U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - West
Table 6-3e. 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
99256 5693 6000 8592 78971

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
88918 4730 4756 7810 71622
In central cities 53779 2755 3246 4550 43229
Not in central cities 35139 1975 1511 3260 28393
Outside MAs 10338 963 1244 782 7350

Number of Housing Units

5 to 9 housing units
48864 2863 1632 4027 40342
10 to 19 housing units 25783 1222 1957 2660 19944
20 to 29 housing units 12829 760 839 957 10273
30 to 39 housing units 6835 402 855 538 5040
40 to 49 housing units 4945 445 716 410 3373

Manner of Acquisition

By purchase
89208 5104 5903 7936 70266
Placed one new mortgage 71854 3723 4846 6319 56967
Placed two or more new mortgages 5759 506 501 157 4594
Assumed mortgage(s) already on property 7474 730 155 1408 5182
Assumed mortgage(s) already on property
and placed new mortgage
2127 0 112 0 2014
Borrowed using assets other than this
property as collateral
549 0 0 0 549
Paid all cash-no borrowing 1070 145 238 0 687
Other manner 376 0 51 52 273
By inheritance or gift 918 0 0 246 672
By divorce 187 0 0 0 187
By tax free exchange of
other property
2820 42 54 61 2663
By foreclosure or assignment 322 0 0 72 250
By some other manner 941 41 43 67 790
Not reported 4860 506 0 210 4143

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
40651 1558 2046 4315 32732
Sale of stock or other partnership
shares for this project
1443 57 76 87 1223
Sale of previously owned stocks,
shares, or other securities
1280 0 0 252 1028
Sale of land or other real estate 8109 66 142 1515 6387
Owner's cash, bank deposits,
share accounts, or bonds
21660 1303 792 1654 17911
Borrowing from a retirement plan 1330 0 0 112 1218
Borrowing using assets other than this
property as collateral
2679 50 336 0 2293
Proceeds from an insurance policy 362 0 0 0 362
From a state or local government source 515 0 62 0 453
From a non-profit organization 98 28 0 0 70
Proceeds from sale of tax credits 101 0 0 0 101
From parents or relatives 775 0 9 112 654
Other cash source 810 0 76 0 734
Non-cash source 194 0 37 0 157
No downpayment required 1522 111 464 130 818
Not reported 4826 0 247 677 3902
Other properties 55460 3837 3954 4176 43493
Not reported 3145 298 0 101 2746

Year Property Acquired

1999 to 2001 (part)
23597 744 1212 3215 18425
1997 and 1998 14228 641 389 769 12429
1995 and 1996 7927 514 499 810 6104
1990 to 1994 15883 1076 1796 625 12386
1985 to 1989 16383 1232 1032 977 13143
1980 to 1984 6402 376 146 439 5441
1975 to 1979 7591 584 636 1060 5311
1970 to 1974 4900 130 258 574 3938
1969 or earlier 2346 397 32 123 1794

Building and Land Acquisition

Acquired at same time
86667 4702 5102 7783 69080
Not acquired at same time 8001 426 829 505 6242
Land not owned by building owner 736 0 0 60 676
Not reported 3852 566 69 244 2974

Property New or Previously Owned When
Acquired

Acquired by purchase
89208 5104 5903 7936 70266
New 11735 623 1706 1046 8360
Previously owned 76693 4424 3970 6890 61408
As residential property 73325 4306 3970 6765 58283
Converted from nonresidential use 3368 118 0 125 3125
Other 480 57 226 0 197
Not reported 300 0 0 0 300
Other properties 5189 83 97 446 4562
Not reported 4860 506 0 210 4143

Year Structure Built

1999 to March 2000
5797 298 186 354 4959
1997 and 1998 2288 65 179 72 1972
1995 and 1996 1259 0 0 32 1226
1990 to 1994 3954 348 511 143 2951
1980 to 1989 13154 524 1458 686 10486
1970 to 1979 14604 1119 1190 1564 10731
1960 to 1969 22835 1789 1238 2520 17288
1950 to 1959 12313 243 364 1030 10677
1940 to 1949 5208 378 53 442 4336
1939 or earlier 17843 930 821 1749 14344

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
33228 1044 1547 3751 26886
Less than $20,000 2974 90 0 163 2721
$20,000 to $39,999 8291 470 315 1004 6502
$40,000 to $59,999 9907 150 428 1325 8004
$60,000 to $79,999 3923 9 303 349 3262
$80,000 to $99,999 3303 325 361 363 2254
$100,000 to $124,999 2585 0 140 211 2234
$125,000 to $149,999 447 0 0 0 447
$150,000 to $174,999 337 0 0 337 0
$175,000 to $199,999 327 0 0 0 327
$200,000 to $249,999 239 0 0 0 239
$250,000 to $299,999 265 0 0 0 265
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 457 0 0 0 457
Median 50625 38388 62053 50701 50327
Mean 65045 49910 61559 63911 65998
Other properties 66029 4649 4453 4841 52086

