U.S. Department of Commerce

Residential Finance Survey

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Residential Finance Survey: 2001 - South
Table 7-3d. Mortgage Insurance Status, 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.
@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

50-or-more housing properties
with traditional first mortgage
20086 2351 1564 1736 14435

PROPERTY CHARACTERISTICS


Property Location by Geographic Area

Inside MAs
18160 1808 1298 1648 13406
In central cities 10861 1094 713 1128 7926
Not in central cities 7299 713 585 520 5480
Outside MAs 1926 544 266 88 1029

Number of Housing Units

50 to 74 housing units
3987 307 436 315 2929
75 to 99 housing units 2315 412 145 204 1554
100 to 149 housing units 4521 744 291 270 3215
150 to 199 housing units 2832 309 135 168 2219
200 to 299 housing units 3552 357 409 300 2486
300 to 499 housing units 2399 165 109 448 1676
500 to 999 housing units 438 49 36 25 327
1,000 or more housing units 42 8 3 4 27

Manner of Acquisition

By purchase
18005 2213 1484 1606 12703
Placed one new mortgage 14418 1830 1179 1332 10078
Placed two or more new mortgages 913 106 109 53 645
Assumed mortgage(s) already on property 1712 186 133 135 1257
Assumed mortgage(s) already on property
and placed new mortgage
276 33 11 26 206
Borrowed using assets other than this
property as collateral
169 20 7 26 116
Paid all cash-no borrowing 353 19 30 28 277
Other manner 163 19 14 6 125
By inheritance or gift 90 11 3 23 53
By divorce 4 4 0 0 0
By tax free exchange of
other property
121 13 5 32 70
By foreclosure or assignment 185 5 3 2 175
By some other manner 621 20 15 17 569
Not reported 1060 84 54 56 865

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
8834 986 641 648 6559
Sale of stock or other partnership
shares for this project
1628 118 77 163 1270
Sale of previously owned stocks,
shares, or other securities
176 9 14 6 148
Sale of land or other real estate 630 43 34 81 472
Owner's cash, bank deposits,
share accounts, or bonds
3868 324 224 306 3014
Borrowing from a retirement plan 17 0 0 4 13
Borrowing using assets other than this
property as collateral
401 37 2 50 312
Proceeds from an insurance policy 15 0 0 0 15
From a state or local government source 95 9 14 1 71
From a non-profit organization 114 5 18 16 75
Proceeds from sale of tax credits 247 10 23 22 192
From parents or relatives 53 0 0 24 29
Other cash source 316 42 14 21 240
Non-cash source 76 9 9 3 56
No downpayment required 934 305 52 20 557
Not reported 1163 176 228 50 709
Other properties 10683 1339 896 1067 7381
Not reported 569 26 27 21 495

Year Property Acquired

1999 to 2001 (part)
4117 630 269 305 2913
1997 and 1998 3891 263 144 278 3205
1995 and 1996 2008 146 266 126 1470
1990 to 1994 2831 326 270 207 2028
1985 to 1989 2589 201 142 540 1706
1980 to 1984 2152 401 192 134 1425
1975 to 1979 1146 254 187 77 628
1970 to 1974 870 99 66 33 672
1969 or earlier 483 31 28 37 387

Building and Land Acquisition

Acquired at same time
13997 1676 958 1360 10005
Not acquired at same time 4829 547 551 284 3447
Land not owned by building owner 134 6 6 18 105
Not reported 1126 123 50 75 878

Property New or Previously Owned When
Acquired

Acquired by purchase
18005 2213 1484 1606 12703
New 6748 1032 784 468 4464
Previously owned 11036 1160 675 1079 8122
As residential property 10044 1102 666 731 7545
Converted from nonresidential use 991 57 9 348 577
Other 103 13 3 43 45
Not reported 119 9 22 15 73
Other properties 1021 54 26 74 867
Not reported 1060 84 54 56 865

Year Structure Built

1999 to March 2000
893 321 39 44 489
1997 and 1998 1481 100 58 104 1219
1995 and 1996 865 39 200 53 573
1990 to 1994 1038 100 141 115 682
1980 to 1989 5936 738 509 474 4214
1970 to 1979 6117 746 456 819 4096
1960 to 1969 2576 207 101 96 2172
1950 to 1959 752 18 29 15 691
1940 to 1949 206 47 9 7 144
1939 or earlier 222 35 23 9 155

Purchase Price Per Housing Unit@8

Properties acquired by
purchase 1997 to 2001 (part)
7027 845 376 533 5272
Less than $20,000 2464 467 80 153 1764
$20,000 to $39,999 2293 201 138 212 1741
$40,000 to $59,999 1408 98 116 69 1125
$60,000 to $79,999 611 37 30 71 474
$80,000 to $99,999 141 36 9 7 88
$100,000 to $124,999 40 2 0 3 35
$125,000 to $149,999 34 1 0 2 31
$150,000 to $174,999 21 0 4 13 4
$175,000 to $199,999 2 1 0 0 1
$200,000 to $249,999 3 0 0 2 2
$250,000 to $299,999 4 2 0 1 1
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 5 0 0 0 5
Median 29156 18077 35722 30702 30020
Mean 33451 23845 38149 38359 34158
Other properties 13059 1506 1188 1202 9163

