U.S. Department of Commerce

Residential Finance Survey

Skip top of page navigation
You are here: Census.govPeople and HouseholdsResidential Finance Survey MainData › ›

Residential Finance Survey: 2001 - South
Table 7-2d. 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
20086 15900 1543 2358 285

PROPERTY CHARACTERISTICS


Number of Housing Units

50 to 74 housing units
3987 3158 205 573 52
75 to 99 housing units 2315 1799 199 291 26
100 to 149 housing units 4521 3614 320 524 63
150 to 199 housing units 2832 2281 217 293 40
200 to 299 housing units 3552 2640 455 398 58
300 to 499 housing units 2399 2014 107 245 33
500 to 999 housing units 438 363 35 31 8
1,000 or more housing units 42 30 5 3 4

Manner of Acquisition

By purchase
18005 14157 1450 2128 271
Placed one new mortgage 14418 11350 1192 1693 183
Placed two or more new mortgages 913 701 91 102 19
Assumed mortgage(s) already on property 1712 1374 97 203 37
Assumed mortgage(s) already on property
and placed new mortgage
276 213 21 33 9
Borrowed using assets other than this
property as collateral
169 166 0 3 0
Paid all cash-no borrowing 353 244 10 81 18
Other manner 163 108 38 12 5
By inheritance or gift 90 76 4 9 0
By divorce 4 4 0 0 0
By tax free exchange of
other property
121 91 16 14 0
By foreclosure or assignment 185 134 8 42 0
By some other manner 621 531 10 72 9
Not reported 1060 907 55 92 5

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
8834 6605 868 1214 147
Sale of stock or other partnership
shares for this project
1628 1326 68 216 17
Sale of previously owned stocks,
shares, or other securities
176 131 2 37 7
Sale of land or other real estate 630 453 59 98 20
Owner's cash, bank deposits,
share accounts, or bonds
3868 2816 357 608 86
Borrowing from a retirement plan 17 12 3 3 0
Borrowing using assets other than this
property as collateral
401 327 31 26 17
Proceeds from an insurance policy 15 7 0 0 8
From a state or local government source 95 61 29 5 0
From a non-profit organization 114 83 17 14 0
Proceeds from sale of tax credits 247 206 27 12 2
From parents or relatives 53 46 0 7 0
Other cash source 316 236 29 32 19
Non-cash source 76 58 10 8 0
No downpayment required 934 754 28 134 17
Not reported 1163 757 269 126 10
Other properties 10683 8807 637 1104 135
Not reported 569 488 38 40 4

Year Property Acquired

1999 to 2001 (part)
4117 3219 329 486 82
1997 and 1998 3891 2990 315 536 49
1995 and 1996 2008 1414 274 296 24
1990 to 1994 2831 2263 178 350 39
1985 to 1989 2589 2077 156 328 28
1980 to 1984 2152 1823 148 159 21
1975 to 1979 1146 995 82 49 19
1970 to 1974 870 725 28 101 16
1969 or earlier 483 392 33 52 6

Property New or Previously Owned When
Acquired

Acquired by purchase
18005 14157 1450 2128 271
New 6748 5610 554 506 78
Previously owned 11036 8393 878 1575 189
As residential property 10044 7489 835 1538 183
Converted from nonresidential use 991 905 43 37 6
Other 103 78 3 22 0
Not reported 119 75 15 25 3
Other properties 1021 836 39 137 9
Not reported 1060 907 55 92 5

Year Structure Built

1999 to March 2000
893 760 83 45 5
1997 and 1998 1481 1282 71 109 19
1995 and 1996 865 598 205 58 4
1990 to 1994 1038 906 50 78 3
1980 to 1989 5936 4728 380 759 69
1970 to 1979 6117 4813 422 789 93
1960 to 1969 2576 1885 244 373 74
1950 to 1959 752 577 70 106 0
1940 to 1949 206 179 12 1 15
1939 or earlier 222 173 8 39 3

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
7027 5343 608 954 122
Less than $20,000 2464 1939 149 331 46
$20,000 to $39,999 2293 1684 214 342 52
$40,000 to $59,999 1408 1041 167 186 15
$60,000 to $79,999 611 468 66 70 7
$80,000 to $99,999 141 110 11 19 0
$100,000 to $124,999 40 39 0 1 0
$125,000 to $149,999 34 32 0 0 3
$150,000 to $174,999 21 21 0 0 0
$175,000 to $199,999 2 2 0 0 0
$200,000 to $249,999 3 3 0 0 0
$250,000 to $299,999 4 4 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 5 0 0 5 0
Median 29156 28700 34503 28549 25901
Mean 33451 33039 36360 34355 29954
Other properties 13059 10558 935 1404 163

