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Residential Finance Survey: 2001 - United States
Table 7-2a. Type of First Mortgage, Rental and Vacant 50-or-More-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

50-or-more housing-unit
properties with traditional
first mortgage
61105 46487 4759 8835 1025

PROPERTY CHARACTERISTICS


Number of Housing Units

50 to 74 housing units
17736 12671 1333 3379 353
75 to 99 housing units 9285 6813 872 1497 103
100 to 149 housing units 12855 9916 1035 1699 206
150 to 199 housing units 7963 6669 477 712 106
200 to 299 housing units 7604 5865 714 904 122
300 to 499 housing units 4542 3672 250 524 96
500 to 999 housing units 979 776 69 106 28
1,000 or more housing units 142 106 9 15 11

Manner of Acquisition

By purchase
55274 41925 4383 8014 953
Placed one new mortgage 43602 33335 3446 6114 706
Placed two or more new mortgages 3144 2252 264 571 57
Assumed mortgage(s) already on property 5072 3850 363 779 80
Assumed mortgage(s) already on property
and placed new mortgage
1096 696 134 223 43
Borrowed using assets other than this
property as collateral
438 421 0 16 1
Paid all cash-no borrowing 1275 880 69 271 55
Other manner 647 491 107 39 10
By inheritance or gift 425 296 29 83 17
By divorce 20 18 0 2 0
By tax free exchange of
other property
728 514 100 115 0
By foreclosure or assignment 403 287 36 69 10
By some other manner 1401 1107 41 233 20
Not reported 2854 2339 171 318 26

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
22844 16501 2129 3755 459
Sale of stock or other partnership
shares for this project
3251 2441 230 544 36
Sale of previously owned stocks,
shares, or other securities
472 331 60 73 8
Sale of land or other real estate 2135 1493 248 347 48
Owner's cash, bank deposits,
share accounts, or bonds
9730 6852 844 1810 224
Borrowing from a retirement plan 44 35 3 6 0
Borrowing using assets other than this
property as collateral
1323 954 104 214 52
Proceeds from an insurance policy 31 23 0 0 8
From a state or local government source 393 334 38 9 12
From a non-profit organization 245 207 22 17 0
Proceeds from sale of tax credits 1090 850 57 165 17
From parents or relatives 246 195 8 38 6
Other cash source 1169 872 79 194 24
Non-cash source 214 162 28 24 0
No downpayment required 1895 1447 122 280 46
Not reported 3238 2201 438 534 64
Other properties 37020 28953 2548 4971 548
Not reported 1241 1033 82 109 18

Year Property Acquired

1999 to 2001 (part)
10626 7777 996 1644 208
1997 and 1998 9376 6940 759 1561 115
1995 and 1996 5465 3940 502 854 169
1990 to 1994 7755 5812 626 1182 135
1985 to 1989 8238 6330 713 1076 120
1980 to 1984 7377 5839 482 994 62
1975 to 1979 6270 5237 263 651 119
1970 to 1974 3538 2864 187 447 39
1969 or earlier 2462 1747 231 426 58

Property New or Previously Owned When
Acquired

Acquired by purchase
55274 41925 4383 8014 953
New 21461 17559 1341 2254 307
Previously owned 32972 23749 2994 5597 632
As residential property 31082 22142 2911 5411 617
Converted from nonresidential use 1890 1606 83 185 15
Other 353 321 3 30 0
Not reported 488 296 44 134 13
Other properties 2978 2223 205 503 47
Not reported 2854 2339 171 318 26

Year Structure Built

1999 to March 2000
1873 1455 193 200 25
1997 and 1998 3191 2554 189 404 44
1995 and 1996 2276 1670 269 266 71
1990 to 1994 3355 2669 314 347 25
1980 to 1989 14864 11675 1008 1980 200
1970 to 1979 18739 14598 1098 2723 319
1960 to 1969 8445 6154 708 1372 211
1950 to 1959 2539 1807 308 392 32
1940 to 1949 1280 901 185 166 27
1939 or earlier 4543 3003 486 984 70

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
17882 12966 1650 2969 297
Less than $20,000 4160 3018 304 755 82
$20,000 to $39,999 6550 4626 687 1120 117
$40,000 to $59,999 3868 2811 411 589 57
$60,000 to $79,999 1860 1366 158 304 31
$80,000 to $99,999 735 558 55 118 4
$100,000 to $124,999 324 260 18 46 0
$125,000 to $149,999 179 161 6 6 5
$150,000 to $174,999 50 46 2 3 0
$175,000 to $199,999 42 37 1 4 0
$200,000 to $249,999 69 54 5 9 0
$250,000 to $299,999 13 9 0 3 0
$300,000 to $499,999 10 5 0 6 0
$500,000 or more 9 1 3 5 0
Median 34579 34951 35165 33034 31258
Mean 40690 40984 40563 40101 34472
Other properties 43224 33521 3109 5866 728