Value

Less than $1,000,000
1253 361 120 158 614
$1,000,000 to $1,999,999 2554 271 275 173 1835
$2,000,000 to $2,999,999 2610 323 276 204 1806
$3,000,000 to $3,999,999 2575 320 99 153 2003
$4,000,000 to $4,999,999 1485 129 106 76 1174
$5,000,000 to $7,499,999 3982 311 194 564 2912
$7,500,000 to $9,999,999 1526 188 92 76 1171
$10,000,000 to $14,999,999 2034 216 112 192 1514
$15,000,000 to $19,999,999 785 119 52 25 590
$20,000,000 to $29,999,999 852 82 209 81 480
$30,000,000 to $39,999,999 238 12 12 14 200
$40,000,000 to $49,999,999 74 7 8 7 51
$50,000,000 or more 118 12 10 13 83
Median 4707860 3688610 4115526 5458720 4817211
Mean 6958452 6137625 7595862 7261911 6986588

Value Per Housing Unit@8

Less than $20,000
4178 664 280 353 2880
$20,000 to $39,999 8450 992 713 910 5835
$40,000 to $59,999 4368 364 314 247 3443
$60,000 to $79,999 1698 170 73 135 1320
$80,000 to $99,999 747 79 160 34 473
$100,000 to $124,999 353 58 10 16 269
$125,000 to $149,999 134 10 1 4 118
$150,000 to $174,999 38 1 1 17 19
$175,000 to $199,999 14 4 0 1 9
$200,000 to $249,999 63 0 7 8 48
$250,000 to $299,999 11 0 0 0 11
$300,000 to $499,999 27 8 0 9 10
$500,000 or more 6 0 5 0 1
Median 33882 30316 34073 31310 34866
Mean 38848 35133 40732 36421 39541

Purchase Price as Percent of Value@8

Acquired by purchase
18005 2213 1484 1606 12703
Purchased 1997 to 2001 (part) 7027 845 376 533 5272
Less than 60 percent 707 171 23 66 446
60 to 69 percent 457 38 24 13 381
70 to 79 percent 949 293 24 39 593
80 to 99 percent 2543 133 120 160 2129
100 percent or more 2371 210 184 254 1723
Median 91 77 99 98 91
Purchased 1990 to 1996 (part) 4363 432 524 306 3101
Less than 40 percent 300 23 13 18 245
40 to 59 percent 584 63 40 24 457
60 to 79 percent 913 85 77 46 705
80 to 99 percent 1081 127 54 110 790
100 percent or more 1475 135 339 99 902
Median 87 87 2353 91 84
Purchased 1989 or earlier 6615 936 583 767 4329
Less than 20 percent 151 20 16 14 102
20 to 39 percent 563 19 59 102 383
40 to 59 percent 1215 120 110 378 607
60 to 79 percent 939 143 93 55 648
80 to 99 percent 1364 136 90 84 1054
100 percent or more 2376 498 214 131 1533
Median 86 475 83 54 88
Not acquired by purchase 2081 138 81 130 1732

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
13499 1353 1143 1298 9706
Less than $50,000 2961 384 342 292 1943
$50,000 to $99,999 1900 234 108 160 1398
$100,000 to $249,999 4492 394 431 244 3422
$250,000 to $499,999 1866 175 114 159 1418
$500,000 to $749,999 1148 81 75 381 611
$750,000 to $999,999 312 29 16 21 246
$1,000,000 to $1,499,999 329 19 15 15 280
$1,500,000 to $1,999,999 132 11 9 6 106
$2,000,000 to $2,999,999 130 8 10 10 102
$3,000,000 or more 231 17 23 11 180
Median 163104 122098 142235 221286 166314
Mean 393188 271006 359971 510096 398494
Properties with no capital
improvements between 1998 and 2000
2986 557 146 208 2076
Capital improvements not
reported
3601 442 276 231 2653

Value of Capital Improvements Per Unit

Properties with capital
improvements between 1998
and 2000
13499 1353 1143 1298 9706
Less than $500 3896 477 313 351 2755
$500 to $999 2879 334 421 209 1915
$1,000 to $2,499 4635 331 290 620 3394
$2,500 to $4,999 1249 157 71 71 950
$5,000 to $7,499 348 23 12 27 287
$7,500 to $9,999 164 11 4 5 144
$10,000 to $14,999 106 8 13 5 79
$15,000 to $19,999 54 3 0 0 51
$20,000 to $29,999 53 2 9 3 40
$30,000 or more 115 7 10 7 91
Median 996 798 807 1214 1081
Mean 2239 1537 2393 2024 2347
Properties with no capital
improvements between 1998 and 2000
2986 557 146 208 2076
Capital improvements not
reported
3601 442 276 231 2653

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
17660 1948 1417 1553 12742
Less than $100 719 116 56 140 407
$100 to $199 911 28 46 24 813
$200 to $299 1233 140 220 62 811
$300 to $399 2931 227 270 563 1871
$400 to $499 3562 543 225 239 2555
$500 to $599 3045 365 160 239 2281
$600 to $799 1852 184 289 92 1288
$800 to $999 2135 248 114 129 1645
$1000 or more 1240 95 35 65 1045
No rental receipts 33 4 1 0 27
Median 485 485 451 398 496
Mean 570 733 507 481 563
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Rental Receipts as Percent of Value@8

