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Residential Finance Survey: 2001 - West
Table 8-2e. 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
707 536 32 129 10

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
650 490 30 119 10
Placed one new mortgage 601 460 25 110 6
Placed two or more new mortgages 23 11 4 3 4
Assumed mortgage(s) already on property 16 9 0 7 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
2 2 0 0 0
Paid all cash-no borrowing 7 7 0 0 0
Other manner 0 0 0 0 0
By inheritance or gift 3 3 0 0 0
By divorce 0 0 0 0 0
By some other manner 9 6 2 1 0
Not reported 45 36 0 9 0

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
426 324 16 80 6
Sale of previous home 80 71 0 9 0
Sale of other real property or other
investments
47 26 0 21 0
Savings 229 172 11 41 6
Borrowing from a retirement plan 27 22 0 5 0
Borrowing using assets other than this
property as collateral
2 0 0 2 0
Proceeds from an insurance policy 5 4 1 0 0
Payments in a lease-purchase agreement 0 0 0 0 0
From a state or local government source 9 4 0 5 0
From a non-profit organization 1 1 0 0 0
From parents or relatives 50 34 4 12 0
Other 4 4 0 0 0
No downpayment required 26 21 2 4 0
Not reported 21 21 0 0 0
Other properties 246 185 16 41 4
Not reported 35 26 0 9 0

Year Property Acquired

1999 to 2001 (part)
267 198 8 56 6
1997 and 1998 115 91 7 16 0
1995 and 1996 85 65 1 18 0
1990 to 1994 136 93 13 26 4
1985 to 1989 62 47 3 12 0
1980 to 1984 27 27 0 0 0
1975 to 1979 3 3 0 0 0
1970 to 1974 13 11 0 2 0
1969 or earlier 0 0 0 0 0

Property New or Previously Occupied When
Acquired

Acquired by purchase
650 490 30 119 10
New 131 108 1 22 0
Previously occupied by someone else 514 380 29 95 10
Converted from non-residential use 0 0 0 0 0
Other 0 0 0 0 0
Not reported 5 3 0 2 0
Other properties 12 9 2 1 0
Not reported 45 36 0 9 0

Year Structure Built

1999 to March 2000
34 33 0 1 0
1997 and 1998 52 32 5 15 0
1995 and 1996 60 46 0 14 0
1990 to 1994 82 63 4 14 0
1980 to 1989 200 154 7 36 4
1970 to 1979 225 160 15 46 4
1960 to 1969 44 40 1 1 2
1950 to 1959 1 1 0 0 0
1940 to 1949 2 2 0 0 0
1939 or earlier 6 4 0 1 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
357 271 15 64 6
Less than $20,000 0 0 0 0 0
$20,000 to $39,999 4 2 0 2 0
$40,000 to $59,999 12 6 0 6 0
$60,000 to $79,999 46 37 5 4 0
$80,000 to $99,999 31 27 0 4 0
$100,000 to $124,999 52 44 0 8 0
$125,000 to $149,999 44 33 2 7 1
$150,000 to $174,999 39 23 0 16 0
$175,000 to $199,999 19 19 0 0 0
$200,000 to $249,999 36 28 0 7 0
$250,000 to $299,999 22 22 0 0 0
$300,000 to $499,999 49 28 8 7 4
$500,000 or more 3 1 0 1 0
Median 143548 139648 322764 149886 371405
Mean 174777 165601 287962 165618 414616
Other properties 350 264 17 65 4

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 8 6 0 2 0
$60,000 to $79,999 69 55 3 12 0
$80,000 to $99,999 60 49 2 9 0
$100,000 to $124,999 92 72 4 12 4
$125,000 to $149,999 70 47 6 16 1
$150,000 to $174,999 58 42 4 13 0
$175,000 to $199,999 54 37 1 16 0
$200,000 to $249,999 91 79 0 12 0
$250,000 to $299,999 69 51 4 14 0
$300,000 to $499,999 105 79 4 17 4
$500,000 or more 31 19 4 7 0
Median 173118 173502 157701 176951 139520
Mean 205263 200896 247268 206444 289155

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
228 154 15 59 0
Less than $500 5 3 0 2 0
$500 to $999 6 2 0 4 0
$1,000 to $2,499 52 35 2 16 0
$2,500 to $4,999 49 34 9 6 0
$5,000 to $7,499 44 26 2 16 0
$7,500 to $9,999 3 3 0 0 0
$10,000 to $14,999 28 15 0 13 0
$15,000 to $19,999 11 8 2 1 0
$20,000 to $29,999 12 12 0 0 0
$30,000 or more 18 17 0 1 0
Median 5084 5257 4046 5340 500-
Mean 9357 11150 4922 5770 0
Properties with no capital
improvements between 1998 and 2000
402 320 13 59 10
Capital improvements not
reported
77 61 5 11 0

Age Restrictions

Condominium building restricted to
people age 55 or older
38 26 1 11 0
Condominium building not restricted to
people age 55 or older
637 484 31 113 10
Not reported 31 26 0 6 0

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
17 17 0 0 0
Other government grant or subsidy 6 5 0 1 0
Property tax relief 3 2 0 1 0
Subsidy from a non-profit corporation 0 0 0 0 0
None of the above benefits 482 365 28 81 8
Not reported 199 147 4 46 2

Source of Property Benefits@1

With property benefits
26 24 0 2 0
Federal government 12 12 0 0 0
State government 8 8 0 0 0
Local government 7 5 0 2 0
Non-profit corporation 0 0 0 0 0
Not reported 0 0 0 0 0
With no property benefits 482 365 28 81 8
Not reported 199 147 4 46 2

Reason for Benefits@1

With property benefits
26 24 0 2 0
Occupied by low- or moderate-income
individuals
8 7 0 1 0
Occupied by elderly or disabled
individuals
2 2 0 0 0
A historic structure 1 1 0 0 0
Located in a community development or
economic development area
4 3 0 1 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 15 15 0 0 0
Not reported 0 0 0 0 0
With no property benefits 482 365 28 81 8
Not reported 199 147 4 46 2

OWNER CHARACTERISTICS


Owner Status

1 owner
407 315 25 65 2
2 owners 266 201 7 51 6
3 or more owners 34 20 0 13 1

Age of Owner

Under 25
14 11 0 3 0
25 to 34 107 76 13 17 0
35 to 44 144 101 10 28 4
45 to 54 172 121 4 43 4
55 to 64 105 90 1 14 0
65 to 74 90 69 3 17 1
75 and over 35 29 0 7 0
Not reported 40 39 1 0 0
Median 48 49 37 48 46

