Residential Finance Survey: 2001 - Census · Residential Finance Survey: 2001 Residential Finance Survey: ... Pamela Hunter, ... Roy A. Bernardi, Deputy Secretary

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Residential Finance Survey: 2001Census 2000 Special Reports

U.S. Department of CommerceEconomics and Statistics Administration

U.S. CENSUS BUREAU

U.S. Department of Housing and Urban DevelopmentOffice of Policy Development and Research

CENSR-27

Issued September 2005

This report presents data from the 2001 Residential Finance Survey, which was sponsored by the U.S.Department of Housing and Urban Development and conducted by the U.S. Census Bureau. It was preparedprimarily under the direction of Ronald J. Sepanik, Director, Housing and Demographic Analysis Division,Department of Housing and Urban Development, and Daniel H. Weinberg, then Chief, Housing andHousehold Economic Statistics Division, Census Bureau. Frederick J. Eggers, former Deputy AssistantSecretary for Economic Affairs at the Department of Housing and Urban Development, was very influential indeveloping support and marshaling resources for this survey.

Ronald J. Sepanik, assisted by David A. Vandenbroucke and Robert A. Knight, was responsible foroverseeing the Residential Finance Survey and this report on behalf of the Department of Housing and UrbanDevelopment.

Within the Census Bureau, this report was developed in the Housing and Household Economic StatisticsDivision. It was prepared under the supervision of Leonard J. Norry, then Assistant Division Chief for HousingCharacteristics, by Peter J. Fronczek, former Chief, and Howard A. Savage, Chief of Financial and MarketCharacteristics Branch. Walter L. Busse, Mary B. Schwartz, Richard A. Levy, and Linda B. Cavanaughperformed specific activities related to data collection procedures, statistical presentation, organization of thereport, and preparation of text materials.

Specifications for selecting the survey sample and calculating weight and variance were developed in theDemographic Statistical Methods Division under the supervision of Alan R. Tupek, Chief, andDennis J. Schwanz, Branch Chief, assisted by B. Dale Garrett and Carol M. Mylet. Guech Nay Tech andBrian J. Hotton were responsible for selecting the sample, while Neil E. Wohlford andRobert Charles Abramson verified the weighting calculations. Variance calculations were made byMark Gorsak. Assistance in weighting the data file was provided in the Decennial Systems and ContractsManagement Office by Michael Clark.

Coordination of the mailout, clerical, and data capture activities was performed by the Survey CoordinationLiaison Staff (National Processing Center) in the Demographic Surveys Division, Chester E. Bowie, then Chief,under the supervision of Frederick L. McKee, with assistance from Lewis S. Lenkey and Evelyn J. Judd.

The manual processing and data capture of questionnaires were performed at the National Processing Centerunder the supervision of Judith N. Petty, then Chief, assisted by the following: Mark T. Grice, AssistantDivision Chief, Processing; Don Overton, Chief, Document Services Branch; Patricia Linton, Chief,Operations Section; Denise Anderson, Chief, Census Operations Branch; Art Stewart, Chief, Support andControl Section;Eileen Little, Chief, Current Projects Branch; Russell White, Chief, Special Projects Section;Margaret Coy, Chief, Statistical Methods and Quality Assurance Branch; Danny Whitehouse, Chief, QualityAssurance Processing Section; Pamela Hunter, Chief, Quality Assurance Materials Section; David E.Hackbarth, Assistant Division Chief, Technology and Information; Angela Feldman Harkins, Chief,Automated Capture Branch; Marilyn Mink, Chief, Project Planning and Programming Section; Joye Mullins,Chief, Scanning Section; Jane L. Woods, Assistant Division Chief, Teleprocessing; B. J. Wright, Chief,Jeffersonville Telephone Center; Jo Anne Milliner, Chief, Telephone Operations Section; Darrell Farabee,Chief, Data Capture Branch; and Carol Stubblefield, Chief, Keying Operations Section.

The Field Division, under the supervision of Marvin D. Raines, Associate Director for Field Division, directedthe field follow-up operation for nonresponse cases. Field operations, procedures, training, andtroubleshooting were prepared by the Housing and Health Surveys Branch, Blair E. Russell, Chief, assisted byLaurie Anne Jarboe.

Computer processing was performed in the Demographic Surveys Division, Chester E. Bowie, then Chief; inthe Housing Surveys and Programming Branch under the direction of Thomas L. Blatt, Chief, bySharonica L. Baker, Gail K. Burns, Daniel C. Collier, Colette K. Fladger, Christopher L. George,Thomas A. Iseman, Debra K.P. Knoll, Jimmy T. Nguyen, Cherie L. Nichols, Susan K. Peters,Diana S. Rubin, and Deanna L. Wilson.

The Administrative and Customer Services Division, Walter C. Odom, Chief, assisted by James R. Clark,Assistant Division Chief, and Susan L. Rappa, Chief, Publications Services Branch, Jamie Peters,Jan Sweeney, Helen M. Curtis, Wanda Cevis, and Everett L. Dove, provided publications and printingmanagement, graphics design and composition, and editorial review for print and electronic media. Design ofthe RFS forms was performed in the Forms and Mail Management Branch, Eric S. Smith, Chief, bySandra G. Chambers, Section Chief, Joan E. Crawford, Elizabeth D. Lopez, and Helen M. Moreland.

Survey design in the developmental stages was performed by the Statistical Research Division,Tommy Wright, Chief, by Eileen M. OBrien and Ashley D. Landreth.

In addition, the following people from agencies and organizations that use housing data participated in aworking group to determine the questions that were of most interest to the housing data-user community:James Mikesell, U.S. Department of Agriculture; Michael S. Feinberg, USDA/Rural Development;Peter Brady, Federal Reserve Board of Governors; Stephen Andrews and George Smith, Bureau of EconomicAnalysis; Lynne Sabatiuk, Department of Veterans Affairs; Stephen Zabrenski and Patrick Berbakos,Department of the Treasury; Robert D. Barr and Susan Collins, Fannie Mae; Jim Freund, Jim Follain, andFrank E. Nothaft, Freddie Mac; David Crowe, Paul Emrath, and Michelle Hamecs, National Association ofHome Builders; Jack Goodman, Jr., Hartrey Advisors; Douglas Duncan, Mortgage Bankers Association ofAmerica; Forrest Pafenberg and Mark Calabria, National Association of Realtors; and Amy Bogdon, FannieMae Foundation.

The 2001 Residential Finance Survey was part of the 2000 Census of Population and Housing. A list of keypersonnel who participated in the various activities associated with the census is available at.

ACKNOWLEDGMENTS

U.S. Department ofCommerce

Carlos M. Gutierrez,Secretary

David A. Sampson,Deputy Secretary

Economics and StatisticsAdministration

Kathleen B. Cooper, Under Secretary for

Economic Affairs

U.S. CENSUS BUREAUCharles Louis Kincannon,

Director

Residential Finance Survey: 2001CENSR-27

Issued September 2005

U.S. Department of Housingand Urban Development

Alphonso Jackson,Secretary

Roy A. Bernardi,Deputy Secretary

OFFICE OF POLICYDEVELOPMENT AND RESEARCH

Harold L. Bunce,Deputy Assistant Secretary for

Economic Affairs

Alan R. Tupek,Acting Associate Directorfor Demographic Programs

Vacant,Chief, Housing and HouseholdEconomic Statistics Division

SUGGESTED CITATION

U.S. Census Bureau,Census 2000 Special Reports,

CENSR-27,Residential Finance Survey: 2001

OFFICE OF POLICYDEVELOPMENT ANDRESEARCH

Harold L. Bunce,Deputy Assistant Secretaryfor Economic Affairs

Ronald J. Sepanik,Director, Housing andDemographic AnalysisDivision

ECONOMICS

AND STATISTICS

ADMINISTRATION

Economicsand StatisticsAdministration

Kathleen B. Cooper,Under Secretaryfor Economic Affairs

U.S. CENSUS BUREAU

Charles Louis Kincannon,Director

Hermann Habermann,Deputy Director andChief Operating Officer

Introduction .................................................................................................................I1Table Finding Guide......................................................................................................II1

MAPS

Census Regions and Divisions of the United States ........................................................III1Metropolitan Areas of the United States and Puerto Rico: 1999 .......................................III2

FIGURES

1. Percent Mortgaged by Property Type: 1991 and 2001 ..............................................IV12. Outstanding First Mortgage Debt by Property Type: 1991 and 2001..........................IV13. Percent of Outstanding First Mortgage Debt by Property Type: 1991 and 2001 ..........IV24. Percent of Outstanding First Mortgage Debt Held by Type of Holder: 1991

and 2001 .............................................................................................................IV25. Outstanding First Mortgage Debt by Type of Holder: 1991 and 2001 ........................IV36. Percent of Type of First Mortgage Instrument by Property Type: 2001 .......................IV3

CHAPTERS

1. Selected Summary Characteristics, All Properties ......................................................112. 1-Unit Homeowner Properties .................................................................................213. 2- to 4-Unit Homeowner Properties..........................................................................314. Rental and Vacant 1-Housing-Unit Properties ............................................................415. Rental and Vacant 2- to 4-Housing-Unit Properties ....................................................516. Rental and Vacant 5- to 49-Housing-Unit Properties ..................................................617. Rental and Vacant 50-or-More-Housing-Unit Properties ..............................................718. Condominium Properties ........................................................................................819. Mobile Home Properties..........................................................................................91

APPENDIXES

A. Geographic Terms and Concepts .............................................................................A1B. Definitions and Explanations of Subject Characteristics .............................................B1C. Data Collection and Processing Procedures ..............................................................C1D. Source and Accuracy of the Estimates .....................................................................D1E. Facsimiles of Questionnaire Pages............................................................................E1F. Data Products and User Assistance ...........................................................................F1

CONTENTS

Contents Residential Finance Survey: 2001

U.S. Department of Housing and Urban Development and U.S. Census Bureau

Introduction

CONTENTSComparability With Data From Other Sources ..............................................................................................................I3Comparability With Previous Residential Finance Surveys .............................................................................................I2Contents of the Report ..............................................................................................................................................I1Derived Figures ........................................................................................................................................................I2Relation to Census 2000............................................................................................................................................I3Symbols ...................................................................................................................................................................I2

This report presents statistical summaries of data from the Residential Finance Survey conducted in 2001 as part ofCensus 2000. Legal provision for this survey was made in the Act of Congress of August 31, 1954 (amended August 1957,December 1975, and October 1976), which codified Title 13, United States Code.