Acquired before 2000
17660 1948 1417 1553 12742
Less than 5 percent 394 41 7 27 320
5 to 9 percent 814 85 85 57 587
10 to 14 percent 4922 585 567 436 3333
15 to 19 percent 4526 431 345 329 3420
20 to 24 percent 3292 441 195 501 2155
25 to 29 percent 1838 141 83 88 1526
30 to 39 percent 1005 111 106 68 719
40 percent or more 841 109 27 47 658
Median 18 18 16 19 18
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
17660 1948 1417 1553 12742
Less than 1.0 percent 1745 228 166 112 1239
1.0 to 2.9 percent 2261 266 228 157 1611
3.0 to 4.9 percent 2479 349 178 133 1820
5.0 to 6.9 percent 1950 226 128 165 1431
7.0 to 8.9 percent 1796 116 126 117 1437
9.0 to 10.9 percent 956 105 39 98 714
11.0 to 12.9 percent 650 48 191 39 372
13.0 to 14.9 percent 373 36 33 29 276
15.0 percent or more 2054 154 43 457 1400
Not reported or not computed 3395 421 285 246 2443
Median 5.7 4.5 4.9 8.5 5.7
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Age Restrictions

Property restricted to people
age 55 or older
2548 288 229 134 1897
Property not restricted to people
age 55 or older
16542 1983 1247 1554 11757
Not reported 996 80 88 47 781

Age Composition

Over one-half the residents of the
building age 55 or older
991 362 74 29 526
Over one-half the residents of the
building not age 55 or older
15035 1553 1180 1435 10866
Not reported 4060 436 310 271 3043

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

Property provides meal service
1469 176 81 81 1131
Charge included in rent 791 115 50 54 573
Charge not included in rent 153 21 17 11 103
Not reported 524 40 13 16 455
Property does not provide meal
service
2011 462 213 150 1185
Not reported 16607 1713 1271 1505 12119

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1448 226 267 93 863
Government rental subsidy 4155 664 393 279 2819
Government grant 181 20 11 36 113
Property tax relief 417 43 34 19 321
Federal income tax credit for
low-income, old or historic properties
985 83 137 111 653
Accelerated federal income tax
depreciation for low- and
moderate-income properties
95 35 19 2 39
Subsidy from a non-profit corporation 187 12 13 9 153
None of the above benefits 12462 1319 781 1186 9176
Not reported 2013 159 220 131 1503

Source of Property Benefits@1

With property benefits
5611 873 563 418 3756
Federal government 4698 820 509 325 3045
State government 464 72 36 23 332
Local government 702 24 22 78 578
Non-profit corporation 187 12 13 9 153
Not reported 94 20 11 10 53
With no property benefits 12462 1319 781 1186 9176
Not reported 2013 159 220 131 1503

Reason for Benefits@1

With property benefits
5611 873 563 418 3756
Occupied by low- or moderate-income
individuals
4840 729 459 397 3256
Occupied by elderly or disabled
individuals
2077 346 176 106 1448
A historic structure 70 9 17 2 41
Located in a community development or
economic development area
172 49 11 5 107
Covered by a Homestead Exemption 29 0 0 3 26
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 5 0 0 0 5
Other reason 130 33 0 3 94
Not reported 161 45 16 0 99
With no property benefits 12462 1319 781 1186 9176
Not reported 2013 159 220 131 1503

Section 8 Rental Housing Certificates
and Vouchers

Property did or does have tenants
receiving Section 8 assistance
6602 864 833 435 4471
Property has never had tenants
receiving Section 8 assistance
11678 1313 646 1163 8556
Not reported 1806 174 86 138 1408

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
1904 190 73 180 1461
Limited partnership 10922 1543 1126 739 7514
Joint venture 276 18 19 7 232
General partnership 972 111 69 92 700
Life insurance company 45 3 0 7 35
Depository institution 5 0 0 0 5
Public real estate investment trust 527 50 26 53 398
Private real estate investment trust 98 0 0 0 98
Corporation - other than real estate
investment trust
3423 245 163 551 2464
Housing cooperative organization 434 44 0 1 390
Non-profit or church-related institution 1119 122 55 75 866
Pension fund 23 3 1 1 18
Fraternal organization 0 0 0 0 0
Other 337 23 31 31 253

MORTGAGE CHARACTERISTICS


Number of Mortgages

1 mortgage
17879 2108 1396 1580 12795
2 mortgages 1839 206 137 117 1380
3 or more mortgages 368 37 31 39 260

Form of Debt of First Mortgage

Mortgage or deed of trust
20086 2351 1564 1736 14435
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
33 2 0 5 26
By telephone or FAX 2673 447 145 169 1912
By regular mail 2228 211 337 133 1546
By personal visit 6065 670 398 545 4451
Through third party (such as real
estate agent or builder)
4570 413 334 564 3258
Some other way 1068 149 40 52 827
Not reported 2350 318 233 153 1646
Not available 1098 140 76 114 769