Value

Less than $1,000,000
2667 1881 218 529 39
$1,000,000 to $1,999,999 7938 5882 517 1413 126
$2,000,000 to $2,999,999 8583 6321 684 1377 200
$3,000,000 to $3,999,999 7819 5766 616 1295 142
$4,000,000 to $4,999,999 5102 3683 479 848 91
$5,000,000 to $7,499,999 10845 8503 857 1335 150
$7,500,000 to $9,999,999 4599 3622 290 639 48
$10,000,000 to $14,999,999 7167 5859 478 738 93
$15,000,000 to $19,999,999 2564 2054 191 271 48
$20,000,000 to $29,999,999 2211 1624 305 250 31
$30,000,000 to $39,999,999 678 516 79 67 17
$40,000,000 to $49,999,999 346 289 18 21 19
$50,000,000 or more 586 486 28 52 20
Median 4695105 4921003 4720254 3848198 4060409
Mean 7358174 7560215 7518594 6020352 8980601

Value Per Housing Unit@8

Less than $20,000
8571 6407 645 1373 146
$20,000 to $39,999 22371 16850 1601 3482 438
$40,000 to $59,999 16078 12593 1168 2110 208
$60,000 to $79,999 6789 5087 637 911 155
$80,000 to $99,999 3106 2271 366 439 29
$100,000 to $124,999 1840 1505 116 207 13
$125,000 to $149,999 955 681 107 156 12
$150,000 to $174,999 405 337 29 32 7
$175,000 to $199,999 228 175 24 18 12
$200,000 to $249,999 326 228 48 46 4
$250,000 to $299,999 166 128 15 21 1
$300,000 to $499,999 164 122 4 37 1
$500,000 or more 106 103 0 3 0
Median 39652 39983 42295 37483 36759
Mean 48827 49196 50306 46543 44934

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
39178 30076 2970 5468 665
Less than $50,000 10021 7336 796 1658 232
$50,000 to $99,999 6856 5252 541 957 106
$100,000 to $249,999 11297 8884 930 1356 128
$250,000 to $499,999 5299 4214 271 745 69
$500,000 to $749,999 2472 1958 161 310 43
$750,000 to $999,999 815 653 50 100 12
$1,000,000 to $1,499,999 910 694 83 105 27
$1,500,000 to $1,999,999 388 277 36 54 21
$2,000,000 to $2,999,999 398 261 24 109 5
$3,000,000 or more 721 547 78 74 23
Median 136001 141360 123913 113159 97456
Mean 387961 381003 388200 376827 793222
Properties with no capital
improvements between 1998 and 2000
12224 9023 960 2006 235
Capital improvements not
reported
9704 7388 829 1361 125

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
39178 30076 2970 5468 665
Less than $500 11216 8442 854 1698 223
$500 to $999 8506 6458 721 1168 160
$1,000 to $2,499 12556 10056 832 1501 166
$2,500 to $4,999 4144 3124 338 623 59
$5,000 to $7,499 1132 776 84 263 10
$7,500 to $9,999 424 354 15 48 7
$10,000 to $14,999 370 259 51 33 26
$15,000 to $19,999 195 160 18 16 2
$20,000 to $29,999 192 146 17 28 1
$30,000 or more 442 301 42 91 9
Median 992 1021 938 944 841
Mean 2551 2538 2259 2751 2787
Properties with no capital
improvements between 1998 and 2000
12224 9023 960 2006 235
Capital improvements not
reported
9704 7388 829 1361 125

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
54526 41640 4180 7786 920
Less than $100 1463 1099 48 280 36
$100 to $199 1765 1312 142 302 8
$200 to $299 2887 2251 199 360 78
$300 to $399 6626 5123 397 1015 91
$400 to $499 8908 6604 750 1420 135
$500 to $599 10033 7475 787 1632 139
$600 to $799 7253 5386 768 974 126
$800 to $999 9959 7996 601 1154 209
$1000 or more 5474 4301 466 612 94
No rental receipts 157 94 22 37 5
Median 555 559 569 530 579
Mean 644 643 677 617 795
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Rental Receipts as Percent of Value@8