Value

Less than $100,000
911 0 0 250 661
$100,000 to $199,999 5031 505 185 190 4151
$200,000 to $299,999 7794 129 244 179 7241
$300,000 to $399,999 8448 608 827 547 6466
$400,000 to $499,999 12301 662 294 2419 8927
$500,000 to $749,999 20011 1018 1230 1120 16642
$750,000 to $999,999 11297 751 900 844 8802
$1,000,000 to $1,499,999 14326 1023 903 1532 10868
$1,500,000 to $1,999,999 7478 299 795 685 5700
$2,000,000 to $2,999,999 5878 483 187 400 4808
$3,000,000 to $3,999,999 2673 159 103 319 2094
$4,000,000 to $4,999,999 1204 0 91 34 1079
$5,000,000 or more 1904 57 240 74 1533
Median 689175 731338 810909 658613 680860
Mean 1041480 1038284 1286425 957257 1032263

Value Per Housing Unit@8

Less than $20,000
5098 129 368 612 3990
$20,000 to $39,999 18822 1435 1451 731 15205
$40,000 to $59,999 23470 1004 1881 1623 18962
$60,000 to $79,999 18546 1610 902 3048 12985
$80,000 to $99,999 11799 700 501 828 9771
$100,000 to $124,999 7777 419 258 763 6337
$125,000 to $149,999 3521 249 308 312 2652
$150,000 to $174,999 2542 0 119 0 2423
$175,000 to $199,999 2153 0 120 74 1959
$200,000 to $249,999 3186 92 27 501 2566
$250,000 to $299,999 96 0 0 0 96
$300,000 to $499,999 917 57 0 101 759
$500,000 or more 1329 0 65 0 1264
Median 62414 63474 52557 68730 62045
Mean 80657 67146 67035 77006 83063

Purchase Price as Percent of Value@8

Acquired by purchase
89208 5104 5903 7936 70266
Purchased 1997 to 2001 (part) 33228 1044 1547 3751 26886
Less than 60 percent 5102 311 104 644 4042
60 to 69 percent 2761 98 0 1009 1654
70 to 79 percent 5633 93 0 321 5218
80 to 99 percent 8814 252 719 1201 6641
100 percent or more 10746 290 724 574 9158
Median 87 82 99 77 87
Purchased 1990 to 1996 (part) 21631 1397 2252 1122 16859
Less than 40 percent 2076 249 209 103 1515
40 to 59 percent 4731 156 364 225 3986
60 to 79 percent 6298 137 640 278 5243
80 to 99 percent 3898 534 141 479 2744
100 percent or more 4627 322 898 37 3370
Median 73 86 77 77 71
Purchased 1989 or earlier 34350 2662 2104 3063 26521
Less than 20 percent 4910 303 27 382 4199
20 to 39 percent 7353 583 454 778 5538
40 to 59 percent 6627 644 390 541 5052
60 to 79 percent 4614 344 267 113 3890
80 to 99 percent 2951 162 187 124 2477
100 percent or more 7622 627 778 1125 5092
Median 54 54 74 54 53
Not acquired by purchase 10048 590 97 656 8706

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
48556 2898 3183 3793 38683
Less than $5,000 10668 578 684 650 8756
$5,000 to $9,999 8214 607 258 1414 5935
$10,000 to $24,999 15295 840 1094 1161 12201
$25,000 to $49,999 8678 557 853 111 7158
$50,000 to $74,999 2038 0 52 335 1651
$75,000 to $99,999 527 82 0 38 407
$100,000 to $149,999 1504 105 150 85 1164
$150,000 to $199,999 618 29 27 0 562
$200,000 to $299,999 303 42 28 0 233
$300,000 or more 711 57 38 0 617
Median 15292 14710 18909 9409 15717
Mean 34224 28622 48007 16244 35272
Properties with no capital
improvements between 1998 and 2000
31275 1716 2021 3000 24538
Capital improvements not
reported
19425 1080 796 1799 15750

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
48556 2898 3183 3793 38683
Less than $500 11914 374 1092 688 9759
$500 to $999 11995 1139 558 1868 8430
$1,000 to $2,499 14520 953 929 996 11643
$2,500 to $4,999 6097 333 566 77 5122
$5,000 to $7,499 2092 42 0 164 1886
$7,500 to $9,999 314 0 0 0 314
$10,000 to $14,999 386 57 0 0 329
$15,000 to $19,999 923 0 0 0 923
$20,000 to $29,999 0 0 0 0 0
$30,000 or more 315 0 38 0 277
Median 1038 972 947 823 1149
Mean 2618 1364 1915 1092 2919
Properties with no capital
improvements between 1998 and 2000
31275 1716 2021 3000 24538
Capital improvements not
reported
19425 1080 796 1799 15750

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
82740 5172 5231 6278 66059
Less than $100 2264 39 169 125 1932
$100 to $199 6403 455 266 202 5480
$200 to $299 9078 493 771 1327 6486
$300 to $399 9741 1007 539 417 7778
$400 to $499 10099 502 465 1196 7936
$500 to $599 12479 1806 1283 768 8622
$600 to $799 9300 373 371 448 8108
$800 to $999 12438 376 632 1087 10343
$1000 or more 10665 122 735 708 9100
No rental receipts 273 0 0 0 273
Median 529 505 532 489 538
Mean 1617 491 618 10314 958
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Rental Receipts as Percent of Value@8

