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Residential Finance Survey: 2001 - Midwest
Table 8-2c. 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
427 343 8 70 7

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
398 324 8 60 7
Placed one new mortgage 387 315 8 60 5
Placed two or more new mortgages 2 2 0 0 0
Assumed mortgage(s) already on property 5 3 0 0 2
Assumed mortgage(s) already on property
and placed new mortgage
0 0 0 0 0
Borrowed using assets other than this
property as collateral
4 4 0 0 0
Paid all cash-no borrowing 0 0 0 0 0
Other manner 0 0 0 0 0
By inheritance or gift 0 0 0 0 0
By divorce 0 0 0 0 0
By some other manner 9 2 0 7 0
Not reported 20 17 0 3 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
274 218 4 45 7
Sale of previous home 98 79 0 15 4
Sale of other real property or other
investments
8 8 0 0 0
Savings 151 119 4 25 3
Borrowing from a retirement plan 22 21 0 1 0
Borrowing using assets other than this
property as collateral
0 0 0 0 0
Proceeds from an insurance policy 6 6 0 0 0
Payments in a lease-purchase agreement 2 2 0 0 0
From a state or local government source 0 0 0 0 0
From a non-profit organization 0 0 0 0 0
From parents or relatives 38 33 0 5 0
Other 0 0 0 0 0
No downpayment required 6 4 0 1 0
Not reported 3 0 0 3 0
Other properties 134 109 3 21 0
Not reported 18 16 0 3 0

Year Property Acquired

1999 to 2001 (part)
173 135 0 33 5
1997 and 1998 74 67 2 4 0
1995 and 1996 52 32 2 17 2
1990 to 1994 66 55 3 8 0
1985 to 1989 39 37 0 2 0
1980 to 1984 8 2 0 5 0
1975 to 1979 8 8 0 0 0
1970 to 1974 7 7 0 0 0
1969 or earlier 0 0 0 0 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
398 324 8 60 7
New 95 75 0 20 0
Previously occupied by someone else 292 242 5 38 7
Converted from non-residential use 3 3 0 0 0
Other 0 0 0 0 0
Not reported 8 4 2 1 0
Other properties 9 2 0 7 0
Not reported 20 17 0 3 0

Year Structure Built

1999 to March 2000
28 20 0 8 0
1997 and 1998 28 21 0 8 0
1995 and 1996 37 18 0 18 0
1990 to 1994 47 47 0 0 0
1980 to 1989 119 107 0 12 0
1970 to 1979 95 67 2 19 7
1960 to 1969 32 27 5 0 0
1950 to 1959 6 4 0 2 0
1940 to 1949 4 4 0 0 0
1939 or earlier 31 28 0 3 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
230 187 2 36 5
Less than $20,000 6 0 0 6 0
$20,000 to $39,999 3 3 0 0 0
$40,000 to $59,999 24 13 2 9 0
$60,000 to $79,999 41 34 0 3 4
$80,000 to $99,999 34 33 0 1 0
$100,000 to $124,999 30 20 0 9 1
$125,000 to $149,999 21 19 0 2 0
$150,000 to $174,999 21 21 0 0 0
$175,000 to $199,999 28 22 0 6 0
$200,000 to $249,999 11 11 0 0 0
$250,000 to $299,999 5 5 0 0 0
$300,000 to $499,999 6 6 0 0 0
$500,000 or more 2 2 0 0 0
Median 106771 115268 50000 78298 72942
Mean 125076 134528 50000 87219 75460
Other properties 196 155 5 34 2

Value

Less than $20,000
2 2 0 0 0
$20,000 to $39,999 2 2 0 0 0
$40,000 to $59,999 32 21 0 10 0
$60,000 to $79,999 52 42 2 5 2
$80,000 to $99,999 58 48 0 6 4
$100,000 to $124,999 68 46 0 22 0
$125,000 to $149,999 53 35 5 11 1
$150,000 to $174,999 60 60 0 0 0
$175,000 to $199,999 25 19 0 6 0
$200,000 to $249,999 49 43 0 6 0
$250,000 to $299,999 6 6 0 0 0
$300,000 to $499,999 14 13 0 2 0
$500,000 or more 6 5 0 1 0
Median 124842 131749 132198 114643 87775
Mean 147749 142971 107131 181406 92505

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
142 115 0 24 3
Less than $500 11 9 0 0 2
$500 to $999 15 12 0 3 0
$1,000 to $2,499 38 31 0 5 1
$2,500 to $4,999 40 29 0 11 0
$5,000 to $7,499 17 14 0 2 0
$7,500 to $9,999 3 3 0 0 0
$10,000 to $14,999 12 12 0 0 0
$15,000 to $19,999 2 2 0 0 0
$20,000 to $29,999 2 2 0 0 0
$30,000 or more 3 1 0 2 0
Median 2971 3021 500- 3200 500-
Mean 5040 4376 0 8778 618
Properties with no capital
improvements between 1998 and 2000
222 184 5 29 4
Capital improvements not
reported
63 44 2 16 0

Age Restrictions

Condominium building restricted to
people age 55 or older
14 14 0 0 0
Condominium building not restricted to
people age 55 or older
393 316 8 62 7
Not reported 19 12 0 8 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
3 3 0 0 0
Other government grant or subsidy 0 0 0 0 0
Property tax relief 6 3 0 3 0
Subsidy from a non-profit corporation 2 2 0 0 0
None of the above benefits 323 259 5 52 7
Not reported 95 78 2 15 0

Source of Property Benefits@1

With property benefits
9 6 0 3 0
Federal government 0 0 0 0 0
State government 4 3 0 1 0
Local government 3 1 0 1 0
Non-profit corporation 2 2 0 0 0
Not reported 0 0 0 0 0
With no property benefits 323 259 5 52 7
Not reported 95 78 2 15 0

