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Residential Finance Survey - Detailed Regional Tables: 2001

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Residential Finance Survey: 2001 - Northeast
Table 3-2b. Type of First Mortgage, 2- to 4-Unit Homeowner Mortgaged Properties
^Number of mortgaged properties in thousands.
For information on confidentiality protection, sampling error, non-sampling error, and definitions, see text.
For minimum base of derived figures (percent, median, etc.) and meaning of symbols, see text^^

		Fixed rate mortgage
	Total mortgaged properties	Amortized	Short term with balloon payment	Adjustable rate mortgage (ARM)	Other mortgage
2- to 4-housing-unit properties with traditional first mortgage	234	178	5	44	7
PROPERTY CHARACTERISTICS Manner of Acquisition By purchase	229	173	5	44	7
Placed one new mortgage	214	160	3	44	7
Placed two or more new mortgages	11	10	2	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	3	3	0	0	0
Other manner	0	0	0	0	0
By inheritance or gift	0	0	0	0	0
By divorce	3	3	0	0	0
By some other manner	0	0	0	0	0
Not reported	2	2	0	0	0
Source of Downpayment@1 Properties purchased 1995 to 2001 (part)	122	94	5	15	7
Sale of previous home	7	7	0	0	0
Sale of other real property or other investments	3	1	0	2	0
Savings	90	75	2	6	7
Borrowing from a retirement plan	17	12	0	5	0
Borrowing using assets other than this property as collateral	7	7	0	0	0
Proceeds from an insurance policy	1	1	0	0	0
Payments in a lease-purchase agreement	0	0	0	0	0
From a state or local government source	4	4	0	0	0
From a non-profit organization	0	0	0	0	0
From parents or relatives	19	14	3	0	2
Other	0	0	0	0	0
No downpayment required	7	4	0	3	0
Not reported	1	0	0	1	0
Other properties	111	82	0	29	0
Not reported	2	2	0	0	0
Year Property Acquired 1999 to 2001 (part)	46	38	3	3	2
1997 and 1998	38	36	0	2	0
1995 and 1996	42	25	2	10	6
1990 to 1994	48	34	0	15	0
1985 to 1989	23	17	0	6	0
1980 to 1984	15	9	0	6	0
1975 to 1979	4	4	0	0	0
1970 to 1974	11	9	0	3	0
1969 or earlier	7	7	0	0	0
Property New or Previously Occupied When Acquired Acquired by purchase	229	173	5	44	7
New	14	12	0	2	0
Previously occupied by someone else	210	160	5	37	7
Converted from non-residential use	0	0	0	0	0
Other	2	1	0	2	0
Not reported	3	1	0	3	0
Other properties	3	3	0	0	0
Not reported	2	2	0	0	0
Year Structure Built 1999 to March 2000	5	5	0	0	0
1997 and 1998	2	2	0	0	0
1995 and 1996	1	0	0	1	0
1990 to 1994	8	3	0	5	0
1980 to 1989	4	4	0	0	0
1970 to 1979	10	8	0	0	2
1960 to 1969	15	12	0	0	2
1950 to 1959	16	12	0	4	0
1940 to 1949	20	15	0	5	0
1939 or earlier	154	116	5	29	3
Purchase Price Per Housing Unit@8 Properties acquired by purchase 1997 to 2001 (part)	80	69	3	6	2
Less than $20,000	9	3	0	6	0
$20,000 to $39,999	24	21	3	0	0
$40,000 to $59,999	21	21	0	0	0
$60,000 to $79,999	10	10	0	0	0
$80,000 to $99,999	1	1	0	0	0
$100,000 to $124,999	4	4	0	0	0
$125,000 to $149,999	1	1	0	0	0
$150,000 to $174,999	1	1	0	0	0
$175,000 to $199,999	8	6	0	0	2
$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	46038	49259	30000	20000-	187500
Mean	61722	63536	28248	17570	184500
Other properties	154	108	2	38	6
Value Less than $20,000	0	0	0	0	0
$20,000 to $39,999	11	8	0	3	0
