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Residential Finance Survey: 2001 - United States
Table 8-2a. Type of First Mortgage, Condominium Properties
^Number of mortgaged properties in thousands.
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, 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

Homeowner condominium
properties with traditional
first mortgage
2380 1845 101 400 34

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
2151 1671 97 351 32
Placed one new mortgage 2036 1587 85 338 26
Placed two or more new mortgages 44 30 4 5 4
Assumed mortgage(s) already on property 41 23 7 8 2
Assumed mortgage(s) already on property
and placed new mortgage
9 9 0 0 0
Borrowed using assets other than this
property as collateral
9 9 0 0 0
Paid all cash-no borrowing 13 13 0 0 0
Other manner 0 0 0 0 0
By inheritance or gift 5 5 0 0 0
By divorce 2 2 0 0 0
By some other manner 49 33 2 14 0
Not reported 173 134 1 36 1

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
1446 1137 42 248 19
Sale of previous home 364 292 12 54 6
Sale of other real property or other
investments
99 57 0 40 1
Savings 838 654 24 146 14
Borrowing from a retirement plan 62 55 0 7 0
Borrowing using assets other than this
property as collateral
24 22 0 2 0
Proceeds from an insurance policy 12 11 1 0 0
Payments in a lease-purchase agreement 2 2 0 0 0
From a state or local government source 9 4 0 5 0
From a non-profit organization 7 7 0 0 0
From parents or relatives 160 132 5 23 0
Other 20 11 0 9 0
No downpayment required 55 47 2 7 0
Not reported 59 45 0 14 0
Other properties 806 614 58 120 13
Not reported 128 94 0 32 1

Year Property Acquired

1999 to 2001 (part)
896 702 18 160 16
1997 and 1998 434 341 19 73 1
1995 and 1996 272 205 5 58 4
1990 to 1994 370 280 25 59 6
1985 to 1989 234 176 17 35 7
1980 to 1984 91 80 1 10 0
1975 to 1979 58 40 15 3 0
1970 to 1974 20 18 0 2 0
1969 or earlier 4 4 0 0 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
2151 1671 97 351 32
New 479 364 18 89 8
Previously occupied by someone else 1648 1292 78 255 24
Converted from non-residential use 5 3 0 3 0
Other 0 0 0 0 0
Not reported 18 13 2 3 0
Other properties 56 40 2 14 0
Not reported 173 134 1 36 1

Year Structure Built

1999 to March 2000
109 89 1 18 0
1997 and 1998 176 110 12 54 0
1995 and 1996 145 98 0 43 4
1990 to 1994 272 218 12 39 2
1980 to 1989 784 637 15 122 10
1970 to 1979 623 461 44 101 16
1960 to 1969 136 119 8 8 2
1950 to 1959 38 34 0 3 0
1940 to 1949 25 21 0 4 0
1939 or earlier 74 59 7 8 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
1215 959 37 203 16
Less than $20,000 7 1 0 6 0
$20,000 to $39,999 31 25 1 4 0
$40,000 to $59,999 113 75 5 32 1
$60,000 to $79,999 181 146 6 25 4
$80,000 to $99,999 147 133 2 12 0
$100,000 to $124,999 177 144 0 30 3
$125,000 to $149,999 135 106 6 20 3
$150,000 to $174,999 95 72 0 23 0
$175,000 to $199,999 79 66 2 11 0
$200,000 to $249,999 81 58 5 19 0
$250,000 to $299,999 55 53 1 0 0
$300,000 to $499,999 79 53 8 13 4
$500,000 or more 34 26 0 8 0
Median 118130 117169 142301 119177 120018
Mean 153117 151286 196620 149509 209033
Other properties 1165 887 64 197 18

Value

Less than $20,000
6 6 0 0 0
$20,000 to $39,999 41 36 1 4 0
$40,000 to $59,999 118 81 10 25 1
$60,000 to $79,999 273 227 9 34 4
$80,000 to $99,999 343 268 12 50 12
$100,000 to $124,999 349 266 10 65 8
$125,000 to $149,999 259 186 21 51 2
$150,000 to $174,999 215 171 4 39 1
$175,000 to $199,999 161 132 5 25 0
$200,000 to $249,999 197 156 8 33 0
$250,000 to $299,999 127 100 4 23 0
$300,000 to $499,999 210 157 13 36 4
$500,000 or more 81 59 4 17 0
Median 130823 130142 134342 136312 99099
Mean 168966 164788 183180 185915 153824

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
801 606 19 170 6
Less than $500 35 28 0 5 2
$500 to $999 44 28 0 16 0
$1,000 to $2,499 216 159 2 52 3
$2,500 to $4,999 178 135 10 30 2
$5,000 to $7,499 136 103 5 28 0
$7,500 to $9,999 19 15 0 3 0
$10,000 to $14,999 58 44 0 14 0
$15,000 to $19,999 36 31 2 4 0
$20,000 to $29,999 16 14 0 1 0
$30,000 or more 63 47 0 16 0
Median 3987 4112 4335 3515 1664
Mean 10314 10909 4789 9136 1447
Properties with no capital
improvements between 1998 and 2000
1199 939 63 173 24
Capital improvements not
reported
381 300 19 58 3

Age Restrictions

Condominium building restricted to
people age 55 or older
99 78 3 18 0
Condominium building not restricted to
people age 55 or older
2149 1670 97 348 34
Not reported 132 97 1 34 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
38 36 0 0 1
Other government grant or subsidy 14 7 0 7 0
Property tax relief 67 54 1 12 0
Subsidy from a non-profit corporation 2 2 0 0 0
None of the above benefits 1625 1251 83 269 22
Not reported 636 497 16 112 10

Source of Property Benefits@1

With property benefits
120 98 1 19 1
Federal government 32 26 0 6 0
State government 46 37 0 9 0
Local government 40 32 1 5 1
Non-profit corporation 2 2 0 0 0
Not reported 1 1 0 0 0
With no property benefits 1625 1251 83 269 22
Not reported 636 497 16 112 10

Reason for Benefits@1

With property benefits
120 98 1 19 1
Occupied by low- or moderate-income
individuals
33 23 0 9 1
Occupied by elderly or disabled
individuals
10 8 0 1 0
A historic structure 3 3 0 0 0
Located in a community development or
economic development area
11 8 0 3 0
Covered by a Homestead Exemption 31 21 1 9 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 30 30 0 0 0
Not reported 14 14 0 0 0
With no property benefits 1625 1251 83 269 22
Not reported 636 497 16 112 10