Acquired before 2000
82740 5172 5231 6278 66059
Less than 5 percent 2706 57 220 708 1721
5 to 9 percent 32488 2296 1697 2584 25911
10 to 14 percent 30202 2490 1646 1688 24379
15 to 19 percent 10323 113 1021 676 8513
20 to 24 percent 1451 90 112 99 1150
25 to 29 percent 1691 90 128 36 1437
30 to 39 percent 1067 36 376 0 655
40 percent or more 2539 0 32 487 2020
Median 11 10 12 10 11
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
82740 5172 5231 6278 66059
Less than 1.0 percent 13592 388 856 1410 10939
1.0 to 2.9 percent 14935 754 1497 1311 11374
3.0 to 4.9 percent 12151 796 677 850 9827
5.0 to 6.9 percent 4266 219 122 312 3613
7.0 to 8.9 percent 5294 1251 279 101 3663
9.0 to 10.9 percent 3383 8 389 105 2882
11.0 to 12.9 percent 1672 212 31 190 1239
13.0 to 14.9 percent 1123 0 0 0 1123
15.0 percent or more 5564 57 90 461 4956
Not reported or not computed 20758 1488 1289 1539 16441
Median 3.4 4.8 2.5 2.5 3.5
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Age Restrictions

Property restricted to people
age 55 or older
20315 535 538 544 18698
Property not restricted to people
age 55 or older
76628 4859 5462 7947 58360
Not reported 2313 298 0 101 1913

Age Composition

Over one-half the residents of the
building age 55 or older
2589 65 154 758 1613
Over one-half the residents of the
building not age 55 or older
71094 4795 5308 6392 54600
Not reported 25573 834 538 1442 22759

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

Property provides meal service
11268 284 99 0 10885
Charge included in rent 8655 89 0 0 8566
Charge not included in rent 0 0 0 0 0
Not reported 2613 195 99 0 2319
Property does not provide meal
service
6119 135 371 1714 3899
Not reported 81870 5274 5530 6878 64188

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
3445 96 602 472 2276
Government rental subsidy 12323 853 946 811 9712
Government grant 900 0 62 0 838
Property tax relief 1521 0 36 36 1449
Federal income tax credit for
low-income, old or historic properties
1167 0 291 14 862
Accelerated federal income tax
depreciation for low- and
moderate-income properties
77 0 43 0 34
Subsidy from a non-profit corporation 194 0 0 52 142
None of the above benefits 72217 4333 3451 6831 57603
Not reported 11265 466 1177 412 9210

Source of Property Benefits@1

With property benefits
15773 894 1372 1348 12159
Federal government 10052 672 1230 1052 7097
State government 2173 169 99 39 1866
Local government 5543 54 292 735 4462
Non-profit corporation 194 0 0 52 142
Not reported 505 0 0 0 505
With no property benefits 72217 4333 3451 6831 57603
Not reported 11265 466 1177 412 9210

Reason for Benefits@1

With property benefits
15773 894 1372 1348 12159
Occupied by low- or moderate-income
individuals
12853 841 1299 497 10215
Occupied by elderly or disabled
individuals
3690 172 535 222 2761
A historic structure 86 0 0 0 86
Located in a community development or
economic development area
763 0 82 0 681
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 486 0 0 439 47
Other reason 154 0 0 67 87
Not reported 1178 54 73 344 707
With no property benefits 72217 4333 3451 6831 57603
Not reported 11265 466 1177 412 9210

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
38929 2596 3286 4056 28992
Property has never had tenants
receiving Section 8 assistance
50396 2536 2191 3938 41731
Not reported 9931 561 524 598 8249

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
68837 3473 3550 6465 55348
Limited partnership 10824 1210 1438 285 7891
Joint venture 713 194 0 0 519
General partnership 6495 123 397 377 5598
Life insurance company 113 0 0 0 113
Depository institution 83 0 43 0 40
Public real estate investment trust 204 0 34 112 58
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
6965 515 425 855 5170
Housing cooperative organization 168 168 0 0 0
Non-profit or church-related institution 2312 11 73 406 1823
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 2542 0 40 91 2411

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
88228 4630 5562 7406 70630
2 mortgages 9106 1006 400 932 6767
3 or more mortgages 1923 58 38 253 1574

Form of Debt of First Mortgage

Mortgage or deed of trust
99256 5693 6000 8592 78971
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
90 0 0 0 90
By telephone or FAX 10143 198 509 935 8500
By regular mail 9365 1515 886 523 6440
By personal visit 41450 1511 2459 4127 33354
Through third party (such as real
estate agent or builder)
22449 1088 1500 1671 18191
Some other way 2465 141 94 283 1948
Not reported 9794 787 437 329 8241
Not available 3500 454 115 724 2208