$40,000 to $59,999	17	17	0	0	0
$60,000 to $79,999	19	12	2	2	3
$80,000 to $99,999	22	14	1	7	0
$100,000 to $124,999	36	25	0	11	0
$125,000 to $149,999	9	9	0	0	0
$150,000 to $174,999	26	18	0	8	0
$175,000 to $199,999	16	13	0	3	0
$200,000 to $249,999	21	19	0	0	2
$250,000 to $299,999	12	11	0	1	0
$300,000 to $499,999	40	31	2	6	2
$500,000 or more	4	1	0	2	0
Median	152342	154571	90787	122847	211043
Mean	224720	180689	197608	411029	193273
Value Per Housing Unit@8 Less than $20,000	13	9	0	4	0
$20,000 to $39,999	48	37	3	5	3
$40,000 to $59,999	45	35	0	10	0
$60,000 to $79,999	34	21	0	13	0
$80,000 to $99,999	21	18	0	3	0
$100,000 to $124,999	23	20	0	1	2
$125,000 to $149,999	10	9	0	1	0
$150,000 to $174,999	9	8	0	1	0
$175,000 to $199,999	3	1	0	0	2
$200,000 to $249,999	26	21	2	3	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	2	0	0	2	0
Median	66577	67615	37388	65096	105521
Mean	106774	84227	93425	201105	96636
Value of Capital Improvements Properties with capital improvements between 1998 and 2000	152	118	3	24	7
Less than $500	0	0	0	0	0
$500 to $999	0	0	0	0	0
$1,000 to $2,499	12	10	1	1	0
$2,500 to $4,999	31	20	0	7	5
$5,000 to $7,499	17	13	0	4	0
$7,500 to $9,999	17	13	0	3	0
$10,000 to $14,999	19	12	0	4	2
$15,000 to $19,999	16	13	0	2	0
$20,000 to $29,999	17	17	0	0	0
$30,000 or more	24	20	2	3	0
Median	9886	11292	30000+	7926	4338
Mean	16340	18153	19858	9889	6949
Properties with no capital improvements between 1998 and 2000	60	43	2	15	0
Capital improvements not reported	21	17	0	5	0
Value of Capital Improvements Per Unit Properties with capital improvements between 1998 and 2000	152	118	3	24	7
Less than $500	0	0	0	0	0
$500 to $999	11	9	1	1	0
$1,000 to $2,499	36	24	0	7	5
$2,500 to $4,999	33	24	0	9	0
$5,000 to $7,499	19	12	0	5	2
$7,500 to $9,999	15	15	0	0	0
$10,000 to $14,999	22	20	0	2	0
$15,000 to $19,999	5	2	2	1	0
$20,000 to $29,999	4	4	0	0	0
$30,000 or more	8	8	0	0	0
Median	4731	5392	15991	3737	2102
Mean	7493	8365	9688	4169	3475
Properties with no capital improvements between 1998 and 2000	60	43	2	15	0
Capital improvements not reported	21	17	0	5	0
Age Restrictions Property located in subdivision restricted to people age 55 or older	0	0	0	0	0
Property located in subdivision not restricted to people age 55 or older	223	170	5	40	7
Not reported	11	7	0	4	0
Neighborhood Composition Property located in subdivision or neighborhood occupied predominantly by people age 55 or older	32	28	0	3	0
Property located in subdivision or neighborhood not occupied predominantly by people age 55 or older	147	101	2	36	7
Don't know or not reported	56	48	3	5	0
Type of Property Benefits@1 Government-sponsored below-market interest rate mortgage loan	15	6	0	6	3
Other government grant or subsidy	2	0	0	2	0
Property tax relief	24	21	0	3	0
Subsidy from a non-profit corporation	1	1	0	0	0
None of the above benefits	148	119	2	22	4
Not reported	44	31	3	10	0
Source of Property Benefits@1 With property benefits	42	27	0	12	3
Federal government	8	3	0	5	0
State government	20	14	0	6	0
Local government	13	9	0	4	0
Non-profit corporation	1	1	0	0	0
Not reported	6	2	0	0	3
With no property benefits	148	119	2	22	4
Not reported	44	31	3	10	0