Value

Less than $1,000,000
1253 892 124 214 22
$1,000,000 to $1,999,999 2554 1973 140 388 53
$2,000,000 to $2,999,999 2610 2073 186 317 33
$3,000,000 to $3,999,999 2575 2131 166 272 6
$4,000,000 to $4,999,999 1485 1125 94 237 29
$5,000,000 to $7,499,999 3982 3371 252 308 51
$7,500,000 to $9,999,999 1526 1219 61 226 21
$10,000,000 to $14,999,999 2034 1569 203 238 25
$15,000,000 to $19,999,999 785 631 61 72 22
$20,000,000 to $29,999,999 852 568 216 61 7
$30,000,000 to $39,999,999 238 182 32 17 7
$40,000,000 to $49,999,999 74 61 4 5 3
$50,000,000 or more 118 105 4 3 6
Median 4707860 4781935 5605495 3955144 4998737
Mean 6958452 6929539 8673253 5819751 8706316

Value Per Housing Unit@8

Less than $20,000
4178 3210 323 602 43
$20,000 to $39,999 8450 6680 544 1067 159
$40,000 to $59,999 4368 3597 291 436 43
$60,000 to $79,999 1698 1377 144 148 29
$80,000 to $99,999 747 482 196 64 4
$100,000 to $124,999 353 304 27 20 1
$125,000 to $149,999 134 119 5 5 4
$150,000 to $174,999 38 32 0 6 0
$175,000 to $199,999 14 13 0 0 1
$200,000 to $249,999 63 48 13 1 0
$250,000 to $299,999 11 10 0 1 0
$300,000 to $499,999 27 22 0 5 0
$500,000 or more 6 6 0 0 0
Median 33882 34190 36520 30817 32482
Mean 38848 39106 42481 35078 35988

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
13499 10805 995 1533 166
Less than $50,000 2961 2362 190 359 49
$50,000 to $99,999 1900 1568 108 211 13
$100,000 to $249,999 4492 3656 389 414 33
$250,000 to $499,999 1866 1451 109 273 33
$500,000 to $749,999 1148 901 83 141 23
$750,000 to $999,999 312 258 16 34 4
$1,000,000 to $1,499,999 329 248 53 24 4
$1,500,000 to $1,999,999 132 100 15 13 3
$2,000,000 to $2,999,999 130 83 14 31 2
$3,000,000 or more 231 179 18 33 2
Median 163104 160445 176893 171124 194755
Mean 393188 372975 462906 490805 389391
Properties with no capital
improvements between 1998 and 2000
2986 2221 249 460 55
Capital improvements not
reported
3601 2873 299 364 64

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
13499 10805 995 1533 166
Less than $500 3896 3187 215 448 46
$500 to $999 2879 2260 287 298 34
$1,000 to $2,499 4635 3844 281 465 45
$2,500 to $4,999 1249 962 106 150 32
$5,000 to $7,499 348 181 56 107 4
$7,500 to $9,999 164 135 9 19 1
$10,000 to $14,999 106 73 25 5 2
$15,000 to $19,999 54 41 5 6 1
$20,000 to $29,999 53 39 7 8 0
$30,000 or more 115 83 4 28 0
Median 996 990 992 1067 1069
Mean 2239 2124 2192 3140 1652
Properties with no capital
improvements between 1998 and 2000
2986 2221 249 460 55
Capital improvements not
reported
3601 2873 299 364 64

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
17660 14027 1389 2024 220
Less than $100 719 560 17 134 7
$100 to $199 911 716 84 104 7
$200 to $299 1233 940 129 150 14
$300 to $399 2931 2350 169 366 47
$400 to $499 3562 2793 264 452 54
$500 to $599 3045 2393 212 416 24
$600 to $799 1852 1382 274 162 35
$800 to $999 2135 1792 163 161 19
$1000 or more 1240 1076 71 79 14
No rental receipts 33 25 5 1 1
Median 485 487 513 457 465
Mean 570 580 559 517 540
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Rental Receipts as Percent of Value@8

