
Properties that did not
refinance
41542 3374 4944 3470 29754
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 0 61 397 3545
For additions, improvements or repairs
to this property
1519 0 0 355 1164
To consolidate debts 1797 0 0 0 1797
For investment in other real estate 1515 0 0 397 1118
For other types of investments 836 0 0 0 836
For educational or medical expenses 974 0 0 0 974
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 451 0 0 0 451
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 0 0 0 451
Other 972 0 61 0 911
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
4303 741 28 224 3310
Properties that refinanced
and did not report if received
cash back
883 0 0 373 510
Properties that did not
refinance
41542 3374 4944 3470 29754
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
4332 476 282 296 3279
Provide funds for the purchase of this
property
1566 108 43 230 1185
Provide funds for additions,
improvements or repairs to this
property
1145 332 171 66 576
Provide funds for consolidation of debts 390 0 0 0 390
Provide funds for investment in other
real estate
0 0 0 0 0
Provide funds for other types of
investments
2 0 2 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 39 0 0 0 39
Provide funds to settle a divorce 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 264 36 66 0 162
Not reported 927 0 0 0 927
Other properties 46398 3640 4751 4167 33840

Purpose of Line of Credit

Properties with second
mortgage or line of credit
2489 0 24 0 2465
Provide funds for additions,
improvements or repairs to this
property
1221 0 24 0 1197
Provide funds for consolidation of debts 276 0 0 0 276
Provide funds for investment in other
real estate
0 0 0 0 0
Provide funds for other types of
investments
0 0 0 0 0
Provide funds for educational or
medical expenses
0 0 0 0 0
Provide funds for starting a business 0 0 0 0 0
Provide funds to settle a divorce 0 0 0 0 0
Provide funds to pay taxes 0 0 0 0 0
Provide funds to purchase automobile,
truck, or vehicle
0 0 0 0 0
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 699 0 0 0 699
Not reported 293 0 0 0 293
Other properties 48242 4116 5009 4463 34654

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
18773 1973 325 922 15553
1997 and 1998 9075 567 421 622 7466
1995 and 1996 4608 663 634 536 2776
1990 to 1994 7315 343 1538 359 5075
1985 to 1989 6865 448 923 1152 4341
1980 to 1984 2674 51 1119 415 1089
1979 or earlier 1421 70 73 458 821

Traditional First Mortgage Loan

Less than $50,000
4508 365 0 740 3402
$50,000 to $99,999 6521 656 450 348 5066
$100,000 to $149,999 6576 247 70 779 5480
$150,000 to $199,999 4670 704 198 501 3266
$200,000 to $249,999 3965 374 264 443 2884
$250,000 to $299,999 2535 421 37 356 1722
$300,000 to $399,999 4406 173 209 290 3734
$400,000 to $499,999 3699 115 151 235 3198
$500,000 to $749,999 4805 252 1021 434 3098
$750,000 to $999,999 3417 340 730 170 2177
$1,000,000 to $1,499,999 3624 34 1732 0 1858
$1,500,000 to $1,999,999 460 0 139 78 243
$2,000,000 or more 376 53 31 0 292
Not reported 1168 379 0 89 700
Median 228703 192567 765722 177927 215150
Mean 389103 297942 816624 268520 353860

Total Mortgage Loan

Less than $50,000
4508 365 0 740 3402
$50,000 to $99,999 6091 656 401 348 4685
$100,000 to $149,999 6648 247 70 779 5552
$150,000 to $199,999 4543 704 198 501 3140
$200,000 to $249,999 3067 374 264 311 2117
$250,000 to $299,999 3018 188 37 258 2536
$300,000 to $399,999 3785 120 144 422 3099
$400,000 to $499,999 4026 113 151 235 3527
$500,000 to $749,999 5713 539 1085 368 3721
$750,000 to $999,999 3402 340 649 236 2177
$1,000,000 to $1,499,999 3850 34 1815 98 1903
$1,500,000 to $1,999,999 535 0 188 78 269
$2,000,000 or more 376 53 31 0 292
Not reported 1168 379 0 89 700
Median 244398 192567 777772 177927 230610
Mean 404633 319381 844370 295291 365745