Reason for Benefits@1 With property benefits	42	27	0	12	3
Occupied by low- or moderate-income individuals	12	4	0	5	3
Occupied by elderly or disabled individuals	9	9	0	1	0
A historic structure	3	0	0	3	0
Located in a community development or economic development area	5	3	0	2	0
Covered by a Homestead Exemption	3	3	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	19	13	0	6	0
Not reported	0	0	0	0	0
With no property benefits	148	119	2	22	4
Not reported	44	31	3	10	0
OWNER CHARACTERISTICS Owner Status 1 owner	113	95	2	13	3
2 owners	116	80	3	28	4
3 or more owners	5	2	0	3	0
Age of Owner Under 25	3	3	0	0	0
25 to 34	52	38	3	6	4
35 to 44	37	25	0	8	3
45 to 54	61	55	2	5	0
55 to 64	31	23	0	7	0
65 to 74	22	16	0	6	0
75 and over	9	8	0	1	0
Not reported	19	8	0	11	0
Median	47	48	32	49	33
Race of Owner White alone	205	157	3	38	7
Black or African American alone	24	18	0	6	0
American Indian or Alaska Native alone	0	0	0	0	0
Asian alone	3	1	2	0	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	164	120	3	37	4
Female	70	58	2	7	3
Hispanic/Latino Origin Hispanic/Latino owner(s) only	29	23	0	6	0
No Hispanic/Latino owner(s)	205	155	5	38	7
Veteran Status@1 Veteran	34	29	0	6	0
Active member of Reserves or National Guard for at least 6 years	3	3	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)	20	20	0	0	0
Korean conflict or after (July 1950 to July 1964)	12	6	0	6	0
World War II or after (September 1940 to June 1950)	4	4	0	0	0
Nonveteran	178	138	5	28	7
Not reported	21	11	0	10	0
Income Less than $5,000	16	10	2	4	0
$5,000 to $9,999	0	0	0	0	0
$10,000 to $14,999	13	9	0	1	3
$15,000 to $19,999	10	5	2	3	0
$20,000 to $24,999	12	11	1	0	0
$25,000 to $29,999	15	12	0	3	0
$30,000 to $34,999	10	7	0	3	0
$35,000 to $39,999	11	9	0	2	0
$40,000 to $49,999	24	21	0	3	0
$50,000 to $59,999	19	8	0	10	0
$60,000 to $79,999	55	47	0	6	2
$80,000 to $99,999	22	19	0	3	0
$100,000 to $119,999	9	7	0	0	2
$120,000 or more	19	13	0	6	0
Median	53589	56188	16618	53435	65638
Mean	69545	57787	12665	125359	59262
Owned Home Previously Previously owned home	77	65	4	8	0
Never owned home before	143	103	0	32	7
Not reported	15	10	1	4	0
MORTGAGE CHARACTERISTICS Method of Loan Application By computer over the Internet or by e-mail	0	0	0	0	0
By telephone or FAX	32	28	0	2	2
By regular mail	6	6	0	0	0
By personal visit	129	86	4	37	2
Through third party (such as real estate agent or builder)	46	37	1	5	3
Some other way	0	0	0	0	0
Not reported	21	21	0	0	0
Not available	0	0	0	0	0
Origin of First Mortgage Mortgage made at time property acquired	177	130	3	37	7
Mortgage assumed at the time property acquired	0	0	0	0	0
Mortgage placed later than acquisition of property	57	48	2	7	0
Refinanced mortgage	52	43	2	7	0
Same lender	10	10	0	0	0
Different lender	42	33	2	7	0
Mortgage placed on property owned free and clear of debt	5	5	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	57	48	2	7	0
Obtain lower interest rate	28	22	2	4	0
Increase payment period for mortgage	0	0	0	0	0
Reduce payment period for mortgage	5	5	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	23	20	0	3	0
Other reason	0	0	0	0	0
Not reported	0	0	0	0	0
Other properties	177	130	3	37	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	31	24	0	7	0