Origin of First Mortgage

Mortgage made at time property acquired
70009 3523 4357 5905 56224
Mortgage assumed at the time property
acquired
7761 714 162 1120 5765
Mortgage placed later than acquisition of
property
21487 1457 1482 1566 16982
Refinanced mortgage 19896 1341 1271 1472 15813
Same lender 4647 79 294 409 3864
Different lender 15250 1262 977 1062 11949
Mortgage placed on property
owned free and clear of debt
1591 116 210 95 1169
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
21487 1457 1482 1566 16982
Obtain lower interest rate 8010 717 730 329 6234
Increase payment period for mortgage 97 0 0 0 97
Reduce payment period for mortgage 232 40 0 0 191
Renew or extend loan that had fallen
due, without increasing outstanding
balance
1236 0 69 0 1167
Receive cash or increase outstanding
balance of loan
9713 209 591 1131 7782
Other reason 1269 0 91 5 1174
Not reported 929 490 0 102 337
Other properties 77769 4236 4519 7025 61989
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
13791 976 852 1275 10688
Less than $100,000 4791 211 224 144 4213
$100,000 to $199,999 3294 669 285 439 1901
$200,000 to $299,999 1815 0 198 36 1581
$300,000 to $399,999 1780 0 64 515 1200
$400,000 to $499,999 747 40 0 51 656
$500,000 to $749,999 697 0 53 31 613
$750,000 to $999,999 244 57 0 28 159
$1,000,000 to $1,499,999 214 0 27 31 155
$1,500,000 to $1,999,999 59 0 0 0 59
$2,000,000 to $2,999,999 150 0 0 0 150
$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 0 0 0 0 0
Not reported 0 0 0 0 0
Median 163895 141508 170885 303677 159509
Mean 226754 165357 185242 255345 232258
Properties that refinanced
and did not receive cash back
5922 450 67 74 5331
Properties that refinanced
and did not report if received
cash back
1773 31 563 217 963
Properties that did not
refinance
77769 4236 4519 7025 61989
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
13791 976 852 1275 10688
For additions, improvements or repairs
to this property
5250 190 247 930 3883
To consolidate debts 2104 0 224 433 1447
For investment in other real estate 5859 670 462 195 4532
For other types of investments 1190 0 0 113 1077
For educational or medical expenses 537 0 0 0 537
To start a business 100 0 0 31 69
To settle a divorce 794 0 0 0 794
To pay taxes 593 0 0 51 542
To purchase an automobile, truck, or
other vehicle
118 0 0 0 118
To purchase consumer product other than
automobile, truck, or other vehicle
260 0 0 0 260
Other 802 157 0 36 610
Not reported 128 0 128 0 0
Properties that refinanced
and did not receive cash back
5922 450 67 74 5331
Properties that refinanced
and did not report if received
cash back
1773 31 563 217 963
Properties that did not
refinance
77769 4236 4519 7025 61989
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
9595 998 336 1186 7074
Provide funds for the purchase of this
property
4313 386 47 656 3224
Provide funds for additions,
improvements or repairs to this
property
1996 154 155 253 1433
Provide funds for consolidation of debts 347 0 0 0 347
Provide funds for investment in other
real estate
808 0 0 224 584
Provide funds for other types of
investments
10 0 10 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 835 197 0 9 629
Not reported 1286 261 124 44 857
Other properties 89662 4695 5664 7406 71897

Purpose of Line of Credit

Properties with second
mortgage or line of credit
2397 65 102 253 1977
Provide funds for additions,
improvements or repairs to this
property
771 0 0 0 771
Provide funds for consolidation of debts 108 0 0 0 108
Provide funds for investment in other
real estate
230 0 48 0 182
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
219 0 0 0 219
Provide funds to purchase another type
of consumer product
0 0 0 0 0
Other reasons 276 65 0 0 211
Not reported 794 0 54 253 487
Other properties 96859 5628 5898 8338 76994

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
31904 1360 1878 3358 25309
1997 and 1998 19485 897 327 1547 16715
1995 and 1996 9678 600 423 874 7781
1990 to 1994 18431 1161 2241 941 14088
1985 to 1989 12770 1255 669 563 10282
1980 to 1984 1193 173 95 0 925
1979 or earlier 5795 247 367 1309 3872

Traditional First Mortgage Loan

Less than $50,000
2612 187 0 538 1887
$50,000 to $99,999 2832 211 222 0 2400
$100,000 to $149,999 8049 965 66 67 6951
$150,000 to $199,999 10843 145 793 1586 8320
$200,000 to $249,999 8681 1123 53 700 6806
$250,000 to $299,999 8709 310 581 1258 6560
$300,000 to $399,999 10705 361 272 1349 8723
$400,000 to $499,999 9838 582 954 391 7910
$500,000 to $749,999 17303 459 703 1321 14821
$750,000 to $999,999 6078 616 887 527 4048
$1,000,000 to $1,499,999 5980 346 762 502 4370
$1,500,000 to $1,999,999 2513 120 314 102 1977
$2,000,000 or more 1636 21 153 149 1313
Not reported 3478 249 242 101 2886
Median 345838 255312 477148 303385 347346
Mean 488238 428172 680402 458370 481326

Total Mortgage Loan

Less than $50,000
2612 187 0 538 1887
$50,000 to $99,999 2797 211 186 0 2400
$100,000 to $149,999 6679 965 66 67 5581
$150,000 to $199,999 10668 145 828 1586 8109
$200,000 to $249,999 8034 1123 53 296 6563
$250,000 to $299,999 8587 310 581 1444 6252
$300,000 to $399,999 10930 229 272 1567 8861
$400,000 to $499,999 9232 552 903 391 7386
$500,000 to $749,999 18812 436 693 1321 16361
$750,000 to $999,999 6708 708 939 518 4543
$1,000,000 to $1,499,999 5753 381 689 468 4215
$1,500,000 to $1,999,999 3055 178 358 102 2417
$2,000,000 or more 1914 21 191 193 1510
Not reported 3478 249 242 101 2886
Median 363916 250653 479114 316809 368183
Mean 515801 458013 702979 473384 510504