Acquired before 2000
54526 41640 4180 7786 920
Less than 5 percent 1424 1092 69 231 32
5 to 9 percent 3407 2631 190 519 67
10 to 14 percent 16334 12013 1528 2550 244
15 to 19 percent 14811 11751 986 1877 197
20 to 24 percent 7989 6098 574 1234 83
25 to 29 percent 4315 3424 257 499 134
30 to 39 percent 3034 2334 219 390 91
40 percent or more 3082 2226 339 450 68
Median 17 17 16 17 18
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
54526 41640 4180 7786 920
Less than 1.0 percent 7279 5794 525 828 131
1.0 to 2.9 percent 9854 7574 634 1455 191
3.0 to 4.9 percent 8330 6252 639 1298 141
5.0 to 6.9 percent 5126 3932 418 672 103
7.0 to 8.9 percent 5096 4313 226 521 36
9.0 to 10.9 percent 2468 1827 197 417 27
11.0 to 12.9 percent 1453 1010 247 173 22
13.0 to 14.9 percent 731 507 37 182 5
15.0 percent or more 3730 2819 199 645 67
Not reported or not computed 10459 7611 1058 1594 196
Median 4.2 4.2 4.3 4.3 3.6
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Age Restrictions

Property restricted to people
age 55 or older
10468 8550 579 1208 131
Property not restricted to people
age 55 or older
48401 36081 4055 7388 876
Not reported 2236 1856 124 238 18

Age Composition

Over one-half the residents of the
building age 55 or older
3452 2769 258 367 57
Over one-half the residents of the
building not age 55 or older
43396 32258 3631 6716 791
Not reported 14258 11459 870 1752 177

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

Property provides meal service
5664 4592 355 643 73
Charge included in rent 3546 2753 289 467 37
Charge not included in rent 694 559 26 80 29
Not reported 1424 1280 40 96 7
Property does not provide meal
service
7803 6320 449 918 115
Not reported 47639 35574 3955 7273 837

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
5925 4850 314 636 125
Government rental subsidy 14753 11801 798 1872 282
Government grant 832 667 49 109 8
Property tax relief 3486 2660 293 424 108
Federal income tax credit for
low-income, old or historic properties
3202 2482 270 334 117
Accelerated federal income tax
depreciation for low- and
moderate-income properties
752 522 83 138 9
Subsidy from a non-profit corporation 713 529 61 112 11
None of the above benefits 35168 26268 2974 5426 500
Not reported 5700 4198 488 936 78

Source of Property Benefits@1

With property benefits
20238 16021 1297 2473 448
Federal government 15528 12470 945 1830 283
State government 2667 2135 160 273 99
Local government 3713 2777 272 557 108
Non-profit corporation 713 529 61 112 11
Not reported 522 407 19 85 11
With no property benefits 35168 26268 2974 5426 500
Not reported 5700 4198 488 936 78

Reason for Benefits@1

With property benefits
20238 16021 1297 2473 448
Occupied by low- or moderate-income
individuals
16938 13505 948 2110 375
Occupied by elderly or disabled
individuals
7611 6310 379 789 133
A historic structure 350 249 22 74 5
Located in a community development or
economic development area
828 719 50 44 15
Covered by a Homestead Exemption 90 61 0 29 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 41 35 0 7 0
Other reason 882 723 99 45 15
Not reported 777 513 122 115 28
With no property benefits 35168 26268 2974 5426 500
Not reported 5700 4198 488 936 78

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
25738 19182 1830 4314 412
Property has never had tenants
receiving Section 8 assistance
30503 23507 2487 3982 527
Not reported 4864 3798 442 538 86

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
7408 4918 624 1764 102
Limited partnership 26622 20809 1985 3366 461
Joint venture 661 445 44 154 19
General partnership 4472 3125 441 838 69
Life insurance company 108 79 13 14 1
Depository institution 5 5 0 0 0
Public real estate investment trust 1006 818 95 74 19
Private real estate investment trust 225 217 6 3 0
Corporation - other than real estate
investment trust
12605 9662 968 1754 220
Housing cooperative organization 2222 1754 221 202 44
Non-profit or church-related institution 3912 3261 219 378 55
Pension fund 84 69 6 9 0
Fraternal organization 11 6 0 6 0
Other 1765 1320 138 273 35

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
111 89 5 16 0
By telephone or FAX 6929 5200 505 1105 119
By regular mail 6759 5143 577 945 93
By personal visit 19750 14380 1629 3376 366
Through third party (such as real
estate agent or builder)
14847 11626 1195 1869 157
Some other way 3528 2721 257 410 140
Not reported 6304 4994 490 731 89
Not available 2877 2333 101 381 62