Detailed information is shown on the financing of homeowner and rental properties, including characteristics of the mort-gages, properties, and property owners. The data shown relate to the geographic boundaries as they existed forCensus 2000 and are presented for the entire United States and for the four census regions.

The data collection and processing procedures for the 2001 survey are similar to those used in the 1991 ResidentialFinance Survey (see Appendix C for a description of the 2001 collection and processing procedures). The scope of the sur-vey was expanded in 2001 to include the financing methods used by mobile home owners (installment loans or mort-gages) and reverse mortgages, a relatively new financing technique used primarily by seniors. In addition, for the firsttime, information was collected on switchable loans, which can switch from one type to another (such as from adjustableto fixed-rate and vice versa). Also, questions on interest rate buy downs, subprime loans, debt consolidation, and currentloan payment and delinquency status were included. The format of the tables in this report allows direct comparabilitywith the 1991 survey results, while content has been reduced in the publication but increased on the Internet. A descrip-tion of the changes since the last report appears below. More detailed information on the technical and procedural matterscovered in the text of this report can be obtained by writing to the Chief, HHES Division, U.S. Census Bureau, Washington,DC 20233-8500.

CONTENTS OF THE REPORTIn addition to text, this report contains a table-finding guide, a table of contents, maps, charts, detailed tables, and sixappendixes. The table-finding guide lists the subjects covered and shows the tables in which the various types of dataappear. The detailed tables are presented in nine chapters. The information by property-type group for each chapter isshown below.

Chapter Property-Type Group

1 Selected summary characteristics2 1-housing-unit homeowner properties3 2- to 4-housing-unit homeowner properties4 Rental and vacant 1-housing-unit properties5 Rental and vacant 2- to 4-housing-unit properties6 Rental and vacant 5- to 49-housing-unit properties7 Rental and vacant 50-or-more-housing unit properties8 Condominium properties9 Mobile home properties

Introduction I1Residential Finance Survey: 2001


The appendixes appear after the data tables in this report.

Appendix ADescribes geographic terms and concepts (for example, the four census regions).

Appendix BProvides definitions for the subjects covered in this report.

Appendix CSummarizes the collection and processing procedures used during the 2001 survey.

Appendix DPresents information on sources of error, sample design, sample size, ratio estimation, sampling variability,standard errors, and confidentiality protection.

Appendix EProvides facsimiles of the questionnaire pages.

Appendix FSummarizes the Census 2000 data products program by describing the information available in printedreports and other sources, and provides information on where to obtain assistance.

Note: This publication, along with more detailed data at the regional level, is available on the Internet at.

DERIVED FIGURESThis report presents means, medians, and percentages, as well as certain rates and ratios. The median is the middle valuein a distribution; that is, the median divides the distribution into two equal parts: one-half of the cases fall below themedian and one-half exceed the median. For all types of derived figures in this report, the figure is not presented (but indi-cated by three dots ...) if fewer than 25 sample properties (unweighted) are in the base.

The median is computed on the basis of the distribution shown in this report. When the median falls in the lower terminalcategory of an open-ended distribution, the method of presentation is to show the initial value of the next category fol-lowed by a minus sign. For example, if the median falls in the category Less than $10,000, it is shown as $10,000-.When the median falls in the upper terminal category of an open-ended distribution, the method of presentation is to showthe initial value of the terminal category followed by a plus sign. For example, if the median falls in the category$500,000 or more, it is shown as $500,000+.

The mean is obtained by aggregating the amounts for all properties and dividing by the total number of properties. Aggre-gates, when not published, may be approximated by multiplying the mean by the number of properties.

SYMBOLS A dash - signifies zero or a percent that rounds to less than 0.1. For tables in which data are shown in terms of thou-

sands of properties, cells with less than 500 properties contain dashes. Similarly, for tables in which data are shown inmillions of dollars, data cells with less than $500,000 contain dashes.

Three dots ... mean not applicable or that derived measures are not shown when the base is less than 25 sampleunweighted cases, or that the data are being withheld to avoid disclosure of information for individual properties.

COMPARABILITY WITH PREVIOUSRESIDENTIAL FINANCE SURVEYSThe 2001 Residential Finance Survey is the latest survey of residential mortgages conducted by the Census Bureau. Similarsurveys were conducted in connection with the 1950, 1960, 1970, 1980, 1990 censuses, and in a limited fashion in 1956.

As early as 1890, the Census Bureau (then the Census Division of the Department of the Interior) collected detailed statis-tics on residential mortgages. In the 1920 and 1940 censuses, mortgage questions were asked of owners who occupiedtheir own homes. In 1950, the census included the first separate survey on residential financing, similar to the current pro-gram. Data on mortgages, properties, and owners were collected for both owner-occupied and rental properties. In 1956,as part of the National Housing Inventory, an interim survey was made of the mortgage status of owner-occupied proper-ties having from one to four dwelling units.

Prior to 1950, mortgage data were limited to owner-occupied properties. In 1950, 1960, 1971, 1981, 1991, and 2001,rental properties were included, and information was obtained from mortgage lenders. Rental properties were not includedin the 1956 interim survey. The 1981 Residential Finance Survey collected data on owner-occupied condominiums for thefirst time. Data on rental condominiums and homeowner and rental mobile homes were collected for the first time in the1991 survey.

I2 Introduction Residential Finance Survey: 2001


The 2001 Residential Finance Survey covers nearly all of the same subjects included in 1991 except that questions onmortgage prepayment provisions and penalties, and the reasons for why all cash home buyers did not use credit, were notasked. A question on delinquent loans was reinstated after being left out of the 1991 survey. Several new topics wereadded in 2001 or were covered in greater detail than in any previous Residential Finance Survey. They include propertyexpenses (such as capital improvements, maintenance and repairs, management and administration, and mortgage insur-ance), ways in which the mortgage was obtained (including use of Internet, fax, or personal visit), the effect of seniors(age 55+) on the housing finance market (use of reverse mortgages, retirement communities with a minimum age require-ment, and rental complexes that include price of meals in the rent). In addition, for the first time, data were collected onthe number of housing units added to rental properties by new construction, conversion, or rehabilitation and the numberlost by demolition or conversion. Questions were added for rental properties on whether a manager was employed and ifSection 8 certificates or vouchers had ever been accepted as payment for rent. Subject areas covered in greater detail in2001 than in 1991 are ownership of property by a pension fund, whether the mortgage was financed with proceeds fromsale of tax credits, and whether the mortgage payment includes mortgage insurance.

RELATION TO CENSUS 2000The 2001 Residential Finance Survey is part of Census 2000 and provides information on the financing of homeowner andrental properties not covered in other Census 2000 reports. Some definitions of certain property and owner characteristicspresented in this report are different from those presented in other Census 2000 publications.

The basic unit of tabulation in the Residential Finance Survey is the property; in Census 2000, it is the housing unit. Thisdifference has particular significance for the 1-unit homeowner property data. In the census, a 1-unit owner-occupied hous-ing unit is just that. In the Residential Finance Survey, such a unit may be covered by a mortgage that also covers anotherhousing unit, and it becomes part of a 2-housing-unit property. In this volume, the number of 1-unit homeowner proper-ties may differ from the number of 1-unit owner-occupied housing units in other Census 2000 reports.

The Residential Finance Survey is restricted to nonfarm, privately owned residential properties. Census 2000 includes allhousing units, regardless of location or type of ownership. (See Appendix B for a description of properties excluded fromthe Residential Finance Survey.)

The residential finance data were collected in 2001; the 2000 housing census data a year earlier. This difference in timingcontributes to some differences in data relating to property, owner, and financial characteristics.

The monthly rental receipts tabulations in this report are based on the average rent of all housing units per property, whilein census reports, they are tabulated for each of the individual rental housing units.

The Residential Finance Survey is based on a sample selected from Census 2000 records of housing units located in areasthat were defined for other demographic survey programs in 2000, such as the American Housing Survey. In Census 2000,some items are based on a complete count of all housing units, while other items are based on a systematic sample, simi-lar in design to that used for the Residential Finance Survey.

COMPARABILITY WITH DATA FROM OTHER SOURCESComparability of the data in this report with data from other sources is affected by differences in definitions, timing, cover-age, method of enumeration, and sampling variability.

Statistics in this report relate to privately owned, nonfarm residential properties in the housing inventory at the time ofCensus 2000, supplemented by the list of addresses used as the sample frame for the 2001 American Community Survey(ACS).