Origin of First Mortgage

Mortgage made at time property acquired
12408 1746 1012 1274 8377
Mortgage assumed at the time property
acquired
2111 185 127 168 1631
Mortgage placed later than acquisition of
property
5567 421 425 294 4427
Refinanced mortgage 5141 393 255 260 4233
Same lender 1063 90 59 34 881
Different lender 4078 303 196 226 3352
Mortgage placed on property
owned free and clear of debt
426 27 170 34 195
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 421 425 294 4427
Obtain lower interest rate 2182 158 116 152 1757
Increase payment period for mortgage 292 12 19 4 257
Reduce payment period for mortgage 13 4 0 0 9
Renew or extend loan that had fallen
due, without increasing outstanding
balance
519 35 22 31 432
Receive cash or increase outstanding
balance of loan
1556 119 222 62 1152
Other reason 623 67 27 32 498
Not reported 382 27 19 14 322
Other properties 14519 1931 1139 1442 10008
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 132 249 135 1705
Less than $1,000,000 1095 71 36 61 927
$1,000,000 to $1,999,999 436 34 25 10 367
$2,000,000 to $2,999,999 202 9 10 24 159
$3,000,000 to $3,999,999 65 4 10 3 48
$4,000,000 to $4,999,999 80 3 8 7 61
$5,000,000 to $7,499,999 42 1 6 12 23
$7,500,000 to $9,999,999 68 7 4 1 56
$10,000,000 to $14,999,999 182 2 145 9 26
$15,000,000 to $19,999,999 16 0 3 9 4
$20,000,000 to $29,999,999 10 1 0 0 9
$30,000,000 to $39,999,999 1 0 0 0 1
$40,000,000 to $49,999,999 2 0 0 0 2
$50,000,000 or more 22 0 0 0 22
Not reported 0 0 0 0 0
Median 1035123 932989 10832457 1624683 919538
Mean 3596759 1800591 7443502 3371425 3192856
Properties that refinanced
and did not receive cash back
2555 214 141 138 2063
Properties that refinanced
and did not report if received
cash back
791 75 36 20 660
Properties that did not
refinance
14519 1931 1139 1442 10008
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 132 249 135 1705
For additions, improvements or repairs
to this property
1362 103 193 66 1000
To consolidate debts 156 4 4 8 140
For investment in other real estate 824 38 55 52 678
For other types of investments 222 11 14 12 184
For educational or medical expenses 7 0 0 0 7
To start a business 5 2 3 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 33 0 0 8 25
To purchase an automobile, truck, or
other vehicle
1 0 0 0 1
To purchase consumer product other than
automobile, truck, or other vehicle
5 0 0 2 3
Other 352 12 28 21 291
Not reported 73 0 0 0 73
Properties that refinanced
and did not receive cash back
2555 214 141 138 2063
Properties that refinanced
and did not report if received
cash back
791 75 36 20 660
Properties that did not
refinance
14519 1931 1139 1442 10008
Not available 0 0 0 0 0

Purpose of Second Mortgage

Properties with second
mortgage
2059 229 148 145 1537
Provide funds for the purchase of this
property
501 84 17 43 357
Provide funds for additions,
improvements or repairs to this
property
932 115 58 55 704
Provide funds for consolidation of debts 54 0 12 10 32
Provide funds for investment in other
real estate
70 1 6 0 63
Provide funds for other types of
investments
47 1 8 0 37
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 1 0 0 0 1
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 229 19 25 12 173
Not reported 223 8 21 26 169
Other properties 18027 2122 1416 1591 12898

Purpose of Line of Credit

Properties with second
mortgage or line of credit
189 16 20 11 142
Provide funds for additions,
improvements or repairs to this
property
48 1 8 0 39
Provide funds for consolidation of debts 27 1 0 0 26
Provide funds for investment in other
real estate
18 0 0 0 18
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 17 6 0 6 6
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 17 6 2 5 4
Not reported 62 2 9 0 51
Other properties 19897 2335 1544 1725 14293

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
6467 783 540 433 4711
1997 and 1998 5134 376 224 338 4196
1995 and 1996 2219 220 114 138 1747
1990 to 1994 2379 267 253 174 1686
1985 to 1989 1359 105 121 455 677
1980 to 1984 1235 365 148 101 620
1979 or earlier 1292 234 163 97 798

Traditional First Mortgage Loan

Less than $500,000
1152 310 84 152 607
$500,000 to $999,999 1504 76 182 83 1164
$1,000,000 to $1,499,999 1994 166 340 159 1329
$1,500,000 to $1,999,999 1835 294 82 122 1337
$2,000,000 to $2,499,999 1797 232 73 99 1393
$2,500,000 to $2,999,999 1562 117 52 112 1281
$3,000,000 to $3,999,999 2366 265 94 483 1524
$4,000,000 to $4,999,999 1728 173 110 116 1329
$5,000,000 to $7,499,999 2140 250 137 153 1600
$7,500,000 to $9,999,999 1158 84 63 63 949
$10,000,000 to $12,499,999 898 80 208 53 557
$12,500,000 to $14,999,999 424 35 41 27 321
$15,000,000 to $19,999,999 450 61 42 40 307
$20,000,000 or more 427 53 32 21 321
Not reported 651 155 24 54 418
Median 2959356 2583851 2585409 3237862 2960346
Mean 4596921 4303576 5051765 4222130 4637878

Total Mortgage Loan

Less than $500,000
1094 310 84 149 551
$500,000 to $999,999 1405 69 142 78 1116
$1,000,000 to $1,499,999 1916 142 337 156 1280
$1,500,000 to $1,999,999 1770 269 87 114 1301
$2,000,000 to $2,499,999 1789 235 74 80 1400
$2,500,000 to $2,999,999 1577 128 78 109 1263
$3,000,000 to $3,999,999 2393 279 84 478 1552
$4,000,000 to $4,999,999 1402 157 99 140 1006
$5,000,000 to $7,499,999 2558 281 155 166 1956
$7,500,000 to $9,999,999 1192 86 52 61 992
$10,000,000 to $12,499,999 916 83 213 59 562
$12,500,000 to $14,999,999 457 30 49 28 351
$15,000,000 to $19,999,999 477 69 49 38 321
$20,000,000 or more 491 59 38 27 367
Not reported 651 155 24 54 418
Median 3069938 2785913 2799197 3325268 3063068
Mean 4877939 4523402 5358174 4409772 4936899