OWNER CHARACTERISTICS


Owner Status

1 owner
1436 1101 70 244 20
2 owners 842 677 30 126 9
3 or more owners 102 68 0 30 4

Age of Owner

Under 25
48 43 0 3 2
25 to 34 373 260 25 80 8
35 to 44 428 341 15 64 8
45 to 54 566 429 14 117 7
55 to 64 425 359 16 42 7
65 to 74 250 177 19 52 1
75 and over 117 91 3 23 0
Not reported 174 146 9 18 1
Median 49 49 49 48 43

Race of Owner

White alone
2087 1588 87 382 30
Black or African American alone 100 96 1 2 0
American Indian or Alaska Native alone 7 2 0 5 0
Asian alone 166 142 10 10 3
Native Hawaiian or Other Pacific
Islander alone
5 5 0 0 0
Two or more races 15 12 2 2 0

Sex of Owner

Male/Male and female co-owners
1460 1112 56 270 21
Female 920 733 44 130 12

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
217 170 9 37 2
No Hispanic/Latino owner(s) 2163 1675 92 364 32

Veteran Status@1

Veteran
422 354 11 54 3
Active member of Reserves or National
Guard for at least 6 years
55 50 0 5 0
Persian Gulf War or after
(August 1990 to present)
35 33 2 0 0
Vietnam or after
(August 1964 to July 1990)
162 146 0 14 3
Korean conflict or after
(July 1950 to July 1964)
161 121 10 29 1
World War II or after
(September 1940 to June 1950)
78 67 0 10 0
Nonveteran 1770 1335 88 320 26
Not reported 188 156 1 26 5

Income

Less than $5,000
226 150 13 62 2
$5,000 to $9,999 13 11 1 0 0
$10,000 to $14,999 51 44 0 7 0
$15,000 to $19,999 54 42 3 9 0
$20,000 to $24,999 93 69 11 13 0
$25,000 to $29,999 118 85 2 30 1
$30,000 to $34,999 142 113 12 12 5
$35,000 to $39,999 167 140 4 21 2
$40,000 to $49,999 260 209 6 41 4
$50,000 to $59,999 225 184 5 34 2
$60,000 to $79,999 418 313 17 87 0
$80,000 to $99,999 231 180 11 30 10
$100,000 to $119,999 102 80 1 13 8
$120,000 or more 281 227 11 43 0
Median 52938 53280 43931 52214 80655
Mean 69446 70375 56223 68763 66127

Owned Home Previously

Previously owned home
1281 988 58 228 7
Never owned home before 963 744 42 153 24
Not reported 136 113 1 19 3

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
25 25 0 0 0
By telephone or FAX 245 173 16 56 0
By regular mail 45 37 4 4 0
By personal visit 1377 1091 46 213 27
Through third party (such as real
estate agent or builder)
505 397 13 90 5
Some other way 6 2 4 0 0
Not reported 143 97 18 29 0
Not available 34 23 0 8 2

Origin of First Mortgage

Mortgage made at time property acquired
2006 1555 72 348 32
Mortgage assumed at the time property
acquired
49 39 0 8 2
Mortgage placed later than acquisition of
property
325 252 29 45 0
Refinanced mortgage 301 237 21 43 0
Same lender 78 60 5 13 0
Different lender 223 177 16 30 0
Mortgage placed on property
owned free and clear of debt
24 15 7 2 0
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
325 252 29 45 0
Obtain lower interest rate 245 196 17 32 0
Increase payment period for mortgage 2 2 0 0 0
Reduce payment period for mortgage 5 3 0 2 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
16 10 0 6 0
Receive cash or increase outstanding
balance of loan
49 33 11 5 0
Other reason 2 2 0 0 0
Not reported 6 6 0 0 0
Other properties 2055 1594 72 356 34
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
95 70 11 14 0
Less than $20,000 40 32 2 6 0
$20,000 to $39,999 36 26 2 8 0
$40,000 to $59,999 8 8 0 0 0
$60,000 to $79,999 0 0 0 0 0
$80,000 to $99,999 0 0 0 0 0
$100,000 to $124,999 0 0 0 0 0
$125,000 to $149,999 7 0 7 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 4 4 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Median 24286 22204 130980 23117 20000-
Mean 33411 27554 87156 18663 0
Properties that refinanced
and did not receive cash back
209 170 15 24 0
Properties that refinanced
and did not report if received
cash back
21 12 2 8 0
Properties that did not
refinance
2055 1594 72 356 34
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
95 70 11 14 0
For additions, improvements or repairs
to this property
38 23 9 6 0
To consolidate debts 52 34 10 9 0
For investment in other real estate 7 5 0 2 0
For other types of investments 4 4 0 0 0
For educational or medical expenses 8 4 0 3 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 6 4 0 2 0
To purchase an automobile, truck, or
other vehicle
14 13 0 1 0
To purchase consumer product other than
automobile, truck, or other vehicle
5 4 2 0 0
Other 0 0 0 0 0
Not reported 5 5 0 0 0
Properties that refinanced
and did not receive cash back
209 170 15 24 0
Properties that refinanced
and did not report if received
cash back
21 12 2 8 0
Properties that did not
refinance
2055 1594 72 356 34
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
1076 836 40 184 16
1997 and 1998 484 394 17 72 1
1995 and 1996 250 184 3 59 4
1990 to 1994 349 272 19 52 6
1985 to 1989 118 75 13 23 7
1980 to 1984 51 40 1 10 0
1979 or earlier 52 45 8 0 0

First Mortgage Insurance Status

FHA-insured first mortgage
326 253 15 58 1
VA-guaranteed first mortgage 84 73 0 9 2
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
32 28 2 3 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
50 33 0 15 2
Insured conventional first mortgage 313 261 9 43 0
Uninsured conventional first mortgage 1575 1198 75 273 28
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
31 29 0 1 0
$20,000 to $29,999 108 86 1 16 4
$30,000 to $39,999 144 120 11 13 0
$40,000 to $49,999 162 121 4 27 10
$50,000 to $59,999 258 196 19 42 2
$60,000 to $79,999 447 351 25 66 5
$80,000 to $99,999 313 245 6 59 3
$100,000 to $149,999 472 370 17 82 3
$150,000 to $199,999 242 181 8 53 0
$200,000 to $249,999 68 61 0 7 0
$250,000 to $299,999 49 35 0 14 0
$300,000 or more 69 36 8 20 4
Not reported 16 13 0 1 2
Median 81972 80946 71947 91942 57353
Mean 102099 98695 105677 116253 109242