In cases where the current owner was buying the property under a purchase contract and the property was encumberedwith a mortgage being repaid by the former owner, the data in this report relate to the purchase contract debt held by thenew owner. Conversely, in the mortgage data compilations of other organizations and government agencies, the data insuch dual-debt cases are based on the underlying mortgages. Similarly, in cases where one or more mortgages havebeen augmented by a wrap-around mortgage, data in this report are shown for the wrap mortgage. Other organiza-tions, if they include wrap mortgages at all in their data series, are likely to include data on the underlying mortgage(s).

The Census Bureau also collects data on mortgage characteristics in its American Housing Survey. This survey is conductednationally for the U.S. Department of Housing and Urban Development every odd-numbered year, along with six selectedmetropolitan areas every second odd-numbered year and 41 selected metropolitan areas in even numbered years on arotating basis, about one-third of them each time. There are some differences in similar data items which are collected in

Introduction I3Residential Finance Survey: 2001


both the Residential Finance Survey and the American Housing Survey. The surveys are conducted at different points intime; the unit of reference in the Residential Finance Survey is the property while in the American Housing Survey, it is thehousing unit. The Residential Finance Survey is unique because details of mortgage data are collected from the lender aswell as the owner. In addition, the American Housing Survey collects mortgage information for owner-occupied housingunits, while the Residential Finance Survey presents information on both homeowner and rental properties. Finally, as partof the decennial census, response to the Residential Finance Survey is mandatory, while response to the American HousingSurvey is voluntary. Administrative methods differ as well. Residential Finance Survey is primarily a mail survey with per-sonal visit follow-up, while American Housing Survey is a telephone- and personal-visit-based survey.

The Federal Housing Finance Board of the U.S. Department of the Treasury prepares monthly estimates on selected charac-teristics of conventional, fully-amortized, purchase-money mortgages based on mortgage loans closed during a 5-dayperiod each month. These data reflect loans originated by savings and loan associations, mortgage bankers, commercialbanks, and mutual savings banks, but do not include loans made directly by noninstitutional investors, such as individualsor construction companies, which are covered in this report.

The Department of Housing and Urban Development publishes data from its Survey of Mortgage Lending Activity. Thesedata are based on reports filed by about 1,500 lending institutions and agencies. The information relates to originations oflong-term and construction loans for residential and nonresidential properties and the sale, purchase, and holdings ofmortgages by major lender groups. These data are not directly comparable to information from the Residential FinanceSurvey.

The Federal Housing Administration (FHA) of the Department of Housing and Urban Development compiles data on thenumber and amount of mortgages with insurance in force insured under its several programs. Comparability of data in thisreport with FHA statistics is limited because of difference in timing and several other factors.

In FHA reports, the statistics are classified according to the two major groups of insurance programshome mortgagesand multifamily housing mortgages. FHA home mortgage data include renter-occupied properties. FHA multifamily housingmortgage data include nursing homes and land development activities, which are out of the scope of this survey. Alsoexcluded from this survey are FHA-mortgaged properties that were under construction at the time of Census 2000 (unlessthey were finished in time to be included in the supplementary sample drawn for the 2001 ACS) and those owned by fed-eral, state, or local agencies.

Mortgage amounts in the FHA compilations of mortgage holdings by type of lender are original face amounts and do notreflect repayment or unpaid interest, which are included in the outstanding debt figures in this report.

Estimates of the amount of mortgage debt outstanding on mortgages guaranteed by the Department of Veterans Affairs(VA) are made periodically by that agency based on operating records. These estimates are derived from data on the num-ber and average amount of loans closed and include rental properties.

I4 Introduction Residential Finance Survey: 2001


Table Finding Guide

Cross-Classification of Subjects by Table Number[This guide lists all subjects covered in this report and the table number in which they appear. The table numbers refer to the tables within the chap-ters. H indicates data for homeowner properties (chapters 13, 8, and 9) and R indicates data for rental and vacant properties (chapters 1 and49)]

Subject

Summarycharacteristics

Mortgagestatus

Type of firstmortgage

Mortgage insurancestatus

Junior mortagecharacteristics

H R H R H R H R H R

PROPERTY CHARACTERISTICS

Acquisition:Buildings and land. . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 ... ... 3 3 ... ...Manner of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...

Capital improvements:Value per housing unit . . . . . . . . . . . . . . . . . . . . . . . . ... ... 11 1 12 2 3 3 ... ...Total value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 ... 3 ... ...

Down payment, source of. . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...Land ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 21 ... ... ... ... ... ...Land rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 21 ... ... ... ... ... ...Maintenance and repair expenses per unit . . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...Property location by geographic area. . . . . . . . . . . . . ... ... 1 1 ... ... 3 3 ... ...Property new or previously occupied (owned) . . . . . ... ... 1 1 2 2 3 3 ... ...

Property benefits:Reason for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...Source of. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...Type of. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...

Property management:Employ property manager . . . . . . . . . . . . . . . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...Property management and administrativeexpenses per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...

Purchase price:Per housing unit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...As percent of value . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 ... ... 3 3 ... ...

Rental receipts:Per housing unit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...As percent of value . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...

Rental vacancy losses as percent of potentialreceipts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...

Section 8 Rental Housing certificates andvouchers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...

Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...Per housing unit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 11 1 12 2 ... 3 ... ...

Value/income ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 41 ... ... ... 3 ... ... ...Units, number of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...Utility and fuel expenses:

Per housing unit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...Year property acquired . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...Year structure built . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...

See footnotes at end of table.

Table Finding Guide II1Residential Finance Survey: 2001


Cross-Classification of Subjects by Table NumberCon.[This guide lists all subjects covered in this report and the table number in which they appear. The table numbers refer to the tables within the chap-ters. H indicates data for homeowner properties (chapters 13, 8, and 9) and R indicates data for rental and vacant properties (chapters 1 and49)]

Subject


Mortgagestatus




H R H R H R H R H R

OWNER CHARACTERISTICS

Age composition:Age of owner. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Composition of neighborhood, subdivision,building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 31 2 32 3 33 ... ...

Housing located in subdivision/building that isage...restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 2 2 3 3 ... ...

Meals provided in age...restricted housing . . . . . . . ... ... ... 31 ... 32 ... 33 ... ...Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Number of owners (owner status). . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Owned home previously . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Race of owner. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Sex of owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Hispanic/Latino origin (owner) . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...Type of owner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...Veteran status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 ... 2 ... 3 ... ... ...

MORTGAGE CHARACTERISTICS

Adjustable rate mortgage (ARM):Caps over life of ARM . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Caps per adjustment period . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Changed rate since mortgage made . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Convertible to fixed rate . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 ... ... ... ...Frequency of rate adjustment . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Index used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Percent margin over index. . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 ... ... ... ...

Form of debt of first mortgage . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...

Holder of mortgage:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 ... ... ... ... ... ... 4 4Home equity line of credit . . . . . . . . . . . . . . . . . . . . . 51 51 ... ... ... ... ... ... ... ...Installment loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 21 21 22 22 23 23 ... ...

Holders acquisition of mortgage:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

Interest rate, current:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4Home equity line of credit . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... ... ...

Interest rate buydown, type of(first mortgage) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Monthly payments can change other than changein interest rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4

Mortgage loan application, method of(first mortgage) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Mortgage instrument, type of:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 ... ... ... ... ... ... ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

Mortgage insurance status (first mortgage). . . . . . . . 51 51 ... ... 2 2 ... ... ... ...

Mortgage loan:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...


II2 Table Finding Guide Residential Finance Survey: 2001



Subject


Mortgagestatus




H R H R H R H R H R

MORTGAGE CHARACTERISTICSCon.

Mortgage loan as percent of purchase price:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...

Mortgage loan as percent of value:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...

Mortgage status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 ... ... ... ... ... ... ... ...Mortgages, number of . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...Negative amortization . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 4 4Origin of first mortgage . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Outstanding debt:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 31 ... ... 2 2 3 3 ... ...Home equity line of credit . . . . . . . . . . . . . . . . . . . . . 31 31 ... ... ... ... ... ... ... ...Installment loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 31 ... ... 2 2 3 3 ... ...Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 31 ... ... 2 2 3 3 ... ...

Outstanding debt as percent of value:Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...Outstanding debt by holder . . . . . . . . . . . . . . . . . . . . 31 31 ... ... ... ... ... ... ... ...Outstanding debt by mortgage insurance status. . 31 31 ... ... ... ... ... ... ... ...Purpose of first mortgage placed later thanacquisition of property . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Purpose of:Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4Second mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...Home equity line of credit . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...

Refinancing:Cash received from refinancing ormortgaging property owned free and clear . . . . . ... ... ... ... 2 2 3 3 ... ...

Use of cash received from refinancing ormortgaging property owned free and clear . . . . . ... ... ... ... 2 2 3 3 ... ...

Risk (first mortgage) . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Servicer of:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

Term of mortgage:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

Unexpired term of first mortgage. . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Year mortgage made or assumed:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

MORTGAGE PAYMENTS AND OTHEREXPENSES

Interest and principal payment (per housing unit):First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Total mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Interest and principal payment as percentof income:First mortgage.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... 3 ... ... ...Total mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 ... ... ... ... ...


Table Finding Guide II3Residential Finance Survey: 2001



Subject


Mortgagestatus




H R H R H R H R H R

MORTGAGE PAYMENTS AND OTHEREXPENSESCon.

Interest and principal payment as percent ofrental receipts:First mortgage.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... 2 ... 3 ... ...Total mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... 2 ... 3 ... ...

Items included in first mortgage payment . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Payment, method of:First mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...Junior mortgage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... ... 4 4

Payment status (first mortgage) . . . . . . . . . . . . . . . . . ... ... ... ... 2 2 3 3 ... ...

