REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2008: July 1, 2007 June 30, 2008
1st Half of FY2008 = July 1, 2007 December 31, 2007
2nd Half of FY2008 = January 1, 2008 June 30, 2008
GARLAND
Countyin Congressional District
4HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2007 12/2007 |
7 |
$656,966.00 |
$93,852.29 |
$88,609.00 |
|
01/2008 06/2008 |
5 |
$409,819.00 |
$81,963.80 |
$78,271.00 |
|
Total FY2008 |
12 |
$1,066,785.00 |
$88,898.75 |
$83,440.00 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
1 (12.5%) |
|
01/2008 06/2008 |
5 (50.0%) |
|
FY2008 Total |
6 (33.3%) |
Loans by Originator / Branch
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
ORIGINATOR / BRANCH |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Elk Horn Bank Trust, Arkadelphia, AR |
0 |
$0.00 |
2 |
$203,535.00 |
2 |
$203,535.00 |
|
First National Bank, Hot Springs, AR |
1 |
$76,000.00 |
0 |
$0.00 |
1 |
$76,000.00 |
|
Magna Bank, Little Rock, AR |
0 |
$0.00 |
1 |
$75,613.00 |
1 |
$75,613.00 |
|
Regions Mortgage, Benton, AR |
1 |
$88,609.00 |
0 |
$0.00 |
1 |
$88,609.00 |
|
Regions Mortgage, Little Rock, AR |
1 |
$127,000.00 |
0 |
$0.00 |
1 |
$127,000.00 |
|
Summit Bank, Hot Springs, AR |
4 |
$365,357.00 |
2 |
$130,671.00 |
6 |
$496,028.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
7 |
$656,966.00 |
|
01/2008 06/2008 |
5 |
$409,819.00 |
|
|
Total FY2008 |
12 |
$1,066,785.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
3 |
$228,857.00 |
|
01/2008 06/2008 |
2 |
$153,884.00 |
|
|
Total FY2008 |
5 |
$382,741.00 |
|
|
VA |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 - 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Conventional |
07/2007 12/2007 |
4 |
$428,109.00 |
|
01/2008 06/2008 |
3 |
$255,935.00 |
|
|
Total FY2008 |
7 |
$684,044.00 |
|
|
Rural Development |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
5 |
$487,466.00 |
71.4% |
$37,730.83 |
$40,548.00 |
|
01/2008 06/2008 |
4 |
$293,319.00 |
80.0% |
$34,448.22 |
$34,668.66 |
|
|
Total FY2008 |
9 |
$780,785.00 |
75.0% |
$36,089.52 |
$37,608.30 |
|
|
Minority |
07/2007 12/2007 |
2 |
$169,500.00 |
28.6% |
$35,823.84 |
$35,823.84 |
|
01/2008 06/2008 |
1 |
$116,500.00 |
20.0% |
$51,011.52 |
$51,011.52 |
|
|
Total FY2008 |
3 |
$286,000.00 |
25.0% |
$43,417.68 |
$43,417.68 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
5 |
71.4% |
|
01/2008 06/2008 |
3 |
60.0% |
|
|
Total FY2008 |
8 |
66.7% |
|
|
Female |
07/2007 12/2007 |
2 |
28.6% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
4 |
33.3% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
1 |
8.3% |
|
|
23 to 30 |
07/2007 - 12/2007 |
2 |
28.6% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
3 |
50.0% |
|
|
31 to 40 |
07/2007 12/2007 |
3 |
42.9% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
4 |
33.3% |
|
|
41 to 50 |
07/2007 12/2007 |
1 |
14.3% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
2 |
16.7% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
61 to 70 |
07/2007 12/2007 |
1 |
14.3% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
8.3% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Average Age |
07/2007 12/2007 |
37.1 |
|
|
01/2008 06/2008 |
28.4 |
||
|
Total FY2008 |
32.8 |
|
Average Household Size |
07/2007 12/2007 |
1.7 |
|
01/2008 06/2008 |
1.8 |
|
|
Total FY2008 |
1.8 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
2 |
$12,000.00 |
$6,000.00 |
28.6% |
|
01/2008 06/2008 |
2 |
$7,170.00 |
$3,585.00 |
40.0% |
|
Total FY2008 |
4 |
$19,170.00 |
$4,792.50 |
33.3% |
Loans by Homebuyer Counselor
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
South Arkansas Community Development |
1 |
$6,000.00 |
0 |
$0.00 |
1 |
$6,000.00 |
|
In Affordable Housing |
1 |
$6,000.00 |
0 |
$0.00 |
1 |
$6,000.00 |
|
One Stop Homeowners Center |
0 |
$0.00 |
1 |
$2,400.00 |
1 |
$2,400.00 |
|
Unknown |
0 |
$0.00 |
1 |
$4,770.00 |
1 |
$4,770.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
2 |
$12,000.00 |
|
01/2008 06/2008 |
2 |
$7,170.00 |
|
|
Total FY2008 |
4 |
$19,170.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
1 |
$6,000.00 |
50.0% |
$47,742.36 |
$47,742.36 |
|
01/2008 06/2008 |
2 |
$7,170.00 |
100.0% |
$38,845.98 |
$38,845.98 |
|
|
Total FY2008 |
3 |
$13,170.00 |
75.0% |
$43,294.17 |
$43,294.17 |
|
|
Minority |
07/2007 12/2007 |
1 |
$6,000.00 |
50.0% |
$56,489.16 |
$56,489.16 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
1 |
$6,000.00 |
25.0% |
$56,489.16 |
$56,489.16 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
2 |
100.0% |
|
01/2008 06/2008 |
1 |
50.0% |
|
|
Total FY2008 |
3 |
75.0% |
|
|
Female |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
50.0% |
|
|
Total FY2008 |
1 |