Traditional First Mortgage Outstanding
Debt

Less than $50,000
7021 420 467 879 5255
$50,000 to $99,999 8217 903 162 1030 6122
$100,000 to $149,999 7373 748 198 773 5654
$150,000 to $199,999 2496 331 0 54 2111
$200,000 to $249,999 4231 233 264 485 3248
$250,000 to $299,999 2783 364 180 0 2239
$300,000 to $399,999 4123 73 271 336 3443
$400,000 to $499,999 2853 118 295 229 2211
$500,000 to $749,999 4276 297 892 450 2636
$750,000 to $999,999 3145 162 854 59 2070
$1,000,000 to $1,499,999 2446 34 1357 78 977
$1,500,000 to $1,999,999 313 0 61 0 252
$2,000,000 or more 286 53 31 0 202
Not reported 1168 379 0 89 700
Median 190349 136431 681661 117937 174956
Mean 333089 250564 733729 217048 300129

Total Mortgage Outstanding Debt

Less than $50,000
6610 365 401 879 4964
$50,000 to $99,999 8041 903 113 1030 5994
$100,000 to $149,999 7219 803 198 773 5445
$150,000 to $199,999 2541 331 66 54 2090
$200,000 to $249,999 3110 0 264 255 2590
$250,000 to $299,999 3846 364 180 132 3170
$300,000 to $399,999 3390 253 271 336 2529
$400,000 to $499,999 3249 134 295 163 2657
$500,000 to $749,999 5148 333 890 516 3408
$750,000 to $999,999 3065 162 775 59 2070
$1,000,000 to $1,499,999 2712 34 1438 176 1063
$1,500,000 to $1,999,999 388 0 110 0 278
$2,000,000 or more 286 53 31 0 202
Not reported 1127 379 0 89 659
Median 203177 137359 688871 117937 190372
Mean 342097 237403 760479 237054 309609

Current Interest Rate on First Mortgage

Less than 6.0 percent
19499 218 1322 2191 15768
6.0 percent 174 0 0 139 35
6.1 to 6.4 percent 364 82 38 211 33
6.5 to 6.9 percent 2963 410 211 0 2343
7.0 percent 2068 39 0 147 1882
7.1 to 7.4 percent 532 22 144 0 366
7.5 to 7.9 percent 3162 281 439 0 2442
8.0 percent 833 0 139 54 640
8.1 to 8.4 percent 2031 233 249 355 1195
8.5 to 8.9 percent 3627 856 732 186 1853
9.0 percent 1281 34 250 0 996
9.1 to 9.4 percent 818 359 0 0 459
9.5 to 9.9 percent 2367 55 292 327 1692
10.0 percent 389 55 155 91 88
10.1 to 10.4 percent 79 53 0 0 27
10.5 to 10.9 percent 754 0 490 0 264
11.0 percent 581 247 0 0 334
11.1 to 12.9 percent 893 390 320 0 184
13.0 percent 433 0 0 0 433
13.1 percent or more 7881 783 250 762 6085
Not reported 0 0 0 0 0
Median 7.3 9.0 8.5 6.0 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
43 0 0 0 43
Constant payment 43 0 0 0 43
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 715 3770 1363 13299
Not reported 31540 3400 1263 3100 23777

Term of First Mortgage

Less than 5 years
333 0 0 211 122
5 years 1694 55 37 397 1205
6 to 9 years 563 0 0 0 563
10 years 1807 0 183 0 1624
11 to 14 years 569 0 0 0 569
15 years 3148 0 0 186 2962
16 to 19 years 0 0 0 0 0
20 years 1592 0 0 0 1592
21 to 24 years 0 0 0 0 0
25 years 896 0 0 91 805
26 to 29 years 103 103 0 0 0
30 years 8958 3957 114 425 4463
More than 30 years 3931 0 3359 0 572
No stated term 27137 0 1341 3154 22642
Median 30 30 62 15 20