Race of Owner

White alone
578 432 22 118 7
Black or African American alone 22 22 0 0 0
American Indian or Alaska Native alone 5 0 0 5 0
Asian alone 88 71 8 5 3
Native Hawaiian or Other Pacific
Islander alone
5 5 0 0 0
Two or more races 9 5 2 2 0

Sex of Owner

Male/Male and female co-owners
459 327 23 98 10
Female 248 209 9 31 0

Hispanic/Latino Origin

Hispanic/Latino owner(s) only
56 40 5 11 0
No Hispanic/Latino owner(s) 651 496 27 118 10

Veteran Status@1

Veteran
166 132 2 31 1
Active member of Reserves or National
Guard for at least 6 years
17 15 0 2 0
Persian Gulf War or after
(August 1990 to present)
17 15 2 0 0
Vietnam or after
(August 1964 to July 1990)
84 70 0 13 1
Korean conflict or after
(July 1950 to July 1964)
52 37 0 15 0
World War II or after
(September 1940 to June 1950)
32 28 0 4 0
Nonveteran 504 370 29 98 7
Not reported 37 34 1 0 2

Income

Less than $5,000
54 46 2 5 2
$5,000 to $9,999 7 7 0 0 0
$10,000 to $14,999 29 24 0 5 0
$15,000 to $19,999 13 11 0 1 0
$20,000 to $24,999 21 9 5 6 0
$25,000 to $29,999 53 34 0 19 0
$30,000 to $34,999 32 25 1 6 0
$35,000 to $39,999 46 33 2 9 2
$40,000 to $49,999 89 72 0 17 0
$50,000 to $59,999 63 57 4 3 0
$60,000 to $79,999 119 89 8 22 0
$80,000 to $99,999 73 58 4 11 0
$100,000 to $119,999 27 14 0 7 6
$120,000 or more 81 56 6 19 0
Median 51504 51062 65469 48120 102583
Mean 65156 63847 78340 66405 76934

Owned Home Previously

Previously owned home
351 267 10 73 1
Never owned home before 314 228 21 56 9
Not reported 42 41 1 0 0

MORTGAGE CHARACTERISTICS


Method of Loan Application

By computer over the Internet or
by e-mail
11 11 0 0 0
By telephone or FAX 61 43 4 14 0
By regular mail 18 13 4 1 0
By personal visit 373 282 19 64 7
Through third party (such as real
estate agent or builder)
177 140 2 31 3
Some other way 2 2 0 0 0
Not reported 51 36 3 12 0
Not available 15 8 0 7 0

Origin of First Mortgage

Mortgage made at time property acquired
573 440 21 102 10
Mortgage assumed at the time property
acquired
20 13 0 7 0
Mortgage placed later than acquisition of
property
114 83 11 21 0
Refinanced mortgage 110 79 11 21 0
Same lender 42 31 2 9 0
Different lender 68 48 9 11 0
Mortgage placed on property
owned free and clear of debt
4 4 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
114 83 11 21 0
Obtain lower interest rate 78 54 7 17 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
4 3 0 1 0
Receive cash or increase outstanding
balance of loan
19 16 4 0 0
Other reason 0 0 0 0 0
Not reported 6 6 0 0 0
Other properties 593 453 21 109 10
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
36 27 4 5 0
Less than $20,000 15 13 2 0 0
$20,000 to $39,999 15 9 2 5 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 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 23530 20943 20000- 30000 20000-
Mean 37137 41590 14602 30659 0
Properties that refinanced
and did not receive cash back
64 51 5 8 0
Properties that refinanced
and did not report if received
cash back
15 5 2 8 0
Properties that did not
refinance
593 453 21 109 10
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
36 27 4 5 0
For additions, improvements or repairs
to this property
11 6 2 3 0
To consolidate debts 19 15 2 2 0
For investment in other real estate 7 5 0 2 0
For other types of investments 0 0 0 0 0
For educational or medical expenses 3 2 0 1 0
To start a business 0 0 0 0 0
To settle a divorce 0 0 0 0 0
To pay taxes 3 3 0 0 0
To purchase an automobile, truck, or
other vehicle
3 2 0 1 0
To purchase consumer product other than
automobile, truck, or other vehicle
2 0 2 0 0
Other 0 0 0 0 0
Not reported 0 0 0 0 0
Properties that refinanced
and did not receive cash back
64 51 5 8 0
Properties that refinanced
and did not report if received
cash back
15 5 2 8 0
Properties that did not
refinance
593 453 21 109 10
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
332 244 16 66 6
1997 and 1998 134 106 7 20 0
1995 and 1996 65 49 1 15 0
1990 to 1994 129 95 7 22 4
1985 to 1989 25 19 0 6 0
1980 to 1984 11 11 0 0 0
1979 or earlier 10 10 0 0 0

First Mortgage Insurance Status

FHA-insured first mortgage
116 99 4 12 1
VA-guaranteed first mortgage 35 34 0 2 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
5 1 2 1 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
10 3 0 7 0
Insured conventional first mortgage 83 60 5 18 0
Uninsured conventional first mortgage 459 339 21 90 9
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
8 8 0 0 0
$20,000 to $29,999 12 12 0 0 0
$30,000 to $39,999 14 12 0 2 0
$40,000 to $49,999 19 13 2 5 0
$50,000 to $59,999 62 42 5 13 2
$60,000 to $79,999 98 80 6 12 0
$80,000 to $99,999 72 52 1 19 0
$100,000 to $149,999 203 166 8 28 1
$150,000 to $199,999 115 86 2 27 0
$200,000 to $249,999 30 25 0 5 0
$250,000 to $299,999 29 23 0 6 0
$300,000 or more 35 10 8 12 4
Not reported 8 6 0 0 2
Median 115605 113788 112898 124666 300000+
Mean 127771 118983 163354 146868 256720