Traditional First Mortgage Outstanding
Debt

Less than $500,000
1936 369 152 200 1215
$500,000 to $999,999 1888 209 220 137 1323
$1,000,000 to $1,499,999 2145 261 302 132 1451
$1,500,000 to $1,999,999 1745 171 78 141 1355
$2,000,000 to $2,499,999 2074 189 49 95 1741
$2,500,000 to $2,999,999 1365 133 58 108 1066
$3,000,000 to $3,999,999 2235 238 114 454 1430
$4,000,000 to $4,999,999 1153 155 82 95 822
$5,000,000 to $7,499,999 1994 208 129 140 1517
$7,500,000 to $9,999,999 1003 65 70 74 794
$10,000,000 to $12,499,999 792 59 200 33 500
$12,500,000 to $14,999,999 393 59 32 24 278
$15,000,000 to $19,999,999 410 57 28 40 285
$20,000,000 or more 309 25 31 11 242
Not reported 643 155 19 54 415
Median 2483700 2233983 2200887 3066035 2478282
Mean 4091597 3729033 4607875 3707366 4137599

Total Mortgage Outstanding Debt

Less than $500,000
1846 359 150 189 1148
$500,000 to $999,999 1724 170 189 129 1237
$1,000,000 to $1,499,999 2116 252 294 140 1431
$1,500,000 to $1,999,999 1746 179 80 116 1371
$2,000,000 to $2,499,999 2067 221 79 94 1673
$2,500,000 to $2,999,999 1092 134 58 99 801
$3,000,000 to $3,999,999 2519 219 91 452 1757
$4,000,000 to $4,999,999 1259 155 105 117 881
$5,000,000 to $7,499,999 1993 234 126 158 1475
$7,500,000 to $9,999,999 1059 64 61 78 856
$10,000,000 to $12,499,999 809 59 203 29 519
$12,500,000 to $14,999,999 420 56 41 25 298
$15,000,000 to $19,999,999 466 68 34 40 325
$20,000,000 or more 343 28 38 15 262
Not reported 627 155 16 54 403
Median 2605391 2313984 2387937 3162731 2598143
Mean 4206606 3676576 4836467 3763440 4277978

Current Interest Rate on First Mortgage

Less than 6.0 percent
7619 206 548 1088 5778
6.0 percent 123 29 1 47 47
6.1 to 6.4 percent 253 71 9 0 173
6.5 to 6.9 percent 813 343 57 4 408
7.0 percent 2055 49 93 168 1745
7.1 to 7.4 percent 597 150 68 29 351
7.5 to 7.9 percent 1472 434 73 20 946
8.0 percent 368 43 55 0 271
8.1 to 8.4 percent 774 161 89 10 514
8.5 to 8.9 percent 597 66 65 4 461
9.0 percent 628 65 30 3 530
9.1 to 9.4 percent 304 68 7 4 225
9.5 to 9.9 percent 242 47 33 13 149
10.0 percent 115 0 7 0 108
10.1 to 10.4 percent 96 60 0 0 36
10.5 to 10.9 percent 212 74 120 0 18
11.0 percent 117 5 7 13 92
11.1 to 12.9 percent 234 192 30 0 11
13.0 percent 51 2 3 0 46
13.1 percent or more 3416 285 270 334 2527
Not reported 0 0 0 0 0
Median 7.1 7.9 7.5 4.8 7.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
80 58 0 0 22
Constant payment 17 0 0 0 17
3-2-1 buydown 0 0 0 0 0
Other 4 0 0 0 4
Not reported 59 58 0 0 1
Properties without interest
rate buydown
5625 697 658 142 4127
Not reported 14381 1596 906 1593 10286

Term of First Mortgage

Less than 5 years
222 4 8 7 204
5 years 263 4 10 3 246
6 to 9 years 219 0 9 5 204
10 years 1708 20 83 8 1596
11 to 14 years 124 0 5 6 113
15 years 520 45 9 32 434
16 to 19 years 400 1 3 0 396
20 years 329 0 10 14 304
21 to 24 years 50 8 7 0 35
25 years 209 4 5 5 196
26 to 29 years 89 9 5 0 75
30 years 2752 2198 74 50 429
More than 30 years 891 57 463 14 357
No stated term 12310 0 873 1591 9846
Median 25 30 48 21 13

Unexpired Term of First Mortgage

Less than 5 years
848 61 37 21 729
5 to 9 years 2404 329 75 14 1986
10 to 14 years 1170 335 74 44 717
15 to 19 years 559 78 42 62 377
20 to 24 years 709 331 45 0 333
25 to 29 years 1561 1096 102 0 363
30 or more years 535 121 317 3 94
No stated term or not computed 12300 0 873 1591 9836
Median 13 25 29 14 9

Holder of First Mortgage

Commercial bank or trust company
3452 315 151 266 2720
Savings and loan association, federal
savings bank
1842 152 105 127 1458
Mutual savings bank 161 3 14 16 129
Life insurance company 938 58 19 63 797
Mortgage banker or mortgage company 147 50 2 0 94
Federally-sponsored secondary market
agency or pool
8498 1095 654 561 6187
Conventional mortgage pool 212 65 4 0 143
Other federal agency 1297 151 455 110 581
Real estate investment trust 61 0 0 0 61
Pension or retirement fund 176 72 9 1 94
Credit union 718 82 13 386 238
Finance company 324 21 35 28 240
State or municipal government or
housing finance agency
1169 183 70 82 834
Individual or individual's estate 393 14 13 57 310
Other 700 90 21 38 551