Total Mortgage Loan

Less than $20,000
29 27 0 1 0
$20,000 to $29,999 104 82 1 16 4
$30,000 to $39,999 142 118 11 13 0
$40,000 to $49,999 141 108 4 25 4
$50,000 to $59,999 246 182 19 43 2
$60,000 to $79,999 473 372 25 66 10
$80,000 to $99,999 295 228 6 56 5
$100,000 to $149,999 478 389 17 68 3
$150,000 to $199,999 249 172 8 69 0
$200,000 to $249,999 67 60 0 7 0
$250,000 to $299,999 69 54 0 14 0
$300,000 or more 71 38 8 20 4
Not reported 16 13 0 1 2
Median 83169 82252 71947 92539 72207
Mean 104851 101599 105677 118871 113584

Traditional First Mortgage Outstanding
Debt

Less than $10,000
66 64 0 2 0
$10,000 to $19,999 78 64 0 14 0
$20,000 to $29,999 119 96 9 11 4
$30,000 to $39,999 153 122 9 16 7
$40,000 to $49,999 244 179 12 44 8
$50,000 to $59,999 203 146 17 40 0
$60,000 to $79,999 442 355 18 66 3
$80,000 to $99,999 285 226 9 48 3
$100,000 to $149,999 424 317 17 87 3
$150,000 to $199,999 194 159 2 33 0
$200,000 to $249,999 62 51 0 11 0
$250,000 to $299,999 36 28 0 8 0
$300,000 or more 58 26 8 20 4
Not reported 16 13 0 1 2
Median 74429 73822 63438 82870 46816
Mean 93124 90042 92170 106655 103881

Total Mortgage Outstanding Debt

Less than $10,000
55 53 0 2 0
$10,000 to $19,999 76 62 0 14 0
$20,000 to $29,999 126 103 9 11 4
$30,000 to $39,999 145 120 9 16 0
$40,000 to $49,999 205 142 12 44 6
$50,000 to $59,999 236 172 17 40 7
$60,000 to $79,999 432 344 18 65 5
$80,000 to $99,999 291 231 9 48 3
$100,000 to $149,999 422 332 17 70 3
$150,000 to $199,999 202 149 2 51 0
$200,000 to $249,999 66 55 0 11 0
$250,000 to $299,999 51 43 0 8 0
$300,000 or more 58 26 8 20 4
Not reported 16 13 0 1 2
Median 75711 75311 63438 83531 59068
Mean 95095 92149 92170 108831 101905

Current Interest Rate on First Mortgage

Less than 6.0 percent
663 464 71 103 24
6.0 percent 35 18 0 16 0
6.1 to 6.4 percent 66 46 4 17 0
6.5 to 6.9 percent 279 196 5 78 0
7.0 percent 198 158 5 35 0
7.1 to 7.4 percent 158 122 1 35 0
7.5 to 7.9 percent 285 258 0 25 1
8.0 percent 87 81 0 3 4
8.1 to 8.4 percent 57 55 0 3 0
8.5 to 8.9 percent 82 72 0 8 2
9.0 percent 11 9 0 2 0
9.1 to 9.4 percent 26 26 0 0 0
9.5 to 9.9 percent 53 34 7 9 2
10.0 percent 17 16 0 1 0
10.1 to 10.4 percent 16 9 3 4 0
10.5 to 10.9 percent 10 5 0 4 0
11.0 percent 7 7 0 0 0
11.1 to 12.9 percent 32 20 4 9 0
13.0 percent 2 2 0 0 0
13.1 percent or more 293 246 0 47 0
Not reported 0 0 0 0 0
Median 7.1 7.2 4.3 6.9 4.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
67 45 1 21 0
Constant payment 5 5 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 2 2 0 0 0
Not reported 60 38 1 21 0
Properties without interest
rate buydown
992 797 10 180 6
Not reported 1321 1003 89 200 28

Term of First Mortgage

Less than 5 years
5 0 5 0 0
5 years 1 1 0 0 0
6 to 9 years 7 2 5 0 0
10 years 19 15 0 0 4
11 to 14 years 0 0 0 0 0
15 years 175 163 0 12 0
16 to 19 years 2 0 0 0 2
20 years 25 19 0 6 0
21 to 24 years 1 1 0 0 0
25 years 10 9 0 1 0
26 to 29 years 11 11 0 0 0
30 years 1174 910 20 241 3
More than 30 years 0 0 0 0 0
No stated term 950 715 71 140 24
Median 30 30 30 30 17

Unexpired Term of First Mortgage

Less than 5 years
46 36 10 0 0
5 to 9 years 88 76 0 6 6
10 to 14 years 119 109 0 9 0
15 to 19 years 72 42 0 30 0
20 to 24 years 204 160 3 39 2
25 to 29 years 658 500 12 145 0
30 or more years 243 206 4 32 1
No stated term or not computed 950 715 71 140 24
Median 26 26 25 26 8