Traditional First Mortgage Outstanding
Debt

Less than $50,000
4373 187 96 1261 2829
$50,000 to $99,999 7091 677 287 101 6025
$100,000 to $149,999 11828 649 608 940 9631
$150,000 to $199,999 9733 1022 479 520 7712
$200,000 to $249,999 9131 455 0 737 7938
$250,000 to $299,999 6723 308 287 843 5285
$300,000 to $399,999 11103 620 864 1233 8386
$400,000 to $499,999 10349 211 722 666 8750
$500,000 to $749,999 12728 481 859 1173 10215
$750,000 to $999,999 4860 554 502 550 3254
$1,000,000 to $1,499,999 4883 170 804 283 3626
$1,500,000 to $1,999,999 1699 104 105 66 1424
$2,000,000 or more 1280 9 145 115 1011
Not reported 3478 249 242 101 2886
Median 286333 214920 428464 288664 280235
Mean 422716 369894 591672 396895 416590

Total Mortgage Outstanding Debt

Less than $50,000
4050 187 96 1044 2725
$50,000 to $99,999 6310 677 252 319 5062
$100,000 to $149,999 11741 614 608 940 9578
$150,000 to $199,999 9483 1022 514 520 7426
$200,000 to $249,999 8252 455 0 551 7246
$250,000 to $299,999 7426 308 287 1029 5802
$300,000 to $399,999 10039 196 864 1233 7745
$400,000 to $499,999 10977 369 670 666 9271
$500,000 to $749,999 13819 652 850 1173 11144
$750,000 to $999,999 5033 624 564 541 3304
$1,000,000 to $1,499,999 4978 227 804 249 3698
$1,500,000 to $1,999,999 2178 104 67 110 1897
$2,000,000 or more 1493 9 182 115 1186
Not reported 3478 249 242 101 2886
Median 296892 218731 433469 289658 293580
Mean 431645 379324 587889 405870 426350

Current Interest Rate on First Mortgage

Less than 6.0 percent
43188 1558 2042 4343 35244
6.0 percent 1058 298 0 0 759
6.1 to 6.4 percent 3540 29 0 0 3511
6.5 to 6.9 percent 5838 9 814 0 5015
7.0 percent 7256 16 173 325 6742
7.1 to 7.4 percent 4047 217 491 482 2857
7.5 to 7.9 percent 3566 324 10 164 3068
8.0 percent 2469 0 349 33 2087
8.1 to 8.4 percent 2049 120 190 0 1738
8.5 to 8.9 percent 5012 1093 163 0 3756
9.0 percent 1305 180 356 34 736
9.1 to 9.4 percent 1047 99 0 0 948
9.5 to 9.9 percent 964 12 40 0 912
10.0 percent 730 0 0 0 730
10.1 to 10.4 percent 234 234 0 0 0
10.5 to 10.9 percent 285 0 0 0 285
11.0 percent 1222 0 53 260 909
11.1 to 12.9 percent 1361 1028 87 186 60
13.0 percent 273 0 0 0 273
13.1 percent or more 13814 475 1232 2765 9342
Not reported 0 0 0 0 0
Median 6.7 8.6 7.1 5.9 6.5

Type of Interest Rate Buydown

Properties with interest rate
buydown
223 0 167 0 55
Constant payment 55 0 0 0 55
3-2-1 buydown 0 0 0 0 0
Other 167 0 167 0 0
Not reported 0 0 0 0 0
Properties without interest
rate buydown
34866 494 2420 410 31543
Not reported 64167 5199 3413 8182 47373

Term of First Mortgage

Less than 5 years
670 0 0 186 484
5 years 2234 0 0 0 2234
6 to 9 years 746 459 5 0 282
10 years 3484 0 27 72 3384
11 to 14 years 32 0 0 0 32
15 years 4432 0 415 0 4017
16 to 19 years 0 0 0 0 0
20 years 1541 0 185 0 1356
21 to 24 years 0 0 0 0 0
25 years 604 0 38 0 565
26 to 29 years 89 0 0 0 89
30 years 31428 5047 795 672 24913
More than 30 years 1617 187 1080 0 350
No stated term 52379 0 3453 7661 41265
Median 30 30 31 30 30

Unexpired Term of First Mortgage

Less than 5 years
2209 35 5 186 1982
5 to 9 years 7724 726 443 133 6422
10 to 14 years 2880 545 0 5 2331
15 to 19 years 8048 859 636 125 6428
20 to 24 years 8759 1319 315 0 7125
25 to 29 years 13267 2080 417 482 10288
30 or more years 3990 129 732 0 3129
No stated term or not computed 52379 0 3453 7661 41265
Median 21 23 23 25 21

Holder of First Mortgage

Commercial bank or trust company
18622 1660 976 2436 13550
Savings and loan association, federal
savings bank
23670 509 1526 1584 20051
Mutual savings bank 1941 92 0 144 1706
Life insurance company 2417 54 0 38 2325
Mortgage banker or mortgage company 6691 0 0 44 6648
Federally-sponsored secondary market
agency or pool
27396 2335 1865 3954 19242
Conventional mortgage pool 64 0 0 0 64
Other federal agency 2200 380 1009 0 810
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 186 0 40 0 145
Credit union 1819 97 62 34 1626
Finance company 855 0 30 0 825
State or municipal government or
housing finance agency
3813 271 307 32 3203
Individual or individual's estate 5780 0 185 326 5269
Other 3804 296 0 0 3508