Total Mortgage Loan

Less than $20,000
8 8 0 0 0
$20,000 to $29,999 10 10 0 0 0
$30,000 to $39,999 14 12 0 2 0
$40,000 to $49,999 18 13 2 3 0
$50,000 to $59,999 62 40 5 14 2
$60,000 to $79,999 98 81 6 12 0
$80,000 to $99,999 67 48 1 17 0
$100,000 to $149,999 206 167 8 30 1
$150,000 to $199,999 115 86 2 27 0
$200,000 to $249,999 35 30 0 5 0
$250,000 to $299,999 30 24 0 6 0
$300,000 or more 35 10 8 12 4
Not reported 8 6 0 0 2
Median 117425 115701 112898 126075 300000+
Mean 129489 121055 163354 147670 256720

Traditional First Mortgage Outstanding
Debt

Less than $10,000
15 15 0 0 0
$10,000 to $19,999 8 8 0 0 0
$20,000 to $29,999 9 7 0 2 0
$30,000 to $39,999 28 26 0 1 0
$40,000 to $49,999 38 23 2 12 2
$50,000 to $59,999 54 36 5 13 0
$60,000 to $79,999 100 83 6 10 0
$80,000 to $99,999 88 72 3 13 0
$100,000 to $149,999 187 143 6 37 1
$150,000 to $199,999 90 69 2 19 0
$200,000 to $249,999 33 28 0 5 0
$250,000 to $299,999 21 17 0 4 0
$300,000 or more 29 4 8 12 4
Not reported 8 6 0 0 2
Median 102628 98738 99795 117118 300000+
Mean 119347 110413 154668 138842 252472

Total Mortgage Outstanding Debt

Less than $10,000
15 15 0 0 0
$10,000 to $19,999 6 6 0 0 0
$20,000 to $29,999 7 5 0 2 0
$30,000 to $39,999 28 26 0 1 0
$40,000 to $49,999 36 21 2 12 2
$50,000 to $59,999 58 40 5 13 0
$60,000 to $79,999 93 78 6 9 0
$80,000 to $99,999 92 74 3 15 0
$100,000 to $149,999 188 144 6 37 1
$150,000 to $199,999 89 68 2 19 0
$200,000 to $249,999 37 32 0 5 0
$250,000 to $299,999 21 17 0 4 0
$300,000 or more 29 4 8 12 4
Not reported 8 6 0 0 2
Median 103990 100229 99795 117118 300000+
Mean 119503 110981 154668 139604 203277

Current Interest Rate on First Mortgage

Less than 6.0 percent
182 106 23 45 9
6.0 percent 20 13 0 7 0
6.1 to 6.4 percent 21 4 4 13 0
6.5 to 6.9 percent 83 64 1 18 0
7.0 percent 57 43 0 14 0
7.1 to 7.4 percent 42 39 0 3 0
7.5 to 7.9 percent 101 96 0 4 1
8.0 percent 27 26 0 1 0
8.1 to 8.4 percent 22 21 0 1 0
8.5 to 8.9 percent 26 20 0 5 0
9.0 percent 5 5 0 0 0
9.1 to 9.4 percent 8 8 0 0 0
9.5 to 9.9 percent 12 9 0 2 0
10.0 percent 5 5 0 0 0
10.1 to 10.4 percent 2 0 0 2 0
10.5 to 10.9 percent 2 0 0 2 0
11.0 percent 4 4 0 0 0
11.1 to 12.9 percent 7 3 4 0 0
13.0 percent 2 2 0 0 0
13.1 percent or more 78 68 0 10 0
Not reported 0 0 0 0 0
Median 7.1 7.5 4.2 6.5 3.4

Type of Interest Rate Buydown

Properties with interest rate
buydown
36 21 0 15 0
Constant payment 0 0 0 0 0
3-2-1 buydown 0 0 0 0 0
Other 2 2 0 0 0
Not reported 34 19 0 15 0
Properties without interest
rate buydown
285 240 1 43 0
Not reported 387 275 31 71 10

Term of First Mortgage

Less than 5 years
0 0 0 0 0
5 years 0 0 0 0 0
6 to 9 years 0 0 0 0 0
10 years 2 2 0 0 0
11 to 14 years 0 0 0 0 0
15 years 26 25 0 1 0
16 to 19 years 0 0 0 0 0
20 years 3 3 0 0 0
21 to 24 years 0 0 0 0 0
25 years 3 1 0 1 0
26 to 29 years 0 0 0 0 0
30 years 407 323 9 74 1
More than 30 years 0 0 0 0 0
No stated term 266 181 23 53 9
Median 30 30 30 30 30

Unexpired Term of First Mortgage

Less than 5 years
11 11 0 0 0
5 to 9 years 18 18 0 0 0
10 to 14 years 13 12 0 1 0
15 to 19 years 18 11 0 6 0
20 to 24 years 73 57 0 16 0
25 to 29 years 194 155 5 34 0
30 or more years 115 91 4 19 1
No stated term or not computed 266 181 23 53 9
Median 27 27 29 27 30+

Holder of First Mortgage

Commercial bank or trust company
77 56 2 19 0
Savings and loan association, federal
savings bank
75 37 8 30 0
Mutual savings bank 10 10 0 0 0
Life insurance company 8 8 0 0 0
Mortgage banker or mortgage company 123 99 2 22 0
Federally-sponsored secondary market
agency or pool
318 257 14 41 6
Conventional mortgage pool 9 9 0 0 0
Other federal agency 19 13 2 1 4
Real estate investment trust 2 2 0 0 0
Pension or retirement fund 0 0 0 0 0
Credit union 17 14 0 4 0
Finance company 6 2 0 4 0
State or municipal government or
housing finance agency
12 12 0 0 0
Individual or individual's estate 14 14 0 0 0
Other 17 4 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
536 409 19 99 10
Less than 40 percent 14 12 0 2 0
40 to 49 percent 17 14 0 3 0
50 to 59 percent 11 6 0 5 0
60 to 69 percent 42 39 2 1 0
70 to 79 percent 71 53 4 13 0
80 to 89 percent 128 87 6 27 7
90 to 94 percent 62 52 1 9 0
95 to 99 percent 69 47 0 23 0
100 percent or more 119 96 6 16 1
Not reported 5 3 0 0 2
Median 88 89 85 89 85
Other properties 170 127 13 30 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
536 409 19 99 10
Less than 40 percent 12 10 0 2 0
40 to 49 percent 23 20 0 3 0
50 to 59 percent 9 6 0 3 0
60 to 69 percent 108 91 4 12 1
70 to 79 percent 71 47 4 20 0
80 to 89 percent 115 81 6 22 7
90 to 94 percent 39 33 1 5 0
95 to 99 percent 75 52 0 23 0
100 percent or more 79 66 4 8 0
Not reported 5 3 0 0 2
Median 83 83 82 84 84
Other properties 170 127 13 30 0
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
37 20 7 9 0
Not subprime loan 670 515 24 120 10
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
139 0 0 129 10
Treasury security 24 0 0 24 0
Average cost of funds in bank district 15 0 0 15 0
National average cost of funds 0 0 0 0 0
OTS contract mortgage rate 0 0 0 0 0
Other method 7 0 0 7 0
No index used 0 0 0 0 0
Not reported 94 0 0 84 10
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