Origin of First Mortgage

Mortgage made at time property acquired
36496 27974 2517 5384 622
Mortgage assumed at the time property
acquired
5272 4117 362 678 116
Mortgage placed later than acquisition of
property
19337 14396 1880 2773 288
Refinanced mortgage 18234 13687 1652 2617 279
Same lender 4495 3188 590 638 80
Different lender 13740 10499 1062 1979 199
Mortgage placed on property
owned free and clear of debt
1102 709 228 156 9
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
19337 14396 1880 2773 288
Obtain lower interest rate 9955 7713 876 1281 84
Increase payment period for mortgage 529 418 17 93 1
Reduce payment period for mortgage 42 36 3 0 3
Renew or extend loan that had fallen
due, without increasing outstanding
balance
2251 1595 217 369 70
Receive cash or increase outstanding
balance of loan
3944 2841 421 610 72
Other reason 1779 1137 257 333 52
Not reported 836 655 89 88 5
Other properties 41769 32091 2879 6062 737
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
8972 6706 865 1272 128
Less than $1,000,000 4100 2752 473 796 79
$1,000,000 to $1,999,999 2984 2625 115 218 27
$2,000,000 to $2,999,999 566 415 56 94 1
$3,000,000 to $3,999,999 346 257 33 51 5
$4,000,000 to $4,999,999 272 195 28 40 9
$5,000,000 to $7,499,999 175 145 10 20 0
$7,500,000 to $9,999,999 129 113 1 11 4
$10,000,000 to $14,999,999 232 74 147 10 0
$15,000,000 to $19,999,999 68 60 0 6 2
$20,000,000 to $29,999,999 48 40 0 8 0
$30,000,000 to $39,999,999 14 9 0 4 1
$40,000,000 to $49,999,999 5 5 0 0 0
$50,000,000 or more 34 18 2 14 0
Not reported 0 0 0 0 0
Median 1129499 1229224 914434 799483 808379
Mean 2430523 2344490 3171520 2432460 1910327
Properties that refinanced
and did not receive cash back
7859 5836 805 1089 129
Properties that refinanced
and did not report if received
cash back
2505 1853 209 411 31
Properties that did not
refinance
41769 32091 2879 6062 737
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
8972 6706 865 1272 128
For additions, improvements or repairs
to this property
5820 4494 571 692 63
To consolidate debts 635 429 76 123 7
For investment in other real estate 4237 3362 223 599 53
For other types of investments 1077 740 126 177 33
For educational or medical expenses 17 13 0 4 0
To start a business 6 4 0 0 2
To settle a divorce 7 4 0 2 0
To pay taxes 113 81 6 20 6
To purchase an automobile, truck, or
other vehicle
20 17 0 3 0
To purchase consumer product other than
automobile, truck, or other vehicle
76 61 6 10 0
Other 1024 800 70 136 19
Not reported 249 174 53 14 8
Properties that refinanced
and did not receive cash back
7859 5836 805 1089 129
Properties that refinanced
and did not report if received
cash back
2505 1853 209 411 31
Properties that did not
refinance
41769 32091 2879 6062 737
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
18076 12454 2074 3215 333
1997 and 1998 15738 12272 1276 1995 195
1995 and 1996 6907 5255 447 1040 165
1990 to 1994 6937 5241 448 1151 97
1985 to 1989 4158 3446 116 525 72
1980 to 1984 4319 3703 190 390 36
1979 or earlier 4970 4117 207 518 127

First Mortgage Insurance Status

FHA-insured first mortgage
6261 5391 325 471 74
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
1959 1774 60 117 9
Other federal, state, or local
government-insured or guaranteed
first mortgage
4357 3699 265 339 53
Insured conventional first mortgage 4635 3726 156 671 81
Uninsured conventional first mortgage 43893 31896 3953 7236 808
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $500,000
2852 1953 245 612 42
$500,000 to $999,999 4903 3586 253 992 73
$1,000,000 to $1,499,999 7033 5057 592 1195 189
$1,500,000 to $1,999,999 6496 4706 502 1175 113
$2,000,000 to $2,499,999 5389 4004 513 790 82
$2,500,000 to $2,999,999 4451 3340 416 634 61
$3,000,000 to $3,999,999 6980 5433 554 895 99
$4,000,000 to $4,999,999 4759 3879 328 502 52
$5,000,000 to $7,499,999 7711 6404 416 791 99
$7,500,000 to $9,999,999 3236 2453 268 474 40
$10,000,000 to $12,499,999 2091 1532 313 197 49
$12,500,000 to $14,999,999 1083 807 104 151 22
$15,000,000 to $19,999,999 1097 912 65 106 13
$20,000,000 or more 1214 987 82 92 53
Not reported 1811 1435 108 229 38
Median 2834191 2982116 2765872 2208142 2465780
Mean 4472478 4599673 4453589 3654014 5890741

Total Mortgage Loan

Less than $500,000
2530 1787 191 510 42
$500,000 to $999,999 4632 3296 274 1001 61
$1,000,000 to $1,499,999 6751 4893 571 1107 180
$1,500,000 to $1,999,999 6206 4417 504 1196 88
$2,000,000 to $2,499,999 5227 3884 489 764 91
$2,500,000 to $2,999,999 4444 3386 370 630 58
$3,000,000 to $3,999,999 7118 5539 592 887 100
$4,000,000 to $4,999,999 4613 3681 327 528 76
$5,000,000 to $7,499,999 8455 7005 463 879 109
$7,500,000 to $9,999,999 3405 2559 282 526 38
$10,000,000 to $12,499,999 2138 1624 301 173 40
$12,500,000 to $14,999,999 1186 870 112 173 32
$15,000,000 to $19,999,999 1185 969 74 131 12
$20,000,000 or more 1407 1142 101 104 60
Not reported 1810 1434 108 229 38
Median 2984052 3155751 2900121 2320618 2768012
Mean 4775329 4921123 4688275 3884232 6298777