Unexpired Term of First Mortgage

Less than 5 years
2528 70 0 705 1753
5 to 9 years 3323 55 159 277 2832
10 to 14 years 5118 86 142 327 4563
15 to 19 years 1961 513 39 0 1409
20 to 24 years 1217 540 66 0 611
25 to 29 years 4819 2558 149 0 2111
30 or more years 4628 293 3137 0 1197
No stated term or not computed 27137 0 1341 3154 22642
Median 17 27 58 5 13

Holder of First Mortgage

Commercial bank or trust company
12791 1110 229 1313 10138
Savings and loan association, federal
savings bank
5984 302 34 1128 4520
Mutual savings bank 1524 105 67 0 1353
Life insurance company 1545 266 251 136 892
Mortgage banker or mortgage company 597 0 0 0 597
Federally-sponsored secondary market
agency or pool
13566 1892 732 1376 9567
Conventional mortgage pool 95 0 31 0 64
Other federal agency 4974 49 3524 0 1401
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 926 120 33 0 773
Finance company 349 152 0 0 197
State or municipal government or
housing finance agency
2701 34 55 66 2546
Individual or individual's estate 4729 72 0 389 4269
Other 948 15 77 55 802

Servicer of First Mortgage

Commercial bank or trust company
11974 1046 229 1313 9386
Savings and loan association, federal
savings bank
6140 302 34 1128 4676
Mutual savings bank 1524 105 67 0 1353
Life insurance company 1210 0 251 136 824
Mortgage banker or mortgage company 15173 2242 763 1376 10793
Federally-sponsored secondary market
agency or pool
34 0 0 0 34
Conventional mortgage pool 222 0 0 0 222
Other federal agency 4969 43 3524 0 1401
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 932 120 33 0 779
Finance company 349 152 0 0 197
State or municipal government or
housing finance agency
2262 34 55 66 2107
Individual or individual's estate 4729 72 0 389 4269
Other 1211 0 77 55 1079

Holder's Acquisition of First Mortgage

Originated directly from borrower
28394 1058 487 1902 24947
Purchased from present servicer 14286 1266 4212 1728 7079
Purchased from someone else 8051 1791 334 834 5093
Not reported 0 0 0 0 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
36111 2762 4448 3435 25465
Less than 40 percent 1575 0 173 98 1304
40 to 49 percent 1041 69 39 801 132
50 to 59 percent 1124 5 38 47 1034
60 to 69 percent 3962 204 340 272 3146
70 to 79 percent 4016 234 465 513 2805
80 to 89 percent 6124 106 535 161 5322
90 to 94 percent 1183 0 213 296 674
95 to 99 percent 2036 160 704 78 1094
100 percent or more 14144 1605 1940 1170 9429
Not reported 906 379 0 0 527
Median 90 25848 98 80 88
Other properties 14620 1353 585 1028 11654
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 2762 4448 3435 25465
Less than 40 percent 1470 0 222 98 1151
40 to 49 percent 1495 69 75 801 551
50 to 59 percent 1168 0 133 47 988
60 to 69 percent 7638 571 1595 580 4893
70 to 79 percent 6197 234 285 803 4875
80 to 89 percent 6033 106 79 161 5687
90 to 94 percent 1481 0 440 296 745
95 to 99 percent 1841 120 1288 78 355
100 percent or more 7881 1284 331 571 5695
Not reported 906 379 0 0 527
Median 79 811 77 72 80
Other properties 14620 1353 585 1028 11654
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
2088 188 81 173 1645
Not subprime loan 48643 3927 4951 4290 35474
Not reported 0 0 0 0 0

Total Mortgage Loan as a Percent of
Purchase Price

Properties acquired by purchase
with first mortgage made or
assumed at time of purchase
36111 2762 4448 3435 25465
Less than 40 percent 1368 0 173 0 1195
40 to 49 percent 1057 69 39 899 50
50 to 59 percent 936 5 38 47 845
60 to 69 percent 3939 152 259 272 3257
70 to 79 percent 3716 232 433 513 2539
80 to 89 percent 5242 106 469 29 4638
90 to 94 percent 1080 0 109 296 675
95 to 99 percent 2305 214 797 78 1215
100 percent or more 15563 1605 2130 1302 10525
Not reported 906 379 0 0 527
Median 96 25848 99 80 90
Other properties 14620 1353 585 1028 11654
Not available 0 0 0 0 0