Holder of First Mortgage

Commercial bank or trust company
340 235 19 83 3
Savings and loan association, federal
savings bank
243 153 9 76 4
Mutual savings bank 69 52 10 7 0
Life insurance company 51 41 4 5 2
Mortgage banker or mortgage company 255 204 2 49 0
Federally-sponsored secondary market
agency or pool
1094 893 36 146 20
Conventional mortgage pool 24 24 0 0 0
Other federal agency 77 60 2 12 4
Real estate investment trust 3 2 0 1 0
Pension or retirement fund 4 4 0 0 0
Credit union 56 48 2 5 0
Finance company 24 13 8 4 0
State or municipal government or
housing finance agency
59 52 0 5 2
Individual or individual's estate 34 30 4 0 0
Other 48 35 4 8 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
1835 1425 69 309 32
Less than 40 percent 77 74 0 4 0
40 to 49 percent 70 59 0 7 4
50 to 59 percent 57 41 0 16 0
60 to 69 percent 232 170 19 39 4
70 to 79 percent 282 206 19 55 3
80 to 89 percent 362 278 17 53 13
90 to 94 percent 189 152 3 34 0
95 to 99 percent 248 177 1 66 3
100 percent or more 305 257 8 36 3
Not reported 14 11 0 1 2
Median 85 85 77 86 83
Other properties 545 420 32 91 1
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
1835 1425 69 309 32
Less than 40 percent 76 69 0 4 4
40 to 49 percent 61 54 0 7 0
50 to 59 percent 48 36 0 11 0
60 to 69 percent 376 286 21 65 3
70 to 79 percent 313 242 18 50 3
80 to 89 percent 340 260 19 48 13
90 to 94 percent 157 129 3 25 0
95 to 99 percent 220 144 1 69 5
100 percent or more 230 194 7 28 2
Not reported 14 11 0 1 2
Median 81 80 77 83 84
Other properties 545 420 32 91 1
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
102 60 7 34 0
Not subprime loan 2278 1785 93 366 34
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
434 0 0 400 34
Treasury security 142 0 0 142 0
Average cost of funds in bank district 23 0 0 23 0
National average cost of funds 9 0 0 9 0
OTS contract mortgage rate 0 0 0 0 0
Other method 14 0 0 14 0
No index used 10 0 0 8 2
Not reported 237 0 0 205 32
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
434 0 0 400 34
Monthly 41 0 0 41 0
Every 3 months 0 0 0 0 0
Every 6 months 22 0 0 22 0
Yearly 128 0 0 128 0
Every 3 years 7 0 0 7 0
Every 5 years 10 0 0 10 0
Other 0 0 0 0 0
Not reported 226 0 0 193 34
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
434 0 0 400 34
Less than 1 percent 2 0 0 2 0
1 percent 1 0 0 1 0
1.1 to 1.9 percent 3 0 0 3 0
2 percent 95 0 0 95 0
2.1 to 2.9 percent 14 0 0 14 0
3 percent 1 0 0 1 0
3.1 to 3.9 percent 11 0 0 11 0
4.0 percent or more 38 0 0 38 0
No caps 45 0 0 45 0
Not reported 224 0 0 191 34
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
434 0 0 400 34
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 160 0 0 160 0
No caps 21 0 0 21 0
Not reported 253 0 0 219 34
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
434 0 0 400 34
Yes, rate has changed 128 0 0 128 0
No change since mortgage made 84 0 0 84 0
Not reported 222 0 0 188 34
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
434 0 0 400 34
Less than 1 percent 0 0 0 0 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 2 0 0 2 0
2 percent 40 0 0 40 0
2.1 to 2.9 percent 111 0 0 111 0
3 percent 16 0 0 16 0
3.1 to 3.9 percent 26 0 0 26 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 7 0 0 7 0
Not reported 231 0 0 197 34
Median 2.6 0.0 0.0 2.6 0.0
Other properties 1946 1845 101 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
434 0 0 400 34
Can be converted 22 0 0 22 0
Cannot be converted 140 0 0 140 0
Not reported 272 0 0 238 34
Other properties 1946 1845 101 0 0
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
15 0 0 13 2
Payments can change monthly 2 0 0 2 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 3 0 0 3 0
Payments can change every 3 years 7 0 0 7 0
Payments can change every 5 years 2 0 0 2 0
Other 2 0 0 0 2
Not reported 0 0 0 0 0
Monthly payments cannot
change
2143 1845 101 197 0
Not reported 222 0 0 191 32

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
15 0 0 13 2
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 3 0 0 1 2
No negative amortization allowed 12 0 0 12 0
Not reported 0 0 0 0 0
Monthly payments cannot change 2143 1845 101 197 0
Not reported 222 0 0 191 32

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
2311 1788 96 396 32
Interest and principal 2306 1787 92 396 32
Fully amortized 2113 1709 5 373 26
Not fully amortized 192 78 87 23 5
Interest only 5 1 4 0 0
No regular payments required 6 2 5 0 0
Not reported 62 56 0 5 2

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
2306 1787 92 396 32
Real estate taxes 890 735 4 149 2
Property insurance 225 198 4 24 0
Mortgage insurance 321 253 4 62 2
Other 255 222 0 34 0
No items included or not reported 1384 1023 88 243 30
No regular payments of interest
and principal
74 59 9 5 2

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
2311 1788 96 396 32
Less than $100 6 3 0 3 0
$100 to $199 52 41 6 5 0
$200 to $299 145 132 1 12 0
$300 to $399 205 158 7 32 8
$400 to $499 310 230 11 66 4
$500 to $599 314 244 20 42 8
$600 to $699 235 187 5 41 2
$700 to $799 188 135 12 38 3
$800 to $899 140 111 5 22 2
$900 to $999 103 85 2 16 0
$1,000 to $1,249 264 203 13 48 0
$1,250 to $1,499 142 113 6 23 0
$1,500 or more 206 147 8 46 4
Median 651 646 668 687 552
Mean 880 866 819 960 819
No regular payments required 6 2 5 0 0
Not reported 62 56 0 5 2

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
2374 1844 96 400 34
Up-to-date, ahead of schedule, or
less than 90 days past due
1189 956 10 221 2
Delinquent by 90 days or more 28 21 0 7 0
Legal proceedings have begun 13 8 0 5 0
Legal proceedings have not begun 9 7 0 2 0
Not reported 6 6 0 0 0
Not reported 1156 866 86 173 32
Other properties 6 2 5 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
2313 1790 96 396 32
Less than $100 6 3 0 3 0
$100 to $199 52 41 6 5 0
$200 to $299 139 125 1 12 0
$300 to $399 180 135 7 30 8
$400 to $499 310 228 11 68 4
$500 to $599 316 251 20 43 1
$600 to $699 216 172 5 31 8
$700 to $799 204 151 12 38 3
$800 to $899 137 108 5 22 2
$900 to $999 119 101 2 16 0
$1,000 to $1,249 266 205 13 48 0
$1,250 to $1,499 146 112 6 28 0
$1,500 or more 222 157 8 52 4
Median 671 664 668 714 632
Mean 899 886 819 983 852
No regular monthly payments
required
67 56 5 5 2

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
2313 1790 96 396 32
Less than 5 percent 96 76 2 18 0
5 to 9 percent 403 335 4 61 3
10 to 14 percent 491 388 23 61 20
15 to 19 percent 439 352 19 66 1
20 to 24 percent 275 192 17 64 3
25 to 29 percent 149 120 3 21 4
30 to 34 percent 80 71 6 4 0
35 to 39 percent 30 24 4 1 0
40 to 49 percent 51 39 5 7 0
50 percent or more 99 62 0 37 0
Not reported or not computed 199 131 13 55 0
Median 15.7 15.4 18.2 17.2 13.2
No regular monthly payments
required
67 56 5 5 2

Rental and vacant condominium
properties with traditional first
mortgage
841 588 63 170 21