Reason for Benefits@1

With property benefits
9 6 0 3 0
Occupied by low- or moderate-income
individuals
6 5 0 1 0
Occupied by elderly or disabled
individuals
3 3 0 0 0
A historic structure 0 0 0 0 0
Located in a community development or
economic development area
2 2 0 0 0
Covered by a Homestead Exemption 1 0 0 1 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 0 0 0 0 0
Not reported 0 0 0 0 0
With no property benefits 323 259 5 52 7
Not reported 95 78 2 15 0

OWNER CHARACTERISTICS


Owner Status

1 owner
262 194 6 56 6
2 owners 141 128 2 9 1
3 or more owners 24 20 0 4 0

Age of Owner

Under 25
1 1 0 0 0
25 to 34 68 40 2 24 1
35 to 44 88 81 2 5 0
45 to 54 85 58 0 26 2
55 to 64 90 78 3 4 4
65 to 74 46 41 0 4 0
75 and over 19 15 0 4 0
Not reported 31 28 0 2 0
Median 49 50 42 46 55

Race of Owner

White alone
398 321 6 64 7
Black or African American alone 16 14 0 2 0
American Indian or Alaska Native alone 2 2 0 0 0
Asian alone 9 4 2 3 0
Native Hawaiian or Other Pacific
Islander alone
0 0 0 0 0
Two or more races 2 2 0 0 0

Sex of Owner

Male/Male and female co-owners
263 214 4 42 3
Female 164 129 3 28 4

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
32 25 2 5 0
No Hispanic/Latino owner(s) 395 318 5 64 7

Veteran Status@1

Veteran
67 65 0 1 0
Active member of Reserves or National
Guard for at least 6 years
10 10 0 0 0
Persian Gulf War or after
(August 1990 to present)
0 0 0 0 0
Vietnam or after
(August 1964 to July 1990)
26 26 0 0 0
Korean conflict or after
(July 1950 to July 1964)
31 30 0 1 0
World War II or after
(September 1940 to June 1950)
10 10 0 0 0
Nonveteran 326 251 8 60 7
Not reported 34 26 0 8 0

Income

Less than $5,000
43 26 0 18 0
$5,000 to $9,999 1 1 0 0 0
$10,000 to $14,999 4 4 0 0 0
$15,000 to $19,999 3 1 0 1 0
$20,000 to $24,999 23 22 0 1 0
$25,000 to $29,999 6 4 0 2 0
$30,000 to $34,999 40 32 2 2 4
$35,000 to $39,999 19 16 0 2 0
$40,000 to $49,999 51 41 2 6 2
$50,000 to $59,999 59 48 0 10 0
$60,000 to $79,999 74 47 3 23 0
$80,000 to $99,999 23 20 0 1 1
$100,000 to $119,999 24 24 0 0 0
$120,000 or more 58 55 0 3 0
Median 53949 54920 48293 52071 34527
Mean 75882 77859 48845 72430 43332

Owned Home Previously

Previously owned home
248 200 3 40 4
Never owned home before 159 124 4 27 3
Not reported 20 18 0 2 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
1 1 0 0 0
By telephone or FAX 36 27 0 9 0
By regular mail 11 10 0 1 0
By personal visit 304 248 3 47 5
Through third party (such as real
estate agent or builder)
56 43 2 11 0
Some other way 0 0 0 0 0
Not reported 17 13 2 1 0
Not available 2 0 0 0 2

Origin of First Mortgage

Mortgage made at time property acquired
367 293 3 66 5
Mortgage assumed at the time property
acquired
5 3 0 0 2
Mortgage placed later than acquisition of
property
55 47 4 4 0
Refinanced mortgage 53 47 4 2 0
Same lender 16 14 2 0 0
Different lender 37 34 2 2 0
Mortgage placed on property
owned free and clear of debt
2 0 0 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
55 47 4 4 0
Obtain lower interest rate 52 46 4 2 0
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
0 0 0 0 0
Receive cash or increase outstanding
balance of loan
3 1 0 2 0
Other reason 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 372 295 3 66 7
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
10 6 0 4 0
Less than $20,000 5 1 0 4 0
$20,000 to $39,999 4 4 0 0 0
$40,000 to $59,999 1 1 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 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- 30015 20000- 20000- 20000-
Mean 18189 24615 0 7754 0
Properties that refinanced
and did not receive cash back
43 39 4 0 0
Properties that refinanced
and did not report if received
cash back
2 2 0 0 0
Properties that did not
refinance
372 295 3 66 7
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
10 6 0 4 0
For additions, improvements or repairs
to this property
4 2 0 2 0
To consolidate debts 7 5 0 2 0
For investment in other real estate 0 0 0 0 0
For other types of investments 1 1 0 0 0
For educational or medical expenses 2 0 0 2 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 3 1 0 2 0
To purchase an automobile, truck, or
other vehicle
0 0 0 0 0
To purchase consumer product other than
automobile, truck, or other vehicle
2 2 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
43 39 4 0 0
Properties that refinanced
and did not report if received
cash back
2 2 0 0 0
Properties that did not
refinance
372 295 3 66 7
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
206 160 4 37 5
1997 and 1998 73 70 0 3 0
1995 and 1996 51 32 0 17 2
1990 to 1994 61 52 3 6 0
1985 to 1989 17 15 0 2 0
1980 to 1984 6 1 0 5 0
1979 or earlier 12 12 0 0 0

First Mortgage Insurance Status

FHA-insured first mortgage
73 57 0 17 0
VA-guaranteed first mortgage 10 8 0 0 2
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
2 2 0 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
18 16 0 2 0
Insured conventional first mortgage 65 58 0 7 0
Uninsured conventional first mortgage 258 201 8 44 5
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
5 3 0 1 0
$20,000 to $29,999 23 18 0 1 4
$30,000 to $39,999 36 32 0 3 0
$40,000 to $49,999 44 36 2 4 2
$50,000 to $59,999 30 22 2 5 0
$60,000 to $79,999 94 77 3 13 0
$80,000 to $99,999 74 61 0 12 1
$100,000 to $149,999 69 54 0 15 0
$150,000 to $199,999 32 25 0 7 0
$200,000 to $249,999 4 4 0 0 0
$250,000 to $299,999 8 4 0 4 0
$300,000 or more 5 4 0 1 0
Not reported 3 2 0 1 0
Median 75979 75185 57990 89614 29055
Mean 89571 86796 53598 112060 44870