Total Mortgage Loan as Percent
of Value

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
36111 2762 4448 3435 25465
Less than 40 percent 5392 82 514 1045 3752
40 to 49 percent 2095 427 236 420 1012
50 to 59 percent 3861 499 102 332 2927
60 to 69 percent 6285 133 273 300 5579
70 to 79 percent 4269 482 240 805 2742
80 to 89 percent 4258 176 748 270 3065
90 to 94 percent 2119 199 281 78 1561
95 to 99 percent 1904 39 640 121 1104
100 percent or more 5021 346 1414 64 3198
Not reported 906 379 0 0 527
Median 70 71 92 58 69
Other properties 14620 1353 585 1028 11654
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
4368 55 329 940 3045
20 to 29 percent 2892 150 135 544 2063
30 to 39 percent 4880 374 202 769 3535
40 to 49 percent 7637 521 523 519 6073
50 to 59 percent 6106 505 186 547 4868
60 to 69 percent 7345 336 454 449 6106
70 to 79 percent 4505 313 613 0 3579
80 to 89 percent 3839 0 686 203 2950
90 to 99 percent 5919 1418 893 339 3268
100 percent or more 2113 64 1012 64 973
Not reported or not computed 1127 379 0 89 659
Median 58 68 81 39 57

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
9757 301 544 1022 7889
Treasury security 2233 0 0 0 2233
Average cost of funds in bank district 309 0 0 0 309
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 1408 55 0 42 1311
No index used 118 0 0 0 118
Not reported 5689 246 544 981 3919
Other properties 40974 3814 4489 3441 29230
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
9757 301 544 1022 7889
Monthly 142 0 0 0 142
Every 3 months 0 0 0 0 0
Every 6 months 101 0 0 0 101
Yearly 3010 0 0 42 2968
Every 3 years 17 0 0 0 17
Every 5 years 277 0 0 0 277
Other 435 55 0 0 380
Not reported 5774 246 544 981 4004
Other properties 40974 3814 4489 3441 29230
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
9757 301 544 1022 7889
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 0 135
2 percent 1821 0 0 0 1821
2.1 to 2.9 percent 10 0 0 0 10
3 percent 128 0 0 0 128
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 284 0 0 0 284
No caps 1594 55 0 42 1497
Not reported 5784 246 544 981 4013
Other properties 40974 3814 4489 3441 29230
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
9757 301 544 1022 7889
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 0 1928
No caps 1971 55 0 42 1874
Not reported 5857 246 544 981 4087
Other properties 40974 3814 4489 3441 29230
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
9757 301 544 1022 7889
Yes, rate has changed 3040 0 0 42 2998
No change since mortgage made 1080 55 0 0 1025
Not reported 5636 246 544 981 3866
Other properties 40974 3814 4489 3441 29230
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 0 40
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 0 40
Not reported 0 0 0 0 0
Monthly payments cannot
change
44567 3814 4489 3483 32781
Not reported 6124 301 544 981 4298

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
40 0 0 0 40
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 0 40
Not reported 0 0 0 0 0
Monthly payments cannot change 44567 3814 4489 3483 32781
Not reported 6124 301 544 981 4298

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
45862 3731 4782 4463 32886
Interest and principal 45808 3731 4782 4463 32832
Fully amortized 35692 3255 1465 4198 26773
Not fully amortized 10116 476 3316 265 6059
Interest only 54 0 0 0 54
No regular payments required 708 0 0 0 708
Not reported 4161 384 251 0 3525

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
45808 3731 4782 4463 32832
Real estate taxes 7552 996 183 327 6045
Property insurance 5297 996 152 327 3821
Mortgage insurance 1324 996 0 327 0
Other 3594 933 183 327 2150
No items included or not reported 37972 2735 4598 4136 26503
No regular payments of interest
and principal
4923 384 251 0 4287