Frequency With Which Rate Can Be
Adjusted

Properties with adjustable
rate first mortgage
139 0 0 129 10
Monthly 19 0 0 19 0
Every 3 months 0 0 0 0 0
Every 6 months 9 0 0 9 0
Yearly 33 0 0 33 0
Every 3 years 0 0 0 0 0
Every 5 years 0 0 0 0 0
Other 0 0 0 0 0
Not reported 79 0 0 68 10
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Per Adjustment
Period

Properties with adjustable
rate first mortgage
139 0 0 129 10
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 16 0 0 16 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 1 0 0 1 0
4.0 percent or more 17 0 0 17 0
No caps 27 0 0 27 0
Not reported 76 0 0 66 10
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

Caps on Interest Rate Over Life of ARM

Properties with adjustable
rate first mortgage
139 0 0 129 10
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 33 0 0 33 0
No caps 11 0 0 11 0
Not reported 95 0 0 85 10
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
139 0 0 129 10
Yes, rate has changed 34 0 0 34 0
No change since mortgage made 31 0 0 31 0
Not reported 74 0 0 64 10
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

Percentage of Margin Over Index on ARM

Properties with adjustable rate
first mortgage
139 0 0 129 10
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 23 0 0 23 0
2.1 to 2.9 percent 33 0 0 33 0
3 percent 2 0 0 2 0
3.1 to 3.9 percent 1 0 0 1 0
4 percent 0 0 0 0 0
4.1 to 4.9 percent 0 0 0 0 0
5 percent or more 4 0 0 4 0
Not reported 76 0 0 66 10
Median 2.3 0.0 0.0 2.3 0.0
Other properties 568 536 32 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
139 0 0 129 10
Can be converted 9 0 0 9 0
Cannot be converted 41 0 0 41 0
Not reported 89 0 0 79 10
Other properties 568 536 32 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
3 0 0 3 0
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 1 0 0 1 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
631 536 32 63 0
Not reported 73 0 0 63 10

First Mortgage Allows for Negative
Amortization

Monthly payments can change
(other than change in interest
rate)
3 0 0 3 0
Yes, unrestricted negative amortization 0 0 0 0 0
Yes, restricted negative amortization 0 0 0 0 0
No negative amortization allowed 3 0 0 3 0
Not reported 0 0 0 0 0
Monthly payments cannot change 631 536 32 63 0
Not reported 73 0 0 63 10

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
692 524 32 128 8
Interest and principal 692 524 32 128 8
Fully amortized 611 484 5 115 7
Not fully amortized 81 40 27 12 1
Interest only 0 0 0 0 0
No regular payments required 0 0 0 0 0
Not reported 15 12 0 2 2

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
692 524 32 128 8
Real estate taxes 231 198 4 28 0
Property insurance 43 36 4 4 0
Mortgage insurance 103 84 4 15 0
Other 83 80 0 3 0
No items included or not reported 445 313 28 96 8
No regular payments of interest
and principal
15 12 0 2 2

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
692 524 32 128 8
Less than $100 3 1 0 2 0
$100 to $199 7 5 2 0 0
$200 to $299 19 18 0 1 0
$300 to $399 42 33 3 4 2
$400 to $499 67 43 3 21 0
$500 to $599 73 61 3 8 0
$600 to $699 53 41 0 12 0
$700 to $799 65 46 7 11 0
$800 to $899 62 50 0 10 1
$900 to $999 50 46 2 2 0
$1,000 to $1,249 96 80 2 14 0
$1,250 to $1,499 63 44 2 18 0
$1,500 or more 91 55 8 23 4
Median 826 826 772 834 1500+
Mean 1142 1137 1122 1138 1669
No regular payments required 0 0 0 0 0
Not reported 15 12 0 2 2

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
707 536 32 129 10
Up-to-date, ahead of schedule, or
less than 90 days past due
380 306 5 69 0
Delinquent by 90 days or more 7 3 0 3 0
Legal proceedings have begun 3 2 0 1 0
Legal proceedings have not begun 4 2 0 2 0
Not reported 0 0 0 0 0
Not reported 320 226 27 57 10
Other properties 0 0 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
693 526 32 128 8
Less than $100 3 1 0 2 0
$100 to $199 9 7 2 0 0
$200 to $299 17 16 0 1 0
$300 to $399 40 33 3 2 2
$400 to $499 65 39 3 23 0
$500 to $599 75 63 3 8 0
$600 to $699 49 36 0 12 0
$700 to $799 66 47 7 11 0
$800 to $899 57 45 0 10 1
$900 to $999 56 52 2 2 0
$1,000 to $1,249 94 83 2 9 0
$1,250 to $1,499 68 44 2 22 0
$1,500 or more 96 60 8 23 4
Median 841 844 772 834 1500+
Mean 1154 1151 1122 1145 1669
No regular monthly payments
required
14 10 0 2 2

Interest and Principal Payments on
Total Mortgages as Percent of Income

Regular monthly payments of
interest and/or principal
693 526 32 128 8
Less than 5 percent 23 17 2 4 0
5 to 9 percent 74 63 0 10 1
10 to 14 percent 113 76 8 27 2
15 to 19 percent 145 112 7 25 0
20 to 24 percent 121 93 6 22 0
25 to 29 percent 60 43 3 10 4
30 to 34 percent 29 22 4 2 0
35 to 39 percent 11 9 0 1 0
40 to 49 percent 18 14 0 4 0
50 percent or more 53 36 0 17 0
Not reported or not computed 46 40 2 5 0
Median 18.9 18.8 18.4 19.0 25.4
No regular monthly payments
required
14 10 0 2 2

Rental and vacant condominium
properties with traditional first
mortgage
285 193 15 71 6