Total Mortgage Loan

Less than $20,000
5 3 0 1 0
$20,000 to $29,999 19 13 0 1 4
$30,000 to $39,999 34 30 0 3 0
$40,000 to $49,999 43 35 2 4 2
$50,000 to $59,999 21 14 2 5 0
$60,000 to $79,999 108 91 3 13 0
$80,000 to $99,999 67 55 0 11 1
$100,000 to $149,999 73 62 0 11 0
$150,000 to $199,999 38 25 0 13 0
$200,000 to $249,999 4 4 0 0 0
$250,000 to $299,999 6 2 0 4 0
$300,000 or more 7 6 0 1 0
Not reported 3 2 0 1 0
Median 76843 76331 57990 90585 29055
Mean 92609 89597 53598 116939 44870

Traditional First Mortgage Outstanding
Debt

Less than $10,000
21 21 0 0 0
$10,000 to $19,999 22 18 0 4 0
$20,000 to $29,999 19 15 0 0 4
$30,000 to $39,999 33 31 0 2 0
$40,000 to $49,999 43 28 4 9 2
$50,000 to $59,999 35 25 3 7 0
$60,000 to $79,999 92 75 0 17 0
$80,000 to $99,999 61 50 0 9 1
$100,000 to $149,999 63 54 0 9 0
$150,000 to $199,999 25 19 0 6 0
$200,000 to $249,999 4 0 0 4 0
$250,000 to $299,999 5 5 0 0 0
$300,000 or more 1 0 0 1 0
Not reported 3 2 0 1 0
Median 68479 68695 49077 74701 29055
Mean 76654 74824 50063 92272 42709

Total Mortgage Outstanding Debt

Less than $10,000
10 10 0 0 0
$10,000 to $19,999 22 18 0 4 0
$20,000 to $29,999 28 24 0 0 4
$30,000 to $39,999 31 29 0 2 0
$40,000 to $49,999 36 21 4 9 2
$50,000 to $59,999 44 34 3 7 0
$60,000 to $79,999 88 70 0 17 0
$80,000 to $99,999 58 48 0 8 1
$100,000 to $149,999 64 61 0 3 0
$150,000 to $199,999 32 19 0 13 0
$200,000 to $249,999 4 0 0 4 0
$250,000 to $299,999 5 5 0 0 0
$300,000 or more 1 0 0 1 0
Not reported 3 2 0 1 0
Median 69298 69728 49077 74701 29055
Mean 78990 77041 50063 95477 42709

Current Interest Rate on First Mortgage

Less than 6.0 percent
86 65 8 13 1
6.0 percent 7 1 0 6 0
6.1 to 6.4 percent 11 11 0 0 0
6.5 to 6.9 percent 48 23 0 25 0
7.0 percent 33 33 0 0 0
7.1 to 7.4 percent 42 39 0 4 0
7.5 to 7.9 percent 67 62 0 5 0
8.0 percent 18 13 0 1 4
8.1 to 8.4 percent 11 11 0 0 0
8.5 to 8.9 percent 23 21 0 1 0
9.0 percent 2 2 0 0 0
9.1 to 9.4 percent 4 4 0 0 0
9.5 to 9.9 percent 11 3 0 5 2
10.0 percent 5 4 0 1 0
10.1 to 10.4 percent 4 2 0 2 0
10.5 to 10.9 percent 0 0 0 0 0
11.0 percent 1 1 0 0 0
11.1 to 12.9 percent 8 6 0 2 0
13.0 percent 0 0 0 0 0
13.1 percent or more 45 40 0 5 0
Not reported 0 0 0 0 0
Median 7.4 7.5 3.0 6.8 8.1

Type of Interest Rate Buydown

Properties with interest rate
buydown
2 2 0 0 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 2 2 0 0 0
Properties without interest
rate buydown
224 178 0 43 4
Not reported 200 162 8 27 3

Term of First Mortgage

Less than 5 years
0 0 0 0 0
5 years 1 1 0 0 0
6 to 9 years 0 0 0 0 0
10 years 13 9 0 0 4
11 to 14 years 0 0 0 0 0
15 years 32 31 0 1 0
16 to 19 years 0 0 0 0 0
20 years 13 8 0 5 0
21 to 24 years 1 1 0 0 0
25 years 4 4 0 0 0
26 to 29 years 7 7 0 0 0
30 years 224 176 0 46 2
More than 30 years 0 0 0 0 0
No stated term 132 106 8 17 1
Median 30 30 5- 30 10

Unexpired Term of First Mortgage

Less than 5 years
16 16 0 0 0
5 to 9 years 26 21 0 1 4
10 to 14 years 21 21 0 0 0
15 to 19 years 12 5 0 6 0
20 to 24 years 45 38 0 5 2
25 to 29 years 135 103 0 32 0
30 or more years 41 33 0 8 0
No stated term or not computed 132 106 8 17 1
Median 26 25 5- 27 8