Acquired before 2000
17660 14027 1389 2024 220
Less than 5 percent 394 336 7 44 7
5 to 9 percent 814 635 52 123 5
10 to 14 percent 4922 3792 573 511 46
15 to 19 percent 4526 3677 291 483 74
20 to 24 percent 3292 2571 192 493 36
25 to 29 percent 1838 1495 110 216 17
30 to 39 percent 1005 844 51 88 22
40 percent or more 841 653 109 66 13
Median 18 18 16 18 19
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
17660 14027 1389 2024 220
Less than 1.0 percent 1745 1485 58 183 18
1.0 to 2.9 percent 2261 1863 149 221 29
3.0 to 4.9 percent 2479 2010 202 224 44
5.0 to 6.9 percent 1950 1495 160 275 20
7.0 to 8.9 percent 1796 1510 139 135 12
9.0 to 10.9 percent 956 723 54 156 22
11.0 to 12.9 percent 650 388 206 54 2
13.0 to 14.9 percent 373 245 22 104 3
15.0 percent or more 2054 1631 115 278 30
Not reported or not computed 3395 2677 284 394 41
Median 5.7 5.4 6.8 6.4 4.9
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Age Restrictions

Property restricted to people
age 55 or older
2548 2203 105 213 27
Property not restricted to people
age 55 or older
16542 12875 1362 2056 249
Not reported 996 822 76 89 9

Age Composition

Over one-half the residents of the
building age 55 or older
991 864 50 60 17
Over one-half the residents of the
building not age 55 or older
15035 11649 1272 1884 230
Not reported 4060 3388 221 414 38

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

Property provides meal service
1469 1280 81 91 17
Charge included in rent 791 642 64 70 15
Charge not included in rent 153 128 13 13 0
Not reported 524 510 4 9 1
Property does not provide meal
service
2011 1675 84 229 23
Not reported 16607 12946 1378 2037 246

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1448 1195 93 128 32
Government rental subsidy 4155 3390 233 468 64
Government grant 181 144 3 31 3
Property tax relief 417 331 47 34 6
Federal income tax credit for
low-income, old or historic properties
985 794 113 72 6
Accelerated federal income tax
depreciation for low- and
moderate-income properties
95 87 4 3 0
Subsidy from a non-profit corporation 187 163 4 15 4
None of the above benefits 12462 9731 1077 1489 165
Not reported 2013 1582 149 253 29

Source of Property Benefits@1

With property benefits
5611 4587 317 616 91
Federal government 4698 3826 272 526 75
State government 464 394 16 51 3
Local government 702 558 38 84 23
Non-profit corporation 187 163 4 15 4
Not reported 94 80 2 12 0
With no property benefits 12462 9731 1077 1489 165
Not reported 2013 1582 149 253 29

Reason for Benefits@1

With property benefits
5611 4587 317 616 91
Occupied by low- or moderate-income
individuals
4840 3956 268 538 77
Occupied by elderly or disabled
individuals
2077 1826 77 153 20
A historic structure 70 49 9 12 0
Located in a community development or
economic development area
172 153 4 9 5
Covered by a Homestead Exemption 29 29 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 5 5 0 0 0
Other reason 130 100 17 10 3
Not reported 161 118 2 38 3
With no property benefits 12462 9731 1077 1489 165
Not reported 2013 1582 149 253 29

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
6602 5045 561 886 110
Property has never had tenants
receiving Section 8 assistance
11678 9371 824 1327 157
Not reported 1806 1484 159 145 18

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
1904 1301 186 385 31
Limited partnership 10922 8825 964 1022 111
Joint venture 276 194 29 38 15
General partnership 972 652 44 261 15
Life insurance company 45 40 0 5 0
Depository institution 5 5 0 0 0
Public real estate investment trust 527 402 54 60 12
Private real estate investment trust 98 95 0 3 0
Corporation - other than real estate
investment trust
3423 2714 179 443 87
Housing cooperative organization 434 415 6 10 3
Non-profit or church-related institution 1119 976 59 79 6
Pension fund 23 22 1 0 0
Fraternal organization 0 0 0 0 0
Other 337 260 20 52 4

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
33 28 4 1 0
By telephone or FAX 2673 2082 183 361 47
By regular mail 2228 1843 151 208 26
By personal visit 6065 4517 532 913 103
Through third party (such as real
estate agent or builder)
4570 3768 354 400 47
Some other way 1068 878 93 73 25
Not reported 2350 1873 195 269 13
Not available 1098 910 31 133 24