PROPERTY CHARACTERISTICS


Manner of Acquisition

By purchase
241 162 15 61 3
Placed one new mortgage 215 144 11 57 3
Placed two or more new mortgages 3 2 0 1 0
Assumed mortgage(s) already on property 13 6 4 2 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 9 9 0 0 0
Other manner 1 1 0 0 0
By inheritance or gift 1 0 0 1 0
By divorce 0 0 0 0 0
By tax free exchange of
other property
3 3 0 0 0
By foreclosure or assignment 8 8 0 0 0
By some other manner 8 8 0 0 0
Not reported 24 12 0 9 3

Source of Downpayment@1

Properties purchased
1995 to 2001 (part)
108 71 5 28 3
Sale of stock or other partnership
shares for this project
0 0 0 0 0
Sale of previously owned stocks,
shares, or other securities
4 3 0 1 0
Sale of land or other real estate 6 6 0 0 0
Owner's cash, bank deposits,
share accounts, or bonds
69 48 3 16 2
Borrowing from a retirement plan 1 1 0 0 0
Borrowing using assets other than this
property as collateral
3 2 0 2 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 10 5 0 5 0
Other cash source 0 0 0 0 0
Non-cash source 0 0 0 0 0
No downpayment required 10 5 0 3 1
Not reported 9 5 2 1 0
Other properties 165 115 10 37 3
Not reported 12 7 0 5 0

Year Property Acquired

1999 to 2001 (part)
83 55 3 22 2
1997 and 1998 31 20 2 8 1
1995 and 1996 12 9 0 3 0
1990 to 1994 54 40 2 9 3
1985 to 1989 55 38 8 9 0
1980 to 1984 31 21 0 9 0
1975 to 1979 10 1 0 9 0
1970 to 1974 4 3 0 1 0
1969 or earlier 5 5 0 0 0

Property New or Previously Owned When
Acquired

Acquired by purchase
241 162 15 61 3
New 41 33 2 6 0
Previously owned 198 127 13 55 3
As residential property 196 125 13 55 3
Converted from nonresidential use 2 2 0 0 0
Other 0 0 0 0 0
Not reported 2 2 0 0 0
Other properties 20 19 0 1 0
Not reported 24 12 0 9 3

Year Structure Built

1999 to March 2000
10 6 0 4 0
1997 and 1998 6 3 2 1 0
1995 and 1996 4 4 0 0 0
1990 to 1994 15 13 0 2 0
1980 to 1989 117 90 9 16 3
1970 to 1979 80 45 0 32 3
1960 to 1969 31 17 4 10 0
1950 to 1959 14 13 0 2 0
1940 to 1949 4 4 0 0 0
1939 or earlier 4 0 0 4 0

Purchase Price

Properties acquired by
purchase 1997 to 2001 (part)
99 65 5 25 3
Less than $20,000 0 0 0 0 0
$20,000 to $39,999 1 1 0 0 0
$40,000 to $59,999 8 7 0 2 0
$60,000 to $79,999 13 10 0 0 3
$80,000 to $99,999 13 13 0 0 0
$100,000 to $124,999 18 11 3 3 0
$125,000 to $149,999 15 9 0 7 0
$150,000 to $174,999 3 3 0 0 0
$175,000 to $199,999 4 4 0 0 0
$200,000 to $249,999 6 6 0 0 0
$250,000 to $299,999 4 2 0 3 0
$300,000 to $499,999 8 1 0 7 0
$500,000 or more 6 0 2 4 0
Median 119931 104712 121291 266936 70000
Mean 180756 119881 307907 323989 69370
Other properties 186 128 10 45 3

Value

Less than $20,000
0 0 0 0 0
$20,000 to $39,999 6 2 0 3 0
$40,000 to $59,999 24 18 2 4 0
$60,000 to $79,999 16 10 0 3 3
$80,000 to $99,999 56 48 0 6 3
$100,000 to $124,999 62 49 5 8 0
$125,000 to $149,999 25 17 2 6 0
$150,000 to $174,999 31 17 4 10 0
$175,000 to $199,999 13 9 0 4 0
$200,000 to $249,999 7 5 0 2 0
$250,000 to $299,999 12 7 0 6 0
$300,000 to $499,999 24 10 0 14 0
$500,000 or more 8 1 2 5 0
Median 116224 109675 135067 162135 79247
Mean 154309 129235 220390 215109 80286

Value of Capital Improvements

Properties with capital
improvements between 1998
and 2000
84 59 4 21 0
Less than $500 12 9 0 3 0
$500 to $999 10 9 0 1 0
$1,000 to $2,499 22 16 0 6 0
$2,500 to $4,999 24 15 4 5 0
$5,000 to $7,499 6 6 0 0 0
$7,500 to $9,999 5 0 0 5 0
$10,000 to $14,999 1 1 0 0 0
$15,000 to $19,999 1 1 0 0 0
$20,000 to $29,999 2 2 0 0 0
$30,000 or more 1 0 0 1 0
Median 2382 2146 3750 2542 500-
Mean 6004 3142 3161 14346 0
Properties with no capital
improvements between 1998 and 2000
123 80 9 31 3
Capital improvements not
reported
79 55 2 19 3

Monthly Rental Receipts Per Housing Unit

Acquired before 2000
229 163 12 50 4
Less than $100 4 4 0 0 0
$100 to $199 0 0 0 0 0
$200 to $299 3 3 0 0 0
$300 to $399 5 2 0 4 0
$400 to $499 18 14 0 4 0
$500 to $599 20 12 4 3 1
$600 to $799 23 19 0 4 0
$800 to $999 81 71 0 7 3
$1000 or more 66 29 8 28 0
No rental receipts 8 8 0 0 0
Median 889 865 1000+ 1000+ 860
Mean 1315 944 2174 2362 679
Acquired 2000 and 2001 (part) 56 31 3 20 2

Rental Receipts as Percent of Value@8

Acquired before 2000
229 163 12 50 4
Less than 5 percent 11 10 0 1 0
5 to 9 percent 87 62 2 22 1
10 to 14 percent 105 71 10 21 3
15 to 19 percent 1 0 0 1 0
20 to 24 percent 3 0 0 3 0
25 to 29 percent 0 0 0 0 0
30 to 39 percent 1 1 0 0 0
40 percent or more 7 5 0 1 0
Median 10 10 12 10 11
Acquired 2000 and 2001 (part) 56 31 3 20 2