Traditional First Mortgage Outstanding
Debt

Less than $500,000
5445 4021 350 1002 73
$500,000 to $999,999 6689 4861 384 1282 161
$1,000,000 to $1,499,999 7502 5308 620 1391 184
$1,500,000 to $1,999,999 6390 4700 599 993 99
$2,000,000 to $2,499,999 5381 4130 467 736 49
$2,500,000 to $2,999,999 4003 3103 394 454 52
$3,000,000 to $3,999,999 6243 4837 479 839 88
$4,000,000 to $4,999,999 3606 2991 194 366 55
$5,000,000 to $7,499,999 6763 5583 404 694 81
$7,500,000 to $9,999,999 2761 2072 255 392 41
$10,000,000 to $12,499,999 1717 1214 284 184 34
$12,500,000 to $14,999,999 928 722 88 106 12
$15,000,000 to $19,999,999 938 775 64 88 12
$20,000,000 or more 937 740 70 82 45
Not reported 1802 1430 108 226 38
Median 2336807 2440549 2399893 1816756 1882531
Mean 3911668 4009036 4039715 3227739 4828166

Total Mortgage Outstanding Debt

Less than $500,000
4883 3610 341 864 69
$500,000 to $999,999 6272 4540 337 1247 148
$1,000,000 to $1,499,999 7277 5116 616 1404 142
$1,500,000 to $1,999,999 6176 4474 621 981 101
$2,000,000 to $2,499,999 5417 4254 403 705 56
$2,500,000 to $2,999,999 3756 2869 372 453 63
$3,000,000 to $3,999,999 6767 5259 524 894 89
$4,000,000 to $4,999,999 3977 3261 241 397 78
$5,000,000 to $7,499,999 7035 5807 393 745 90
$7,500,000 to $9,999,999 2904 2164 273 428 38
$10,000,000 to $12,499,999 1772 1281 278 180 33
$12,500,000 to $14,999,999 1015 774 94 127 20
$15,000,000 to $19,999,999 1025 828 84 103 10
$20,000,000 or more 1084 867 75 92 50
Not reported 1744 1384 108 214 38
Median 2468121 2597232 2511001 1905545 2309345
Mean 4040496 4136175 4162503 3354018 5051253

Current Interest Rate on First Mortgage

Less than 6.0 percent
23595 16584 2404 3836 772
6.0 percent 373 167 5 199 2
6.1 to 6.4 percent 792 586 50 142 13
6.5 to 6.9 percent 2523 1799 369 342 13
7.0 percent 5126 4103 172 845 7
7.1 to 7.4 percent 2574 1982 236 346 10
7.5 to 7.9 percent 6142 4818 501 783 39
8.0 percent 1121 854 139 116 11
8.1 to 8.4 percent 2405 1733 313 333 26
8.5 to 8.9 percent 2000 1373 226 374 27
9.0 percent 1201 1098 57 40 6
9.1 to 9.4 percent 800 697 47 51 4
9.5 to 9.9 percent 639 452 63 117 6
10.0 percent 300 220 9 43 28
10.1 to 10.4 percent 288 228 39 18 4
10.5 to 10.9 percent 433 390 4 39 0
11.0 percent 482 453 0 30 0
11.1 to 12.9 percent 876 672 77 100 27
13.0 percent 166 166 0 0 0
13.1 percent or more 9269 8112 49 1079 29
Not reported 0 0 0 0 0
Median 7.1 7.1 5.9 6.9 4.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
107 106 0 1 0
Constant payment 21 21 0 0 0
3-2-1 buydown 5 5 0 0 0
Other 22 22 0 0 0
Not reported 59 58 0 1 0
Properties without interest
rate buydown
19686 14004 2144 3256 283
Not reported 41312 32376 2615 5577 743

Term of First Mortgage

Less than 5 years
466 100 171 175 20
5 years 956 386 409 103 58
6 to 9 years 820 406 350 61 4
10 years 6748 5257 732 721 37
11 to 14 years 469 193 111 161 4
15 years 1667 981 147 521 18
16 to 19 years 669 508 48 103 9
20 years 983 610 112 238 23
21 to 24 years 244 191 4 41 7
25 years 989 634 11 336 9
26 to 29 years 153 150 0 2 1
30 years 8755 6675 337 1608 135
More than 30 years 3037 2967 11 20 39
No stated term 35148 27428 2316 4745 660
Median 24 30 10 21 25