Origin of First Mortgage

Mortgage made at time property acquired
12408 10001 796 1448 162
Mortgage assumed at the time property
acquired
2111 1743 118 200 51
Mortgage placed later than acquisition of
property
5567 4156 629 710 71
Refinanced mortgage 5141 3935 468 671 67
Same lender 1063 776 65 209 13
Different lender 4078 3159 402 463 54
Mortgage placed on property
owned free and clear of debt
426 222 161 39 5
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
5567 4156 629 710 71
Obtain lower interest rate 2182 1798 121 250 12
Increase payment period for mortgage 292 221 3 68 0
Reduce payment period for mortgage 13 10 0 0 3
Renew or extend loan that had fallen
due, without increasing outstanding
balance
519 321 80 101 18
Receive cash or increase outstanding
balance of loan
1556 1154 242 142 18
Other reason 623 338 159 108 19
Not reported 382 316 24 42 1
Other properties 14519 11744 914 1648 214
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
2220 1631 313 243 34
Less than $1,000,000 1095 800 107 170 18
$1,000,000 to $1,999,999 436 376 31 20 8
$2,000,000 to $2,999,999 202 184 6 12 0
$3,000,000 to $3,999,999 65 51 8 3 2
$4,000,000 to $4,999,999 80 61 12 4 3
$5,000,000 to $7,499,999 42 38 2 2 0
$7,500,000 to $9,999,999 68 62 0 5 1
$10,000,000 to $14,999,999 182 34 145 2 0
$15,000,000 to $19,999,999 16 10 0 5 1
$20,000,000 to $29,999,999 10 6 0 4 0
$30,000,000 to $39,999,999 1 1 0 0 0
$40,000,000 to $49,999,999 2 2 0 0 0
$50,000,000 or more 22 7 1 14 0
Not reported 0 0 0 0 0
Median 1035123 1041190 4356624 713456 941150
Mean 3596759 2636727 6372739 6695035 2016574
Properties that refinanced
and did not receive cash back
2555 1933 254 334 34
Properties that refinanced
and did not report if received
cash back
791 592 62 134 4
Properties that did not
refinance
14519 11744 914 1648 214
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
2220 1631 313 243 34
For additions, improvements or repairs
to this property
1362 989 248 99 26
To consolidate debts 156 122 6 28 0
For investment in other real estate 824 630 89 98 7
For other types of investments 222 171 10 39 2
For educational or medical expenses 7 6 0 1 0
To start a business 5 3 0 0 2
To settle a divorce 0 0 0 0 0
To pay taxes 33 20 6 7 0
To purchase an automobile, truck, or
other vehicle
1 1 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
5 2 3 0 0
Other 352 282 20 46 5
Not reported 73 73 0 0 0
Properties that refinanced
and did not receive cash back
2555 1933 254 334 34
Properties that refinanced
and did not report if received
cash back
791 592 62 134 4
Properties that did not
refinance
14519 11744 914 1648 214
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
6467 4572 714 1062 119
1997 and 1998 5134 4170 421 498 46
1995 and 1996 2219 1755 140 285 40
1990 to 1994 2379 2034 88 220 37
1985 to 1989 1359 1198 44 105 12
1980 to 1984 1235 1075 76 70 14
1979 or earlier 1292 1098 59 117 18

First Mortgage Insurance Status

FHA-insured first mortgage
2351 2065 111 151 24
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
750 691 25 32 1
Other federal, state, or local
government-insured or guaranteed
first mortgage
815 529 179 91 16
Insured conventional first mortgage 1736 1473 35 204 23
Uninsured conventional first mortgage 14435 11142 1193 1879 221
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $500,000
1152 791 125 223 14
$500,000 to $999,999 1504 1052 93 331 28
$1,000,000 to $1,499,999 1994 1618 127 217 32
$1,500,000 to $1,999,999 1835 1474 108 229 23
$2,000,000 to $2,499,999 1797 1397 171 223 7
$2,500,000 to $2,999,999 1562 1344 113 100 6
$3,000,000 to $3,999,999 2366 2015 104 200 47
$4,000,000 to $4,999,999 1728 1475 89 133 30
$5,000,000 to $7,499,999 2140 1713 135 261 30
$7,500,000 to $9,999,999 1158 908 84 158 8
$10,000,000 to $12,499,999 898 567 245 60 26
$12,500,000 to $14,999,999 424 304 56 59 5
$15,000,000 to $19,999,999 450 375 30 42 3
$20,000,000 or more 427 356 33 23 16
Not reported 651 512 30 99 11
Median 2959356 3009400 3192583 2288647 3594385
Mean 4596921 4594608 5485536 3868070 5826495

Total Mortgage Loan

Less than $500,000
1094 772 96 212 14
$500,000 to $999,999 1405 942 116 326 21
$1,000,000 to $1,499,999 1916 1560 125 200 31
$1,500,000 to $1,999,999 1770 1411 104 233 23
$2,000,000 to $2,499,999 1789 1409 175 198 7
$2,500,000 to $2,999,999 1577 1371 80 115 11
$3,000,000 to $3,999,999 2393 2063 101 187 42
$4,000,000 to $4,999,999 1402 1130 81 157 34
$5,000,000 to $7,499,999 2558 2092 166 265 34
$7,500,000 to $9,999,999 1192 921 98 166 7
$10,000,000 to $12,499,999 916 601 231 60 24
$12,500,000 to $14,999,999 457 329 60 62 6
$15,000,000 to $19,999,999 477 397 32 45 3
$20,000,000 or more 491 390 49 34 17
Not reported 651 512 30 99 11
Median 3069938 3110800 3607557 2401153 3737073
Mean 4877939 4867113 5940616 4086569 6139590