Holder of First Mortgage

Commercial bank or trust company
77 51 5 20 1
Savings and loan association, federal
savings bank
51 44 0 3 4
Mutual savings bank 9 4 0 5 0
Life insurance company 13 12 0 1 0
Mortgage banker or mortgage company 37 26 0 11 0
Federally-sponsored secondary market
agency or pool
178 150 0 26 2
Conventional mortgage pool 4 4 0 0 0
Other federal agency 18 14 0 3 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 4 4 0 0 0
Credit union 17 15 2 0 0
Finance company 3 3 0 0 0
State or municipal government or
housing finance agency
4 4 0 0 0
Individual or individual's estate 6 6 0 0 0
Other 7 7 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
343 277 3 56 7
Less than 40 percent 18 16 0 1 0
40 to 49 percent 30 26 0 0 4
50 to 59 percent 17 17 0 0 0
60 to 69 percent 37 34 0 3 0
70 to 79 percent 23 19 0 3 1
80 to 89 percent 73 64 3 5 0
90 to 94 percent 22 15 0 6 0
95 to 99 percent 63 42 0 21 0
100 percent or more 56 40 0 14 2
Not reported 3 2 0 1 0
Median 86 83 85 96 49
Other properties 84 66 4 14 0
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
343 277 3 56 7
Less than 40 percent 22 16 0 1 4
40 to 49 percent 24 24 0 0 0
50 to 59 percent 14 14 0 0 0
60 to 69 percent 55 49 0 6 0
70 to 79 percent 33 32 0 0 1
80 to 89 percent 67 56 3 8 0
90 to 94 percent 26 19 0 6 0
95 to 99 percent 63 44 0 20 0
100 percent or more 35 19 0 14 2
Not reported 3 2 0 1 0
Median 83 80 85 96 40-
Other properties 84 66 4 14 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
16 11 0 4 0
Not subprime loan 411 331 8 65 7
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
77 0 0 70 7
Treasury security 32 0 0 32 0
Average cost of funds in bank district 5 0 0 5 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 2 0 0 2 0
No index used 8 0 0 8 0
Not reported 30 0 0 23 7
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
77 0 0 70 7
Monthly 1 0 0 1 0
Every 3 months 0 0 0 0 0
Every 6 months 10 0 0 10 0
Yearly 26 0 0 26 0
Every 3 years 0 0 0 0 0
Every 5 years 1 0 0 1 0
Other 0 0 0 0 0
Not reported 38 0 0 30 7
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
77 0 0 70 7
Less than 1 percent 0 0 0 0 0
1 percent 1 0 0 1 0
1.1 to 1.9 percent 0 0 0 0 0
2 percent 18 0 0 18 0
2.1 to 2.9 percent 8 0 0 8 0
3 percent 1 0 0 1 0
3.1 to 3.9 percent 5 0 0 5 0
4.0 percent or more 6 0 0 6 0
No caps 0 0 0 0 0
Not reported 38 0 0 30 7
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
77 0 0 70 7
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 39 0 0 39 0
No caps 0 0 0 0 0
Not reported 38 0 0 30 7
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
77 0 0 70 7
Yes, rate has changed 32 0 0 32 0
No change since mortgage made 7 0 0 7 0
Not reported 38 0 0 30 7
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
77 0 0 70 7
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 3 0 0 3 0
2.1 to 2.9 percent 17 0 0 17 0
3 percent 10 0 0 10 0
3.1 to 3.9 percent 0 0 0 0 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 2 0 0 2 0
Not reported 44 0 0 37 7
Median 2.8 0.0 0.0 2.8 0.0
Other properties 350 343 8 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
77 0 0 70 7
Can be converted 5 0 0 5 0
Cannot be converted 28 0 0 28 0
Not reported 43 0 0 36 7
Other properties 350 343 8 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
0 0 0 0 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 0 0 0 0 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
384 343 8 33 0
Not reported 43 0 0 36 7

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
0 0 0 0 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot change 384 343 8 33 0
Not reported 43 0 0 36 7

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
420 337 8 68 7
Interest and principal 419 336 8 68 7
Fully amortized 394 322 0 68 3
Not fully amortized 25 14 8 0 4
Interest only 1 1 0 0 0
No regular payments required 0 0 0 0 0
Not reported 6 5 0 1 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
419 336 8 68 7
Real estate taxes 188 158 0 30 0
Property insurance 39 36 0 3 0
Mortgage insurance 77 60 0 17 0
Other 55 50 0 5 0
No items included or not reported 226 173 8 38 7
No regular payments of interest
and principal
8 7 0 1 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
420 337 8 68 7
Less than $100 1 0 0 1 0
$100 to $199 11 10 0 1 0
$200 to $299 36 34 0 1 0
$300 to $399 46 37 0 5 4
$400 to $499 74 59 0 13 2
$500 to $599 63 45 2 15 0
$600 to $699 51 35 3 13 0
$700 to $799 21 14 2 5 0
$800 to $899 11 10 0 0 1
$900 to $999 18 16 0 1 0
$1,000 to $1,249 54 47 0 7 0
$1,250 to $1,499 9 9 0 0 0
$1,500 or more 26 21 0 5 0
Median 567 562 645 585 390
Mean 689 695 653 686 451
No regular payments required 0 0 0 0 0
Not reported 6 5 0 1 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
427 343 8 70 7
Up-to-date, ahead of schedule, or
less than 90 days past due
238 195 0 43 0
Delinquent by 90 days or more 8 6 0 2 0
Legal proceedings have begun 8 6 0 2 0
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 182 142 8 25 7
Other properties 0 0 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
420 337 8 68 7
Less than $100 1 0 0 1 0
$100 to $199 11 10 0 1 0
$200 to $299 32 30 0 1 0
$300 to $399 33 26 0 4 4
$400 to $499 74 59 0 13 2
$500 to $599 69 50 2 16 0
$600 to $699 37 27 3 7 0
$700 to $799 28 21 2 5 0
$800 to $899 13 12 0 0 1
$900 to $999 28 26 0 1 0
$1,000 to $1,249 58 47 0 11 0
$1,250 to $1,499 9 9 0 0 0
$1,500 or more 28 21 0 7 0
Median 586 587 645 586 390
Mean 720 723 653 743 451
No regular monthly payments
required
6 5 0 1 0

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
420 337 8 68 7
Less than 5 percent 13 12 0 1 0
5 to 9 percent 101 88 0 13 0
10 to 14 percent 108 87 3 10 7
15 to 19 percent 82 71 2 9 0
20 to 24 percent 38 30 0 8 0
25 to 29 percent 17 8 0 8 0
30 to 34 percent 7 5 2 0 0
35 to 39 percent 6 6 0 0 0
40 to 49 percent 3 1 0 1 0
50 percent or more 10 4 0 5 0
Not reported or not computed 36 24 0 12 0
Median 13.6 13.2 15.8 17.3 12.5
No regular monthly payments
required
6 5 0 1 0