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
663 454 52 143 14
Placed one new mortgage 610 418 45 132 14
Placed two or more new mortgages 13 7 3 3 0
Assumed mortgage(s) already on property 20 8 4 8 0
Assumed mortgage(s) already on property
and placed new mortgage
0 0 0 0 0
Borrowed using assets other than this
property as collateral
6 6 0 0 0
Paid all cash-no borrowing 9 9 0 0 0
Other manner 7 7 0 0 0
By inheritance or gift 15 10 4 1 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
6 6 0 0 0
By foreclosure or assignment 19 13 0 6 0
By some other manner 60 46 8 6 0
Not reported 78 59 0 14 6

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
333 228 32 61 11
Sale of stock or other partnership
shares for this project
2 0 0 0 2
Sale of previously owned stocks,
shares, or other securities
17 11 0 6 0
Sale of land or other real estate 26 24 0 2 0
Owner's cash, bank deposits,
share accounts, or bonds
223 155 30 35 4
Borrowing from a retirement plan 1 1 0 0 0
Borrowing using assets other than this
property as collateral
8 5 0 3 0
Proceeds from an insurance policy 1 0 0 1 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 0 0 0 0 0
Proceeds from sale of tax credits 0 0 0 0 0
From parents or relatives 27 20 0 7 0
Other cash source 0 0 0 0 0
Non-cash source 4 4 0 0 0
No downpayment required 18 9 0 3 6
Not reported 36 28 2 6 0
Other properties 457 319 31 99 8
Not reported 51 40 0 10 2

Year Property Acquired

1999 to 2001 (part)
196 138 11 36 10
1997 and 1998 121 97 11 13 1
1995 and 1996 105 72 10 22 2
1990 to 1994 170 126 7 32 5
1985 to 1989 135 85 19 30 0
1980 to 1984 69 43 4 22 0
1975 to 1979 29 16 0 13 0
1970 to 1974 8 4 0 1 3
1969 or earlier 7 7 0 0 0

Property New or Previously Owned When
Acquired

Acquired by purchase
663 454 52 143 14
New 178 129 17 28 3
Previously owned 479 318 35 115 11
As residential property 463 306 35 111 11
Converted from nonresidential use 16 12 0 4 0
Other 0 0 0 0 0
Not reported 7 7 0 0 0
Other properties 99 75 11 13 0
Not reported 78 59 0 14 6

Year Structure Built

1999 to March 2000
37 31 0 6 0
1997 and 1998 32 27 2 3 0
1995 and 1996 48 26 10 11 0
1990 to 1994 73 58 6 9 0
1980 to 1989 255 178 27 46 5
1970 to 1979 209 134 9 52 14
1960 to 1969 81 61 4 16 0
1950 to 1959 29 21 0 7 2
1940 to 1949 19 8 5 6 0
1939 or earlier 57 44 0 13 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
266 191 22 42 10
Less than $20,000 10 10 0 0 0
$20,000 to $39,999 28 12 7 3 7
$40,000 to $59,999 42 32 8 2 0
$60,000 to $79,999 45 38 2 2 3
$80,000 to $99,999 28 28 0 0 0
$100,000 to $124,999 34 23 3 8 0
$125,000 to $149,999 23 14 0 9 0
$150,000 to $174,999 7 7 0 0 0
$175,000 to $199,999 6 6 0 0 0
$200,000 to $249,999 9 7 0 2 0
$250,000 to $299,999 9 4 0 5 0
$300,000 to $499,999 17 11 0 7 0
$500,000 or more 6 0 2 4 0
Median 85381 82976 50297 140424 34654
Mean 125642 105917 108494 242830 45631
Other properties 575 396 41 127 11

Value

Less than $20,000
4 4 0 0 0
$20,000 to $39,999 39 21 4 14 0
$40,000 to $59,999 113 73 24 11 5
$60,000 to $79,999 110 80 5 14 11
$80,000 to $99,999 145 109 6 28 3
$100,000 to $124,999 133 97 12 24 0
$125,000 to $149,999 48 37 2 10 0
$150,000 to $174,999 68 43 4 21 0
$175,000 to $199,999 33 20 4 8 0
$200,000 to $249,999 42 30 0 11 0
$250,000 to $299,999 47 37 0 7 2
$300,000 to $499,999 46 30 0 16 0
$500,000 or more 13 6 2 5 0
Median 101614 101653 75426 118025 70646
Mean 132282 128948 108754 157415 92234

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
288 209 20 57 2
Less than $500 19 13 0 6 0
$500 to $999 35 31 0 1 2
$1,000 to $2,499 76 54 11 12 0
$2,500 to $4,999 69 48 8 14 0
$5,000 to $7,499 23 19 0 4 0
$7,500 to $9,999 17 12 0 5 0
$10,000 to $14,999 13 9 0 4 0
$15,000 to $19,999 3 1 0 2 0
$20,000 to $29,999 13 7 0 5 0
$30,000 or more 21 14 2 5 0
Median 3008 2833 2419 4225 750
Mean 12086 10724 7068 19342 700
Properties with no capital
improvements between 1998 and 2000
364 238 39 78 9
Capital improvements not
reported
189 141 4 35 9

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
701 485 54 145 17
Less than $100 11 4 0 4 3
$100 to $199 2 2 0 0 0
$200 to $299 18 12 2 4 0
$300 to $399 24 20 0 4 0
$400 to $499 53 41 0 10 2
$500 to $599 74 52 9 9 4
$600 to $799 88 52 12 24 0
$800 to $999 181 131 15 33 3
$1000 or more 187 126 13 48 0
No rental receipts 62 46 4 9 4
Median 853 856 832 876 521
Mean 4041 4933 999 2631 340
Acquired 2000 and 2001 (part) 140 103 9 25 4

Rental Receipts as Percent of Value@8

Acquired before 2000
701 485 54 145 17
Less than 5 percent 29 18 0 9 2
5 to 9 percent 234 166 8 59 1
10 to 14 percent 290 199 28 57 6
15 to 19 percent 26 12 13 1 0
20 to 24 percent 13 7 0 5 0
25 to 29 percent 3 3 0 0 0
30 to 39 percent 6 6 0 0 0
40 percent or more 28 24 2 3 0
Median 10 10 13 9 11
Acquired 2000 and 2001 (part) 140 103 9 25 4

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
701 485 54 145 17
Less than 1.0 percent 234 159 12 57 7
1.0 to 2.9 percent 14 2 5 7 0
3.0 to 4.9 percent 3 3 0 0 0
5.0 to 6.9 percent 2 0 2 0 0
7.0 to 8.9 percent 27 22 4 0 0
9.0 to 10.9 percent 1 0 0 1 0
11.0 to 12.9 percent 3 3 0 0 0
13.0 to 14.9 percent 1 1 0 0 0
15.0 percent or more 91 60 6 25 0
Not reported or not computed 324 234 26 55 10
Median 0.8 0.8 1.9 0.8 0.5
Acquired 2000 and 2001 (part) 140 103 9 25 4