Traditional First Mortgage Outstanding
Debt

Less than $500,000
1936 1418 156 344 18
$500,000 to $999,999 1888 1345 154 347 42
$1,000,000 to $1,499,999 2145 1707 122 278 39
$1,500,000 to $1,999,999 1745 1394 142 192 17
$2,000,000 to $2,499,999 2074 1771 144 154 5
$2,500,000 to $2,999,999 1365 1208 67 85 5
$3,000,000 to $3,999,999 2235 1817 115 247 56
$4,000,000 to $4,999,999 1153 995 39 92 27
$5,000,000 to $7,499,999 1994 1611 137 225 21
$7,500,000 to $9,999,999 1003 768 93 132 10
$10,000,000 to $12,499,999 792 475 233 71 14
$12,500,000 to $14,999,999 393 304 53 33 2
$15,000,000 to $19,999,999 410 337 31 40 2
$20,000,000 or more 309 243 27 21 17
Not reported 643 507 30 95 11
Median 2483700 2525668 2784592 1922196 3210041
Mean 4091597 4065746 5069933 3489759 5108616

Total Mortgage Outstanding Debt

Less than $500,000
1846 1343 149 336 18
$500,000 to $999,999 1724 1225 148 315 35
$1,000,000 to $1,499,999 2116 1670 132 277 37
$1,500,000 to $1,999,999 1746 1403 138 188 17
$2,000,000 to $2,499,999 2067 1801 107 154 6
$2,500,000 to $2,999,999 1092 938 70 76 8
$3,000,000 to $3,999,999 2519 2114 102 245 57
$4,000,000 to $4,999,999 1259 1021 89 124 25
$5,000,000 to $7,499,999 1993 1628 117 225 23
$7,500,000 to $9,999,999 1059 800 109 138 11
$10,000,000 to $12,499,999 809 504 220 71 14
$12,500,000 to $14,999,999 420 323 54 40 2
$15,000,000 to $19,999,999 466 371 48 44 2
$20,000,000 or more 343 267 29 29 18
Not reported 627 491 30 95 11
Median 2605391 2640518 3124929 2048783 3259480
Mean 4206606 4171341 5383809 3553983 5198664

Current Interest Rate on First Mortgage

Less than 6.0 percent
7619 5300 995 1104 220
6.0 percent 123 67 5 51 0
6.1 to 6.4 percent 253 226 6 22 0
6.5 to 6.9 percent 813 765 30 18 0
7.0 percent 2055 1860 15 180 0
7.1 to 7.4 percent 597 517 31 49 0
7.5 to 7.9 percent 1472 1226 124 102 20
8.0 percent 368 327 22 18 1
8.1 to 8.4 percent 774 590 90 94 0
8.5 to 8.9 percent 597 428 46 113 10
9.0 percent 628 589 19 15 5
9.1 to 9.4 percent 304 272 15 16 0
9.5 to 9.9 percent 242 146 41 48 6
10.0 percent 115 59 2 43 11
10.1 to 10.4 percent 96 59 31 4 2
10.5 to 10.9 percent 212 189 0 23 0
11.0 percent 117 117 0 0 0
11.1 to 12.9 percent 234 163 50 19 1
13.0 percent 51 51 0 0 0
13.1 percent or more 3416 2950 20 437 8
Not reported 0 0 0 0 0
Median 7.1 7.1 4.7 6.5 3.9

Type of Interest Rate Buydown

Properties with interest rate
buydown
80 79 0 1 0
Constant payment 17 17 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 4 4 0 0 0
Not reported 59 58 0 1 0
Properties without interest
rate buydown
5625 4383 480 684 78
Not reported 14381 11438 1063 1673 207

Term of First Mortgage

Less than 5 years
222 27 72 105 18
5 years 263 130 62 64 7
6 to 9 years 219 147 46 26 0
10 years 1708 1326 207 169 5
11 to 14 years 124 68 29 24 2
15 years 520 334 18 159 9
16 to 19 years 400 376 11 8 5
20 years 329 235 26 54 14
21 to 24 years 50 46 0 5 0
25 years 209 189 0 17 4
26 to 29 years 89 89 0 0 0
30 years 2752 2299 124 295 34
More than 30 years 891 882 5 3 0
No stated term 12310 9751 943 1428 187
Median 25 30 11 15 20