Unexpired Term of First Mortgage

Less than 5 years
2926 1668 730 435 93
5 to 9 years 8375 6248 1090 966 71
10 to 14 years 3357 2629 255 446 27
15 to 19 years 2335 1504 75 733 23
20 to 24 years 2671 2107 71 450 43
25 to 29 years 4832 3599 214 936 83
30 or more years 1471 1314 9 124 25
No stated term or not computed 35138 27418 2316 4745 660
Median 13 13 7 16 13

Holder of First Mortgage

Commercial bank or trust company
10924 7284 1148 2239 253
Savings and loan association, federal
savings bank
6694 4018 528 2100 49
Mutual savings bank 964 578 103 280 4
Life insurance company 2892 2429 286 153 24
Mortgage banker or mortgage company 579 327 35 213 4
Federally-sponsored secondary market
agency or pool
23583 19032 1608 2492 452
Conventional mortgage pool 541 428 85 23 4
Other federal agency 3646 3273 126 193 54
Real estate investment trust 911 237 517 141 16
Pension or retirement fund 567 414 38 114 1
Credit union 1522 1297 29 188 8
Finance company 750 536 21 183 10
State or municipal government or
housing finance agency
4262 3832 94 270 66
Individual or individual's estate 1287 1129 47 87 24
Other 1984 1675 94 158 57

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
37110 28336 2654 5432 688
Less than 40 percent 2519 1898 222 366 33
40 to 49 percent 1251 1018 74 142 18
50 to 59 percent 2288 1706 175 343 64
60 to 69 percent 3785 2975 307 423 80
70 to 79 percent 5010 3581 377 980 72
80 to 89 percent 5169 3778 531 779 82
90 to 94 percent 2084 1574 74 332 104
95 to 99 percent 1854 1551 122 169 12
100 percent or more 11822 9200 689 1739 194
Not reported 1326 1054 85 159 28
Median 86 87 82 85 88
Other properties 23996 18151 2104 3403 337
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
37110 28336 2654 5432 688
Less than 40 percent 1863 1300 236 310 18
40 to 49 percent 1016 712 98 169 37
50 to 59 percent 1467 1089 141 217 21
60 to 69 percent 10626 8700 595 1138 193
70 to 79 percent 5689 3853 508 1213 115
80 to 89 percent 4566 3268 502 732 63
90 to 94 percent 1747 1357 58 223 109
95 to 99 percent 1262 1060 53 140 9
100 percent or more 7645 6030 379 1140 96
Not reported 1229 966 85 151 27
Median 75 75 74 77 75
Other properties 23996 18151 2104 3403 337
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
4040 3460 236 264 79
Not subprime loan 57065 43026 4523 8570 946
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
9857 0 0 8835 1022
Treasury security 1430 0 0 1421 9
Average cost of funds in bank district 898 0 0 898 0
National average cost of funds 45 0 0 45 0
OTS contract mortgage rate 0 0 0 0 0
Other method 1262 0 0 1163 100
No index used 144 0 0 33 112
Not reported 6078 0 0 5276 802
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
9857 0 0 8835 1022
Monthly 1073 0 0 1029 44
Every 3 months 111 0 0 110 1
Every 6 months 473 0 0 473 0
Yearly 694 0 0 680 14
Every 3 years 165 0 0 165 0
Every 5 years 910 0 0 901 10
Other 271 0 0 190 81
Not reported 6159 0 0 5286 873
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
9857 0 0 8835 1022
Less than 1 percent 123 0 0 123 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 115 0 0 115 0
2 percent 368 0 0 365 4
2.1 to 2.9 percent 166 0 0 166 0
3 percent 69 0 0 69 0
3.1 to 3.9 percent 137 0 0 137 0
4.0 percent or more 164 0 0 157 7
No caps 2475 0 0 2341 134
Not reported 6241 0 0 5363 878
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
9857 0 0 8835 1022
Less than 1 percent 49 0 0 49 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 5 0 0 5 0
2 percent 5 0 0 5 0
2.1 to 2.9 percent 24 0 0 24 0
3 percent 43 0 0 39 4
3.1 to 3.9 percent 22 0 0 22 0
4.0 percent or more 1432 0 0 1422 10
No caps 1977 0 0 1833 145
Not reported 6299 0 0 5436 863
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
9857 0 0 8835 1022
Yes, rate has changed 2474 0 0 2365 110
No change since mortgage made 1287 0 0 1205 82
Not reported 6096 0 0 5265 831
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
9857 0 0 8835 1022
Less than 1 percent 75 0 0 53 22
1 percent 9 0 0 6 2
1.1 to 1.9 percent 161 0 0 147 14
2 percent 217 0 0 217 0
2.1 to 2.9 percent 1823 0 0 1778 45
3 percent 304 0 0 304 0
3.1 to 3.9 percent 531 0 0 531 0
4 percent 47 0 0 44 4
4.1 to 4.9 percent 48 0 0 48 0
5 percent or more 171 0 0 155 16
Not reported 6470 0 0 5551 919
Median 2.7 0.0 0.0 2.7 2.4
Other properties 51249 46487 4759 0 3
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
9857 0 0 8835 1022
Can be converted 174 0 0 134 40
Cannot be converted 3255 0 0 3121 134
Not reported 6428 0 0 5579 848
Other properties 51249 46487 4759 0 3
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
310 0 0 297 13
Payments can change monthly 22 0 0 21 1
Payments can change every three months 1 0 0 0 1
Payments can change every six months 21 0 0 21 0
Payments can change yearly 142 0 0 135 7
Payments can change every 3 years 38 0 0 38 0
Payments can change every 5 years 54 0 0 54 0
Other 31 0 0 27 4
Not reported 1 0 0 1 0
Monthly payments cannot
change
54468 46487 4759 3046 176
Not reported 6327 0 0 5491 836