Rental and vacant condominium
properties with traditional first
mortgage
110 91 15 4 0

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
95 76 15 4 0
Placed one new mortgage 91 72 15 4 0
Placed two or more new mortgages 0 0 0 0 0
Assumed mortgage(s) already on property 0 0 0 0 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
0 0 0 0 0
Paid all cash-no borrowing 0 0 0 0 0
Other manner 4 4 0 0 0
By inheritance or gift 2 2 0 0 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
0 0 0 0 0
By foreclosure or assignment 0 0 0 0 0
By some other manner 11 11 0 0 0
Not reported 2 2 0 0 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
68 51 15 2 0
Sale of stock or other partnership
shares for this project
0 0 0 0 0
Sale of previously owned stocks,
shares, or other securities
0 0 0 0 0
Sale of land or other real estate 9 9 0 0 0
Owner's cash, bank deposits,
share accounts, or bonds
45 30 15 0 0
Borrowing from a retirement plan 0 0 0 0 0
Borrowing using assets other than this
property as collateral
3 3 0 0 0
Proceeds from an insurance policy 0 0 0 0 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 13 11 0 2 0
Other cash source 0 0 0 0 0
Non-cash source 4 4 0 0 0
No downpayment required 0 0 0 0 0
Not reported 9 9 0 0 0
Other properties 39 37 0 2 0
Not reported 2 2 0 0 0

Year Property Acquired

1999 to 2001 (part)
15 13 0 2 0
1997 and 1998 35 30 5 0 0
1995 and 1996 23 13 10 0 0
1990 to 1994 23 23 0 0 0
1985 to 1989 4 4 0 0 0
1980 to 1984 6 4 0 2 0
1975 to 1979 5 5 0 0 0
1970 to 1974 0 0 0 0 0
1969 or earlier 0 0 0 0 0

Property New or Previously Owned When
Acquired

Acquired by purchase
95 76 15 4 0
New 50 33 15 2 0
Previously owned 43 41 0 2 0
As residential property 43 41 0 2 0
Converted from nonresidential use 0 0 0 0 0
Other 0 0 0 0 0
Not reported 2 2 0 0 0
Other properties 13 13 0 0 0
Not reported 2 2 0 0 0

Year Structure Built

1999 to March 2000
3 3 0 0 0
1997 and 1998 11 11 0 0 0
1995 and 1996 19 9 10 0 0
1990 to 1994 12 12 0 0 0
1980 to 1989 13 7 5 2 0
1970 to 1979 27 27 0 0 0
1960 to 1969 15 13 0 2 0
1950 to 1959 0 0 0 0 0
1940 to 1949 4 4 0 0 0
1939 or earlier 5 5 0 0 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
46 39 5 2 0
Less than $20,000 5 5 0 0 0
$20,000 to $39,999 10 5 5 0 0
$40,000 to $59,999 2 2 0 0 0
$60,000 to $79,999 17 15 0 2 0
$80,000 to $99,999 5 5 0 0 0
$100,000 to $124,999 7 7 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 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 67066 69849 30000 70000 20000-
Mean 60661 63389 39000 60000 0
Other properties 64 52 10 2 0

Value

Less than $20,000
0 0 0 0 0
$20,000 to $39,999 0 0 0 0 0
$40,000 to $59,999 22 12 10 0 0
$60,000 to $79,999 26 24 0 2 0
$80,000 to $99,999 10 10 0 0 0
$100,000 to $124,999 22 15 5 2 0
$125,000 to $149,999 2 2 0 0 0
$150,000 to $174,999 4 4 0 0 0
$175,000 to $199,999 5 5 0 0 0
$200,000 to $249,999 5 5 0 0 0
$250,000 to $299,999 14 14 0 0 0
$300,000 to $499,999 0 0 0 0 0
$500,000 or more 0 0 0 0 0
Median 94243 99480 54710 101566 20000-
Mean 114571 123993 64651 88335 0

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
43 34 5 4 0
Less than $500 2 2 0 0 0
$500 to $999 5 5 0 0 0
$1,000 to $2,499 17 11 5 2 0
$2,500 to $4,999 6 6 0 0 0
$5,000 to $7,499 6 4 0 2 0
$7,500 to $9,999 0 0 0 0 0
$10,000 to $14,999 5 5 0 0 0
$15,000 to $19,999 0 0 0 0 0
$20,000 to $29,999 0 0 0 0 0
$30,000 or more 2 2 0 0 0
Median 2255 2419 1750 5156 500-
Mean 22649 28046 1175 3134 0
Properties with no capital
improvements between 1998 and 2000
46 36 10 0 0
Capital improvements not
reported
21 21 0 0 0

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
99 80 15 4 0
Less than $100 2 0 0 2 0
$100 to $199 2 2 0 0 0
$200 to $299 6 6 0 0 0
$300 to $399 7 7 0 0 0
$400 to $499 0 0 0 0 0
$500 to $599 18 16 0 2 0
$600 to $799 19 9 10 0 0
$800 to $999 8 4 5 0 0
$1000 or more 25 25 0 0 0
No rental receipts 12 12 0 0 0
Median 692 676 747 100- 100-
Mean 8769 10715 693 289 0
Acquired 2000 and 2001 (part) 11 11 0 0 0

Rental Receipts as Percent of Value@8

Acquired before 2000
99 80 15 4 0
Less than 5 percent 6 3 0 2 0
5 to 9 percent 25 23 0 2 0
10 to 14 percent 36 31 5 0 0
15 to 19 percent 10 0 10 0 0
20 to 24 percent 0 0 0 0 0
25 to 29 percent 0 0 0 0 0
30 to 39 percent 0 0 0 0 0
40 percent or more 11 11 0 0 0
Median 11 11 16 5- 5-
Acquired 2000 and 2001 (part) 11 11 0 0 0