Less than $20,000	9	6	0	3	0
$20,000 to $39,999	11	9	0	3	0
$40,000 to $59,999	6	6	0	0	0
$60,000 to $79,999	4	3	0	2	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	1	1	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	31838	33942	20000-	25394	20000-
Mean	35787	37891	0	28565	0
Properties that refinanced and did not receive cash back	24	23	2	0	0
Properties that refinanced and did not report if received cash back	1	1	0	0	0
Properties that did not refinance	177	130	3	37	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	31	24	0	7	0
For additions, improvements or repairs to this property	20	15	0	4	0
To consolidate debts	22	16	0	6	0
For investment in other real estate	0	0	0	0	0
For other types of investments	0	0	0	0	0
For educational or medical expenses	1	1	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	3	3	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	24	23	2	0	0
Properties that refinanced and did not report if received cash back	1	1	0	0	0
Properties that did not refinance	177	130	3	37	7
Not available	0	0	0	0	0
Year First Mortgage Made or Assumed 1999 to 2001 (part)	77	69	3	3	2
1997 and 1998	34	32	0	2	0
1995 and 1996	46	26	2	13	6
1990 to 1994	56	37	0	19	0
1985 to 1989	5	2	0	3	0
1980 to 1984	8	4	0	4	0
1979 or earlier	8	8	0	0	0
First Mortgage Insurance Status FHA-insured first mortgage	30	16	0	11	3
VA-guaranteed first mortgage	4	4	0	0	0
Rural Housing Service-Rural Development- insured or -guaranteed first mortgage	1	0	0	1	0
Other federal, state, or local government-insured or guaranteed first mortgage	6	3	0	0	2
Insured conventional first mortgage	27	21	1	6	0
Uninsured conventional first mortgage	166	134	4	27	2
Not reported	0	0	0	0	0
Traditional First Mortgage Loan Less than $20,000	11	9	0	3	0
$20,000 to $29,999	13	6	0	6	0
$30,000 to $39,999	8	8	0	0	0
$40,000 to $49,999	19	18	0	1	0
$50,000 to $59,999	21	16	2	2	0
$60,000 to $79,999	24	11	1	8	3
$80,000 to $99,999	26	22	0	5	0
$100,000 to $149,999	52	42	0	10	0
$150,000 to $199,999	24	19	2	1	2
$200,000 to $249,999	12	10	0	1	0
$250,000 to $299,999	3	3	0	0	0
$300,000 or more	12	8	0	2	2
Not reported	9	6	0	3	0
Median	92621	96068	70787	77745	161043
Mean	118273	107644	98865	156382	169084
Total Mortgage Loan Less than $20,000	11	9	0	3	0
$20,000 to $29,999	8	4	0	4	0
$30,000 to $39,999	8	8	0	0	0
$40,000 to $49,999	20	18	0	1	0
$50,000 to $59,999	21	14	2	5	0
$60,000 to $79,999	22	13	1	6	3
$80,000 to $99,999	27	21	0	7	0
$100,000 to $149,999	48	38	0	10	0
$150,000 to $199,999	30	26	0	2	2
$200,000 to $249,999	11	8	2	1	0
$250,000 to $299,999	5	5	0	0	0
$300,000 or more	12	8	0	2	2
Not reported	9	6	0	3	0
Median	96106	99421	70787	85477	161043
Mean	123211	112039	131862	161007	169084
Traditional First Mortgage Outstanding Debt Less than $10,000	10	6	0	3	0
$10,000 to $19,999	7	7	0	0	0
$20,000 to $29,999	11	5	0	6	0
$30,000 to $39,999	12	10	0	1	0
$40,000 to $49,999	25	25	0	0	0
$50,000 to $59,999	28	12	2	11	3
$60,000 to $79,999	12	7	1	4	0
$80,000 to $99,999	31	25	0	5	0
$100,000 to $149,999	51	41	2	5	2
$150,000 to $199,999	20	17	0	2	0
$200,000 to $249,999	5	5	0	0	0
$250,000 to $299,999	2	2	0	0	0
$300,000 or more	12	8	0	2	2
Not reported	9	6	0	3	0