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
310 0 0 297 13
Yes, unrestricted negative amortization 17 0 0 17 0
Yes, restricted negative amortization 88 0 0 88 0
No negative amortization allowed 204 0 0 191 13
Not reported 0 0 0 0 0
Monthly payments cannot change 54468 46487 4759 3046 176
Not reported 6327 0 0 5491 836

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
57701 44029 4497 8290 886
Interest and principal 57200 43775 4376 8206 842
Fully amortized 44160 36648 68 6712 731
Not fully amortized 13040 7127 4308 1494 111
Interest only 501 253 121 84 44
No regular payments required 554 219 75 160 100
Not reported 2850 2239 187 385 40

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
57200 43775 4376 8206 842
Real estate taxes 14694 11402 1505 1714 73
Property insurance 10761 9442 560 700 59
Mortgage insurance 4644 4493 11 139 1
Other 8849 7698 648 461 43
No items included or not reported 42191 32121 2850 6478 741
No regular payments of interest
and principal
3906 2712 382 629 183

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
60551 46268 4684 8674 926
Less than $100 9338 7087 589 1512 149
$100 to $199 18480 13427 1694 3046 314
$200 to $299 16475 13105 1047 2093 229
$300 to $399 6807 5104 726 861 116
$400 to $499 3065 2513 221 294 37
$500 to $599 1326 1078 68 168 11
$600 to $699 629 477 43 96 12
$700 to $799 369 324 9 30 5
$800 to $899 225 194 22 8 1
$900 to $999 134 93 17 23 1
$1,000 to $1,249 263 212 23 26 2
$1,250 to $1,499 143 96 9 36 1
$1,500 or more 449 318 28 97 6
Not reported 2850 2239 187 385 40
Median 206 211 198 186 194
Mean 257 260 249 243 266
No regular payments required 554 219 75 160 100

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
60551 46268 4684 8674 926
Up-to-date, ahead of schedule, or
less than 90 days past due
21279 15613 2073 3392 201
Delinquent by 90 days or more 140 77 5 46 12
Legal proceedings have begun 18 12 2 0 4
Legal proceedings have not begun 115 65 3 40 6
Not reported 7 0 0 6 1
Not reported 39132 30577 2605 5237 713
Other properties 554 219 75 160 100

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
60551 46268 4684 8674 926
Less than $100 11571 8879 739 1792 161
$100 to $199 18030 13131 1572 3016 311
$200 to $299 16452 12894 1159 2145 254
$300 to $399 7474 5714 753 888 119
$400 to $499 3217 2631 228 321 37
$500 to $599 1426 1168 75 170 13
$600 to $699 691 536 41 102 12
$700 to $799 399 343 17 34 4
$800 to $899 248 212 22 13 1
$900 to $999 137 96 18 21 2
$1,000 to $1,249 269 214 23 28 3
$1,250 to $1,499 146 105 9 30 1
$1,500 or more 493 345 28 114 6
Not reported 0 0 0 0 0
Median 204 209 203 184 197
Mean 253 256 246 240 264
No regular payments required 554 219 75 160 100

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

Acquired before 2000 and
regular payments of interest
and/or princi
51555 39437 3946 7382 791
Less than 20 percent 7092 5276 521 1096 199
20 to 29 percent 9847 7371 902 1437 137
30 to 39 percent 13281 10388 868 1854 170
40 to 49 percent 9671 7595 681 1320 75
50 to 59 percent 5508 4096 579 710 123
60 to 69 percent 2371 1922 133 284 32
70 to 79 percent 953 724 64 135 30
80 to 89 percent 380 325 23 27 4
90 to 99 percent 286 220 4 61 0
100 percent or more 2044 1453 152 419 20
Not reported or not computed 123 67 19 37 0
Median 37 37 36 36 34
Other properties 9550 7050 813 1453 234