Rental Vacancy Losses as Percent of
Potential Receipts

Acquired before 2000
229 163 12 50 4
Less than 1.0 percent 77 52 0 22 3
1.0 to 2.9 percent 5 2 0 3 0
3.0 to 4.9 percent 2 2 0 0 0
5.0 to 6.9 percent 0 0 0 0 0
7.0 to 8.9 percent 13 12 2 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 1 1 0 0 0
15.0 percent or more 33 21 2 9 0
Not reported or not computed 98 72 8 16 1
Median 0.9 0.9 20.4 0.8 0.5
Acquired 2000 and 2001 (part) 56 31 3 20 2

Age Restrictions

Condominium building restricted to
people age 55 or older
57 33 5 17 2
Condominium building not restricted to
people age 55 or older
216 151 10 51 4
Not reported 12 9 0 3 0

Meal Service Provided for
Age-Restricted Condominiums

Meal serviced provided
29 19 2 8 0
Charge included in rent 17 12 2 3 0
Charge not included in rent 0 0 0 0 0
Not reported 12 6 0 5 0
Meal service not provided 24 13 2 7 2
Not reported 233 162 12 55 4

Type of Property Benefits@1

Government-sponsored below-market
interest rate mortgage loan
1 1 0 0 0
Government rental subsidy 13 9 0 3 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 211 138 11 58 5
Not reported 60 45 4 10 1

Source of Property Benefits@1

With property benefits
14 11 0 3 0
Federal government 8 6 0 2 0
State government 1 0 0 1 0
Local government 0 0 0 0 0
Non-profit corporation 0 0 0 0 0
Not reported 4 4 0 0 0
With no property benefits 211 138 11 58 5
Not reported 60 45 4 10 1

Reason for Benefits@1

With property benefits
14 11 0 3 0
Occupied by low- or moderate-income
individuals
8 6 0 1 0
Occupied by elderly or disabled
individuals
3 0 0 3 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 4 4 0 0 0
With no property benefits 211 138 11 58 5
Not reported 60 45 4 10 1

OWNER CHARACTERISTICS


Type of Owner

Individual investor(s)
245 173 11 56 6
Limited partnership 4 3 0 1 0
Joint venture 6 0 4 2 0
General partnership 1 1 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
8 5 0 3 0
Housing cooperative organization 0 0 0 0 0
Non-profit or church-related institution 6 6 0 0 0
Pension fund 0 0 0 0 0
Fraternal organization 0 0 0 0 0
Other 7 5 0 2 0

MORTGAGE CHARACTERISTICS


Origin of First Mortgage

Mortgage made at time property acquired
231 155 9 63 3
Mortgage assumed at the time property
acquired
14 5 4 2 3
Mortgage placed later than acquisition of
property
41 33 2 6 0
Refinanced mortgage 39 31 2 6 0
Same lender 4 4 0 0 0
Different lender 34 27 2 6 0
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
41 33 2 6 0
Obtain lower interest rate 31 23 2 6 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
2 2 0 0 0
Receive cash or increase outstanding
balance of loan
6 6 0 0 0
Other reason 2 2 0 0 0
Not reported 0 0 0 0 0
Other properties 245 160 13 65 6
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
6 6 0 0 0
Less than $20,000 0 0 0 0 0
$20,000 to $39,999 0 0 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 54830 54830 20000- 20000- 20000-
Mean 65227 65227 0 0 0
Properties that refinanced
and did not receive cash back
31 24 2 6 0
Properties that refinanced
and did not report if received
cash back
4 4 0 0 0
Properties that did not
refinance
245 160 13 65 6
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
6 6 0 0 0
For additions, improvements or repairs
to this property
0 0 0 0 0
To consolidate debts 6 6 0 0 0
For investment in other real estate 4 4 0 0 0
For other types of investments 4 4 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
31 24 2 6 0
Properties that refinanced
and did not report if received
cash back
4 4 0 0 0
Properties that did not
refinance
245 160 13 65 6
Not available 0 0 0 0 0

Year First Mortgage Made or
Assumed

1999 to 2001 (part)
112 81 3 26 2
1997 and 1998 27 14 4 8 1
1995 and 1996 19 16 0 3 0
1990 to 1994 71 53 0 15 3
1985 to 1989 27 12 8 7 0
1980 to 1984 22 15 0 7 0
1979 or earlier 8 3 0 5 0

First Mortgage Insurance Status

FHA-insured first mortgage
44 34 0 10 0
VA-guaranteed first mortgage 6 4 0 2 0
Rural Housing Service-Rural Development-
insured or -guaranteed first mortgage
3 3 0 0 0
Other federal, state, or local
government-insured or guaranteed
first mortgage
0 0 0 0 0
Insured conventional first mortgage 23 14 0 9 0
Uninsured conventional first mortgage 210 140 15 49 6
Not reported 0 0 0 0 0

Traditional First Mortgage Loan

Less than $20,000
3 0 2 1 0
$20,000 to $29,999 13 12 0 1 0
$30,000 to $39,999 23 16 0 7 0
$40,000 to $49,999 28 25 2 1 0
$50,000 to $59,999 19 15 0 3 0
$60,000 to $79,999 61 45 0 10 6
$80,000 to $99,999 44 32 2 10 0
$100,000 to $149,999 53 37 3 13 0
$150,000 to $199,999 6 3 0 3 0
$200,000 to $249,999 14 4 0 10 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 10 1 2 6 0
Not reported 12 3 4 4 0
Median 76564 72239 99711 96525 70000
Mean 94656 78778 132860 136530 66473

Total Mortgage Loan

Less than $20,000
3 0 2 1 0
$20,000 to $29,999 13 12 0 1 0
$30,000 to $39,999 23 16 0 7 0
$40,000 to $49,999 27 24 2 1 0
$50,000 to $59,999 19 15 0 3 0
$60,000 to $79,999 48 33 0 9 6
$80,000 to $99,999 47 35 2 10 0
$100,000 to $149,999 64 47 3 14 0
$150,000 to $199,999 6 3 0 3 0
$200,000 to $249,999 12 3 0 10 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 11 2 2 6 0
Not reported 12 3 4 4 0
Median 81721 77432 99711 99294 70000
Mean 97993 83052 132860 138032 66473