Servicer of First Mortgage

Commercial bank or trust company
18940 1660 976 2436 13867
Savings and loan association, federal
savings bank
25004 509 1816 1584 21094
Mutual savings bank 1941 92 0 144 1706
Life insurance company 2153 54 0 38 2061
Mortgage banker or mortgage company 33824 2335 1574 3997 25918
Federally-sponsored secondary market
agency or pool
0 0 0 0 0
Conventional mortgage pool 341 0 0 0 341
Other federal agency 2144 380 1009 0 755
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 33 0 0 0 33
Credit union 1819 97 62 34 1626
Finance company 738 0 30 0 708
State or municipal government or
housing finance agency
3750 271 347 32 3100
Individual or individual's estate 4665 0 0 326 4339
Other 3903 296 185 0 3423

Holder's Acquisition of First Mortgage

Originated directly from borrower
62214 3728 2639 4033 51815
Purchased from present servicer 18413 885 2484 960 14083
Purchased from someone else 18630 1080 877 3598 13074
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
70182 3703 4422 6400 55656
Less than 40 percent 3353 98 339 65 2850
40 to 49 percent 2354 162 45 250 1896
50 to 59 percent 6444 430 294 440 5280
60 to 69 percent 9763 122 313 1531 7797
70 to 79 percent 15598 1197 735 1775 11891
80 to 89 percent 10047 861 1000 964 7222
90 to 94 percent 2609 0 185 363 2061
95 to 99 percent 1677 123 361 66 1128
100 percent or more 15278 462 973 947 12897
Not reported 3059 249 177 0 2634
Median 77 78 84 75 77
Other properties 29075 1990 1578 2191 23315
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
70182 3703 4422 6400 55656
Less than 40 percent 5898 98 238 251 5310
40 to 49 percent 1990 162 0 289 1539
50 to 59 percent 5266 430 10 288 4539
60 to 69 percent 18413 180 1355 2305 14573
70 to 79 percent 17788 1197 1387 1709 13495
80 to 89 percent 7337 861 341 964 5171
90 to 94 percent 2101 0 68 363 1670
95 to 99 percent 1060 65 434 66 494
100 percent or more 7543 462 413 164 6504
Not reported 2786 249 177 0 2361
Median 71 77 74 70 71
Other properties 29075 1990 1578 2191 23315
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
6315 1199 77 736 4304
Not subprime loan 92941 4495 5923 7856 74668
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
70182 3703 4422 6400 55656
Less than 40 percent 3233 98 287 65 2783
40 to 49 percent 1821 0 87 250 1483
50 to 59 percent 5646 373 294 314 4664
60 to 69 percent 9193 341 240 1461 7152
70 to 79 percent 14525 711 733 1551 11531
80 to 89 percent 10168 1210 1047 711 7201
90 to 94 percent 3116 0 185 811 2120
95 to 99 percent 1905 65 361 290 1189
100 percent or more 17515 657 1011 947 14900
Not reported 3059 249 177 0 2634
Median 79 82 85 77 79
Other properties 29075 1990 1578 2191 23315
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
70182 3703 4422 6400 55656
Less than 40 percent 14423 491 433 1061 12438
40 to 49 percent 7273 33 505 728 6006
50 to 59 percent 11512 1095 1115 821 8481
60 to 69 percent 11605 929 528 2068 8079
70 to 79 percent 9385 256 387 681 8060
80 to 89 percent 5908 604 324 34 4946
90 to 94 percent 1358 0 161 363 834
95 to 99 percent 735 0 115 66 554
100 percent or more 5197 47 677 577 3896
Not reported 2786 249 177 0 2361
Median 60 61 61 63 60
Other properties 29075 1990 1578 2191 23315
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
10128 669 459 1369 7631
20 to 29 percent 8521 556 82 761 7122
30 to 39 percent 12631 301 531 1165 10634
40 to 49 percent 13918 1752 1308 402 10455
50 to 59 percent 14165 981 721 1697 10765
60 to 69 percent 17320 669 1118 1828 13705
70 to 79 percent 9469 433 405 177 8454
80 to 89 percent 3137 36 581 66 2454
90 to 99 percent 1730 35 231 500 964
100 percent or more 4760 12 323 525 3900
Not reported or not computed 3478 249 242 101 2886
Median 52 47 57 53 52

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
39495 1426 1418 2803 33847
Treasury security 3754 459 0 0 3295
Average cost of funds in bank district 21329 0 1158 125 20046
National average cost of funds 448 0 0 0 448
OTS contract mortgage rate 0 0 0 0 0
Other method 4229 0 0 510 3718
No index used 143 0 82 0 61
Not reported 9592 967 178 2168 6279
Other properties 59761 4267 4582 5789 45124
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
39495 1426 1418 2803 33847
Monthly 21158 0 681 125 20352
Every 3 months 1051 0 0 0 1051
Every 6 months 4004 0 51 482 3470
Yearly 1742 0 426 0 1316
Every 3 years 255 0 0 0 255
Every 5 years 720 0 0 28 691
Other 710 459 0 0 251
Not reported 9855 967 260 2168 6460
Other properties 59761 4267 4582 5789 45124
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
39495 1426 1418 2803 33847
Less than 1 percent 1853 0 51 0 1802
1 percent 51 0 0 0 51
1.1 to 1.9 percent 1093 0 0 0 1093
2 percent 1728 0 426 0 1302
2.1 to 2.9 percent 1540 0 0 0 1540
3 percent 601 0 0 0 601
3.1 to 3.9 percent 442 0 0 0 442
4.0 percent or more 1314 0 0 0 1314
No caps 19860 459 681 154 18566
Not reported 11013 967 260 2649 7137
Other properties 59761 4267 4582 5789 45124
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
39495 1426 1418 2803 33847
Less than 1 percent 1624 0 0 0 1624
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 166 0 0 0 166
3 percent 448 0 0 0 448
3.1 to 3.9 percent 456 0 167 0 288
4.0 percent or more 17115 0 767 125 16223
No caps 5587 0 0 28 5559
Not reported 14099 1426 484 2649 9539
Other properties 59761 4267 4582 5789 45124
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
39495 1426 1418 2803 33847
Yes, rate has changed 27116 459 1158 125 25373
No change since mortgage made 2234 0 82 28 2124
Not reported 10145 967 178 2649 6350
Other properties 59761 4267 4582 5789 45124
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
7224 0 939 125 6159
Payments can change monthly 70 0 0 0 70
Payments can change every three months 326 0 0 0 326
Payments can change every six months 309 0 0 0 309
Payments can change yearly 6310 0 939 125 5245
Payments can change every 3 years 209 0 0 0 209
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
81764 4726 4883 5817 66338
Not reported 10269 967 178 2649 6474