Age Restrictions

Condominium building restricted to
people age 55 or older
160 107 13 34 7
Condominium building not restricted to
people age 55 or older
653 459 50 130 14
Not reported 27 21 0 6 0

Meal Service Provided for
Age-Restricted Condominiums

Meal serviced provided
81 52 5 20 5
Charge included in rent 47 35 2 6 5
Charge not included in rent 0 0 0 0 0
Not reported 35 17 4 14 0
Meal service not provided 88 57 7 20 4
Not reported 672 479 50 129 12

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
8 8 0 0 0
Government rental subsidy 24 21 0 3 0
Government grant 0 0 0 0 0
Property tax relief 6 6 0 0 0
Federal income tax credit for
low-income, old or historic properties
0 0 0 0 0
Accelerated federal income tax
depreciation for low- and
moderate-income properties
0 0 0 0 0
Subsidy from a non-profit corporation 0 0 0 0 0
None of the above benefits 646 435 57 137 16
Not reported 159 119 6 29 4

Source of Property Benefits@1

With property benefits
36 33 0 3 0
Federal government 24 22 0 2 0
State government 7 6 0 1 0
Local government 3 3 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 4 4 0 0 0
With no property benefits 646 435 57 137 16
Not reported 159 119 6 29 4

Reason for Benefits@1

With property benefits
36 33 0 3 0
Occupied by low- or moderate-income
individuals
22 20 0 1 0
Occupied by elderly or disabled
individuals
9 6 0 3 0
A historic structure 2 2 0 0 0
Located in a community development or
economic development area
0 0 0 0 0
Covered by a Homestead Exemption 4 4 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 2 2 0 0 0
Not reported 9 9 0 0 0
With no property benefits 646 435 57 137 16
Not reported 159 119 6 29 4

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
710 511 41 145 14
Limited partnership 42 22 13 5 2
Joint venture 10 2 4 4 0
General partnership 9 9 0 0 0
Life insurance company 0 0 0 0 0
Depository institution 0 0 0 0 0
Public real estate investment trust 7 0 0 7 0
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
33 18 5 5 4
Housing cooperative organization 0 0 0 0 0
Non-profit or church-related institution 8 8 0 0 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 22 18 0 4 0

MORTGAGE CHARACTERISTICS


Origin of First Mortgage

Mortgage made at time property acquired
706 487 52 153 13
Mortgage assumed at the time property
acquired
31 16 4 8 3
Mortgage placed later than acquisition of
property
104 84 6 9 4
Refinanced mortgage 102 82 6 9 4
Same lender 28 24 0 4 0
Different lender 74 58 6 6 4
Mortgage placed on property
owned free and clear of debt
2 2 0 0 0
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
104 84 6 9 4
Obtain lower interest rate 62 44 6 8 4
Increase payment period for mortgage 0 0 0 0 0
Reduce payment period for mortgage 0 0 0 0 0
Renew or extend loan that had fallen
due, without increasing outstanding
balance
14 14 0 0 0
Receive cash or increase outstanding
balance of loan
16 16 0 0 0
Other reason 4 4 0 0 0
Not reported 8 7 0 1 0
Other properties 737 504 57 160 16
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
19 19 0 0 0
Less than $20,000 11 11 0 0 0
$20,000 to $39,999 2 2 0 0 0
$40,000 to $59,999 4 4 0 0 0
$60,000 to $79,999 0 0 0 0 0
$80,000 to $99,999 0 0 0 0 0
$100,000 to $124,999 2 2 0 0 0
$125,000 to $149,999 0 0 0 0 0
$150,000 to $174,999 0 0 0 0 0
$175,000 to $199,999 0 0 0 0 0
$200,000 to $249,999 0 0 0 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Median 20000- 20000- 20000- 20000- 20000-
Mean 32109 32109 0 0 0
Properties that refinanced
and did not receive cash back
79 59 6 9 4
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0
Properties that did not
refinance
737 504 57 160 16
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
19 19 0 0 0
For additions, improvements or repairs
to this property
6 6 0 0 0
To consolidate debts 8 8 0 0 0
For investment in other real estate 4 4 0 0 0
For other types of investments 9 9 0 0 0
For educational or medical expenses 0 0 0 0 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 0 0 0 0 0
To purchase an automobile, truck, or
other vehicle
4 4 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
79 59 6 9 4
Properties that refinanced
and did not report if received
cash back
6 6 0 0 0
Properties that did not
refinance
737 504 57 160 16
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
256 191 15 40 10
1997 and 1998 136 107 14 13 1
1995 and 1996 118 80 15 22 2
1990 to 1994 175 127 3 40 5
1985 to 1989 83 38 16 29 0
1980 to 1984 46 29 0 17 0
1979 or earlier 28 15 0 9 3

First Mortgage Insurance Status

FHA-insured first mortgage
70 53 0 15 2
VA-guaranteed first mortgage 6 4 0 2 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
12 5 0 7 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
14 14 0 0 0
Insured conventional first mortgage 86 62 2 22 0
Uninsured conventional first mortgage 654 450 61 124 19
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
25 22 2 1 0
$20,000 to $29,999 48 30 4 15 0
$30,000 to $39,999 79 46 9 19 5
$40,000 to $49,999 86 79 2 6 0
$50,000 to $59,999 62 52 3 7 0
$60,000 to $79,999 185 116 17 44 8
$80,000 to $99,999 121 89 2 30 0
$100,000 to $149,999 112 88 6 16 2
$150,000 to $199,999 52 26 12 9 4
$200,000 to $249,999 21 10 0 12 0
$250,000 to $299,999 7 7 0 0 0
$300,000 or more 17 9 2 6 0
Not reported 25 15 4 4 2
Median 71638 70071 70902 75870 72968
Mean 86041 81559 97181 97471 87362

Total Mortgage Loan

Less than $20,000
25 22 2 1 0
$20,000 to $29,999 46 28 4 15 0
$30,000 to $39,999 78 46 9 19 5
$40,000 to $49,999 85 78 2 6 0
$50,000 to $59,999 64 54 3 7 0
$60,000 to $79,999 167 104 13 42 8
$80,000 to $99,999 122 92 2 28 0
$100,000 to $149,999 131 98 10 20 2
$150,000 to $199,999 42 26 2 9 4
$200,000 to $249,999 30 9 10 12 0
$250,000 to $299,999 2 2 0 0 0
$300,000 or more 24 15 2 6 0
Not reported 25 15 4 4 2
Median 73019 71448 74759 76384 72968
Mean 88533 84111 104406 98360 87362

