REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2007: July 1, 2006 June 30, 2007
1st Half of FY2007 = July 1, 2006 December 31, 2006
2nd Half of FY2007 = January 1, 2007 June 30, 2007
washington County
in Congressional District 3
HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2006 12/2006 |
14 |
$1,540,014.00 |
$110,001.00 |
$113,600.00 |
|
01/2007 06/2007 |
12 |
$1,325,852.00 |
$110,487.67 |
$111,000.00 |
|
Total FY2007 |
26 |
$2,865,866.00 |
$110,225.62 |
$112,300.00 |
|
Loan Cancellation Rate Total FY2007: |
21.2% |
Loans by Originator / Branch
|
|
7/1/06 - 12/31/06 |
1/1/07 - 6/30/07 |
TOTAL FY 2007 |
|||
|
ORIGINATOR / BRANCH |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Arvest Mortgage Company, Lowell, AR |
9 |
$974,310.00 |
8 |
$909,400.00 |
17 |
$1,883,710.00 |
|
Moore Mortgage, Little Rock, AR |
0 |
$0.00 |
2 |
$199,124.00 |
2 |
$199,124.00 |
|
Pulaski Mortgage Company, Fayetteville, AR |
1 |
$93,439.00 |
0 |
$0.00 |
1 |
$93,439.00 |
|
Simmons First Mortgage of Little Rock, Rogers, AR |
3 |
$347,720.00 |
2 |
$217,328.00 |
5 |
$565,048.00 |
|
Valley Bank, Springdale, AR |
1 |
$124,545.00 |
0 |
$0.00 |
1 |
$124,545.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2006 12/2006 |
13 |
$1,442,014.00 |
|
01/2007 06/2007 |
11 |
$1,222,967.00 |
|
|
Total FY2007 |
24 |
$2,664,981.00 |
|
|
New or Proposed Construction |
07/2006 12/2006 |
1 |
$98,000.00 |
|
01/2007 06/2007 |
1 |
$102,885.00 |
|
|
Total FY2007 |
2 |
$200,885.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2006 12/2006 |
7 |
$841,154.00 |
|
01/2007 06/2007 |
4 |
$416,452.00 |
|
|
Total FY2007 |
11 |
$1,257,606.00 |
|
|
VA |
07/2006 12/2006 |
0 |
$0.00 |
|
01/2007 - 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
0 |
$0.00 |
|
|
Conventional |
07/2006 12/2006 |
6 |
$545,800.00 |
|
01/2007 06/2007 |
8 |
$909,400.00 |
|
|
Total FY2007 |
14 |
$1,455,200.00 |
|
|
Rural Development |
07/2006 12/2006 |
1 |
$153,060.00 |
|
01/2007 06/2007 |
0 |
$0.00 |
|
|
Total FY2007 |
1 |
$153,060.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2006 12/2006 |
11 |
$1,196,369.00 |
78.6% |
$34,867.04 |
$34,008.00 |
|
01/2007 06/2007 |
11 |
$1,241,852.00 |
91.7% |
$40,535.85 |
$46,915.44 |
|
|
Total FY2007 |
22 |
$2,438,221.00 |
84.6% |
$37,701.45 |
$40,461.72 |
|
|
Minority |
07/2006 12/2006 |
3 |
$343,645.00 |
21.4% |
$42,596.40 |
$52,315.32 |
|
01/2007 06/2007 |
1 |
$84,000.00 |
8.3% |
$24,210.72 |
$24,210.72 |
|
|
Total FY2007 |
4 |
$427,645.00 |
15.4% |
$33,403.56 |
$38,263.02 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2006 12/2006 |
8 |
57.1% |
|
01/2007 06/2007 |
10 |
83.3% |
|
|
Total FY2007 |
18 |
69.2% |
|
|
Female |
07/2006 12/2006 |
6 |
42.9% |
|
01/2007 06/2007 |
2 |
16.7% |
|
|
Total FY2007 |
8 |
30.8% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2006 12/2006 |
2 |
14.3% |
|
01/2007 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
2 |
7.7% |
|
|
23 to 30 |
07/2006 - 12/2006 |
7 |
50.0% |
|
01/2007 06/2007 |
5 |
41.7% |
|
|
Total FY2007 |
12 |
46.2% |
|
|
31 to 40 |
07/2006 12/2006 |
1 |
7.1% |
|
01/2007 06/2007 |
4 |
33.3% |
|
|
Total FY2007 |
5 |
19.2% |
|
|
41 to 50 |
07/2006 12/2006 |
4 |
28.6% |
|
01/2007 06/2007 |
2 |
16.7% |
|
|
Total FY2007 |
6 |
23.1% |
|
|
51 to 60 |
07/2006 12/2006 |
0 |
0.0% |
|
01/2007 06/2007 |
1 |
8.3% |
|
|
Total FY2007 |
1 |
3.8% |
|
|
61 to 70 |
07/2006 12/2006 |
0 |
0.0% |
|
01/2007 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
71+ |
07/2006 12/2006 |
0 |
0.0% |
|
01/2007 06/2007 |
0 |
0.0% |
|
|
Total FY2007 |
0 |
0.0% |
|
|
Average Age |
07/2006 12/2006 |
31.7 |
|
|
01/2007 06/2007 |
34.1 |
||
|
Total FY2007 |
32.9 |
|
Average Household Size |
07/2006 12/2006 |
2.4 |
|
01/2007 06/2007 |
2.3 |
|
|
Total FY2007 |
2.4 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2006 12/2006 |
8 |
$32,119.00 |
$4,014.88 |
57.1% |
|
01/2007 06/2007 |
7 |
$30,470.00 |
$4,352.86 |
58.3% |
|
Total FY2007 |
15 |
$62,589.00 |
$4,172.60 |
57.7% |
|
Loan Cancellation - Total FY2007: |
25.0% |
Loans by Homebuyer Counselor
|
|
7/1/06 - 12/31/06 |
1/1/07 - 6/30/07 |
TOTAL FY 2007 |
|||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Credit Counseling of Arkansas |
0 |
$0.00 |
2 |
$9,420.00 |
2 |
$9,420.00 |