25.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
2 |
100.0% |
|
|
Total FY2008 |
2 |
50.0% |
|
|
23 to 30 |
07/2007 12/2007 |
1 |
50.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
25.0% |
|
|
31 to 40 |
07/2007 12/2007 |
1 |
50.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
25.0% |
|
|
41 to 50 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Average Age |
07/2007 12/2007 |
31.0 |
|
|
01/2008 06/2008 |
21.5 |
||
|
Total FY2008 |
26.3 |
|
Average Household Size |
07/2007 12/2007 |
2.0 |
|
01/2008 06/2008 |
2.0 |
|
|
Total FY2008 |
2.0 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
4 |
$19,032.00 |
$4,758.00 |
57.1% |
|
01/2008 06/2008 |
1 |
$2,000.00 |
$2,000.00 |
20.0% |
|
Total FY2008 |
5 |
$21,032.00 |
$4,206.40 |
41.7% |
Loans by Homebuyer Counselor
|
7/1/07 - 12/31/07 |
1/1/08 - 6/30/08 |
TOTAL FY 2008 |
||||
|
HOMEBUYER COUNSELOR |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
NO. LOANS |
DOLLAR AMOUNT |
|
Credit Counseling of Arkansas |
1 |
$5,600.00 |
0 |
$0.00 |
1 |
$5,600.00 |
|
Family Service Agency |
1 |
$5,178.00 |
0 |
$0.00 |
1 |
$5,178.00 |
|
One Stop Homeowners Center |
2 |
$8,254.00 |
0 |
$0.00 |
2 |
$8,254.00 |
|
South Arkansas CD |
0 |
$0.00 |
1 |
$2,200.00 |
1 |
$2,200.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
4 |
$19,032.00 |
|
01/2008 06/2008 |
1 |
$2,200.00 |
|
|
Total FY2008 |
5 |
$21,232.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
3 |
$15,532.00 |
75.0% |
$22,445.52 |
$22,316.98 |
|
01/2008 06/2008 |
1 |
$2,200.00 |
100.0% |
$21,852.00 |
$22,084.49 |
|
|
Total FY2008 |
2 |
$17,732.00 |
80.0% |
$22,148.76 |
$22,084.49 |
|
|
Minority |
07/2007 12/2007 |
1 |
$3,500.00 |
25.0% |
$23,905.32 |
$23,905.32 |
|
01/2008 06/2008 |
0 |
$0.00 |
0.0% |
$0.00 |
$0.00 |
|
|
Total FY2008 |
1 |
$3,500.00 |
20.0% |
$23,905.32 |
$23,905.32 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
2 |
50.0% |
|
01/2008 06/2008 |
1 |
100.0% |
|
|
Total FY2008 |
3 |
60.0% |
|
|
Female |
07/2007 12/2007 |
2 |
50.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
40.0% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
1 |
25.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
20.0% |
|
|
23 to 30 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
100.0% |
|
|
Total FY2008 |
1 |
20.0% |
|
|
31 to 40 |
07/2007 12/2007 |
2 |
50.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
2 |
40.0% |
|
|
41 to 50 |
07/2007 12/2007 |
1 |
25.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
20.0% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
61 to 70 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Average Age |
07/2007 12/2007 |
32.3 |
|
|
01/2008 06/2008 |
25.0 |
||
|
Total FY2008 |
28.6 |
|
Average Household Size |
07/2007 12/2007 |
1.3 |
|
01/2008 06/2008 |
1.0 |
|
|
Total FY2008 |
1.2 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$687,998.00 |
$418,989.00 |
$1,106,987.00 |
|
HOUSING PRODUCTION (HP)
Program Partners:
HOME Allocations / Board Approvals by Type
|
Type |
Time Period |
No. Units |
HOME Funds |
|
Acquisition Rehab |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2007 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Homeowner Acquisition |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Homeowner New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Homeowner Rehab or Mortgage Subsidy |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
8 |
$173,053.00 |
|
|
Total FY2008 |
8 |
$173,053.00 |
|
|
Rental New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Rental Rehab |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Tenant Based Rental Assistance |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
55 |
$279,950.00 |
|
|
Total FY2008 |
55 |
$279,950.00 |
|
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
63 |
$453,003.00 |
|
|
Total FY2008 |
63 |
$453,003.00 |
|
|
Average Amount Per Unit |
07/2007 12/2007 |
$0.00 |
|
|
01/2008 6/2008 |
$7,190.52 |
||
|
Total FY2008 |
$7,190.52 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Multifamily Housing Bonds
No Multifamily Housing Bond Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$453,003.00 |
$453,003.00 |
|
DEVELOPMENT FINANCE
|
DEVELOPMENT FINANCE: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$0.00 |
$0.00 |
|
OTHER PROGRAM(S)
Rehab / Disability Loan Program
|
7/2007 - 12/2007 |
1/2008 - 6/2008 |
FY2008 TOTAL |
||||
|
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
No. Loans |
Dollar Amount |
Average Per Unit |
|
0 |
$0.00 |
0 |
$0.00 |
0 |
$0.00 |
$0.00 |
TOTAL FUNDS FOR
GARLAND
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$687,998.00 |
$872,992.00 |
$1,559,990.00 |
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