Real estate taxes:Per housing unit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 ... ... 3 3 ... ...Per $1,000 value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ... 1 1 ... 2 3 3 ... ...As percent of income.. . . . . . . . . . . . . . . . . . . . . . . . . ... ... ... ... ... ... ... 3 ... ...As percent of rental receipts . . . . . . . . . . . . . . . . . . . ... ... ... 1 ... 2 ... 3 ... ...

... Not applicable.

1Chapter 3 only for this subject.2Chapter 9 only for this subject.3Chapters 6 and 7 only for this subject.4Chapters 2, 8, and 9 only for this subject.5Chapter 1 only for this subject.

II4 Table Finding Guide Residential Finance Survey: 2001


PAN

J

NY

ME

NH

VT

MA

CT

RI

DN

DS

EN

S K

MN

IA

MO

IL

WI

INO

H

MI

setatS detinU eht fo snoisivi

D dna snoigeR susne

C

CIFICAP

KA

s eliM

004002

0

X T

KO

AR LA

MS

AL

GA

FLSC

TNN

C

KY

WV

VA

MD

DC

DE

EAST

NOR

THC

ENTR

AL

IM

DDLE

ATLA

NTIC

SOU

THAT

LANT

ICEA

STSO

UTH

CENT

RAL

TSEW

HTU

OSLART

NEC

TSEW

HTRO

NLART

NEC

seliM

0040 02

0

IH

CIFICAP

sel iM

00 2001

0

WA

MT

WY

ID

OR

CA

NV

UT

CO

NM

AZ

MO

UNT

AIN

PACI

IFC

WES

TTSE

WDIMNO

RTHE

AST

SOUT

H

uaer uB susneC .S.

U noitarts inimdA sc itsitatS dna sci

mono cE ecrem

moC fo t ne

mtrapeD .S.

Unoi siv i

D y h pa rg oeG e ht y b d e raperP

DNE

GE L

NEW

ENG

LAN

D

NO IGERN

OI SIVIDET ATS

Maps III1Residential Finance Survey: 2001


WACO TYLER

SAN ANTONIO

AUSTIN-SAN MARCOS

KILLEEN-TEMPLE

BROWNSVILLE-HARLINGEN-SAN BENITO

McALLEN-EDINBURG-MISSION

SANTA FE

ALBUQUERQUE

LAS CRUCES

EL PASO

AMARILLO

LUBBOCK WICHITA FALLS

ABILENE

SAN ANGELO

ENID TULSA

WICHITA

TOPEKA

SIOUX FALLS RAPID CITY

LINCOLN

GREAT FALLS

BILLINGS

CASPER

CHEYENNE

FORT COLLINS-LOVELAND PROVO-OREM

COLORADOSPRINGS

PUEBLO

GRAND JUNCTION

FLAGSTAFF

SALT LAKE CITY-OGDEN

SPOKANE

BELLINGHAM

YAKIMA

EUGENE-SPRINGFIELD

BOISE CITY MEDFORD-ASHLAND

RENO REDDING

STOCKTON-LODI MODESTO MERCED FRESNO

SALINAS

SANTA BARBARA-SANTA MARIA-LOMPOC

SAN LUIS OBISPO-ATASCADERO-PASO ROBLES

LAS VEGAS

PHOENIX-MESA

TUCSON

GRAND FORKS

FARGO-MOORHEAD

SIOUX CITY

OMAHA

KANSAS CITY

TEXARKANA-TEXARKANA

BEAUMONT-PORT ARTHUR

BRYAN-COLLEGE STATION

LONGVIEW-MARSHALL

LAWTON

CORPUS CHRISTILAREDO

ODESSA-MIDLAND

BISMARCK

POCATELLO

RICHLAND-KENNEWICK-PASCO

CHICO-PARADISE

VISALIA-TULARE-

BAKERSFIELD

PORTERVILLE

YUMA

VICTORIA

SHERMAN-DENISON

OKLAHOMACITY F

ORTSMITH

LAWRENCE

SAN DIEGO

YUBACITY

MISSOULA

CORVALLIS

SAN FRANCISCO-OAKLAND-SAN JOSE

HOUSTON-GALVESTON-BRAZORIA

SEATTLE-TACOMA-BREMERTON

PORTLAND-SALEM

LOS ANGELES-RIVERSIDE-ORANGE COUNTY

DENVER-BOULDER-GREELEY

DALLAS-FORT WORTH

SACRAMENTO-YOLO

Brazoria

Houston

Bremerton

Portland-Vancouver

Santa Rosa San Francisco

Ventura

Oakland San JoseSanta Cruz-Watsonville

Galveston-Texas City

Dallas

Greeley

Boulder-Longmont

Olympia

Salem

Vallejo-Fairfield-Napa Yolo

Riverside-San Bernardino

Denver

Sacramento

Seattle-Bellevue-Everett

Tacoma

Fort Worth-Arlington

CountyOrange

Los Angeles-Long Beach

ANCHORAGE

0 300 600 Miles1:45,000,000

0 300 600 900 Kilometers

HONOLULU

0 100 200 Miles1:15,000,000

0 100 200 300 Kilometers

LEGENDAMARILLO Metropolitan Statistical Area (MSA)

PORTLAND-SALEM Consolidated Metropolitan Statistical Area (CMSA)Yolo Primary Metropolitan Statistical Area (PMSA)

StateMetropolitan county or county equivalent

U.S. DEPARTMENT OF COMMERCE, Economics and Statistics Administration, Bureau of the Census

Metropolitan Areas of the United States and Puerto Rico: 1999ALASKA

HAWAII

Metropolitan Area boundaries and names are those defined by theFederal Office of Management and Budget on June 30, 1999. Allother boundaries and names are as of June 30, 1999.

