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
SEBASTIAN
Countyin Congressional District
3HOMEOWNERSHIP
Home-to-Own (H2O)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
Median Loan Amount |
|
07/2007 12/2007 |
87 |
$6,814,604.00 |
$78,328.78 |
$78,383.00 |
|
01/2008 06/2008 |
81 |
$6,274,484.00 |
$77,462.77 |
$76,825.00 |
|
Total FY2008 |
168 |
$13,089,088.00 |
$77,911.23 |
$76,604.00 |
Loan Cancellation Rate
Total FY2008:|
07/2007 12/2007 |
5 (5.4%) |
|
01/2008 06/2008 |
18 (18.2) |
|
FY2008 Total |
23 (12.0%) |
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 |
|
Arvest Mortgage Company, Lowell, AR |
14 |
$1,242,057.00 |
14 |
$1,108,598.00 |
28 |
$2,350,655.00 |
|
BancorpSouth, Fort Smith, AR |
13 |
$898,058.00 |
13 |
$869,125.00 |
26 |
$1,767,183.00 |
|
Benefit Bank, Fort Smith, AR |
43 |
$3,233,907.00 |
38 |
$3,003,691.00 |
81 |
$6,237,598.00 |
|
First Arkansas Western Mortgage, Fort Smith, AR |
5 |
$377,350.00 |
1 |
$87,132.00 |
6 |
$464,482.00 |
|
First Financial Bank, Fort Smith, AR |
4 |
$405,350.00 |
4 |
$360,450.00 |
8 |
$765,800.00 |
|
Liberty Bank, Russellville, AR |
6 |
$545,815.00 |
2 |
$161,579.00 |
8 |
$707,394.00 |
|
Regions Mortgage, Little Rock, AR |
0 |
$0.00 |
4 |
$308,201.00 |
4 |
$308,201.00 |
|
Simmons First Mortgage, Fort Smith, AR |
2 |
$112,067.00 |
5 |
$375,708.00 |
7 |
$487,775.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
78 |
$5,831,687.00 |
|
01/2008 06/2008 |
77 |
$5,782,409.00 |
|
|
Total FY2008 |
155 |
$11,614,096.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
9 |
$982,917.00 |
|
01/2008 06/2008 |
4 |
$492,075.00 |
|
|
Total FY2008 |
13 |
$1,474,992.00 |
Loans by Loan Type
|
Loan Type |
Time Period |
No. Loans |
Dollar Amount |
|
FHA |
07/2007 12/2007 |
70 |
$5,364,695.00 |
|
01/2008 06/2008 |
63 |
$4,692,358.00 |
|
|
Total FY2008 |
133 |
$10,057,053.00 |
|
|
VA |
07/2007 12/2007 |
2 |
$144,410.00 |
|
01/2008 - 06/2008 |
2 |
$161,605.00 |
|
|
Total FY2008 |
4 |
$306,015.00 |
|
|
Conventional |
07/2007 12/2007 |
9 |
$714,704.00 |
|
01/2008 06/2008 |
6 |
$306,015.00 |
|
|
Total FY2008 |
15 |
$1,012,719.00 |
|
|
Rural Development |
07/2007 12/2007 |
6 |
$590,795.00 |
|
01/2008 06/2008 |
10 |
$974,041.00 |
|
|
Total FY2008 |
16 |
$1,564,836.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
69 |
$5,526,543.00 |
79.3% |
$32,647.02 |
$32,940.96 |
|
01/2008 06/2008 |
69 |
$5,454,206.00 |
85.1% |
$34,701.02 |
$34,176.00 |
|
|
Total FY2008 |
138 |
$10,980,749.00 |
82.1% |
$33,674.02 |
$33,558.48 |
|
|
Minority |
07/2007 12/2007 |
18 |
$1,288,061.00 |
20.7% |
$26,659.18 |
$25,701.06 |
|
01/2008 06/2008 |
12 |
$820,278.00 |
14.8% |
$33,235.17 |
$34,398.20 |
|
|
Total FY2008 |
30 |
$2,108,339.00 |