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
99 80 15 4 0
Less than 1.0 percent 33 23 10 0 0
1.0 to 2.9 percent 5 0 5 0 0
3.0 to 4.9 percent 1 1 0 0 0
5.0 to 6.9 percent 0 0 0 0 0
7.0 to 8.9 percent 9 9 0 0 0
9.0 to 10.9 percent 0 0 0 0 0
11.0 to 12.9 percent 0 0 0 0 0
13.0 to 14.9 percent 0 0 0 0 0
15.0 percent or more 9 7 0 2 0
Not reported or not computed 42 40 0 2 0
Median 0.9 0.9 0.7 57.5 0.0
Acquired 2000 and 2001 (part) 11 11 0 0 0

Age Restrictions

Condominium building restricted to
people age 55 or older
23 18 5 0 0
Condominium building not restricted to
people age 55 or older
87 73 10 4 0
Not reported 0 0 0 0 0

Meal Service Provided for
Age-Restricted Condominiums

Meal serviced provided
8 8 0 0 0
Charge included in rent 7 7 0 0 0
Charge not included in rent 0 0 0 0 0
Not reported 1 1 0 0 0
Meal service not provided 9 9 0 0 0
Not reported 93 74 15 4 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
0 0 0 0 0
Government rental subsidy 0 0 0 0 0
Government grant 0 0 0 0 0
Property tax relief 0 0 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 88 71 15 2 0
Not reported 22 19 0 2 0

Source of Property Benefits@1

With property benefits
0 0 0 0 0
Federal government 0 0 0 0 0
State government 0 0 0 0 0
Local government 0 0 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 0 0 0 0 0
With no property benefits 88 71 15 2 0
Not reported 22 19 0 2 0

Reason for Benefits@1

With property benefits
0 0 0 0 0
Occupied by low- or moderate-income
individuals
0 0 0 0 0
Occupied by elderly or disabled
individuals
0 0 0 0 0
A historic structure 0 0 0 0 0
Located in a community development or
economic development area
0 0 0 0 0
Covered by a Homestead Exemption 0 0 0 0 0
Covered by a Community Land Trust 0 0 0 0 0
Covered by disaster relief 0 0 0 0 0
Other reason 0 0 0 0 0
Not reported 0 0 0 0 0
With no property benefits 88 71 15 2 0
Not reported 22 19 0 2 0

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
71 67 0 4 0
Limited partnership 12 2 10 0 0
Joint venture 0 0 0 0 0
General partnership 5 5 0 0 0
Life insurance company 0 0 0 0 0
Depository institution 0 0 0 0 0
Public real estate investment trust 0 0 0 0 0
Private real estate investment trust 0 0 0 0 0
Corporation - other than real estate
investment trust
12 7 5 0 0
Housing cooperative organization 0 0 0 0 0
Non-profit or church-related institution 0 0 0 0 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 10 10 0 0 0

MORTGAGE CHARACTERISTICS


Origin of First Mortgage

Mortgage made at time property acquired
91 72 15 4 0
Mortgage assumed at the time property
acquired
0 0 0 0 0
Mortgage placed later than acquisition of
property
18 18 0 0 0
Refinanced mortgage 18 18 0 0 0
Same lender 7 7 0 0 0
Different lender 12 12 0 0 0
Mortgage placed on property
owned free and clear of debt
0 0 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
18 18 0 0 0
Obtain lower interest rate 2 2 0 0 0
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
5 5 0 0 0
Receive cash or increase outstanding
balance of loan
5 5 0 0 0
Other reason 0 0 0 0 0
Not reported 7 7 0 0 0
Other properties 91 72 15 4 0
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
5 5 0 0 0
Less than $20,000 5 5 0 0 0
$20,000 to $39,999 0 0 0 0 0
$40,000 to $59,999 0 0 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 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 15000 15000 0 0 0
Properties that refinanced
and did not receive cash back
14 14 0 0 0
Properties that refinanced
and did not report if received
cash back
0 0 0 0 0
Properties that did not
refinance
91 72 15 4 0
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
5 5 0 0 0
For additions, improvements or repairs
to this property
0 0 0 0 0
To consolidate debts 0 0 0 0 0
For investment in other real estate 0 0 0 0 0
For other types of investments 5 5 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
0 0 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
14 14 0 0 0
Properties that refinanced
and did not report if received
cash back
0 0 0 0 0
Properties that did not
refinance
91 72 15 4 0
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
31 29 0 2 0
1997 and 1998 30 25 5 0 0
1995 and 1996 23 13 10 0 0
1990 to 1994 20 20 0 0 0
1985 to 1989 4 4 0 0 0
1980 to 1984 2 0 0 2 0
1979 or earlier 0 0 0 0 0

First Mortgage Insurance Status

FHA-insured first mortgage
0 0 0 0 0
VA-guaranteed first mortgage 0 0 0 0 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
2 2 0 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
0 0 0 0 0
Insured conventional first mortgage 19 19 0 0 0
Uninsured conventional first mortgage 89 69 15 4 0
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
0 0 0 0 0
$20,000 to $29,999 2 2 0 0 0
$30,000 to $39,999 5 5 0 0 0
$40,000 to $49,999 11 9 0 2 0
$50,000 to $59,999 10 10 0 0 0
$60,000 to $79,999 22 15 5 2 0
$80,000 to $99,999 18 18 0 0 0
$100,000 to $149,999 19 19 0 0 0
$150,000 to $199,999 18 7 10 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
Not reported 5 5 0 0 0
Median 83262 82590 163223 61252 20000-
Mean 94047 86891 145994 54342 0

Total Mortgage Loan

Less than $20,000
0 0 0 0 0
$20,000 to $29,999 2 2 0 0 0
$30,000 to $39,999 5 5 0 0 0
$40,000 to $49,999 11 9 0 2 0
$50,000 to $59,999 10 10 0 0 0
$60,000 to $79,999 22 15 5 2 0
$80,000 to $99,999 18 18 0 0 0
$100,000 to $149,999 19 19 0 0 0
$150,000 to $199,999 7 7 0 0 0
$200,000 to $249,999 10 0 10 0 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 0 0 0 0 0
Not reported 5 5 0 0 0
Median 83262 82590 213223 61252 20000-
Mean 96382 86891 162335 54342 0