III2 Maps Residential Finance Survey: 2001


HOUMA

ROCHESTER

JAMESTOWN

LANCASTER

JACKSONVILLE

WILMINGTON

FAYETTEVILLE

CHARLOTTE-

GASTONIA-

ROCK HILL

ROANOKE

LEXINGTON LOUISVILLE

OWENSBORO

LANSING-

EAST LANSING

MADISON

ROCKFORD

IOWA CITY FORT WAYNE

KNOXVILLE

ATLANTA

CHARLESTON-NOR

TH CHARLESTON

SAVANNAH

JACKSONVILLE

ALBANY

SUMTER

COLUMBIA

ANNISTON

DAYTONA BEACH

MELBOURNE-TITU

SVILLE-PALM BAY

FORT PIERCE-POR

T ST. LUCIE

NAPLES FORT MYERS

-CAPE CORAL

SARASOTA-BRADENT

ON

TAMPA-ST. PETERSB

URG-CLEARWATER

ORLANDO

TALLAHASSEE

PANAMA CITY

BILOXI-GULFPORT-

PASCAGOULA

TUSCALOOSA

JACKSON

PINE BLUFF

NEW ORLEANS

DECATUR

MEMPHIS

JACKSON

CLARKSVILLE-HOPKINSVILLE

ST. JOSEPH

ST. LOUIS

SPRINGFIELD

MINNEAPOLIS-ST. PAUL

ST. CLOUD

GRAND FORKS

SIOUX CITY

OMAHA

DULUTH-SUPERIOR

MUNCIE DECATUR

CHAMPAIGN-URBANA

NORMALBLOOMINGTON-

ELKHART-GOSHEN

BENTONHARBOR

MANSFIELD

WHEELING

STEUBENVILLE-

WEIRTON

WEST PALM BEACH

- BOCA RATON

EAU CLAIRE WAUSAU

WILLIAMSPORT

BINGHAMTON

ELMIRA

STATECOLLEGE

ALBANY-

SCHENECTADY

-

TROY

SOUTHBEND

SAGINAW-BAY CITY-MIDLAND

GRAND RAPIDS-

MUSKEGON-HOLLAND

PARKERSBURG-

MARIETTA CUMBER

LAND

YOUNGSTOWN- WA

RREN

PORTLAND

LEWISTON-AUB

URN

LAKELAND-

WINTER HAVEN

PUNTA GORDA

OCALA

BEACHFORT WALTON

HATTIESBURG PENSACOLA

MOBILE

MONTGOMERY

MONROE

BATON ROUGE

BIRMINGHAM

GADSDEN

FLORENCE HUNTSVILLE

COLUMBUS

JOPLIN SPRINGFIELD

COLUMBIA KANSAS CITY

CEDAR RAPIDS

LAFAYETTE

JACKSON

KALAMAZOO-

BATTLECREEK

KOKOMO

TERREHAUTE

EVANSVILLE-HENDERSON

BLOOMINGTON

HICKORY

LENOIRMORGANT

ON- GREENVILLEMOUN

TROCKY

SCRANTON--WIL

KES-

BARRE--HAZLET

ON

JOHNSTOWN PIT

TSBURGH

BANGOR

BURLINGTON

ALTOONA

CHATTANOOGA

JOHNSON CITY-

KINGSPORT-BRISTOL

JONESBORO

LITTLE ROCK-NORTH LITTLE ROCK

INDIANAPOLIS

GLENSFALLS

UTICA-ROME

SHARON ERIE

APPLETON-OSHKOSH-

NEENAH

DUBUQUEWATERLOO-CEDAR FALLS

FORTSMITH

LAFAYETTE

DOTHAN

GAINESVILLE

AUGUSTA-AIKEN

MACON

ASHEVILLE

GREENVILLE-

ANDERSON

FLORENCE

SPARTANBURG-

NASHVILLE

LIMA TOLEDO

SPRINGFIELD

CHARLESTON

CHARLOTTESVILL

E

WINSTON-SALEM--GRE

ENSBORO--

HIGH POINT

MYRTLEBEACH

GOLDSBORO

RICHMOND-PETE

RSBURG

LYNCHBURG

DANVILLE

YORK

READING

DOVER

NORFOLK-VIRG

INIA BEACH-NE

WPORT NEWS

ALLENTOWN-B

ETHLEHEM-EAS

TON

ATHENS

HARRISBURG-LEB

ANON-CARLISLE

DAYTON-

ASHLANDHUNTINGT

ON-

SYRACUSE

COLUMBUS

CANTON-MASSILLO

N

ROCHESTER

LA CROSSE SHEBOYGAN

DESMOINES

PEORIA-PEKIN

SPRINGDALE-FAYETTEVILLE-

ROGERS

BUFFALO-

NIAGARA FALLS

GREENBAY

FARGO-MOORHEAD

LAKE CHARLES

TEXARKANA-TEXARKANA

SHREVEPORT-BOSSIER CITY

ALEXANDRIA

RALEIGH-DURHAM

- CHAPEL HILL

JANESVILLE-BELOIT

DAVENPORT-MOLINE-

ROCK ISLAND

AUBURN-OPELIKA

CLEVELAND- AKRON

MIAMI- FORT LAU

DERDALE

CHICAGO-GARY-KENOSHA

DETROIT-ANN ARBO

R-FLINT

CINCINNATI-

HAMILTONWASHIN

GTON-

BALTIMORE

PHILADELPH

IA-WILMINGT

ON-ATLANTIC

CITY

NEW YORK-N

ORTHERN NEW

JERSEY-LONG

ISLAND

MILWAUKEE-RACINE

SEE INSET

Newburgh Newa

rk

CountyDutch

ess

Kankakee

Akron

Washington

Miami

Milwaukee-Waukesha

Detroit

Fort Lauderdal

e

Middletown

Racine Kenosha

Chicago

Gary

Flint

Cleveland-

Lorain-Elyria

Cincinnati

Ann Arbor

Hamilton-

Bergen-Pas

saic

Nassau-Suff

olk

New York

Jersey City

Middlesex-S

omerset-Hu

nterdon

Trenton

Monmouth-O

cean

Atlantic-Cap

e May

Vineland-Mi

llville-Bridge

ton

Wilmington-

Newark

Baltimore

Philadelphia

Hagerstown

0 100 200 300 Miles1:15,000,000

0 100 200 300 400 Kilometers

BARNSTABLE-YARMOUTH

NEW LONDON-NORWICH

PITTSFIELD

PROVIDENCE-FALL RIVER-WARWICK

HARTFORD SPRINGFIELD

BOSTON-WORCESTER-LAWRENCE

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND (PART)

Portsmouth-Rochester

Lawrence

New Bedford

New Haven-Meriden Bridgeport

Stamford-Norwalk

Danbury

Fitchburg-Leominster

Worcester

Boston

Lowell Nashua

Manchester

Brockton

Waterbury

0 50 100 Miles1:6,000,000

0 50 100 Kilometers

PONCEMAYAGEZ

AGUADILLA SAN JUAN-CAGUAS-ARECIBO Arecibo

Caguas

San JuanBayamn

0 20 40 Miles1:5,000,000

0 20 40 Kilometers

PUERTO RICO

INSET

Metropolitan Area boundaries and names are those defined by theFederal Office of Management and Budget on June 30, 1999. Allother boundaries and names are as of June 30, 1999.

Maps III3Residential Finance Survey: 2001


Figure 1.Percent Mortgaged by Property Type: 1991 and 2001

*In 1991, rental and vacant properties were surveyed for 1 to 4 units. The percent mortgaged was 50.5 percent.Source: U.S. Census Bureau.

20011991

Mobile homes

Condominiums

50 or more units

5 to 49 units

2 to 4 units

1 unit

Mobile homes

Condominiums

2 to 4 units

1 unit

Homeowner properties

Rental and vacant properties

20.7

66.763.2

59.257.0

62.874.3

45.137.6

43.0NA*

56.2NA*

61.970.2

85.987.7

52.767.3

19.8

Figure 2.Outstanding First Mortgage Debt by Property Type: 1991 and 2001

*In 1991, rental and vacant properties were surveyed for 1 to 4 units. The outstanding first mortgage debt was 301.8 billion dollars.**In 1991, mobile home installment loan debt was not included.Source: U.S. Census Bureau.

20011991

Mobile homes**

Condominiums

50 or more units

5 to 49 units

2 to 4 units

1 unit

Mobile homes

Condominiums

2 to 4 units

1 unit



NA*

NA*

(Billions of dollars)

3,483.31,618.8

65.955.3

220.5133.5

82.828.8

292.3

101.3

108.1120.2

232.0195.9

62.469.3

12.05.6

Figures IV1Residential Finance Survey: 2001


Figure 3.Percent of Outstanding First Mortgage Debt by Property Type: 1991 and 2001

* In 1991, rental and vacant properties were surveyed for 1 to 4 units. The percent of outstanding first mortgage debt was 11.9 percent.Source: U.S. Census Bureau.

20011991

Mobile homes

Condominiums

50 or more units

5 to 49 units

2 to 4 units

1 unit

Mobile homes

Condominiums

2 to 4 units

1 unit



NA*

NA*

74.764.0

1.42.2

4.75.3

1.81.1

6.3

2.2

2.34.85.0

7.71.32.7

0.30.2

Figure 4.Percent of Outstanding First Mortgage Debt Held by Type of Holder: 1991 and 2001

Source: U.S. Census Bureau.

20011991

Other

Individual

State or municipal government

Finance company

Credit union

Pension fund or retirement

Real estate investment trust

Other federal agency

Conventional mortgage pool

Federally-sponsored secondary market agency

Mortgage banker or mortgage company

Life insurance company

Mutual savings bank

Savings and loan

Commercial bank or trust15.5

14.6

10.524.2

1.81.9

1.7

2.4

9.79.0

44.130.4

2.03.0

2.6

3.4

0.20.2

0.10.6

2.71.1

2.2

1.4

3.6

2.7

1.53.1

1.6

2.0

IV2 Figures Residential Finance Survey: 2001


Figure 5.Outstanding First Mortgage Debt by Type of Holder: 1991 and 2001


20011991

Other

Individual

State or municipalgovernment

Finance company

Credit union

Pension fundor retirement

Real estateinvestment trust


Conventionalmortgage pool

Federally-sponsoredsecondary market agency

Mortgage banker ormortgage company

Life insurancecompany

Mutual savings bank

Savings and loan

Commercial bankor trust

(Billions of dollars)

51.4

724.0367.9

491.0

611.0

82.948.3

81.2

60.3

452.4

227.2

2,053.7769.0

92.476.6

121.2

86.4

11.05.6

6.914.9

127.928.1

101.335.8

168.9

67.2

72.1

79.5

73.7

Figure 6.Percent of Type of First Mortgage Instrument by Property Type: 2001


Mobile homes

Condominiums

50 or more units

5 to 49 units

2 to 4 units

1 unit

Mobile homes

Condominiums

2 to 4 units

1 unit



Otherincludes graduatedpayment mortgages (GPM)

Fixed-rate mortgage

Short-term/balloon mortgage

Adjustable-rate mortgage (ARM)

78.6 4.5 11.8 5.1

74.3 2.6 17.0 5.9

75.7 4.1 16.4 3.7

28.1 2.1 4.7 65.1

70.0 6.5 19.1 4.4

68.2 5.9 22.8 3.1

60.8 9.6 26.3 3.1

75.4 8.2 14.8 1.6

68.9 7.4 19.9 4.0

24.7 6.7 8.7 59.9

Figures IV3Residential Finance Survey: 2001


CHAPTER 1.Selected Summary Characteristics

All Properties

TABLES

UNITED STATES

1. Selected Summary Characteristics ...........................................................................13

CONTENTS

Selected Summary Characteristics 11Residential Finance Survey: 2001


Table 1. Selected Summary Characteristics, All Properties[For information on confidentiality protection, sampling error, nonsampling error, and definitions see text. For minimum base for derived figures (percent, median, etc.) and meaning of symbols, see text]

United StatesHomeowner properties Rental and vacant properties

All properties Total 1 housing unit

2 to 4housing

unitsCondo

miniumsMobilehomes Total 1 housing unit

2 to 4housing

units5 to 49

housing units50 or more

housing unitsCondo

miniumsMobilehomes

ALL PROPERTIES(in thousands)

Mortgage Status

All properties 83 465 67 671 56 960 1 087 3 883 5 741 15 794 9 855 2 035 473 71 1 619 1 741Mortgaged1 50 570 43 636 37 968 643 2 437 2 588 6 933 4 237 1 144 293 61 854 344Nonmortgaged 32 896 24 035 18 992 444 1 446 3 153 8 861 5 618 891 180 10 765 1 397

MORTGAGED PROPERTIES

Type of First Mortgage Instrument

Fixedrate, levelpayment mortgage 37 541 32 900 29 850 478 1 845 727 4 641 2 965 780 178 46 588 85Shortterm with balloon payment mortgage 2 333 1 869 1 695 17 101 55 464 277 68 28 5 63 23Reverse Mortgage 11 11 11 Adjustable rate mortgage (ARM) 6 474 5 119 4 489 109 400 121 1 355 808 261 77 9 170 30Other 4 211 3 737 1 923 38 91 1 685 474 188 36 9 1 34 206