Median	85037	89877	70787	59101	111043
Mean	105305	99331	94419	121613	161723
Total Mortgage Outstanding Debt Less than $10,000	10	6	0	3	0
$10,000 to $19,999	7	7	0	0	0
$20,000 to $29,999	10	4	0	6	0
$30,000 to $39,999	12	10	0	1	0
$40,000 to $49,999	26	23	0	3	0
$50,000 to $59,999	27	11	2	11	3
$60,000 to $79,999	15	10	1	4	0
$80,000 to $99,999	26	24	0	2	0
$100,000 to $149,999	54	43	0	9	2
$150,000 to $199,999	19	16	0	3	0
$200,000 to $249,999	10	8	2	0	0
$250,000 to $299,999	2	2	0	0	0
$300,000 or more	12	8	0	2	2
Not reported	6	6	0	0	0
Median	86413	92125	70787	57510	111043
Mean	105853	100077	127416	117231	161723
Current Interest Rate on First Mortgage Less than 6.0 percent	84	51	3	26	4
6.0 percent	1	1	0	0	0
6.1 to 6.4 percent	5	5	0	0	0
6.5 to 6.9 percent	28	21	0	3	3
7.0 percent	23	18	0	5	0
7.1 to 7.4 percent	16	13	0	3	0
7.5 to 7.9 percent	24	20	2	2	0
8.0 percent	12	12	0	0	0
8.1 to 8.4 percent	0	0	0	0	0
8.5 to 8.9 percent	13	13	0	0	0
9.0 percent	2	2	0	1	0
9.1 to 9.4 percent	2	2	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	3	0	0	3	0
13.0 percent	3	3	0	0	0
13.1 percent or more	15	14	0	1	0
Not reported	0	0	0	0	0
Median	7.0	7.1	4.7	5.2	5.3
Type of Interest Rate Buydown Properties with interest rate buydown	4	4	0	0	0
Constant payment	0	0	0	0	0
3-2-1 buydown	2	2	0	0	0
Other	0	0	0	0	0
Not reported	2	2	0	0	0
Properties without interest rate buydown	110	86	2	19	3
Not reported	121	88	3	25	4
Term of First Mortgage Less than 5 years	0	0	0	0	0
5 years	3	3	0	0	0
6 to 9 years	0	0	0	0	0
10 years	6	6	0	0	0
11 to 14 years	0	0	0	0	0
15 years	16	16	0	0	0
16 to 19 years	1	1	0	0	0
20 years	10	4	0	6	0
21 to 24 years	0	0	0	0	0
25 years	2	2	0	0	0
26 to 29 years	3	1	2	0	0
30 years	86	63	0	20	3
More than 30 years	0	0	0	0	0
No stated term	108	81	3	19	4
Median	30	30	28	30	30
Unexpired Term of First Mortgage Less than 5 years	3	2	0	1	0
5 to 9 years	2	2	0	0	0
10 to 14 years	30	21	0	9	0
15 to 19 years	8	4	0	4	0
20 to 24 years	25	14	2	10	0
25 to 29 years	46	41	0	2	3
30 or more years	12	12	0	0	0
No stated term or not computed	108	81	3	19	4
Median	23	25	22	18	27
Holder of First Mortgage Commercial bank or trust company	38	29	1	8	0
Savings and loan association, federal savings bank	32	23	0	8	0
Mutual savings bank	5	2	0	3	0
Life insurance company	6	3	0	3	0
Mortgage banker or mortgage company	19	19	0	0	0
Federally-sponsored secondary market agency or pool	97	81	4	10	2
Conventional mortgage pool	3	0	0	3	0
Other federal agency	12	6	0	5	0
Real estate investment trust	0	0	0	0	0
Pension or retirement fund	0	0	0	0	0
Credit union	5	3	0	3	0
Finance company	0	0	0	0	0
State or municipal government or housing finance agency	4	4	0	0	0
Individual or individual's estate	6	1	0	1	3
Other	8	6	0	0	2
First Mortgage Loan as a Percent of Purchase Price Properties acquired by purchase with first mortgage made or assumed at time of purchase	173	125	3	37	7
Less than 40 percent	10	7	0	3	0
40 to 49 percent	6	6	0	0	0
50 to 59 percent	1	0	0	1	0
60 to 69 percent	17	17	0	0	0
70 to 79 percent	17	15	0	2	0
80 to 89 percent	24	15	0	6	3
90 to 94 percent	7	4	0	3	0
95 to 99 percent	20	15	3	0	2
100 percent or more	61	40	0	19	2
Not reported	10	7	0	3	0
Median	94	89	97	100+	96