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

Acquired before 2000 and regular
payments of interest and/or
principal
51659 39500 3961 7392 806
Less than 20 percent 6594 4857 510 1025 202
20 to 29 percent 9382 7073 819 1385 106
30 to 39 percent 12803 9995 906 1728 174
40 to 49 percent 10146 8035 634 1372 105
50 to 59 percent 5931 4366 656 781 128
60 to 69 percent 2721 2123 167 398 32
70 to 79 percent 1032 794 63 145 30
80 to 89 percent 440 384 26 25 4
90 to 99 percent 369 299 9 61 0
100 percent or more 2113 1506 152 435 20
Not reported or not computed 127 67 19 37 4
Median 38 38 37 37 35
Other properties 9446 6987 798 1443 219

Real Estate Tax Per $1,000 Value

Acquired before 2000
54526 41640 4180 7786 920
Less than $5 7448 5974 563 802 109
$5 to $9 10417 7848 602 1800 167
$10 to $14 13407 9997 1239 1972 199
$15 to $19 9253 7539 478 1121 115
$20 to $24 4458 3455 351 523 128
$25 to $29 2951 2144 317 440 49
$30 to $39 5941 4167 590 1040 144
$40 to $49 11 11 0 0 0
$50 to $59 4 0 4 0 0
$60 or more 45 31 0 14 0
Not reported or not computed 591 472 35 75 9
Median 13 13 14 13 15
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
54526 41640 4180 7786 920
Less than 5 percent 12701 10071 949 1494 187
5 to 9 percent 25285 19318 1759 3757 451
10 to 14 percent 10830 8090 923 1603 214
15 to 19 percent 2602 1887 324 359 32
20 to 24 percent 1172 866 77 224 5
25 to 29 percent 330 240 45 38 7
30 to 34 percent 128 91 18 15 4
35 to 39 percent 62 30 5 28 0
40 percent or more 696 504 27 158 7
Not reported or not computed 721 543 54 112 12
Median 8 8 8 8 8
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Property Management

Property managed by paid property
management company
53642 40992 4135 7587 929
Property not managed by paid property
management company
4980 3561 420 923 76
Not reported 2483 1934 203 325 21

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
54526 41640 4180 7786 920
Less than $100 880 721 43 108 7
$100 to $199 2610 1952 189 415 55
$200 to $299 5643 4088 361 1102 92
$300 to $399 7425 5744 586 1010 84
$400 to $499 6691 5383 497 657 154
$500 to $599 3733 2677 343 651 60
$600 to $699 2661 1993 263 354 51
$700 to $799 2445 1871 196 343 35
$800 to $899 1905 1505 69 312 19
$900 to $999 1718 1277 134 252 55
$1,000 to $1,249 4002 3155 232 554 61
$1,250 to $1,499 2668 2093 242 293 40
$1,500 to $1,999 2146 1731 162 182 71
$2,000 to $2,499 668 542 25 84 17
$2,500 or more 1315 1089 87 116 22
No expenses 2649 1719 277 638 15
Not reported or not computed 5367 4099 474 715 80
Median 500 501 511 489 531
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
54526 41640 4180 7786 920
Less than $100 1701 1187 238 262 13
$100 to $199 2336 1763 115 404 53
$200 to $299 3035 2309 193 483 50
$300 to $399 3625 2726 277 583 39
$400 to $499 3956 2819 450 620 68
$500 to $599 3809 2922 297 533 57
$600 to $699 3894 2966 311 547 71
$700 to $799 3267 2604 179 435 49
$800 to $899 4348 3463 305 547 33
$900 to $999 2276 1780 113 322 61
$1,000 to $1,249 5489 4368 297 720 106
$1,250 to $1,499 3390 2644 246 422 78
$1,500 to $1,999 3603 2759 241 539 64
$2,000 to $2,499 1419 1090 119 205 5
$2,500 or more 1918 1356 176 297 89
No expenses 382 309 18 41 15
Not reported or not computed 6079 4577 606 827 69
Median 751 765 667 706 854
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
54526 41640 4180 7786 920
Less than $250 4141 3173 296 626 44
$250 to $499 13717 10379 1097 1963 278
$500 to $749 13807 10754 797 2076 180
$750 to $999 7962 6098 565 1156 142
$1,000 to $1,249 4215 3104 433 594 84
$1,250 to $1,499 1887 1415 238 213 22
$1,500 to $1,749 1046 835 43 134 34
$1,750 to $1,999 464 379 27 55 2
$2,000 to $2,499 336 276 31 23 6
$2,500 or more 506 340 57 79 31
No expenses 572 422 9 121 20
Not reported or not computed 5874 4465 586 746 77
Median 612 612 625 605 624
Acquired 2000 and 2001 (part) 6579 4847 579 1048 106

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