Unexpired Term of First Mortgage

Less than 5 years
848 474 180 160 33
5 to 9 years 2404 1938 214 229 23
10 to 14 years 1170 937 76 149 8
15 to 19 years 559 399 12 146 3
20 to 24 years 709 632 14 54 10
25 to 29 years 1561 1282 100 167 12
30 or more years 535 498 3 24 10
No stated term or not computed 12300 9741 943 1428 187
Median 13 14 8 13 8

Holder of First Mortgage

Commercial bank or trust company
3452 2223 358 779 92
Savings and loan association, federal
savings bank
1842 1196 179 439 28
Mutual savings bank 161 101 21 38 0
Life insurance company 938 786 77 67 8
Mortgage banker or mortgage company 147 125 1 17 4
Federally-sponsored secondary market
agency or pool
8498 7038 672 702 86
Conventional mortgage pool 212 175 31 7 0
Other federal agency 1297 1185 50 41 21
Real estate investment trust 61 45 16 0 0
Pension or retirement fund 176 142 19 15 0
Credit union 718 649 13 50 6
Finance company 324 263 10 43 8
State or municipal government or
housing finance agency
1169 1043 55 62 9
Individual or individual's estate 393 342 15 27 9
Other 700 587 26 72 15

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
12838 10322 840 1476 199
Less than 40 percent 563 363 103 88 9
40 to 49 percent 382 305 25 50 2
50 to 59 percent 660 534 29 90 7
60 to 69 percent 1277 1063 75 110 29
70 to 79 percent 1807 1404 144 234 26
80 to 89 percent 1960 1515 171 237 38
90 to 94 percent 694 596 28 67 3
95 to 99 percent 680 599 33 42 6
100 percent or more 4310 3534 212 493 71
Not reported 505 411 22 65 8
Median 88 88 82 86 86
Other properties 7248 5578 703 882 86
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
12838 10322 840 1476 199
Less than 40 percent 379 217 100 61 1
40 to 49 percent 271 189 29 51 2
50 to 59 percent 390 308 16 58 9
60 to 69 percent 3455 2928 208 271 48
70 to 79 percent 2095 1595 165 298 37
80 to 89 percent 1724 1312 139 230 43
90 to 94 percent 633 545 25 55 8
95 to 99 percent 437 364 23 44 5
100 percent or more 2953 2455 113 345 40
Not reported 500 408 22 63 7
Median 78 78 73 79 80
Other properties 7248 5578 703 882 86
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
1617 1465 41 78 32
Not subprime loan 18469 14435 1502 2279 253
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
2640 0 0 2358 282
Treasury security 151 0 0 151 0
Average cost of funds in bank district 217 0 0 217 0
National average cost of funds 8 0 0 8 0
OTS contract mortgage rate 0 0 0 0 0
Other method 400 0 0 355 44
No index used 42 0 0 21 21
Not reported 1822 0 0 1606 216
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
2640 0 0 2358 282
Monthly 221 0 0 204 17
Every 3 months 8 0 0 7 1
Every 6 months 145 0 0 145 0
Yearly 142 0 0 142 0
Every 3 years 58 0 0 58 0
Every 5 years 150 0 0 150 0
Other 81 0 0 50 31
Not reported 1834 0 0 1601 233
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
2640 0 0 2358 282
Less than 1 percent 6 0 0 6 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 47 0 0 47 0
2 percent 45 0 0 45 0
2.1 to 2.9 percent 82 0 0 82 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 47 0 0 47 0
4.0 percent or more 6 0 0 6 0
No caps 585 0 0 529 56
Not reported 1822 0 0 1595 226
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
2640 0 0 2358 282
Less than 1 percent 1 0 0 1 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 5 0 0 5 0
2 percent 1 0 0 1 0
2.1 to 2.9 percent 3 0 0 3 0
3 percent 5 0 0 5 0
3.1 to 3.9 percent 5 0 0 5 0
4.0 percent or more 215 0 0 215 0
No caps 581 0 0 526 55
Not reported 1824 0 0 1597 227
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
2640 0 0 2358 282
Yes, rate has changed 533 0 0 497 36
No change since mortgage made 297 0 0 272 25
Not reported 1809 0 0 1589 221
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
2640 0 0 2358 282
Less than 1 percent 37 0 0 28 9
1 percent 0 0 0 0 0
1.1 to 1.9 percent 80 0 0 75 5
2 percent 29 0 0 29 0
2.1 to 2.9 percent 277 0 0 263 14
3 percent 24 0 0 24 0
3.1 to 3.9 percent 104 0 0 104 0
4 percent 10 0 0 7 4
4.1 to 4.9 percent 36 0 0 36 0
5 percent or more 65 0 0 59 5
Not reported 1979 0 0 1733 246
Median 2.7 0.0 0.0 2.7 2.4
Other properties 17446 15900 1543 0 3
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
2640 0 0 2358 282
Can be converted 42 0 0 34 7
Cannot be converted 715 0 0 662 52
Not reported 1883 0 0 1661 222
Other properties 17446 15900 1543 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
132 0 0 122 10
Payments can change monthly 9 0 0 9 0
Payments can change every three months 1 0 0 0 1
Payments can change every six months 6 0 0 6 0
Payments can change yearly 26 0 0 19 7
Payments can change every 3 years 38 0 0 38 0
Payments can change every 5 years 39 0 0 39 0
Other 13 0 0 11 2
Not reported 0 0 0 0 0
Monthly payments cannot
change
18056 15900 1543 565 47
Not reported 1899 0 0 1671 228