17.9% |
$29,947.18 |
$30,049.63 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
57 |
65.5% |
|
01/2008 06/2008 |
48 |
59.3% |
|
|
Total FY2008 |
105 |
62.5% |
|
|
Female |
07/2007 12/2007 |
30 |
34.5% |
|
01/2008 06/2008 |
31 |
38.3% |
|
|
Total FY2008 |
61 |
36.3% |
|
|
Unknown |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
2 |
2.4% |
|
|
Total FY2008 |
2 |
1.2% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
10 |
11.5% |
|
01/2008 06/2008 |
14 |
17.3% |
|
|
Total FY2008 |
24 |
14.3% |
|
|
23 to 30 |
07/2007 - 12/2007 |
36 |
41.3% |
|
01/2008 06/2008 |
33 |
40.7% |
|
|
Total FY2008 |
69 |
41.1% |
|
|
31 to 40 |
07/2007 12/2007 |
13 |
14.9% |
|
01/2008 06/2008 |
18 |
22.2% |
|
|
Total FY2008 |
31 |
18.5% |
|
|
41 to 50 |
07/2007 12/2007 |
16 |
18.3% |
|
01/2008 06/2008 |
9 |
11.1% |
|
|
Total FY2008 |
25 |
14.9% |
|
|
51 to 60 |
07/2007 12/2007 |
6 |
6.9% |
|
01/2008 06/2008 |
6 |
7.4% |
|
|
Total FY2008 |
12 |
7.1% |
|
|
61 to 70 |
07/2007 12/2007 |
4 |
4.6% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
4 |
2.4% |
|
|
71+ |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
0 |
0.0% |
|
|
Unknown |
07/2007 12/2007 |
2 |
2.3% |
|
01/2008 06/2008 |
1 |
1.2% |
|
|
Total FY2008 |
3 |
1.8% |
|
|
Average Age |
07/2007 12/2007 |
33.2 |
|
|
01/2008 06/2008 |
31.8 |
||
|
Total FY2008 |
32.5 |
|
Average Household Size |
07/2007 12/2007 |
2.3 |
|
01/2008 06/2008 |
2.5 |
|
|
Total FY2008 |
2.4 |
Down Payment Assistance Program (DPA)
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
35 |
$143,730.00 |
$4,106.57 |
40.2% |
|
01/2008 06/2008 |
33 |
$136,783.00 |
$4,144.94 |
40.7% |
|
Total FY2008 |
68 |
$280,513.00 |
$4,125.19 |
40.5% |
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 |
|
Community Resources Technicians |
0 |
$0.00 |
1 |
$4,487.00 |
1 |
$4,487.00 |
|
Crawford Sebastian CDC |
34 |
$139,583.00 |
29 |
$119,296.00 |
63 |
$258,879.00 |
|
EOA of Washington County |
0 |
$0.00 |
1 |
$5,000.00 |
1 |
$5,000.00 |
|
Unknown |
1 |
$4,147.00 |
2 |
$8,000.00 |
3 |
$12,147.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
32 |
$133,226.00 |
|
01/2008 06/2008 |
31 |
$129,733.00 |
|
|
Total FY2008 |
63 |
$262,959.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
3 |
$10,504.00 |
|
01/2008 06/2008 |
2 |
$7,050.00 |
|
|
Total FY2008 |
5 |
$17,554.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
32 |
$134,285.00 |
91.4% |
$37,880.94 |
$37,594.02 |
|
01/2008 06/2008 |
31 |
$129,245.99 |
93.9% |
$39,456.85 |
$37,440.00 |
|
|
Total FY2008 |
63 |
$263,530.00 |
92.7% |
$38,688.90 |
$37,517.01 |
|
|
Minority |
07/2007 12/2007 |
3 |
$9,445.00 |
8.6% |
$42,209.08 |
$42,598.92 |
|
01/2008 06/2008 |
2 |
$7,538.00 |
6.1% |
$44,760.00 |