First Mortgage Insurance Status

FHAinsured first mortgage 4 989 4 439 3 985 72 326 56 550 359 84 19 6 70 12VAguaranteed first mortgage 1 264 1 163 1 055 13 84 12 101 73 22 6 Rural Housing Service/Rural Developmentguaranteed loan 984 845 786 5 32 22 139 91 21 13 2 12

Insured by state agency 1 166 944 842 11 43 48 222 162 27 9 4 14 6Insured by state agency with FHA insurance, VAor Rural Housing Service/Rural Developmentguarantee 41 37 27 7 3 4 4

Insured conventional first mortgage 5 606 4 935 4 426 70 313 125 672 451 91 25 5 86 14Uninsured conventional first mortgage 32 856 27 961 25 289 446 1 575 651 4 895 2 989 873 224 44 654 112Not available 3 663 3 313 1 558 26 57 1 672 350 108 26 2 13 201

Holder of First Mortgage

Commercial bank or trust company 8 154 6 845 5 830 106 360 550 1 309 830 182 69 11 165 53Savings and loan association, federal savingsbank 4 954 4 107 3 451 72 245 340 847 460 166 50 7 106 58

Mutual savings bank 974 787 645 6 69 67 187 97 45 9 1 35 Life insurance company 761 635 565 11 51 9 126 77 21 9 3 4 12Mortgage banker or mortgage company 3 997 3 530 3 154 52 255 69 467 278 65 12 1 104 7Federallysponsored secondary market agency orpool 21 459 18 927 17 242 258 1 094 333 2 533 1 635 424 79 24 329 42

Conventional mortgage pool 675 606 537 19 24 27 68 52 9 1 1 6 Other federal agency 1 340 1 110 999 23 77 11 230 161 27 14 4 24 Real estate investment trust 69 52 49 3 16 7 4 4 1 Pension or retirement fund 65 58 48 4 6 7 6 1 Credit Union 2 058 1 824 1 572 15 63 174 234 142 49 8 2 14 20Finance company 2 685 2 341 1 425 28 53 835 345 165 25 3 1 9 142State or municipal government or housing financeagency 1 728 1 442 1 309 29 59 45 286 178 68 12 4 18 7

Individual or individuals estate 858 697 625 14 34 23 161 84 35 16 1 21 4Other 791 674 518 10 48 98 117 64 25 8 2 19

Holder of Junior Mortgage

Commercial bank or trust company 2 123 2 004 1 859 10 56 79 119 74 21 5 1 9 8Savings and loan association, federal savingsbank 859 785 674 12 12 87 74 45 9 3 1 9 7

Mutual savings bank 178 178 142 15 21 1 1 Life insurance company 75 71 54 6 11 4 3 1 Mortgage banker or mortgage company 285 254 247 7 31 22 2 7 Federallysponsored secondary market agency orpool 1 414 1 264 1 184 19 49 11 150 86 29 13 3 19

Conventional mortgage pool 118 118 111 5 2 Other federal agency 122 118 113 3 2 4 2 1 1 Real estate investment trust 6 6 6 Pension or retirement fund 4 4 4 Credit union 1 927 1 833 1 727 25 30 51 94 82 8 4 Finance company 4 598 4 339 3 868 59 136 276 259 159 69 4 23 3State or municipal government or housing financeagency 198 176 152 7 17 22 6 12 2 1

Individual or individuals estate 130 116 106 2 8 14 6 5 3 Other 227 187 127 8 11 41 40 19 5 2 7 6

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Table 1. Selected Summary Characteristics, All PropertiesCon.[For information on confidentiality protection, sampling error, nonsampling error, and definitions see text. For minimum base for derived figures (percent, median, etc.) and meaning of symbols, see text]



2 to 4housing

unitsCondo


2 to 4housing

units5 to 49


housing unitsCondo

miniumsMobilehomes

MORTGAGED PROPERTIESCon.

Holder of Equity Line of Credit

Commercial bank or trust company 1 344 1 309 1 241 11 45 11 35 24 6 1 3 Savings and loan association, federal savingsbank 314 314 298 2 7 7

Mutual savings bank 66 66 66 Credit union 1 835 1 737 1 663 28 33 14 98 75 18 3 1 Finance company 5 085 4 737 4 434 72 159 73 348 223 80 5 30 8Other 78 72 54 5 9 3 7 6

Holder of Installment Loan

Commercial bank or trust company 419 410 ... ... ... 410 8 ... ... ... ... ... 8Savings and loan association, federal savingsbank 354 315 ... ... ... 315 38 ... ... ... ... ... 38

Mutual savings bank 82 82 ... ... ... 82 ... ... ... ... ... Credit union 189 169 ... ... ... 169 20 ... ... ... ... ... 20Finance company 1 121 985 ... ... ... 985 136 ... ... ... ... ... 136State or municipal government or housing financeagency 25 18 ... ... ... 18 7 ... ... ... ... ... 7

Other 123 117 ... ... ... 117 6 ... ... ... ... ... 6

OUTSTANDING MORTGAGE DEBT(million dollars)

Outstanding Traditional Mortgage Debt

All mortgaged properties

Total mortgage debt 4 927 257 4 072 760 3 678 901 69 292 226 721 97 845 854 497 308 938 105 146 116 677 246 911 64 124 12 702First mortgage debt 4 660 529 3 852 558 3 483 287 65 897 220 528 82 845 807 971 292 286 101 322 108 064 231 990 62 357 11 952Junior mortgage debt 266 728 220 202 195 614 3 395 6 193 15 000 46 526 16 652 3 824 8 614 14 920 1 767 749

Outstanding Traditional First MortgageDebt by Mortgage Insurance Status

FHAinsured mortgage 409 545 340 583 307 225 5 809 25 602 1 947 68 962 23 190 9 378 7 519 24 641 3 696 537VAguaranteed first mortgage 110 084 105 810 93 450 3 425 8 514 421 4 274 2 780 1 299 194 Rural Housing Service/Rural Developmentguaranteed loan 79 445 60 199 56 332 331 2 356 1 180 19 247 3 426 2 080 8 138 4 831 771

Insured by state agency 127 080 85 486 79 826 994 3 528 1 138 41 594 11 678 1 357 4 068 22 076 2 250 165Insured by state agency with FHA insurance, VAor Rural Housing Service/Rural Developmentguarantee 2 947 2 357 2 071 84 203 590 77 31 482

Insured conventional first mortgage 636 967 555 367 506 545 9 080 33 637 6 104 81 600 38 606 8 996 8 275 16 319 8 586 818Uninsured conventional first mortgage 3 221 705 2 637 134 2 422 228 45 982 146 411 22 513 584 571 212 432 78 181 80 021 163 626 46 774 3 538Not available 72 755 65 621 15 611 274 397 49 340 7 134 96 32 11 14 85 6 895

Outstanding Traditional Mortgage Debtby Holder of Mortgage

Commercial bank or trust company

Total mortgage debt 791 976 643 672 577 660 11 614 35 670 18 728 148 303 52 845 17 211 27 251 38 649 9 753 2 595First mortgage debt 724 035 584 522 523 508 10 597 33 837 16 581 139 513 51 606 16 433 23 932 35 719 9 643 2 180Junior mortgage debt 67 940 59 150 54 153 1 017 1 832 2 148 8 791 1 239 779 3 319 2 930 110 414

Savings and loan association, federalsavings bank

Total mortgage debt 519 360 415 316 368 181 10 079 24 411 12 644 104 044 36 055 15 677 19 252 22 626 7 935 2 498First mortgage debt 491 009 391 492 347 368 9 690 24 185 10 249 99 517 34 383 15 356 18 440 21 686 7 359 2 293Junior mortgage debt 28 350 23 824 20 813 388 227 2 395 4 527 1 672 321 811 940 577 205

Mutual savings bank

Total mortgage debt 89 008 67 181 55 888 381 8 288 2 624 21 827 8 490 4 939 3 268 3 014 2 115 First mortgage debt 82 858 61 434 50 669 381 8 246 2 137 21 424 8 490 4 939 3 100 2 780 2 115 Junior mortgage debt 6 150 5 748 5 219 42 487 402 168 234

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OUTSTANDING MORTGAGE DEBTCon.