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
132 0 0 122 10
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 132 0 0 122 10
Not reported 0 0 0 0 0
Monthly payments cannot change 18056 15900 1543 565 47
Not reported 1899 0 0 1671 228

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
18756 14958 1454 2107 237
Interest and principal 18581 14857 1441 2057 226
Fully amortized 14354 12355 41 1771 187
Not fully amortized 4227 2502 1400 286 39
Interest only 174 101 13 50 11
No regular payments required 167 54 25 47 41
Not reported 1164 888 64 204 7

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
18581 14857 1441 2057 226
Real estate taxes 4138 3553 230 354 1
Property insurance 3505 3124 156 221 5
Mortgage insurance 1288 1239 0 49 0
Other 2708 2496 129 82 1
No items included or not reported 14326 11204 1198 1701 222
No regular payments of interest
and principal
1505 1043 102 301 59

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
19919 15846 1518 2311 244
Less than $100 4117 3154 318 605 40
$100 to $199 6135 4902 479 685 70
$200 to $299 5031 4222 238 473 99
$300 to $399 1997 1472 326 193 6
$400 to $499 801 627 74 89 12
$500 to $599 189 177 4 4 4
$600 to $699 81 51 4 22 4
$700 to $799 86 79 0 6 1
$800 to $899 58 55 2 1 0
$900 to $999 22 16 1 5 0
$1,000 to $1,249 33 32 0 1 0
$1,250 to $1,499 40 38 0 2 0
$1,500 or more 165 134 9 21 2
Not reported 1164 888 64 204 7
Median 186 188 185 166 209
Mean 230 233 220 214 226
No regular payments required 167 54 25 47 41

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
19919 15846 1518 2311 244
Up-to-date, ahead of schedule, or
less than 90 days past due
5943 4746 473 685 40
Delinquent by 90 days or more 56 18 2 32 4
Legal proceedings have begun 9 7 2 0 0
Legal proceedings have not begun 47 11 0 32 4
Not reported 0 0 0 0 0
Not reported 13920 11082 1044 1594 200
Other properties 167 54 25 47 41

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
19919 15846 1518 2311 244
Less than $100 5072 3863 363 801 45
$100 to $199 6126 4928 449 676 73
$200 to $299 4795 3954 265 477 99
$300 to $399 2329 1774 344 206 4
$400 to $499 838 666 73 87 12
$500 to $599 226 213 4 4 4
$600 to $699 110 78 6 22 4
$700 to $799 88 80 0 8 0
$800 to $899 61 58 2 1 0
$900 to $999 24 16 2 5 1
$1,000 to $1,249 34 32 0 1 1
$1,250 to $1,499 40 38 0 2 0
$1,500 or more 177 145 9 21 2
Not reported 0 0 0 0 0
Median 180 182 188 152 205
Mean 225 229 218 197 226
No regular payments required 167 54 25 47 41

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

Acquired before 2000 and
regular payments of interest
and/or princi
16538 13184 1305 1867 182
Less than 20 percent 2019 1553 171 268 26
20 to 29 percent 3316 2688 225 367 36
30 to 39 percent 3924 3262 209 411 43
40 to 49 percent 2920 2399 215 282 23
50 to 59 percent 1965 1460 300 186 20
60 to 69 percent 969 790 87 82 10
70 to 79 percent 389 268 22 87 12
80 to 89 percent 182 154 19 9 1
90 to 99 percent 127 78 1 47 0
100 percent or more 699 510 51 127 11
Not reported or not computed 27 21 5 1 0
Median 37 37 42 37 37
Other properties 3549 2716 238 490 103