$44,760.00 |
|
|
Total FY2008 |
5 |
$16,983.00 |
7.3% |
$43,484.54 |
$43,679.46 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
25 |
71.4% |
|
01/2008 06/2008 |
22 |
66.7% |
|
|
Total FY2008 |
47 |
69.1% |
|
|
Female |
07/2007 12/2007 |
10 |
28.6% |
|
01/2008 06/2008 |
10 |
30.3% |
|
|
Total FY2008 |
20 |
29.4% |
|
|
Unknown |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
3.0% |
|
|
Total FY2008 |
1 |
1.5% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
4 |
11.4% |
|
01/2008 06/2008 |
6 |
18.2% |
|
|
Total FY2008 |
10 |
14.7% |
|
|
23 to 30 |
07/2007 12/2007 |
19 |
54.3% |
|
01/2008 06/2008 |
17 |
51.5% |
|
|
Total FY2008 |
36 |
52.9% |
|
|
31 to 40 |
07/2007 12/2007 |
4 |
11.4% |
|
01/2008 06/2008 |
6 |
18.2% |
|
|
Total FY2008 |
10 |
14.7% |
|
|
41 to 50 |
07/2007 12/2007 |
6 |
17.1% |
|
01/2008 06/2008 |
2 |
6.1% |
|
|
Total FY2008 |
8 |
11.8% |
|
|
51 to 60 |
07/2007 12/2007 |
1 |
2.9% |
|
01/2008 06/2008 |
2 |
6.1% |
|
|
Total FY2008 |
3 |
4.4% |
|
|
61 to 70 |
07/2007 12/2007 |
1 |
2.9% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
1.5% |
|
|
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 |
30.9 |
|
|
01/2008 06/2008 |
30.0 |
||
|
Total FY2008 |
30.4 |
|
Average Household Size |
07/2007 12/2007 |
2.2 |
|
01/2008 06/2008 |
2.3 |
|
|
Total FY2008 |
2.3 |
American Dream Downpayment Initiative (ADDI) Program
General Statistics
|
Time Period |
No. Loans |
Dollar Amount |
Mean Loan Amount |
% of H2O Loans |
|
07/2007 12/2007 |
11 |
$67,598.00 |
$6,145.27 |
12.6% |
|
01/2008 06/2008 |
5 |
$25,027.00 |
$5,005.40 |
6.1% |
|
Total FY2008 |
16 |
$92,625.00 |
$5,789.06 |
9.5% |
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 |
|
Crawford Sebastian CDC |
10 |
$63,409.00 |
4 |
$21,004.00 |
14 |
$84,413.00 |
|
Universal Housing |
0 |
$0.00 |
1 |
$4,023.00 |
1 |
$4,203.00 |
|
Unknown |
1 |
$4,189.00 |
0 |
$0.00 |
1 |
$4,189.00 |
Loans by New / Existing
|
New / Existing |
Time Period |
No. Loans |
Dollar Amount |
|
Existing Construction |
07/2007 12/2007 |
6 |
$36,418.00 |
|
01/2008 06/2008 |
5 |
$25,027.00 |
|
|
Total FY2008 |
11 |
$61,445.00 |
|
|
New or Proposed Construction |
07/2007 12/2007 |
5 |
$31,180.00 |
|
01/2008 06/2008 |
0 |
$0.00 |
|
|
Total FY2008 |
5 |
$31,180.00 |
Borrowers Profile
|
Ethnicity |
Time Period |
No. Loans |
Dollar Amount |
Percent |
Mean Income |
Median Income |
|
Non-Minority |
07/2007 12/2007 |
5 |
$30,970.00 |
45.4% |
$26,550.07 |
$29,016.00 |
|
01/2008 06/2008 |
4 |
$19,138.00 |
80.0% |
$22,400.04 |
$22,324.08 |
|
|
Total FY2008 |
9 |
$50,108.00 |
56.2% |
$24,475.06 |
$25,670.04 |
|
|
Minority |
07/2007 12/2007 |
6 |
$36,628.00 |
54.6% |
$32,748.24 |
$34,297.20 |
|
01/2008 06/2008 |
1 |