Traditional First Mortgage Outstanding
Debt

Less than $10,000
24 17 0 3 3
$10,000 to $19,999 63 38 6 19 0
$20,000 to $29,999 59 42 2 15 0
$30,000 to $39,999 89 67 9 11 2
$40,000 to $49,999 95 73 2 18 2
$50,000 to $59,999 73 57 4 9 3
$60,000 to $79,999 173 108 17 39 9
$80,000 to $99,999 64 49 0 13 2
$100,000 to $149,999 97 79 7 11 0
$150,000 to $199,999 49 27 10 11 0
$200,000 to $249,999 10 0 0 10 0
$250,000 to $299,999 8 8 0 0 0
$300,000 or more 16 7 2 6 0
Not reported 23 15 4 4 0
Median 60868 58524 68762 63689 62668
Mean 76180 72652 89096 86548 54265

Current Interest Rate on First Mortgage

Less than 6.0 percent
306 185 36 73 12
6.0 percent 6 2 0 2 2
6.1 to 6.4 percent 12 1 0 11 0
6.5 to 6.9 percent 62 39 2 21 0
7.0 percent 68 51 12 5 0
7.1 to 7.4 percent 73 56 0 16 0
7.5 to 7.9 percent 81 63 7 10 0
8.0 percent 23 18 0 5 0
8.1 to 8.4 percent 11 9 0 2 0
8.5 to 8.9 percent 8 7 0 1 0
9.0 percent 12 9 4 0 0
9.1 to 9.4 percent 9 3 0 7 0
9.5 to 9.9 percent 14 8 0 2 4
10.0 percent 11 7 2 2 0
10.1 to 10.4 percent 1 1 0 0 0
10.5 to 10.9 percent 12 12 0 0 0
11.0 percent 5 4 0 0 2
11.1 to 12.9 percent 9 9 0 0 0
13.0 percent 0 0 0 0 0
13.1 percent or more 116 103 0 13 0
Not reported 0 0 0 0 0
Median 7.0 7.2 5.2 6.5 5.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
8 5 0 3 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 0 0 0 0 0
Not reported 8 5 0 3 0
Properties without interest
rate buydown
343 231 15 89 8
Not reported 490 352 48 78 12

Term of First Mortgage

Less than 5 years
15 0 13 0 2
5 years 6 2 0 0 4
6 to 9 years 7 1 2 4 0
10 years 18 8 5 5 0
11 to 14 years 1 1 0 0 0
15 years 52 46 0 7 0
16 to 19 years 0 0 0 0 0
20 years 17 13 5 0 0
21 to 24 years 4 4 0 0 0
25 years 9 2 0 7 0
26 to 29 years 1 1 0 0 0
30 years 289 198 2 87 3
More than 30 years 3 3 0 0 0
No stated term 417 310 36 60 11
Median 30 30 7 30 5

Unexpired Term of First Mortgage

Less than 5 years
30 10 13 5 2
5 to 9 years 46 27 5 9 4
10 to 14 years 58 32 2 24 0
15 to 19 years 72 45 5 23 0
20 to 24 years 64 49 0 13 2
25 to 29 years 114 85 2 25 2
30 or more years 41 31 0 10 0
No stated term or not computed 417 310 36 60 11
Median 20 22 5 18 7

Holder of First Mortgage

Commercial bank or trust company
162 92 19 39 11
Savings and loan association, federal
savings bank
106 58 20 26 1
Mutual savings bank 35 17 3 14 0
Life insurance company 4 4 0 0 0
Mortgage banker or mortgage company 104 89 0 15 0
Federally-sponsored secondary market
agency or pool
329 249 20 54 7
Conventional mortgage pool 6 6 0 0 0
Other federal agency 24 20 0 4 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 12 9 0 4 0
Finance company 0 0 0 0 0
State or municipal government or
housing finance agency
18 15 0 2 0
Individual or individual's estate 21 18 0 2 2
Other 19 11 0 8 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
576 386 46 134 10
Less than 40 percent 20 15 2 3 0
40 to 49 percent 12 10 0 2 0
50 to 59 percent 25 11 0 14 0
60 to 69 percent 46 33 4 9 0
70 to 79 percent 78 56 0 21 2
80 to 89 percent 115 73 7 35 0
90 to 94 percent 49 35 0 12 2
95 to 99 percent 50 41 3 6 0
100 percent or more 159 99 25 29 7
Not reported 22 14 4 4 0
Median 88 88 100+ 84 100+
Other properties 265 201 17 36 11
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
576 386 46 134 10
Less than 40 percent 20 15 2 3 0
40 to 49 percent 12 10 0 0 2
50 to 59 percent 22 7 0 15 0
60 to 69 percent 84 62 4 18 0
70 to 79 percent 102 65 17 19 2
80 to 89 percent 114 56 11 47 0
90 to 94 percent 45 32 2 9 2
95 to 99 percent 36 30 2 3 0
100 percent or more 119 96 3 16 4
Not reported 21 12 4 4 0
Median 83 84 78 82 92
Other properties 265 201 17 36 11
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
34 28 0 5 0
Not subprime loan 807 560 63 164 21
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
190 0 0 170 21
Treasury security 63 0 0 63 0
Average cost of funds in bank district 18 0 0 18 0
National average cost of funds 3 0 0 3 0
OTS contract mortgage rate 0 0 0 0 0
Other method 4 0 0 4 0
No index used 5 0 0 4 2
Not reported 97 0 0 78 19
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
190 0 0 170 21
Monthly 22 0 0 22 0
Every 3 months 0 0 0 0 0
Every 6 months 6 0 0 6 0
Yearly 54 0 0 54 0
Every 3 years 11 0 0 11 0
Every 5 years 0 0 0 0 0
Other 2 0 0 2 0
Not reported 96 0 0 75 21
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
190 0 0 170 21
Less than 1 percent 7 0 0 7 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 51 0 0 51 0
2.1 to 2.9 percent 6 0 0 6 0
3 percent 1 0 0 1 0
3.1 to 3.9 percent 2 0 0 2 0
4.0 percent or more 5 0 0 5 0
No caps 29 0 0 21 8
Not reported 89 0 0 77 12
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
190 0 0 170 21
Less than 1 percent 7 0 0 7 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 0 0 0 0 0
2.1 to 2.9 percent 0 0 0 0 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4.0 percent or more 74 0 0 74 0
No caps 17 0 0 8 8
Not reported 93 0 0 80 12
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
190 0 0 170 21
Yes, rate has changed 87 0 0 85 2
No change since mortgage made 18 0 0 11 6
Not reported 86 0 0 74 12
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
190 0 0 170 21
Less than 1 percent 4 0 0 4 0
1 percent 0 0 0 0 0
1.1 to 1.9 percent 3 0 0 3 0
2 percent 5 0 0 5 0
2.1 to 2.9 percent 55 0 0 55 0
3 percent 4 0 0 4 0
3.1 to 3.9 percent 18 0 0 18 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 7 0 0 0 7
Not reported 94 0 0 80 14
Median 2.7 0.0 0.0 2.6 5002.4
Other properties 651 588 63 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
190 0 0 170 21
Can be converted 9 0 0 9 0
Cannot be converted 80 0 0 73 7
Not reported 102 0 0 88 14
Other properties 651 588 63 0 0
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
5 0 0 5 0
Payments can change monthly 0 0 0 0 0
Payments can change every three months 0 0 0 0 0
Payments can change every six months 0 0 0 0 0
Payments can change yearly 2 0 0 2 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 4 0 0 4 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
752 588 63 93 8
Not reported 84 0 0 72 12