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
7224 0 939 125 6159
Yes, unrestricted negative amortization 163 0 93 0 70
Yes, restricted negative amortization 5642 0 588 125 4929
No negative amortization allowed 1359 0 258 0 1101
Not reported 60 0 0 0 60
Monthly payments cannot change 81764 4726 4883 5817 66338
Not reported 10269 967 178 2649 6474

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
94019 5297 5853 8466 74402
Interest and principal 93757 5297 5813 8280 74367
Fully amortized 80222 5222 4205 7922 62874
Not fully amortized 13535 75 1608 358 11493
Interest only 262 0 40 186 35
No regular payments required 2066 58 82 65 1861
Not reported 3172 339 65 60 2708

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
93757 5297 5813 8280 74367
Real estate taxes 12804 35 195 607 11968
Property insurance 5988 0 232 0 5756
Mortgage insurance 816 35 0 0 781
Other 2472 0 37 486 1949
No items included or not reported 80135 5262 5581 7669 61623
No regular payments of interest
and principal
5499 396 187 311 4604

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
97191 5636 5918 8526 77111
Less than $100 9496 576 1227 799 6895
$100 to $199 23111 2124 1308 2317 17362
$200 to $299 27753 1439 1807 1088 23420
$300 to $399 12575 393 775 1540 9867
$400 to $499 7315 215 339 1398 5364
$500 to $599 3259 0 319 790 2150
$600 to $699 2388 460 51 0 1877
$700 to $799 1392 92 28 34 1239
$800 to $899 1112 0 0 337 775
$900 to $999 1207 0 0 0 1207
$1,000 to $1,249 898 0 0 0 898
$1,250 to $1,499 96 0 0 0 96
$1,500 or more 3417 0 0 164 3253
Not reported 3172 339 65 60 2708
Median 252 198 222 302 255
Mean 513 257 230 375 569
No regular payments required 2066 58 82 65 1861

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
97191 5636 5918 8526 77111
Up-to-date, ahead of schedule, or
less than 90 days past due
39913 494 2505 865 36048
Delinquent by 90 days or more 172 0 0 0 172
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 172 0 0 0 172
Not reported 0 0 0 0 0
Not reported 57105 5141 3413 7661 40890
Other properties 2066 58 82 65 1861

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
97191 5636 5918 8526 77111
Less than $100 11888 873 1292 641 9082
$100 to $199 22365 2027 1247 2349 16742
$200 to $299 28212 1485 1868 1265 23594
$300 to $399 12361 266 737 1297 10061
$400 to $499 7193 271 339 1175 5408
$500 to $599 3976 162 319 1265 2229
$600 to $699 2436 198 89 0 2149
$700 to $799 1909 353 28 34 1494
$800 to $899 1174 0 0 337 837
$900 to $999 1207 0 0 0 1207
$1,000 to $1,249 851 0 0 0 851
$1,250 to $1,499 202 0 0 0 202
$1,500 or more 3417 0 0 164 3253
Not reported 0 0 0 0 0
Median 251 196 222 301 254
Mean 505 257 231 385 557
No regular payments required 2066 58 82 65 1861

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

Acquired before 2000 and
regular payments of interest
and/or princi
78429 4834 5084 6212 62298
Less than 20 percent 7118 558 1011 785 4764
20 to 29 percent 11438 555 881 1568 8434
30 to 39 percent 13555 867 441 579 11667
40 to 49 percent 12680 439 491 490 11259
50 to 59 percent 9422 704 1126 773 6819
60 to 69 percent 4975 16 216 331 4411
70 to 79 percent 4610 57 252 414 3887
80 to 89 percent 1754 87 251 344 1071
90 to 99 percent 1049 524 0 0 525
100 percent or more 11554 1026 413 927 9187
Not reported or not computed 273 0 0 0 273
Median 45 50 44 44 45
Other properties 20828 860 916 2379 16673