Life insurance company

Total mortgage debt 85 330 59 830 54 064 1 268 4 438 60 25 500 5 256 2 182 3 036 14 324 416 285First mortgage debt 81 165 56 649 51 197 1 129 4 262 60 24 516 5 256 1 998 2 910 13 651 416 285Junior mortgage debt 4 165 3 181 2 867 138 176 984 184 127 673

Mortgage banker or mortgage company

Total mortgage debt 463 421 412 016 373 171 6 708 28 012 4 125 51 404 29 718 6 192 4 840 1 994 8 413 248First mortgage debt 452 404 404 487 365 801 6 708 27 853 4 125 47 917 26 549 6 156 4 830 1 905 8 229 248Junior mortgage debt 11 017 7 529 7 370 159 3 488 3 169 36 10 89 184

Federallysponsored secondary marketagency or pool

Total mortgage debt 2 127 529 1 799 109 1 665 622 24 023 95 850 13 614 328 420 121 224 40 627 31 617 107 347 26 356 1 249First mortgage debt 2 053 699 1 743 315 1 612 816 23 403 94 021 13 075 310 385 113 077 39 269 29 408 101 591 25 790 1 249Junior mortgage debt 73 830 55 794 52 806 621 1 829 539 18 036 8 147 1 359 2 209 5 755 566

Conventional mortgage pool

Total mortgage debt 96 863 89 478 82 178 3 041 2 815 1 444 7 385 3 062 786 742 2 632 163 First mortgage debt 92 449 85 211 78 143 2 938 2 685 1 444 7 238 3 062 786 740 2 488 163 Junior mortgage debt 4 413 4 267 4 035 103 130 146 2 144


Total mortgage debt 128 137 94 355 84 185 1 873 7 976 321 33 782 10 500 1 919 8 924 10 211 2 228 First mortgage debt 121 173 88 431 78 459 1 726 7 924 321 32 742 10 500 1 826 8 593 9 595 2 228 Junior mortgage debt 6 964 5 924 5 726 146 51 1 040 93 331 617

Real estate investment trust

Total mortgage debt 11 487 6 432 6 175 257 5 055 1 242 224 813 2 776 First mortgage debt 11 000 6 097 5 840 257 4 903 1 242 224 708 2 729 Junior mortgage debt 487 335 335 152 105 47

Pension or retirement fund

Total mortgage debt 7 048 3 994 3 261 613 120 3 054 339 354 2 361 First mortgage debt 6 888 3 915 3 182 613 120 2 973 339 353 2 281 Junior mortgage debt 160 79 79 81 2 80

Credit union

Total mortgage debt 147 711 125 249 114 557 930 4 363 5 399 22 462 8 324 3 853 2 322 6 123 1 075 766First mortgage debt 127 859 107 089 98 039 882 4 233 3 935 20 770 7 272 3 583 2 229 5 845 1 075 766Junior mortgage debt 19 852 18 161 16 518 48 130 1 464 1 692 1 052 269 93 277

Finance company

Total mortgage debt 120 016 104 190 67 446 1 134 1 639 33 971 15 825 5 862 981 982 3 222 26 4 752First mortgage debt 101 278 86 029 56 558 996 1 552 26 923 15 249 5 623 981 900 3 049 4 696Junior mortgage debt 18 737 18 161 10 888 138 87 7 048 576 239 82 173 26 56

State or municipal government orhousing finance agency

Total mortgage debt 180 222 132 177 122 158 4 205 4 425 1 389 48 045 16 470 5 759 5 673 19 046 1 069 28First mortgage debt 168 897 124 183 115 680 3 689 3 494 1 320 44 714 16 385 5 300 5 054 16 877 1 069 28Junior mortgage debt 11 325 7 993 6 477 517 930 69 3 331 85 459 619 2 169

Individual or individuals estate

Total mortgage debt 77 124 57 532 52 098 2 538 2 599 298 19 591 4 853 3 477 4 541 3 996 2 518 207First mortgage debt 72 067 53 766 48 806 2 381 2 280 298 18 301 4 554 3 334 3 957 3 731 2 518 207Junior mortgage debt 5 057 3 767 3 292 156 318 1 290 298 144 584 264

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OUTSTANDING MORTGAGE DEBTCon.

Other

Total mortgage debt 82 027 62 228 52 255 1 499 5 365 3 108 19 799 4 696 1 319 3 062 8 591 2 058 74First mortgage debt 73 748 55 939 47 221 1 376 5 083 2 258 17 809 3 944 1 138 2 911 8 063 1 754 Junior mortgage debt 8 279 6 289 5 034 123 282 850 1 990 752 181 151 527 304 74

Outstanding Equity Line of Credit Debtby Holder

Commercial bank or trust company 31 832 31 057 28 454 1 029 1 317 256 775 464 254 4 20 33 Savings and loan association, federal savingsbank 8 857 8 805 8 668 109 28 52 52

Mutual savings bank 2 257 2 249 2 249 8 8 Credit union 11 466 10 714 10 646 33 34 752 517 175 7 53 Finance company 4 812 4 812 4 580 186 46 Other 1 512 1 467 1 202 53 181 31 45 36 9

Outstanding Installment Debt by Holder

Commercial bank or trust company 12 097 11 682 ... ... ... 11 682 414 ... ... ... ... ... 414Savings and loan association, federal savingsbank 11 266 9 656 ... ... ... 9 656 1 610 ... ... ... ... ... 1 610

Mutual savings bank 2 468 2 468 ... ... ... 2 468 ... ... ... ... ... Credit union 5 310 4 544 ... ... ... 4 544 766 ... ... ... ... ... 766Finance company 35 908 31 156 ... ... ... 31 156 4 752 ... ... ... ... ... 4 752State or municipal government or housing financeagency 591 563 ... ... ... 563 28 ... ... ... ... ... 28

Other 2 961 2 887 ... ... ... 2 887 74 ... ... ... ... ... 74

1Includes properties that have home equity and/or installment loans.

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CHAPTER 2.1-Unit Homeowner Properties

TABLES

UNITED STATES

2-1. Mortgage Status ....................................................................................................232-2. Type of First Mortgage...........................................................................................272-3. Mortgage Insurance Status ...................................................................................2162-4. Junior Mortgages and Home Equity Lines of Credit .................................................2282-5. Mortgage Status, Regional Summary .....................................................................230

CONTENTS

1-Unit Homeowner Properties 21Residential Finance Survey: 2001


Table 21. Mortgage Status, 1Unit Homeowner Properties[Number of properties in thousands. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text. For minimum base for derived figures (percent, median, etc.)and meaning of symbols, see text. *Permanent (closed end) mortgagesexcludes properties with home equity lines of credit as only mortgage]

United StatesMortgaged properties

Total properties Nonmortgaged properties Total mortgaged propertiesProperties with traditional

first mortgage*Properties with home equity

line of credit only

1housingunit properties 56 960 18 992 37 968 36 410 1 558

PROPERTY CHARACTERISTICS

Property Location by Geographic Area

Inside MAs 45 209 13 519 31 689 30 402 1 287In central cities 13 708 4 561 9 147 8 815 332Not in central cities 31 501 8 958 22 542 21 588 955

Outside MAs 11 751 5 473 6 279 6 008 271

Manner of Acquisition

By purchase 53 488 16 601 36 887 35 481 1 406Placed one new mortgage 43 382 9 462 33 920 32 878 1 042Placed two or more new mortgages 1 138 188 950 938 11Assumed mortgage(s) already on property 1 712 765 948 886 62Assumed mortgage(s) already on property andplaced new mortgage 294 104 191 171 20

Borrowed using assets other than this property ascollateral 659 463 196 135 61

Paid all cashno borrowing 6 033 5 424 610 403 206Other manner 268 195 74 70 4

By inheritance or gift 2 650 2 000 649 504 145By divorce 144 77 67 67 By some other manner 123 75 48 48 Not reported 556 239 317 310 7

Source of Downpayment1

Properties purchased 1995 to 2001(part) 21 572 2 788 18 784 18 579 205

Sale of previous home 7 117 1 150 5 967 5 879 87Sale of other real property or other investments 1 137 218 918 908 10Savings 10 800 1 069 9 731 9 636 94Borrowing from a retirement plan 842 31 810 810 Borrowing using assets other than this property ascollateral 492 49 443 423 20

Proceeds from an insurance policy 153 33 120 120 Payments in a leasepurchase agreement 177 34 143 143 From a state or local government source 284 12 271 263 8From a nonprofit organization 34 34 34 From parents or relatives 1 973 122 1 851 1 846 5Other 100 12 88 88 No downpayment required 1 707 334 1 372 1 354 18Not reported 554 158 396 392 4

Other properties 35 122 16 112 19 010 17 661 1 349Not reported 266 92 174 170 4

Year Property Acquired

1999 to 2001 (part) 10 368 1 568 8 800 8 716 831997 and 1998 7 223 1 051 6 172 6 110 621995 and 1996 5 292 980 4 313 4 212 1011990 to 1994 9 136 1 854 7 282 7 133 1481985 to 1989 6 445 1 846 4 599 4 397 2021980 to 1984 3 934 1 528 2 407 2 247 1601975 to 1979 4 253 1 986 2 267 2 049 2181970 to 1974 3 110 1 950 1 160 909 2511969 or earlier 7 199 6 230 969 636 333

Building and Land Acquisition

Acquired at same time 49 955 15 598 34 357 33 017 1 340Not acquired at same time 5 905 2 992 2 913 2 736 178Land not owned by building owner 526 168 358 347 11Not reported 575 235 340 311 29

Property New or Previously OccupiedWhen Acquired

Acquired by purchase 53 488 16 601 36 887 35 481 1 406New 15 553 6 190 9 363 8 913 450Previously occupied by someone else 37 599 10 269 27 330 26 380 949Converted from nonresidential use 61 43 18 18 Other 45 14 31 31 Not reported 229 84 145 139 7

Other properties 2 917 2 153 764 619 145Not reported 556 239 317 310 7

Year Structure Built

1999 to March 2000 2 256 328 1 928 1 911 171997 and 1998 2 529 351 2 178 2 157 201995 and 1996 2 255 331 1 924 1 880 431990 to 1994 4 624 904 3 720 3 660 601980 to 1989 8 486 1 916 6 570 6 407 1631970 to 1979 9 481 3 081 6 399 6 076 3231960 to 1969 7 491 3 438 4 053 3 788 2651950 to 1959 8 326 3 680 4 646 4 389 2571940 to 1949 3 787 1 708 2 079 1 965 1141939 or earlier 7 726 3 255 4 471 4 176 295

Residential Finance Survey: 2001 1Unit Homeowner Properties 23U.S. Department of Housing and Urban Development and U.S. Census Bureau

Table 21. Mortgage Status, 1Unit Homeowner PropertiesCon.[Number of properties in thousands. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see text. For minimum base for derived figures (percent, median, etc.)and meaning of symbols, see text. *Permanent (closed end) mortgagesexcludes properties with home equity lines of credit as only mortgage]




line of credit only

PROPERTY CHARACTERISTICSCon.