Traditional First Mortgage Outstanding
Debt

Less than $10,000
10 10 0 0 0
$10,000 to $19,999 13 3 2 8 0
$20,000 to $29,999 13 13 0 0 0
$30,000 to $39,999 17 14 2 2 0
$40,000 to $49,999 36 31 0 5 0
$50,000 to $59,999 27 22 0 2 3
$60,000 to $79,999 57 36 2 16 3
$80,000 to $99,999 34 28 0 6 0
$100,000 to $149,999 40 28 3 9 0
$150,000 to $199,999 7 4 0 3 0
$200,000 to $249,999 10 0 0 10 0
$250,000 to $299,999 0 0 0 0 0
$300,000 or more 10 1 2 6 0
Not reported 12 3 4 4 0
Median 67275 61356 79711 81971 60752
Mean 86019 69954 121818 128463 61751

Current Interest Rate on First Mortgage

Less than 6.0 percent
99 46 15 31 6
6.0 percent 2 0 0 2 0
6.1 to 6.4 percent 9 1 0 8 0
6.5 to 6.9 percent 9 2 0 7 0
7.0 percent 13 13 0 0 0
7.1 to 7.4 percent 32 23 0 9 0
7.5 to 7.9 percent 40 35 0 6 0
8.0 percent 13 12 0 2 0
8.1 to 8.4 percent 4 4 0 0 0
8.5 to 8.9 percent 4 4 0 0 0
9.0 percent 3 3 0 0 0
9.1 to 9.4 percent 1 0 0 1 0
9.5 to 9.9 percent 0 0 0 0 0
10.0 percent 1 1 0 0 0
10.1 to 10.4 percent 1 1 0 0 0
10.5 to 10.9 percent 0 0 0 0 0
11.0 percent 2 2 0 0 0
11.1 to 12.9 percent 7 7 0 0 0
13.0 percent 0 0 0 0 0
13.1 percent or more 46 41 0 5 0
Not reported 0 0 0 0 0
Median 7.2 7.7 3.0 6.2 3.0

Type of Interest Rate Buydown

Properties with interest rate
buydown
5 5 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 5 5 0 0 0
Properties without interest
rate buydown
110 78 3 28 0
Not reported 171 110 12 43 6

Term of First Mortgage

Less than 5 years
0 0 0 0 0
5 years 2 2 0 0 0
6 to 9 years 1 1 0 0 0
10 years 6 3 0 4 0
11 to 14 years 0 0 0 0 0
15 years 16 16 0 0 0
16 to 19 years 0 0 0 0 0
20 years 0 0 0 0 0
21 to 24 years 0 0 0 0 0
25 years 0 0 0 0 0
26 to 29 years 0 0 0 0 0
30 years 124 86 0 38 0
More than 30 years 0 0 0 0 0
No stated term 136 85 15 29 6
Median 30 30 5- 30 5-

Unexpired Term of First Mortgage

Less than 5 years
7 7 0 0 0
5 to 9 years 23 15 0 7 0
10 to 14 years 11 3 0 8 0
15 to 19 years 18 16 0 2 0
20 to 24 years 31 21 0 9 0
25 to 29 years 37 32 0 5 0
30 or more years 24 14 0 10 0
No stated term or not computed 136 85 15 29 6
Median 22 23 5- 21 5-

Holder of First Mortgage

Commercial bank or trust company
52 39 5 5 3
Savings and loan association, federal
savings bank
37 11 4 21 1
Mutual savings bank 6 3 3 0 0
Life insurance company 0 0 0 0 0
Mortgage banker or mortgage company 44 34 0 9 0
Federally-sponsored secondary market
agency or pool
118 85 2 29 2
Conventional mortgage pool 2 2 0 0 0
Other federal agency 6 4 0 3 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
8 6 0 2 0
Individual or individual's estate 8 8 0 0 0
Other 5 3 0 2 0

First Mortgage Loan as a Percent of
Purchase Price

Properties acquired by
purchase with first mortgage
made or assumed at time of
purchase
210 138 13 55 3
Less than 40 percent 10 6 2 3 0
40 to 49 percent 6 6 0 0 0
50 to 59 percent 8 4 0 3 0
60 to 69 percent 20 15 2 3 0
70 to 79 percent 31 27 0 4 0
80 to 89 percent 43 21 0 22 0
90 to 94 percent 14 5 0 7 2
95 to 99 percent 24 21 3 0 0
100 percent or more 43 32 2 8 1
Not reported 11 2 4 4 0
Median 85 84 95 85 93
Other properties 76 55 2 16 3
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
210 138 13 55 3
Less than 40 percent 10 7 2 1 0
40 to 49 percent 6 6 0 0 0
50 to 59 percent 8 3 0 4 0
60 to 69 percent 40 30 2 8 0
70 to 79 percent 27 24 0 3 0
80 to 89 percent 42 16 3 24 0
90 to 94 percent 9 3 0 5 2
95 to 99 percent 16 15 0 2 0
100 percent or more 41 33 2 4 1
Not reported 10 1 4 4 0
Median 82 79 81 83 93
Other properties 76 55 2 16 3
Not available 0 0 0 0 0

First Mortgage Risk

Subprime loan
7 7 0 0 0
Not subprime loan 278 186 15 71 6
Not reported 0 0 0 0 0

Index Used to Adjust Interest Rate
on ARM

Properties with adjustable
rate first mortgage
77 0 0 71 6
Treasury security 14 0 0 14 0
Average cost of funds in bank district 18 0 0 18 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 2 0 0 2 0
Not reported 41 0 0 35 6
Other properties 209 193 15 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 71 6
Monthly 15 0 0 15 0
Every 3 months 0 0 0 0 0
Every 6 months 6 0 0 6 0
Yearly 13 0 0 13 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 41 0 0 35 6
Other properties 209 193 15 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 71 6
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 6 0 0 6 0
2.1 to 2.9 percent 6 0 0 6 0
3 percent 0 0 0 0 0
3.1 to 3.9 percent 2 0 0 2 0
4.0 percent or more 2 0 0 2 0
No caps 19 0 0 19 0
Not reported 41 0 0 35 6
Other properties 209 193 15 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 71 6
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 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 22 0 0 22 0
No caps 8 0 0 8 0
Not reported 44 0 0 38 6
Other properties 209 193 15 0 0
Not reported 0 0 0 0 0