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
50022 4116 5033 4463 36411
Less than $100 10330 509 1711 475 7636
$100 to $199 13016 1311 1054 1360 9291
$200 to $299 11319 1343 1611 1224 7142
$300 to $399 3619 271 183 212 2953
$400 to $499 2068 0 61 47 1959
$500 to $599 978 31 35 699 213
$600 to $699 164 0 0 0 164
$700 to $799 746 0 0 0 746
$800 to $899 726 0 0 0 726
$900 to $999 31 0 31 0 0
$1,000 to $1,249 313 0 26 162 125
$1,250 to $1,499 93 0 0 0 93
$1,500 or more 2459 266 70 284 1839
Not reported 4161 384 251 0 3525
Median 197 203 165 232 195
Mean 862 299 204 386 1085
No regular payments required 708 0 0 0 708

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
50022 4116 5033 4463 36411
Up-to-date, ahead of schedule, or
less than 90 days past due
19863 1052 3477 1363 13972
Delinquent by 90 days or more 481 0 0 0 481
Legal proceedings have begun 481 0 0 0 481
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 29678 3064 1556 3100 21958
Other properties 708 0 0 0 708

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
50022 4116 5033 4463 36411
Less than $100 14006 893 1870 475 10768
$100 to $199 12653 1165 1065 1162 9261
$200 to $299 11833 1256 1591 1422 7565
$300 to $399 3953 504 284 212 2953
$400 to $499 1840 0 61 47 1732
$500 to $599 978 31 35 699 213
$600 to $699 392 0 0 0 392
$700 to $799 746 0 0 0 746
$800 to $899 726 0 0 0 726
$900 to $999 31 0 31 0 0
$1,000 to $1,249 313 0 26 162 125
$1,250 to $1,499 93 0 0 0 93
$1,500 or more 2459 266 70 284 1839
Not reported 0 0 0 0 0
Median 187 200 161 242 180
Mean 794 278 200 389 985
No regular payments required 708 0 0 0 708

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

Acquired before 2000 and
regular payments of interest
and/or princi
40798 3416 4639 4463 28281
Less than 20 percent 3142 15 508 158 2461
20 to 29 percent 3799 42 1220 470 2068
30 to 39 percent 3890 700 236 331 2623
40 to 49 percent 5111 418 424 323 3947
50 to 59 percent 3623 69 340 162 3053
60 to 69 percent 4888 62 328 250 4248
70 to 79 percent 2381 0 305 546 1531
80 to 89 percent 2264 479 391 134 1259
90 to 99 percent 1014 233 252 47 481
100 percent or more 10400 1399 635 2044 6323
Not reported or not computed 287 0 0 0 287
Median 61 88 48 80 59
Other properties 9933 700 394 0 8838

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

Acquired before 2000 and regular
payments of interest and/or
principal
40798 3416 4639 4463 28281
Less than 20 percent 2980 15 378 158 2429
20 to 29 percent 3748 42 1258 470 1978
30 to 39 percent 3505 592 212 331 2370
40 to 49 percent 5071 416 425 257 3974
50 to 59 percent 3671 124 373 162 3013
60 to 69 percent 5005 117 409 316 4163
70 to 79 percent 2237 0 305 414 1519
80 to 89 percent 2447 479 391 134 1442
90 to 99 percent 1140 0 252 179 708
100 percent or more 10707 1631 635 2044 6398
Not reported or not computed 287 0 0 0 287
Median 63 88 51 89 61
Other properties 9933 700 394 0 8838

Real Estate Tax Per Housing Unit

Acquired before 2000
45050 3800 4890 4463 31897
Less than $100 5495 437 404 848 3807
$100 to $199 5972 471 895 742 3864
$200 to $299 8462 658 1051 351 6401
$300 to $399 5871 384 867 867 3753
$400 to $499 4236 997 462 597 2180
$500 to $599 2615 114 280 416 1805
$600 to $699 1439 39 291 147 962
$700 to $799 2718 0 113 211 2394
$800 to $899 979 0 159 0 820
$900 to $999 296 0 126 0 170
$1,000 to $1,249 1596 55 0 0 1541
$1,250 to $1,499 1763 0 96 0 1667
$1,500 to $1,999 610 266 43 0 301
$2,000 to $2,499 364 0 70 0 294
$2,500 or more 1658 0 31 284 1343
Not reported 974 379 0 0 595
Median 336 338 311 333 342
Mean 556 401 440 520 597
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Real Estate Tax Per $1,000 Value