Purchase Price

Properties acquired by purchase 1997 to2001 (part) 16 586 2 001 14 585 14 477 108

Less than $20,000 598 295 303 287 16$20,000 to $39,999 1 020 278 741 729 13$40,000 to $59,999 1 272 170 1 103 1 084 18$60,000 to $79,999 1 813 208 1 605 1 605 $80,000 to $99,999 1 964 164 1 800 1 796 4$100,000 to $124,999 2 025 204 1 821 1 813 8$125,000 to $149,999 2 001 173 1 828 1 822 6$150,000 to $174,999 1 468 122 1 346 1 330 16$175,000 to $199,999 908 60 848 840 7$200,000 to $249,999 1 231 85 1 146 1 138 9$250,000 to $299,999 802 77 725 717 8$300,000 to $499,999 1 091 120 971 967 4$500,000 or more 394 45 349 349 Median 120 087 86 059 123 910 123 967 110 335Mean 151 354 123 090 155 232 155 516 117 060

Other properties 40 374 16 991 23 383 21 933 1 450

Value

Less than $20,000 1 515 1 197 319 285 33$20,000 to $39,999 2 983 1 855 1 129 1 051 78$40,000 to $59,999 4 681 2 220 2 461 2 317 144$60,000 to $79,999 6 276 2 517 3 759 3 569 190$80,000 to $99,999 6 661 2 130 4 531 4 371 159$100,000 to $124,999 6 452 2 025 4 427 4 223 204$125,000 to $149,999 5 717 1 360 4 357 4 235 121$150,000 to $174,999 4 892 1 256 3 637 3 482 154$175,000 to $199,999 3 293 737 2 555 2 476 80$200,000 to $249,999 4 288 1 055 3 233 3 117 116$250,000 to $299,999 3 118 872 2 247 2 167 80$300,000 to $499,999 4 890 1 243 3 646 3 487 159$500,000 or more 2 194 526 1 669 1 630 38Median 124 659 96 038 138 538 139 102 121 347Mean 165 990 135 855 181 063 182 092 157 009

Purchase Price as Percent of Value2

Acquired by purchase 53 488 16 601 36 887 35 481 1 406Purchased 1997 to 2001 (part) 16 586 2 001 14 585 14 477 108

Less than 60 percent 1 805 500 1 305 1 279 2560 to 69 percent 1 419 270 1 149 1 130 1970 to 79 percent 2 006 167 1 838 1 826 1280 to 99 percent 8 149 733 7 415 7 380 35100 percent or more 3 179 322 2 858 2 841 16Median 87 82 88 88 78

Purchased 1990 to 1996 (part) 13 610 2 341 11 269 11 052 218Less than 40 percent 1 031 310 721 676 4540 to 59 percent 2 086 454 1 632 1 595 3760 to 79 percent 4 846 791 4 055 3 991 6480 to 99 percent 4 068 628 3 440 3 394 46100 percent or more 1 541 142 1 400 1 374 25Median 75 70 76 76 68

Purchased 1989 or earlier 23 291 12 258 11 033 9 952 1 080Less than 20 percent 5 365 3 668 1 698 1 336 36220 to 39 percent 5 413 2 809 2 604 2 312 29240 to 59 percent 5 137 2 450 2 687 2 539 14860 to 79 percent 4 612 2 525 2 087 1 883 20480 to 99 percent 1 312 477 836 814 22100 percent or more 1 402 300 1 102 1 049 53Median 43 37 49 50 32

Not acquired by purchase 3 472 2 391 1 081 929 152

ValueIncome Ratio

Less than 1.0 4 805 2 254 2 551 2 389 1631.0 to 1.4 6 996 1 930 5 066 4 818 2481.5 to 1.9 8 380 1 965 6 415 6 216 2002.0 to 2.4 7 453 1 725 5 728 5 543 1862.5 to 2.9 5 558 1 369 4 189 4 072 1173.0 to 3.4 3 798 1 083 2 716 2 616 1003.5 to 3.9 2 611 761 1 850 1 794 564.0 or more 12 202 5 614 6 588 6 171 417Not reported or not computed 5 156 2 292 2 864 2 791 72Median 2.4 2.7 2.3 2.3 2.4

Value of Capital Improvements

Properties with capital improvementsbetween 1998 and 2000 29 042 7 731 21 310 20 429 881

Less than $500 615 290 324 308 17$500 to $999 1 052 362 690 671 19$1,000 to $2,499 4 803 1 374 3 428 3 306 122$2,500 to $4,999 5 255 1 839 3 416 3 298 118$5,000 to $7,499 5 311 1 298 4 013 3 843 170$7,500 to $9,999 1 580 413 1 166 1 129 38$10,000 to $14,999 3 659 889 2 770 2 624 146$15,000 to $19,999 1 868 349 1 518 1 435 84$20,000 to $29,999 2 401 430 1 971 1 875 96$30,000 or more 2 498 485 2 013 1 941 72Median 6 316 4 999 6 742 6 712 7 425Mean 12 253 10 652 12 834 12 852 12 407

Properties with no capital improvementsbetween 1998 and 2000 21 753 8 567 13 186 12 646 540

Capital improvements not reported 6 166 2 694 3 472 3 335 136

24 1Unit Homeowner Properties Residential Finance Survey: 2001U.S. Department of Housing and Urban Development and U.S. Census Bureau





line of credit only

PROPERTY CHARACTERISTICSCon.

Age Restrictions

Property located in subdivision restricted to peopleage 55 or older 2 555 532 2 023 1 987 36

Property located in subdivision not restricted topeople age 55 or older 51 404 16 964 34 440 32 987 1 453

Not reported 3 001 1 496 1 505 1 436 69

Neighborhood Composition

Property located in subdivision or neighborhoodoccupied predominantly by people age 55 or older 5 422 2 653 2 768 2 589 179

Property located in subdivision or neighborhood notoccupied predominantly by people age 55 or older 35 115 9 994 25 121 24 263 858

Dont know or not reported 16 423 6 344 10 079 9 558 521

Type of Property Benefits1

Governmentsponsored belowmarket interest ratemortgage loan 551 47 504 495 10

Other government grant or subsidy 227 30 196 193 3Property tax relief 3 383 1 652 1 731 1 633 98Subsidy from a nonprofit corporation 52 12 40 40 None of the above benefits 42 104 13 403 28 701 27 506 1 195Not reported 10 710 3 871 6 839 6 587 252

Source of Property Benefits1

With property benefits 4 146 1 718 2 428 2 317 111Federal government 606 126 480 467 13State government 1 929 858 1 071 1 019 52Local government 1 445 713 732 694 38Nonprofit corporation 52 12 40 40 Not reported 321 116 205 190 16

With no property benefits 42 104 13 403 28 701 27 506 1 195Not reported 10 710 3 871 6 839 6 587 252

Reason for Benefits1

With property benefits 4 146 1 718 2 428 2 317 111Occupied by low or moderateincome individuals 730 203 528 511 16Occupied by elderly or disabled individuals 1 082 806 276 253 23A historic structure 27 27 27 Located in a community development or economicdevelopment area 182 26 157 151 5

Covered by a Homestead Exemption 1 827 761 1 066 1 008 58Covered by a Community Land Trust 9 3 5 5 Covered by disaster relief 25 25 25 Other reason 709 219 490 468 22Not reported 197 67 131 127 4

With no property benefits 42 104 13 403 28 701 27 506 1 195Not reported 10 710 3 871 6 839 6 587 252

OWNER CHARACTERISTICS

Owner Status

1 owner 21 541 9 573 11 968 11 431 5372 owners 34 677 9 104 25 573 24 552 1 0213 or more owners 742 314 428 428

Age of Owner

Under 25 383 54 328 328 25 to 34 5 445 234 5 211 5 182 2835 to 44 11 534 950 10 584 10 436 14845 to 54 13 040 2 296 10 744 10 399 34555 to 64 9 663 3 609 6 054 5 579 47565 to 74 7 410 4 866 2 544 2 178 36775 and over 6 147 5 336 811 668 142Not reported 3 339 1 647 1 692 1 640 52Median 52 68 47 46 60

Race of Owner

White alone 50 352 17 161 33 191 31 761 1 430Black or African American alone 4 300 1 395 2 905 2 840 66American Indian or Alaskan Native alone 295 98 198 194 4Asian alone 1 519 246 1 273 1 241 32Native Hawaiian or Other Pacific Islander alone 134 15 119 115 4Two or more races 360 77 283 260 23

Sex of Owner

Male 44 063 12 736 31 327 30 105 1 221Female 12 898 6 256 6 641 6 305 337

Hispanic/Latino Origin

Hispanic/Latino owner(s) only 4 091 1 093 2 998 2 927 70No Hispanic/Latino owner(s) 52 869 17 899 34 970 33 483 1 487

Residential Finance Survey: 2001 1Unit Homeowner Properties 25U.S. Department of Housing and Urban Development and U.S. Census Bureau





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OWNER CHARACTERISTICSCon.

Veteran Status1

Veteran 14 356 6 300 8 057 7 576 481Active member of Reserves or National Guard for atleast 6 years 1 989 623 1 365 1 327 38

Persian Gulf War or after(August 1990 to present) 946 58 888 881 7

Vietnam or after(August 1964 to July 1990

Residential Finance Survey: 2001 - Census · Residential Finance Survey: 2001 Residential Finance Survey: ... Pamela Hunter, ... Roy A. Bernardi, Deputy Secretary

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