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

Acquired before 2000 and regular
payments of interest and/or
principal
16543 13185 1305 1867 185
Less than 20 percent 1860 1405 164 265 26
20 to 29 percent 3249 2669 183 360 37
30 to 39 percent 3616 2939 252 381 43
40 to 49 percent 3248 2716 212 296 24
50 to 59 percent 1968 1452 287 208 21
60 to 69 percent 1034 833 108 84 10
70 to 79 percent 458 337 22 86 12
80 to 89 percent 181 152 19 9 1
90 to 99 percent 166 117 1 47 0
100 percent or more 736 544 51 130 11
Not reported or not computed 27 21 5 1 0
Median 39 39 42 38 37
Other properties 3543 2715 238 490 100

Real Estate Tax Per $1,000 Value

Acquired before 2000
17660 14027 1389 2024 220
Less than $5 2242 1893 146 188 15
$5 to $9 3375 2701 199 441 35
$10 to $14 5386 4156 592 553 85
$15 to $19 2997 2508 143 294 52
$20 to $24 1418 1105 105 196 12
$25 to $29 777 628 72 66 11
$30 to $39 1181 822 121 229 9
$40 to $49 0 0 0 0 0
$50 to $59 4 0 4 0 0
$60 or more 9 3 0 6 0
Not reported or not computed 270 211 7 52 2
Median 13 13 13 13 14
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
17660 14027 1389 2024 220
Less than 5 percent 4368 3605 304 415 43
5 to 9 percent 8385 6593 728 946 118
10 to 14 percent 3604 2811 305 445 43
15 to 19 percent 522 406 23 87 6
20 to 24 percent 189 153 12 24 0
25 to 29 percent 44 27 2 9 7
30 to 34 percent 17 17 0 0 0
35 to 39 percent 27 3 0 24 0
40 percent or more 205 178 4 21 1
Not reported or not computed 299 233 12 53 2
Median 8 7 8 8 8
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Property Management

Property managed by paid property
management company
17415 13739 1372 2066 239
Property not managed by paid property
management company
1410 1151 59 168 33
Not reported 1261 1010 113 124 14

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
17660 14027 1389 2024 220
Less than $100 560 509 16 34 1
$100 to $199 871 602 76 178 15
$200 to $299 1854 1462 123 242 28
$300 to $399 2605 2018 261 301 25
$400 to $499 1557 1241 85 206 24
$500 to $599 852 588 107 134 23
$600 to $699 608 507 65 35 1
$700 to $799 914 816 26 72 1
$800 to $899 564 482 19 54 8
$900 to $999 510 427 30 28 25
$1,000 to $1,249 1284 1011 96 164 12
$1,250 to $1,499 995 715 147 130 4
$1,500 to $1,999 745 639 45 47 13
$2,000 to $2,499 140 118 8 11 3
$2,500 or more 593 547 20 18 8
No expenses 707 479 75 152 2
Not reported or not computed 2300 1864 192 218 26
Median 492 502 501 435 513
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
17660 14027 1389 2024 220
Less than $100 996 693 177 124 3
$100 to $199 713 531 29 141 12
$200 to $299 1086 862 55 164 6
$300 to $399 1165 968 78 107 13
$400 to $499 1404 1030 184 174 17
$500 to $599 1186 915 90 158 23
$600 to $699 1666 1386 101 157 22
$700 to $799 961 789 53 110 9
$800 to $899 864 648 85 112 19
$900 to $999 703 583 46 71 4
$1,000 to $1,249 2109 1779 49 256 26
$1,250 to $1,499 860 709 36 102 13
$1,500 to $1,999 802 620 83 88 12
$2,000 to $2,499 268 181 62 19 5
$2,500 or more 284 211 47 24 1
No expenses 155 142 10 2 1
Not reported or not computed 2437 1981 205 216 34
Median 659 669 571 623 688
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
17660 14027 1389 2024 220
Less than $250 2162 1767 166 217 12
$250 to $499 5437 4209 531 640 58
$500 to $749 3667 2868 244 499 56
$750 to $999 2329 1926 123 249 31
$1,000 to $1,249 762 584 70 90 18
$1,250 to $1,499 379 304 29 41 5
$1,500 to $1,749 246 232 1 9 4
$1,750 to $1,999 127 111 6 10 0
$2,000 to $2,499 42 39 2 1 0
$2,500 or more 76 49 15 12 0
No expenses 143 80 8 55 0
Not reported or not computed 2291 1860 194 201 36
Median 501 506 451 514 599
Acquired 2000 and 2001 (part) 2426 1873 154 333 65

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