Servicer of First Mortgage

Commercial bank or trust company
3471 231 169 224 2847
Savings and loan association, federal
savings bank
1834 145 107 127 1455
Mutual savings bank 158 3 14 16 126
Life insurance company 608 43 13 54 497
Mortgage banker or mortgage company 9484 1509 668 613 6694
Federally-sponsored secondary market
agency or pool
6 0 3 0 3
Conventional mortgage pool 69 2 4 0 64
Other federal agency 1152 54 454 110 535
Real estate investment trust 12 0 0 0 12
Pension or retirement fund 14 0 0 6 7
Credit union 718 82 13 386 238
Finance company 331 21 35 28 246
State or municipal government or
housing finance agency
1149 181 51 82 835
Individual or individual's estate 351 14 12 51 274
Other 729 66 22 38 602

Holder's Acquisition of First Mortgage

Originated directly from borrower
10384 997 474 1112 7801
Purchased from present servicer 5244 489 724 334 3698
Purchased from someone else 4458 865 366 290 2937
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
12838 1818 1072 1327 8621
Less than 40 percent 563 29 103 63 369
40 to 49 percent 382 44 103 19 216
50 to 59 percent 660 107 62 57 434
60 to 69 percent 1277 161 78 87 951
70 to 79 percent 1807 153 129 66 1460
80 to 89 percent 1960 192 94 329 1346
90 to 94 percent 694 79 48 59 509
95 to 99 percent 680 167 51 38 424
100 percent or more 4310 758 387 571 2594
Not reported 505 128 19 38 320
Median 88 97 86 92 85
Other properties 7248 534 492 409 5814
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 1818 1072 1327 8621
Less than 40 percent 379 14 73 63 229
40 to 49 percent 271 22 25 22 203
50 to 59 percent 390 35 21 14 320
60 to 69 percent 3455 638 428 158 2232
70 to 79 percent 2095 178 121 81 1715
80 to 89 percent 1724 145 73 329 1177
90 to 94 percent 633 78 61 46 448
95 to 99 percent 437 61 96 39 241
100 percent or more 2953 519 156 537 1742
Not reported 500 128 19 38 315
Median 78 78 70 89 77
Other properties 7248 534 492 409 5814
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
1617 68 35 81 1433
Not subprime loan 18469 2283 1529 1655 13002
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
12838 1818 1072 1327 8621
Less than 40 percent 366 21 66 34 245
40 to 49 percent 342 43 102 27 169
50 to 59 percent 600 74 64 54 407
60 to 69 percent 1159 152 65 77 865
70 to 79 percent 1775 155 114 66 1440
80 to 89 percent 1938 180 126 328 1304
90 to 94 percent 720 80 57 83 501
95 to 99 percent 686 157 49 38 443
100 percent or more 4746 826 412 581 2927
Not reported 505 128 19 38 320
Median 90 99 89 93 88
Other properties 7248 534 492 409 5814
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
12838 1818 1072 1327 8621
Less than 40 percent 897 70 178 87 562
40 to 49 percent 870 143 97 51 578
50 to 59 percent 1715 156 94 435 1030
60 to 69 percent 2028 194 97 137 1600
70 to 79 percent 2345 458 113 232 1542
80 to 89 percent 1630 209 112 187 1122
90 to 94 percent 557 86 70 27 374
95 to 99 percent 456 81 15 14 346
100 percent or more 1840 291 277 119 1153
Not reported 500 128 19 38 315
Median 73 76 75 65 72
Other properties 7248 534 492 409 5814
Not available 0 0 0 0 0

Total Outstanding Debt as a Percent
of Value

Less than 20 percent
967 86 69 76 735
20 to 29 percent 888 73 111 67 638
30 to 39 percent 1298 137 149 87 925
40 to 49 percent 2192 230 73 171 1719
50 to 59 percent 3711 297 324 609 2481
60 to 69 percent 3343 503 159 213 2469
70 to 79 percent 2778 310 193 181 2094
80 to 89 percent 1667 237 131 152 1147
90 to 99 percent 1220 131 125 42 922
100 percent or more 1395 193 215 85 903
Not reported or not computed 627 155 16 54 403
Median 62 65 63 57 62