Other properties	62	53	2	7	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	173	125	3	37	7
Less than 40 percent	16	13	0	3	0
40 to 49 percent	0	0	0	0	0
50 to 59 percent	10	9	0	2	0
60 to 69 percent	28	25	0	3	0
70 to 79 percent	23	17	0	6	0
80 to 89 percent	20	13	0	7	0
90 to 94 percent	8	2	0	3	3
95 to 99 percent	24	16	3	2	2
100 percent or more	35	25	0	8	2
Not reported	9	6	0	3	0
Median	82	77	97	84	96
Other properties	62	53	2	7	0
Not available	0	0	0	0	0
First Mortgage Risk Subprime loan	8	4	1	3	0
Not subprime loan	227	174	4	41	7
Not reported	0	0	0	0	0
Index Used to Adjust Interest Rate on ARM Properties with adjustable rate first mortgage	51	0	0	44	7
Treasury security	17	0	0	17	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	6	0	0	2	3
No index used	0	0	0	0	0
Not reported	29	0	0	25	4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
Frequency With Which Rate Can Be Adjusted Properties with adjustable rate first mortgage	51	0	0	44	7
Monthly	0	0	0	0	0
Every 3 months	0	0	0	0	0
Every 6 months	0	0	0	0	0
Yearly	15	0	0	15	0
Every 3 years	2	0	0	2	0
Every 5 years	0	0	0	0	0
Other	6	0	0	2	3
Not reported	29	0	0	25	4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
Caps on Interest Rate Per Adjustment Period Properties with adjustable rate first mortgage	51	0	0	44	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	12	0	0	12	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	2	0	0	2	0
4.0 percent or more	6	0	0	2	3
No caps	2	0	0	2	0
Not reported	29	0	0	25	4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
Caps on Interest Rate Over Life of ARM Properties with adjustable rate first mortgage	51	0	0	44	7
Less than 1 percent	0	0	0	0	0
1 percent	0	0	0	0	0
1.1 to 1.9 percent	3	0	0	0	3
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	17	0	0	17	0
No caps	2	0	0	2	0
Not reported	29	0	0	25	4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
Interest Rate Changed Since Mortgage Made Properties with adjustable rate first mortgage	51	0	0	44	7
Yes, rate has changed	22	0	0	19	3
No change since mortgage made	0	0	0	0	0
Not reported	29	0	0	25	4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
Percentage of Margin Over Index on ARM Properties with adjustable rate first mortgage	51	0	0	44	7
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	11	0	0	11	0
3 percent	5	0	0	5	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	3	0	0	0	3
Not reported	29	0	0	25	4
Median	2.8	0.0	0.0	2.7	5002.4
Other properties	183	178	5	0	0
Not reported	0	0	0	0	0
ARM Convertible to Fixed Rate Mortgage Properties with adjustable rate first mortgage	51	0	0	44	7
Can be converted	5	0	0	1	3
Cannot be converted	18	0	0	18	0
Not reported	29	0	0	25	4
Other properties	183	178	5	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	205	178	5	19	3
Not reported	29	0	0	25	4
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	205	178	5	19	3
Not reported	29	0	0	25	4
MORTGAGE PAYMENTS AND OTHER EXPENSES Method of Payment of First Mortgage Regular payments of interest and/or principal	222	171	5	38	7
Interest and principal	222	171	5	38	7
Fully amortized	208	162	0	38	7
Not fully amortized	14	9	5	0	0
Interest only	0	0	0	0	0
No regular payments required	2	0	0	2	0