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

Acquired before 2000 and regular
payments of interest and/or
principal
78877 4834 5084 6212 62747
Less than 20 percent 7201 558 959 567 5117
20 to 29 percent 10936 479 881 1785 7791
30 to 39 percent 12951 805 483 570 11092
40 to 49 percent 12674 439 491 490 11253
50 to 59 percent 9310 577 1136 559 7039
60 to 69 percent 5890 178 216 555 4941
70 to 79 percent 4686 103 252 414 3916
80 to 89 percent 2296 87 251 344 1612
90 to 99 percent 990 524 0 0 466
100 percent or more 11670 1083 413 927 9247
Not reported or not computed 273 0 0 0 273
Median 46 52 44 44 46
Other properties 20379 860 916 2379 16225

Real Estate Tax Per Housing Unit

Acquired before 2000
82740 5172 5231 6278 66059
Less than $100 5954 241 400 421 4892
$100 to $199 6676 491 94 523 5569
$200 to $299 9721 657 1315 1010 6740
$300 to $399 13100 758 719 1296 10326
$400 to $499 7905 394 363 538 6610
$500 to $599 8061 879 265 470 6447
$600 to $699 6586 650 612 282 5043
$700 to $799 6069 373 142 336 5218
$800 to $899 5294 249 564 100 4382
$900 to $999 2668 208 0 38 2422
$1,000 to $1,249 4159 112 285 561 3201
$1,250 to $1,499 2515 0 167 703 1645
$1,500 to $1,999 2105 0 181 0 1924
$2,000 to $2,499 700 0 59 0 641
$2,500 or more 384 162 0 0 222
Not reported 843 0 65 0 778
Median 470 505 415 391 477
Mean 563 557 556 549 565
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Real Estate Tax Per $1,000 Value

Acquired before 2000
82740 5172 5231 6278 66059
Less than $5 21006 1467 1117 1382 17040
$5 to $9 30277 1384 1648 3335 23911
$10 to $14 20725 1515 1957 1078 16175
$15 to $19 4326 645 214 165 3302
$20 to $24 1144 0 171 0 973
$25 to $29 912 0 0 0 912
$30 to $39 3505 162 59 317 2967
$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 843 0 65 0 778
Median 8 9 9 8 8
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
82740 5172 5231 6278 66059
Less than 5 percent 15622 607 1466 1098 12451
5 to 9 percent 38845 2239 2118 3341 31147
10 to 14 percent 16656 1623 1205 1166 12661
15 to 19 percent 4911 129 247 482 4053
20 to 24 percent 2441 412 0 0 2029
25 to 29 percent 961 162 0 66 733
30 to 34 percent 989 0 59 0 930
35 to 39 percent 159 0 5 0 154
40 percent or more 1040 0 65 125 850
Not reported or not computed 1116 0 65 0 1051
Median 8 9 8 8 8
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Property Management

Property managed by paid property
management company
53166 2971 4981 4054 41160
Property not managed by paid property
management company
39241 2256 985 4266 31733
Not reported 6850 466 34 272 6078

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
82740 5172 5231 6278 66059
Less than $100 1401 151 32 250 967
$100 to $199 3422 507 128 77 2711
$200 to $299 6106 522 459 83 5041
$300 to $399 6096 85 109 452 5450
$400 to $499 5595 328 438 606 4223
$500 to $599 5166 80 751 59 4276
$600 to $699 3047 559 425 204 1859
$700 to $799 2167 162 166 182 1657
$800 to $899 1219 55 231 255 678
$900 to $999 602 0 117 0 485
$1,000 to $1,249 2749 70 1134 0 1546
$1,250 to $1,499 1172 0 77 32 1063
$1,500 to $1,999 1086 92 130 38 826
$2,000 to $2,499 446 0 27 0 419
$2,500 or more 1503 249 0 34 1221
No expenses 28074 1537 475 3056 23006
Not reported or not computed 12888 777 533 948 10631
Median 469 450 646 445 448
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
82740 5172 5231 6278 66059
Less than $100 742 134 0 88 519
$100 to $199 2956 291 258 64 2343
$200 to $299 5939 402 680 482 4375
$300 to $399 4331 566 163 362 3241
$400 to $499 6160 30 454 730 4946
$500 to $599 5440 588 246 447 4158
$600 to $699 4808 94 136 550 4028
$700 to $799 6439 76 785 166 5412
$800 to $899 3851 569 249 57 2976
$900 to $999 2650 132 178 0 2341
$1,000 to $1,249 6095 105 367 163 5460
$1,250 to $1,499 3866 416 192 569 2689
$1,500 to $1,999 4832 321 164 1025 3321
$2,000 to $2,499 2293 0 0 0 2293
$2,500 or more 5186 57 622 319 4189
No expenses 1448 0 0 242 1205
Not reported or not computed 15704 1391 738 1012 12562
Median 738 579 740 662 747
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
82740 5172 5231 6278 66059
Less than $250 7291 493 119 188 6491
$250 to $499 21042 1128 1161 2015 16738
$500 to $749 20782 1571 1417 1083 16712
$750 to $999 9130 358 855 1552 6366
$1,000 to $1,249 3869 69 373 224 3202
$1,250 to $1,499 1349 0 103 30 1216
$1,500 to $1,749 506 0 0 0 506
$1,750 to $1,999 138 0 0 0 138
$2,000 to $2,499 59 0 0 0 59
$2,500 or more 1824 0 0 0 1824
No expenses 2745 162 346 319 1918
Not reported or not computed 14006 1391 859 867 10889
Median 556 530 629 579 551
Acquired 2000 and 2001 (part) 16517 521 769 2314 12913

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