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
2640 176 141 227 2096
Treasury security 151 0 0 0 151
Average cost of funds in bank district 217 0 0 47 170
National average cost of funds 8 0 0 0 8
OTS contract mortgage rate 0 0 0 0 0
Other method 400 1 20 1 377
No index used 42 0 4 0 39
Not reported 1822 175 117 179 1352
Other properties 17446 2176 1423 1509 12339
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
2640 176 141 227 2096
Monthly 221 0 9 1 211
Every 3 months 8 0 0 0 8
Every 6 months 145 0 0 47 98
Yearly 142 0 7 0 136
Every 3 years 58 0 0 0 58
Every 5 years 150 0 0 0 150
Other 81 1 13 0 67
Not reported 1834 175 112 179 1368
Other properties 17446 2176 1423 1509 12339
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
2640 176 141 227 2096
Less than 1 percent 6 0 0 1 5
1 percent 0 0 0 0 0
1.1 to 1.9 percent 47 0 0 0 47
2 percent 45 0 0 0 45
2.1 to 2.9 percent 82 0 0 0 82
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 0 6
No caps 585 1 23 0 561
Not reported 1822 175 117 179 1350
Other properties 17446 2176 1423 1509 12339
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
2640 176 141 227 2096
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 0 5
2 percent 1 0 0 0 1
2.1 to 2.9 percent 3 0 0 0 3
3 percent 5 0 0 0 5
3.1 to 3.9 percent 5 0 0 0 5
4.0 percent or more 215 0 0 0 215
No caps 581 1 23 47 510
Not reported 1824 175 117 179 1353
Other properties 17446 2176 1423 1509 12339
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
2640 176 141 227 2096
Yes, rate has changed 533 1 23 48 461
No change since mortgage made 297 0 0 0 297
Not reported 1809 175 117 179 1338
Other properties 17446 2176 1423 1509 12339
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 8 0 123
Payments can change monthly 9 0 2 0 7
Payments can change every three months 1 0 0 0 1
Payments can change every six months 6 0 0 0 6
Payments can change yearly 26 0 7 0 20
Payments can change every 3 years 38 0 0 0 38
Payments can change every 5 years 39 0 0 0 39
Other 13 0 0 0 13
Not reported 0 0 0 0 0
Monthly payments cannot
change
18056 2176 1433 1557 12891
Not reported 1899 176 123 179 1421

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
132 0 8 0 123
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 132 0 8 0 123
Not reported 0 0 0 0 0
Monthly payments cannot change 18056 2176 1433 1557 12891
Not reported 1899 176 123 179 1421

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
18756 2135 1501 1659 13461
Interest and principal 18581 2135 1469 1658 13319
Fully amortized 14354 1949 822 1587 9997
Not fully amortized 4227 186 647 71 3323
Interest only 174 0 32 1 141
No regular payments required 167 5 2 1 159
Not reported 1164 212 61 75 816

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
18581 2135 1469 1658 13319
Real estate taxes 4138 929 192 88 2928
Property insurance 3505 913 181 63 2348
Mortgage insurance 1288 876 70 74 268
Other 2708 795 169 63 1682
No items included or not reported 14326 1167 1271 1570 10317
No regular payments of interest
and principal
1505 217 95 77 1116

Monthly Interest and Principal
Payments on First Mortgage Per
Housing Unit

Regular monthly payments of
interest and/or principal
19919 2346 1562 1735 14276
Less than $100 4117 522 436 605 2554
$100 to $199 6135 846 374 468 4447
$200 to $299 5031 413 329 349 3940
$300 to $399 1997 228 274 130 1365
$400 to $499 801 66 59 74 601
$500 to $599 189 28 5 9 147
$600 to $699 81 16 2 4 60
$700 to $799 86 4 6 12 64
$800 to $899 58 0 0 0 58
$900 to $999 22 1 0 0 21
$1,000 to $1,249 33 1 3 7 22
$1,250 to $1,499 40 0 0 0 40
$1,500 or more 165 8 13 2 142
Not reported 1164 212 61 75 816
Median 186 164 184 148 194
Mean 230 189 225 174 244
No regular payments required 167 5 2 1 159

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
19919 2346 1562 1735 14276
Up-to-date, ahead of schedule, or
less than 90 days past due
5943 916 697 142 4188
Delinquent by 90 days or more 56 5 0 0 51
Legal proceedings have begun 9 0 0 0 9
Legal proceedings have not begun 47 5 0 0 42
Not reported 0 0 0 0 0
Not reported 13920 1425 865 1592 10037
Other properties 167 5 2 1 159

Monthly Interest and Principal Payments
on Total Mortgages Per Housing Unit

Regular monthly payments of
interest and/or principal
19919 2346 1562 1735 14276
Less than $100 5072 696 449 673 3254
$100 to $199 6126 870 392 473 4391
$200 to $299 4795 411 355 344 3685
$300 to $399 2329 230 275 137 1687
$400 to $499 838 69 62 74 634
$500 to $599 226 32 3 9 181
$600 to $699 110 19 2 4 86
$700 to $799 88 4 8 12 64
$800 to $899 61 0 0 0 61
$900 to $999 24 1 1 0 22
$1,000 to $1,249 34 1 3 7 23
$1,250 to $1,499 40 0 0 0 40
$1,500 or more 177 14 13 2 149
Not reported 0 0 0 0 0
Median 180 155 185 141 188
Mean 225 183 221 168 239
No regular payments required 167 5 2 1 159

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

Acquired before 2000 and
regular payments of interest
and/or princi
16538 1742 1355 1483 11958
Less than 20 percent 2019 188 262 452 1116
20 to 29 percent 3316 288 227 120 2680
30 to 39 percent 3924 471 210 288 2956
40 to 49 percent 2920 326 171 245 2178
50 to 59 percent 1965 256 237 183 1290
60 to 69 percent 969 78 90 120 681
70 to 79 percent 389 43 51 26 268
80 to 89 percent 182 18 40 3 121
90 to 99 percent 127 10 9 26 83
100 percent or more 699 61 57 18 563
Not reported or not computed 27 4 1 0 22
Median 37 38 39 36 37
Other properties 3549 609 209 253 2477