$5,889.00 |
20.0% |
$22,344.00 |
$22,344.00 |
|
|
Total FY2008 |
7 |
$42,517.00 |
43.8% |
$27,546.12 |
$28,320.60 |
|
Gender of Head of Household |
Time Period |
No. Loans |
Percent |
|
Male |
07/2007 12/2007 |
7 |
63.6% |
|
01/2008 06/2008 |
4 |
80.0% |
|
|
Total FY2008 |
11 |
68.8% |
|
|
Female |
07/2007 12/2007 |
3 |
27.3% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
4 |
25.0% |
|
|
Unknown |
07/2007 12/2007 |
1 |
9.1% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
1 |
6.2% |
|
Age of Head of Household |
Time Period |
No. Loans |
Percent |
|
18 to 22 |
07/2007 12/2007 |
2 |
18.2% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
3 |
18.8% |
|
|
23 to 30 |
07/2007 12/2007 |
3 |
27.3% |
|
01/2008 06/2008 |
2 |
40.0% |
|
|
Total FY2008 |
5 |
31.3% |
|
|
31 to 40 |
07/2007 12/2007 |
4 |
36.4% |
|
01/2008 06/2008 |
0 |
0.0% |
|
|
Total FY2008 |
4 |
25.0% |
|
|
41 to 50 |
07/2007 12/2007 |
2 |
18.2% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
3 |
18.8% |
|
|
51 to 60 |
07/2007 12/2007 |
0 |
0.0% |
|
01/2008 06/2008 |
1 |
20.0% |
|
|
Total FY2008 |
1 |
6.2% |
|
|
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 |
32.2 |
|
|
01/2008 06/2008 |
36.6 |
||
|
Total FY2008 |
34.4 |
|
Average Household Size |
07/2007 12/2007 |
3.6 |
|
01/2008 06/2008 |
2.0 |
|
|
Total FY2008 |
2.8 |
|
TOTAL HOMEOWNERSHIP: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$7,025,932.00 |
$6,436,294.00 |
$13,462,226.00 |
|
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 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Rental New Construction |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
11 |
$400,000.00 |
|
|
Total FY2008 |
11 |
$400,000.00 |
|
|
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 |
0 |
$0.00 |
|
|
Total FY2008 |
0 |
$0.00 |
|
|
Total |
07/2007 12/2007 |
0 |
$0.00 |
|
01/2008 06/2008 |
11 |
$400,000.00 |
|
|
Total FY2008 |
11 |
$400,000.00 |
|
|
Average Amount Per Unit |
07/2007 12/2007 |
$0.00 |
|
|
01/2008 6/2008 |
$36,363.64 |
||
|
Total FY2008 |
$36,363.64 |
Low Income Housing Tax Credits / Board Approvals (only one round per fiscal year)
|
No. Units |
Federal LIHTC |
State LIHTC |
Total LIHTC |
Average Per Unit |
|
45 |
$400,000.00 |
$0.00 |
$400,000.00 |
$8,888.89 |
Multifamily Housing Bonds
No Multifamily Housing Bond Program Activity FY2008
|
TOTAL HOUSING PRODUCTION: |
|||
|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
|
$0.00 |
$800,000.00 |
$800,000.00 |
|
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
SEBASTIAN
COUNTY|
07/2007 12/2007 |
01/2008 06/2008 |
Total FY2008 |
|
$7,025,932.00 |
$7,236,294.00 |
$14,262,226.00 |
Back to Congressional District 3 / Back to Statewide Statistics / Home Page