Traditional First Mortgage Outstanding
Debt

Less than $10,000
0 0 0 0 0
$10,000 to $19,999 0 0 0 0 0
$20,000 to $29,999 13 11 0 2 0
$30,000 to $39,999 0 0 0 0 0
$40,000 to $49,999 15 15 0 0 0
$50,000 to $59,999 7 7 0 0 0
$60,000 to $79,999 26 19 5 2 0
$80,000 to $99,999 7 7 0 0 0
$100,000 to $149,999 19 19 0 0 0
$150,000 to $199,999 18 7 10 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
Not reported 5 5 0 0 0
Median 73551 70599 163223 61252 10000-
Mean 85244 78347 135668 45695 0

Current Interest Rate on First Mortgage

Less than 6.0 percent
29 27 0 2 0
6.0 percent 0 0 0 0 0
6.1 to 6.4 percent 0 0 0 0 0
6.5 to 6.9 percent 16 14 0 2 0
7.0 percent 18 8 10 0 0
7.1 to 7.4 percent 15 15 0 0 0
7.5 to 7.9 percent 10 5 5 0 0
8.0 percent 2 2 0 0 0
8.1 to 8.4 percent 0 0 0 0 0
8.5 to 8.9 percent 0 0 0 0 0
9.0 percent 4 4 0 0 0
9.1 to 9.4 percent 0 0 0 0 0
9.5 to 9.9 percent 0 0 0 0 0
10.0 percent 0 0 0 0 0
10.1 to 10.4 percent 0 0 0 0 0
10.5 to 10.9 percent 4 4 0 0 0
11.0 percent 0 0 0 0 0
11.1 to 12.9 percent 0 0 0 0 0
13.0 percent 0 0 0 0 0
13.1 percent or more 12 12 0 0 0
Not reported 0 0 0 0 0
Median 7.1 7.1 7.1 6.5 0.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
0 0 0 0 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 0 0 0 0 0
Properties without interest
rate buydown
53 48 0 4 0
Not reported 57 42 15 0 0

Term of First Mortgage

Less than 5 years
10 0 10 0 0
5 years 0 0 0 0 0
6 to 9 years 0 0 0 0 0
10 years 0 0 0 0 0
11 to 14 years 1 1 0 0 0
15 years 13 13 0 0 0
16 to 19 years 0 0 0 0 0
20 years 12 7 5 0 0
21 to 24 years 4 4 0 0 0
25 years 2 2 0 0 0
26 to 29 years 0 0 0 0 0
30 years 27 23 0 4 0
More than 30 years 0 0 0 0 0
No stated term 41 41 0 0 0
Median 20 24 5- 30 5-

Unexpired Term of First Mortgage

Less than 5 years
12 1 10 0 0
5 to 9 years 1 1 0 0 0
10 to 14 years 7 5 0 2 0
15 to 19 years 26 22 5 0 0
20 to 24 years 14 14 0 0 0
25 to 29 years 9 7 0 2 0
30 or more years 0 0 0 0 0
No stated term or not computed 41 41 0 0 0
Median 17 19 5- 25 5-

Holder of First Mortgage

Commercial bank or trust company
10 8 0 2 0
Savings and loan association, federal
savings bank
18 11 5 2 0
Mutual savings bank 0 0 0 0 0
Life insurance company 0 0 0 0 0
Mortgage banker or mortgage company 26 26 0 0 0
Federally-sponsored secondary market
agency or pool
46 35 10 0 0
Conventional mortgage pool 0 0 0 0 0
Other federal agency 4 4 0 0 0
Real estate investment trust 0 0 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 0 0 0 0 0
Finance company 0 0 0 0 0
State or municipal government or
housing finance agency
0 0 0 0 0
Individual or individual's estate 0 0 0 0 0
Other 5 5 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
84 64 15 4 0
Less than 40 percent 0 0 0 0 0
40 to 49 percent 0 0 0 0 0
50 to 59 percent 0 0 0 0 0
60 to 69 percent 7 7 0 0 0
70 to 79 percent 8 8 0 0 0
80 to 89 percent 12 12 0 0 0
90 to 94 percent 11 9 0 2 0
95 to 99 percent 7 7 0 0 0
100 percent or more 33 16 15 2 0
Not reported 5 5 0 0 0
Median 95 91 100+ 100+ 40-
Other properties 26 26 0 0 0
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
84 64 15 4 0
Less than 40 percent 0 0 0 0 0
40 to 49 percent 0 0 0 0 0
50 to 59 percent 0 0 0 0 0
60 to 69 percent 12 12 0 0 0
70 to 79 percent 29 14 15 0 0
80 to 89 percent 8 4 0 4 0
90 to 94 percent 12 12 0 0 0
95 to 99 percent 4 4 0 0 0
100 percent or more 13 13 0 0 0
Not reported 5 5 0 0 0
Median 79 89 75 85 40-
Other properties 26 26 0 0 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
0 0 0 0 0
Not subprime loan 110 91 15 4 0
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
4 0 0 4 0
Treasury security 4 0 0 4 0
Average cost of funds in bank district 0 0 0 0 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 0 0 0 0 0
No index used 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
4 0 0 4 0
Monthly 2 0 0 2 0
Every 3 months 0 0 0 0 0
Every 6 months 0 0 0 0 0
Yearly 0 0 0 0 0
Every 3 years 2 0 0 2 0
Every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
4 0 0 4 0
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 2 0 0 2 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 0 0 0 0 0
No caps 2 0 0 2 0
Not reported 0 0 0 0 0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
4 0 0 4 0
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 4 0 0 4 0
No caps 0 0 0 0 0
Not reported 0 0 0 0 0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
4 0 0 4 0
Yes, rate has changed 2 0 0 2 0
No change since mortgage made 2 0 0 2 0
Not reported 0 0 0 0 0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
4 0 0 4 0
Less than 1 percent 2 0 0 2 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 2 0 0 2 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 0 0 0 0 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 0 0 0 0 0
Not reported 0 0 0 0 0
Median 2.2 0.0 0.0 2.2 0.0
Other properties 106 91 15 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
4 0 0 4 0
Can be converted 0 0 0 0 0
Cannot be converted 4 0 0 4 0
Not reported 0 0 0 0 0
Other properties 106 91 15 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
0 0 0 0 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 0 0 0 0 0
Payments can change every 3 years 0 0 0 0 0
Payments can change every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot
change
110 91 15 4 0
Not reported 0 0 0 0 0