Acquired before 2000
45050 3800 4890 4463 31897
Less than $5 8299 537 510 1140 6113
$5 to $9 9040 435 1441 1575 5590
$10 to $14 9680 648 761 388 7883
$15 to $19 6196 65 842 373 4916
$20 to $24 3811 438 547 541 2285
$25 to $29 2295 0 211 0 2084
$30 to $39 4754 1299 578 446 2431
$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 974 379 0 0 595
Median 12 20 13 8 13
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
45050 3800 4890 4463 31897
Less than 5 percent 6896 798 886 548 4665
5 to 9 percent 17613 879 1418 2119 13197
10 to 14 percent 8380 322 1517 1047 5494
15 to 19 percent 4755 5 646 0 4104
20 to 24 percent 962 0 25 358 579
25 to 29 percent 1077 55 0 0 1022
30 to 34 percent 1634 365 147 282 839
35 to 39 percent 562 346 0 54 162
40 percent or more 1911 652 251 55 953
Not reported or not computed 1261 379 0 0 882
Median 9 11 10 9 9
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Property Management

Property managed by paid property
management company
21961 2100 4001 1925 13935
Property not managed by paid property
management company
22109 1389 960 2211 17549
Not reported 6661 627 71 327 5635

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
45050 3800 4890 4463 31897
Less than $100 795 421 309 0 66
$100 to $199 1840 55 38 410 1336
$200 to $299 2564 47 300 78 2139
$300 to $399 1402 247 470 133 553
$400 to $499 1543 39 249 89 1165
$500 to $599 1272 0 303 117 851
$600 to $699 2463 142 504 47 1770
$700 to $799 1102 0 563 159 380
$800 to $899 883 0 405 47 430
$900 to $999 488 64 133 147 144
$1,000 to $1,249 959 31 678 64 186
$1,250 to $1,499 274 34 113 0 127
$1,500 to $1,999 569 69 104 0 396
$2,000 to $2,499 403 0 0 0 403
$2,500 or more 2738 266 101 446 1925
No expenses 15279 638 381 1706 12554
Not reported or not computed 10476 1746 237 1021 7472
Median 609 375 692 688 580
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
45050 3800 4890 4463 31897
Less than $100 1890 365 0 59 1466
$100 to $199 3170 120 104 166 2780
$200 to $299 2695 91 588 266 1750
$300 to $399 4070 53 404 667 2945
$400 to $499 2539 98 566 444 1431
$500 to $599 1938 31 480 97 1330
$600 to $699 2107 262 497 186 1162
$700 to $799 3505 266 190 0 3048
$800 to $899 980 39 146 0 794
$900 to $999 1695 0 568 0 1127
$1,000 to $1,249 2033 120 331 287 1296
$1,250 to $1,499 1500 178 269 393 661
$1,500 to $1,999 658 0 196 0 462
$2,000 to $2,499 268 0 62 42 165
$2,500 or more 3201 99 101 284 2717
No expenses 761 0 113 0 649
Not reported or not computed 12039 2077 274 1573 8115
Median 591 639 622 465 590
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
45050 3800 4890 4463 31897
Less than $250 7288 47 1335 866 5040
$250 to $499 9376 819 1593 1107 5858
$500 to $749 4259 129 908 117 3105
$750 to $999 1400 139 224 317 721
$1,000 to $1,249 2253 31 55 0 2166
$1,250 to $1,499 549 0 0 60 489
$1,500 to $1,749 375 39 35 183 118
$1,750 to $1,999 588 266 0 0 321
$2,000 to $2,499 372 0 31 162 179
$2,500 or more 1618 0 70 284 1264
No expenses 5879 831 362 47 4638
Not reported or not computed 11093 1499 276 1320 7998
Median 430 460 374 404 446
Acquired 2000 and 2001 (part) 5681 316 143 0 5223

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