Interest Rate Changed Since
Mortgage Made

Properties with adjustable
rate first mortgage
77 0 0 71 6
Yes, rate has changed 33 0 0 33 0
No change since mortgage made 3 0 0 3 0
Not reported 41 0 0 35 6
Other properties 209 193 15 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 71 6
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 5 0 0 5 0
2.1 to 2.9 percent 14 0 0 14 0
3 percent 3 0 0 3 0
3.1 to 3.9 percent 12 0 0 12 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 41 0 0 35 6
Median 2.8 0.0 0.0 2.8 0.0
Other properties 209 193 15 0 0
Not reported 0 0 0 0 0

ARM Convertible to Fixed Rate Mortgage

Properties with adjustable rate
first mortgage
77 0 0 71 6
Can be converted 5 0 0 5 0
Cannot be converted 23 0 0 23 0
Not reported 49 0 0 43 6
Other properties 209 193 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
245 193 15 36 0
Not reported 41 0 0 35 6

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 245 193 15 36 0
Not reported 41 0 0 35 6

MORTGAGE PAYMENTS AND OTHER EXPENSES


Method of Payment of First Mortgage

Regular payments of interest
and/or principal
274 188 9 71 6
Interest and principal 270 188 5 71 6
Fully amortized 256 183 0 67 6
Not fully amortized 15 6 5 4 0
Interest only 3 0 3 0 0
No regular payments required 2 2 0 0 0
Not reported 10 3 7 0 0

Items Included in First Mortgage
Payment@1

Regular monthly payments of
both interest and principal
270 188 5 71 6
Real estate taxes 79 56 0 23 0
Property insurance 39 26 0 13 0
Mortgage insurance 21 20 0 2 0
Other 15 13 0 2 0
No items included or not reported 191 132 5 48 6
No regular payments of interest
and principal
15 5 10 0 0

Monthly Interest and Principal Payments
on First Mortgage

Monthly payments of interest
and/or principal
274 188 9 71 6
Less than $100 0 0 0 0 0
$100 to $199 5 3 0 2 0
$200 to $299 25 18 0 7 0
$300 to $399 34 26 0 8 0
$400 to $499 26 17 2 6 1
$500 to $599 42 32 2 6 2
$600 to $699 33 19 3 7 3
$700 to $799 31 27 0 4 0
$800 to $899 25 20 2 3 0
$900 to $999 12 3 0 9 0
$1,000 to $1,249 12 10 0 2 0
$1,250 to $1,499 12 5 0 7 0
$1,500 or more 16 7 0 9 0
Median 613 591 618 691 594
Mean 750 689 635 939 583
No regular payments required 2 2 0 0 0
Not reported 10 3 7 0 0

Current First Mortgage Payment Status

Regular monthly payments of
principal and/or interest
284 192 15 71 6
Up-to-date, ahead of schedule, or
less than 90 days past due
132 93 3 36 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 152 99 12 35 6
Other properties 2 2 0 0 0

Monthly Interest and Principal Payments
on Total Mortgages

Regular monthly payments of
interest and/or principal
274 188 9 71 6
Less than $100 0 0 0 0 0
$100 to $199 5 3 0 2 0
$200 to $299 25 18 0 7 0
$300 to $399 33 25 0 8 0
$400 to $499 21 12 2 6 1
$500 to $599 42 32 2 6 2
$600 to $699 33 19 3 7 3
$700 to $799 27 23 0 4 0
$800 to $899 29 24 2 3 0
$900 to $999 14 5 0 9 0
$1,000 to $1,249 12 10 0 2 0
$1,250 to $1,499 17 10 0 7 0
$1,500 or more 16 7 0 9 0
Median 633 618 618 691 594
Mean 1182 1315 635 946 583
No regular monthly payments
required
12 5 7 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
217 157 5 50 4
Less than 20 percent 14 7 0 7 0
20 to 29 percent 5 3 0 3 0
30 to 39 percent 11 6 0 5 0
40 to 49 percent 27 26 0 1 0
50 to 59 percent 22 18 0 3 0
60 to 69 percent 19 17 0 2 0
70 to 79 percent 31 13 2 16 0
80 to 89 percent 30 21 2 3 4
90 to 99 percent 16 12 0 4 0
100 percent or more 29 22 2 5 0
Not reported or not computed 13 13 0 0 0
Median 71.2 67.3 85.7 72.2 85.0
Other properties 68 36 10 20 2

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

Acquired before 2000 and regular
payments of interest and/or
principal
217 157 5 50 4
Less than 20 percent 14 7 0 7 0
20 to 29 percent 5 3 0 3 0
30 to 39 percent 11 6 0 5 0
40 to 49 percent 21 20 0 1 0
50 to 59 percent 22 18 0 3 0
60 to 69 percent 14 12 0 2 0
70 to 79 percent 31 13 2 16 0
80 to 89 percent 36 27 2 3 4
90 to 99 percent 14 10 0 4 0
100 percent or more 37 29 2 5 0
Not reported or not computed 13 13 0 0 0
Median 74.9 75.3 85.7 72.2 85.0
Other properties 68 36 10 20 2

Real Estate Tax Per $1,000 Value

Acquired before 2000
229 163 12 50 4
Less than $5 21 17 0 5 0
$5 to $9 129 90 4 31 4
$10 to $14 47 36 4 8 0
$15 to $19 14 12 0 2 0
$20 to $24 5 5 0 0 0
$25 to $29 2 0 0 2 0
$30 to $39 1 1 0 0 0
$40 to $49 0 0 0 0 0
$50 to $59 2 0 0 2 0
$60 or more 1 0 0 1 0
Not reported or not computed 6 1 4 0 0
Median 8 8 9 8 7
Acquired 2000 and 2001 (part) 56 31 3 20 2

Real Estate Tax as Percent of Rental
Receipts

Acquired before 2000
229 163 12 50 4
Less than 5 percent 19 13 0 7 0
5 to 9 percent 84 55 4 22 3
10 to 14 percent 70 55 2 11 1
15 to 19 percent 13 8 2 4 0
20 to 24 percent 7 5 0 2 0
25 to 29 percent 4 3 0 1 0
30 to 34 percent 8 6 0 2 0
35 to 39 percent 3 3 0 0 0
40 percent or more 2 0 0 2 0
Not reported or not computed 18 14 4 0 0
Median 10 10 9 9 8
Acquired 2000 and 2001 (part) 56 31 3 20 2

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