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
0 0 0 0 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 0 0 0 0 0
Not reported 0 0 0 0 0
Monthly payments cannot change 110 91 15 4 0
Not reported 0 0 0 0 0

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
94 75 15 4 0
Interest and principal 92 75 15 2 0
Fully amortized 74 67 5 2 0
Not fully amortized 18 8 10 0 0
Interest only 2 0 0 2 0
No regular payments required 9 9 0 0 0
Not reported 7 7 0 0 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
92 75 15 2 0
Real estate taxes 25 25 0 0 0
Property insurance 15 15 0 0 0
Mortgage insurance 2 2 0 0 0
Other 2 2 0 0 0
No items included or not reported 61 44 15 2 0
No regular payments of interest
and principal
18 16 0 2 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
94 75 15 4 0
Less than $100 5 5 0 0 0
$100 to $199 0 0 0 0 0
$200 to $299 10 8 0 2 0
$300 to $399 16 16 0 0 0
$400 to $499 6 4 0 2 0
$500 to $599 4 4 0 0 0
$600 to $699 16 11 5 0 0
$700 to $799 7 7 0 0 0
$800 to $899 0 0 0 0 0
$900 to $999 0 0 0 0 0
$1,000 to $1,249 9 9 0 0 0
$1,250 to $1,499 0 0 0 0 0
$1,500 or more 22 12 10 0 0
Median 641 611 1500+ 406 100-
Mean 808 752 1217 338 0
No regular payments required 9 9 0 0 0
Not reported 7 7 0 0 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
101 82 15 4 0
Up-to-date, ahead of schedule, or
less than 90 days past due
48 39 5 4 0
Delinquent by 90 days or more 0 0 0 0 0
Legal proceedings have begun 0 0 0 0 0
Legal proceedings have not begun 0 0 0 0 0
Not reported 0 0 0 0 0
Not reported 53 43 10 0 0
Other properties 9 9 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
94 75 15 4 0
Less than $100 5 5 0 0 0
$100 to $199 0 0 0 0 0
$200 to $299 10 8 0 2 0
$300 to $399 16 16 0 0 0
$400 to $499 6 4 0 2 0
$500 to $599 4 4 0 0 0
$600 to $699 16 11 5 0 0
$700 to $799 7 7 0 0 0
$800 to $899 0 0 0 0 0
$900 to $999 0 0 0 0 0
$1,000 to $1,249 9 9 0 0 0
$1,250 to $1,499 0 0 0 0 0
$1,500 or more 22 12 10 0 0
Median 641 611 1500+ 406 100-
Mean 808 752 1217 338 0
No regular monthly payments
required
16 16 0 0 0

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

Acquired before 2000 and
regular payments of interest
and/or princi
85 66 15 4 0
Less than 20 percent 16 16 0 0 0
20 to 29 percent 0 0 0 0 0
30 to 39 percent 2 2 0 0 0
40 to 49 percent 6 4 0 2 0
50 to 59 percent 3 3 0 0 0
60 to 69 percent 7 2 5 0 0
70 to 79 percent 6 6 0 0 0
80 to 89 percent 5 5 0 0 0
90 to 99 percent 0 0 0 0 0
100 percent or more 29 17 10 2 0
Not reported or not computed 12 12 0 0 0
Median 75.3 70.2 99.5+ 99.5+ 19.5-
Other properties 25 25 0 0 0

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

Acquired before 2000 and regular
payments of interest and/or
principal
85 66 15 4 0
Less than 20 percent 16 16 0 0 0
20 to 29 percent 0 0 0 0 0
30 to 39 percent 2 2 0 0 0
40 to 49 percent 6 4 0 2 0
50 to 59 percent 3 3 0 0 0
60 to 69 percent 7 2 5 0 0
70 to 79 percent 6 6 0 0 0
80 to 89 percent 5 5 0 0 0
90 to 99 percent 0 0 0 0 0
100 percent or more 29 17 10 2 0
Not reported or not computed 12 12 0 0 0
Median 75.3 70.2 99.5+ 99.5+ 19.5-
Other properties 25 25 0 0 0

Real Estate Tax Per $1,000 Value

Acquired before 2000
99 80 15 4 0
Less than $5 2 2 0 0 0
$5 to $9 20 16 0 4 0
$10 to $14 14 9 5 0 0
$15 to $19 18 8 10 0 0
$20 to $24 15 15 0 0 0
$25 to $29 9 9 0 0 0
$30 to $39 10 10 0 0 0
$40 to $49 0 0 0 0 0
$50 to $59 0 0 0 0 0
$60 or more 6 6 0 0 0
Not reported or not computed 5 5 0 0 0
Median 18 20 16 7 5-
Acquired 2000 and 2001 (part) 11 11 0 0 0

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
99 80 15 4 0
Less than 5 percent 5 5 0 0 0
5 to 9 percent 19 17 0 2 0
10 to 14 percent 24 9 15 0 0
15 to 19 percent 3 3 0 0 0
20 to 24 percent 7 7 0 0 0
25 to 29 percent 2 2 0 0 0
30 to 34 percent 5 5 0 0 0
35 to 39 percent 1 1 0 0 0
40 percent or more 16 13 0 2 0
Not reported or not computed 17 17 0 0 0
Median 13 14 12 40+ 5-
Acquired 2000 and 2001 (part) 11 11 0 0 0

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