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
5 0 0 5 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 5 0 0 5 0
Not reported 0 0 0 0 0
Monthly payments cannot change 752 588 63 93 8
Not reported 84 0 0 72 12

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
795 555 56 167 16
Interest and principal 787 555 53 165 14
Fully amortized 715 532 10 158 14
Not fully amortized 73 23 43 7 0
Interest only 8 0 3 2 2
No regular payments required 17 12 0 0 4
Not reported 29 20 7 2 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
787 555 53 165 14
Real estate taxes 225 165 2 58 0
Property insurance 108 90 2 17 0
Mortgage insurance 44 41 0 3 0
Other 64 49 2 13 0
No items included or not reported 551 382 52 104 14
No regular payments of interest
and principal
54 32 10 5 7

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
795 555 56 167 16
Less than $100 16 14 0 2 0
$100 to $199 38 27 0 11 0
$200 to $299 60 43 0 17 0
$300 to $399 122 87 15 17 3
$400 to $499 107 74 3 27 3
$500 to $599 89 60 8 19 2
$600 to $699 79 53 8 13 4
$700 to $799 72 62 0 11 0
$800 to $899 38 33 2 3 0
$900 to $999 27 11 3 13 0
$1,000 to $1,249 53 42 2 9 0
$1,250 to $1,499 26 13 0 13 0
$1,500 or more 68 36 16 12 4
Median 561 553 626 554 607
Mean 823 670 1627 742 4140
No regular payments required 17 12 0 0 4
Not reported 29 20 7 2 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
824 576 63 170 16
Up-to-date, ahead of schedule, or
less than 90 days past due
357 236 18 100 4
Delinquent by 90 days or more 6 4 2 0 0
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 3 1 2 0 0
Not reported 2 2 0 0 0
Not reported 461 336 43 70 12
Other properties 17 12 0 0 4

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
795 555 56 167 16
Less than $100 16 14 0 2 0
$100 to $199 38 27 0 11 0
$200 to $299 60 43 0 17 0
$300 to $399 118 84 15 17 3
$400 to $499 102 69 3 27 3
$500 to $599 91 62 8 19 2
$600 to $699 79 53 8 13 4
$700 to $799 68 58 0 11 0
$800 to $899 41 36 2 3 0
$900 to $999 26 13 0 13 0
$1,000 to $1,249 50 37 4 9 0
$1,250 to $1,499 31 18 0 13 0
$1,500 or more 74 41 16 12 4
Median 569 565 626 554 607
Mean 983 893 1683 744 4140
No regular monthly payments
required
46 32 7 2 4

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

Acquired before 2000 and
regular payments of interest
and/or princi
665 462 48 143 13
Less than 20 percent 47 37 2 9 0
20 to 29 percent 22 10 0 12 0
30 to 39 percent 34 26 0 7 0
40 to 49 percent 63 47 0 16 0
50 to 59 percent 54 43 0 11 0
60 to 69 percent 64 49 7 8 0
70 to 79 percent 90 56 8 26 0
80 to 89 percent 65 42 2 15 6
90 to 99 percent 35 25 2 9 0
100 percent or more 125 77 25 19 4
Not reported or not computed 67 50 4 10 3
Median 71.7 68.7 99.5+ 71.2 88.4
Other properties 176 125 15 27 8

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

Acquired before 2000 and regular
payments of interest and/or
principal
665 462 48 143 13
Less than 20 percent 47 37 2 9 0
20 to 29 percent 22 10 0 12 0
30 to 39 percent 34 26 0 7 0
40 to 49 percent 54 38 0 16 0
50 to 59 percent 49 38 0 11 0
60 to 69 percent 59 44 7 8 0
70 to 79 percent 97 63 8 26 0
80 to 89 percent 70 47 2 15 6
90 to 99 percent 34 23 2 9 0
100 percent or more 133 85 25 19 4
Not reported or not computed 67 50 4 10 3
Median 73.5 71.9 99.5+ 71.2 88.4
Other properties 176 125 15 27 8

Real Estate Tax Per $1,000 Value

Acquired before 2000
701 485 54 145 17
Less than $5 72 49 4 14 5
$5 to $9 262 176 18 63 6
$10 to $14 126 90 15 16 4
$15 to $19 87 57 12 19 0
$20 to $24 57 44 0 11 2
$25 to $29 35 24 0 10 0
$30 to $39 23 18 0 5 0
$40 to $49 2 2 0 0 0
$50 to $59 3 1 0 2 0
$60 or more 23 17 2 4 0
Not reported or not computed 11 6 4 0 0
Median 10 10 11 9 7
Acquired 2000 and 2001 (part) 140 103 9 25 4

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
701 485 54 145 17
Less than 5 percent 56 37 2 17 0
5 to 9 percent 198 137 16 39 7
10 to 14 percent 165 113 27 24 1
15 to 19 percent 59 40 2 16 2
20 to 24 percent 54 44 0 10 0
25 to 29 percent 33 20 0 12 0
30 to 34 percent 16 12 0 4 0
35 to 39 percent 10 5 0 5 0
40 percent or more 28 21 0 8 0
Not reported or not computed 82 57 8 10 8
Median 11 11 11 12 8
Acquired 2000 and 2001 (part) 140 103 9 25 4

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