Not reported	10	7	0	3	0
Items Included in First Mortgage Payment@1 Regular monthly payments of both interest and principal	222	171	5	38	7
Real estate taxes	86	67	0	15	3
Property insurance	66	54	0	9	3
Mortgage insurance	32	24	0	5	3
Other	16	10	0	7	0
No items included or not reported	134	101	5	23	4
No regular payments of interest and principal	12	7	0	6	0
Monthly Interest and Principal Payments on First Mortgage Monthly payments of interest and/or principal	222	171	5	38	7
Less than $100	0	0	0	0	0
$100 to $199	2	2	0	0	0
$200 to $299	4	1	0	4	0
$300 to $399	30	27	0	0	3
$400 to $499	25	18	0	7	0
$500 to $599	13	7	2	4	0
$600 to $699	22	15	0	8	0
$700 to $799	15	10	1	4	0
$800 to $899	21	16	0	5	0
$900 to $999	9	9	0	0	0
$1,000 to $1,249	42	37	2	3	0
$1,250 to $1,499	9	7	0	1	0
$1,500 or more	29	23	0	2	4
Median	794	839	753	657	1500+
Mean	891	913	802	721	1329
No regular payments required	2	0	0	2	0
Not reported	10	7	0	3	0
Current First Mortgage Payment Status Regular monthly payments of principal and/or interest	232	178	5	42	7
Up-to-date, ahead of schedule, or less than 90 days past due	111	89	2	17	3
Delinquent by 90 days or more	2	2	0	0	0
Legal proceedings have begun	2	2	0	0	0
Legal proceedings have not begun	0	0	0	0	0
Not reported	0	0	0	0	0
Not reported	119	87	3	25	4
Other properties	2	0	0	2	0
Monthly Interest and Principal Payments on Total Mortgages Regular monthly payments of interest and/or principal	222	171	5	38	7
Less than $100	0	0	0	0	0
$100 to $199	2	2	0	0	0
$200 to $299	4	1	0	4	0
$300 to $399	28	25	0	0	3
$400 to $499	24	19	0	4	0
$500 to $599	13	7	2	4	0
$600 to $699	13	11	0	2	0
$700 to $799	16	8	1	7	0
$800 to $899	26	16	0	11	0
$900 to $999	10	10	0	0	0
$1,000 to $1,249	38	35	0	3	0
$1,250 to $1,499	13	11	0	1	0
$1,500 or more	34	26	2	2	4
Median	840	876	753	778	1500+
Mean	939	954	1073	778	1329
No regular monthly payments required	12	7	0	6	0
Interest and Principal Payments on Total Mortgages as Percent of Income Regular monthly payments of interest and/or principal	222	171	5	38	7
Less than 5 percent	1	0	0	1	0
5 to 9 percent	21	21	0	0	0
10 to 14 percent	31	23	0	8	0
15 to 19 percent	48	34	0	11	2
20 to 24 percent	39	33	0	6	0
25 to 29 percent	28	21	0	7	0
30 to 34 percent	24	21	0	0	3
35 to 39 percent	6	3	2	1	0
40 to 49 percent	6	3	1	0	2
50 percent or more	11	7	0	4	0
Not reported or not computed	8	5	2	1	0
Median	20.8	20.7	38.3	19.4	32.0
No regular monthly payments required	12	7	0	6	0

@1Detail does not add to total because more than one answer accepted.
@8May not add to total because not reported and not calculated are not included.
@8May not add to total because not reported and not calculated are not included.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.
@1Detail does not add to total because more than one answer accepted.

Go to Residential Finance Survey: 2001 Detailed Regional Tables

Contact the Demographic Call Center Staff at 301-763-2422 or 1-866-758-1060 (toll free) or visit ask.census.gov for further information on Residential Finance Survey.

Source: U.S. Census Bureau, Housing and Household Economic Statistics Division

Last Revised: December 07, 2005

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