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

Acquired before 2000 and regular
payments of interest and/or
principal
16543 1743 1356 1483 11961
Less than 20 percent 1860 147 256 445 1012
20 to 29 percent 3249 313 190 118 2628
30 to 39 percent 3616 469 206 294 2646
40 to 49 percent 3248 321 181 246 2500
50 to 59 percent 1968 257 244 183 1284
60 to 69 percent 1034 77 116 121 720
70 to 79 percent 458 56 55 26 320
80 to 89 percent 181 17 40 3 119
90 to 99 percent 166 8 9 27 122
100 percent or more 736 73 57 19 587
Not reported or not computed 27 4 1 0 22
Median 39 39 41 36 39
Other properties 3543 608 208 253 2474

Real Estate Tax Per Housing Unit

Acquired before 2000
17660 1948 1417 1553 12742
Less than $100 2199 196 71 234 1698
$100 to $199 1882 232 191 54 1406
$200 to $299 2798 394 184 532 1688
$300 to $399 2707 232 250 170 2056
$400 to $499 1791 172 135 164 1320
$500 to $599 1679 181 126 102 1270
$600 to $699 1112 141 128 92 751
$700 to $799 1061 91 185 44 741
$800 to $899 605 25 39 35 505
$900 to $999 383 36 29 21 298
$1,000 to $1,249 684 79 36 56 513
$1,250 to $1,499 260 20 20 16 204
$1,500 to $1,999 153 12 11 15 116
$2,000 to $2,499 46 0 1 3 42
$2,500 or more 29 6 5 2 16
Not reported 270 133 8 13 116
Median 367 337 407 291 374
Mean 441 423 501 387 444
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Real Estate Tax Per $1,000 Value

Acquired before 2000
17660 1948 1417 1553 12742
Less than $5 2242 186 78 144 1834
$5 to $9 3375 506 250 255 2365
$10 to $14 5386 536 513 690 3648
$15 to $19 2997 300 209 240 2249
$20 to $24 1418 109 146 97 1066
$25 to $29 777 94 81 31 571
$30 to $39 1181 84 127 80 890
$40 to $49 0 0 0 0 0
$50 to $59 4 0 0 0 4
$60 or more 9 1 5 3 0
Not reported or not computed 270 133 8 13 116
Median 13 12 14 13 13
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
17660 1948 1417 1553 12742
Less than 5 percent 4368 569 181 219 3398
5 to 9 percent 8385 866 744 929 5845
10 to 14 percent 3604 301 328 337 2639
15 to 19 percent 522 36 67 31 388
20 to 24 percent 189 6 79 3 101
25 to 29 percent 44 0 1 3 40
30 to 34 percent 17 1 2 0 14
35 to 39 percent 27 0 0 0 27
40 percent or more 205 31 6 17 151
Not reported or not computed 299 137 9 13 140
Median 8 7 9 8 7
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Property Management

Property managed by paid property
management company
17415 1892 1377 1503 12643
Property not managed by paid property
management company
1410 358 97 118 838
Not reported 1261 102 90 115 954

Property Management and Administration
Expenses Per Housing Unit

Acquired before 2000
17660 1948 1417 1553 12742
Less than $100 560 10 11 45 494
$100 to $199 871 70 41 55 705
$200 to $299 1854 166 142 144 1402
$300 to $399 2605 167 342 518 1579
$400 to $499 1557 198 160 88 1111
$500 to $599 852 96 50 47 659
$600 to $699 608 71 77 41 418
$700 to $799 914 121 114 73 606
$800 to $899 564 72 76 43 373
$900 to $999 510 118 13 21 358
$1,000 to $1,249 1284 222 93 56 913
$1,250 to $1,499 995 134 37 138 687
$1,500 to $1,999 745 42 57 27 618
$2,000 to $2,499 140 30 10 8 92
$2,500 or more 593 28 4 10 551
No expenses 707 54 38 75 539
Not reported or not computed 2300 350 151 161 1639
Median 492 692 448 380 499
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Maintenance and Repair Expenses
Per Housing Unit

Acquired before 2000
17660 1948 1417 1553 12742
Less than $100 996 52 160 101 684
$100 to $199 713 35 31 36 612
$200 to $299 1086 124 94 88 781
$300 to $399 1165 79 150 111 825
$400 to $499 1404 109 66 100 1129
$500 to $599 1186 135 142 87 821
$600 to $699 1666 167 141 416 942
$700 to $799 961 149 43 66 703
$800 to $899 864 98 106 75 585
$900 to $999 703 93 47 36 527
$1,000 to $1,249 2109 215 127 91 1676
$1,250 to $1,499 860 134 109 59 559
$1,500 to $1,999 802 138 42 56 567
$2,000 to $2,499 268 47 10 22 188
$2,500 or more 284 35 13 15 220
No expenses 155 13 9 2 132
Not reported or not computed 2437 326 127 192 1792
Median 659 770 599 638 659
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

Utility and Fuel Expenses Per Housing Unit

Acquired before 2000
17660 1948 1417 1553 12742
Less than $250 2162 177 137 114 1734
$250 to $499 5437 657 668 413 3698
$500 to $749 3667 395 266 231 2775
$750 to $999 2329 236 109 421 1563
$1,000 to $1,249 762 65 42 60 595
$1,250 to $1,499 379 45 30 6 297
$1,500 to $1,749 246 36 7 21 181
$1,750 to $1,999 127 6 5 4 112
$2,000 to $2,499 42 10 6 8 18
$2,500 or more 76 9 7 8 53
No expenses 143 8 1 79 54
Not reported or not computed 2291 304 138 188 1661
Median 501 494 438 626 507
Acquired 2000 and 2001 (part) 2426 403 147 183 1693

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