ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2005: July 1, 2004 – June 30, 2005
SEBASTIAN COUNTYPart of Congressional District 3 |
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
124 |
$9,257,768.00 |
$74,659.42 |
$75,318.00 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
Arvest Mortgage Company, Lowell, AR |
19 |
$1,333,316.00 |
|
BancorpSouth, Fort Smith, AR |
17 |
$1,040,873.00 |
|
BancorpSouth, Van Buren, AR |
2 |
$129,535.00 |
|
Benefit Bank, Fort Smith, AR |
75 |
$6,028,751.00 |
|
Farmers Bank, Greenwood, AR |
2 |
$137,000.00 |
|
NARDIC, Fort Smith, AR |
4 |
$258,140.00 |
|
Regions Mortgage, Inc., Little Rock, AR |
2 |
$123,028.00 |
|
Simmons First Mortgage, Fort Smith, AR |
2 |
$125,900.00 |
|
Simmons First Mortgage, Springdale, AR |
1 |
$81,225.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
76 |
$4,936,167.00 |
|
New or Proposed Construction |
48 |
$4,321,601.00 |
Loans by Loan Type
|
Loan Type |
No. Loans |
Dollar Amount |
|
FHA |
93 |
$6,521,591.00 |
|
VA |
3 |
$223,008.00 |
|
Conventional |
0 |
$0.00 |
|
Rural Development |
28 |
$2,513,169.00 |
|
Uninsured |
0 |
$0.00 |
|
Other |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
75 |
$5,897,241.00 |
60.5% |
|
Minorities |
49 |
$3,360,527.00 |
39.5% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$31,117.73 |
$30,108.00 |
|
Minorities |
$31,495.57 |
$31,140.00 |
|
Average Household Size: |
2.4 |
|
|
|
|
Loan Cancellation Rate: |
24.8% |
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
42 |
$108,447.00 |
$2,582.07 |
33.9% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR |
40 |
$104,615.00 |
|
Family Service Agency, Little Rock, AR |
1 |
$1,569.00 |
|
Universal Housing Development Corporation, Russellville, AR |
1 |
$2,263.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
40 |
$102,697.00 |
|
New or Proposed Construction |
2 |
$5,750.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
23 |
$59,420.00 |
54.7% |
|
Minorities |
19 |
$49,027.00 |
45.2% |
|
Loan Cancellation Rate: |
27.6% |
ADDI LOAN PROGRAM
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
4 |
$12,191.00 |
$3,047.75 |
3.2% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
4 |
$12,191.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
4 |
$12,191.00 |
|
New or Proposed Construction |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
2 |
$6,891.00 |
50.0% |
|
Minorities |
2 |
$5,300.00 |
50.0% |
|
Loan Cancellation Rate: |
42.9% |
|
TOTAL HOMEOWNERSHIP: |
$9,378,406.00 |
Total Economic Impact
|
Local Jobs Supported |
151 |
|
Local Business Owners’ Income |
$1,256,640.00 |
|
Local Wages & Salaries |
$5,651,040.00 |
|
Local Government Revenue |
$891,360.00 |
|
|
|
|
TOTAL MONETARY IMPACT |
$7,799,040.00 |
Program Statistics
HOME Allocations / Board Approvals FY 2005
|
|
No. Units |
HOME Funds |
|
Rental New Construction |
10 |
$400,000.00 |
|
Rental Rehab |
0 |
$0.00 |
|
Homeowner New Construction |
0 |
$0.00 |
|
Homeowner Rehab or Mortgage Subsidy |
26 |
$315,000.00 |
|
Tenant Based Rental Assistance |
0 |
$0.00 |
|
Acq / Rehab |
0 |
$0.00 |
|
TOTAL |
36 |
$715,000.00 |
|
Average Amount per Unit |
|
$19,861.11 |
Low-Income Housing Tax Credits / Board Approvals FY 2005
|
|
No. Units |
Federal LIHTC |
State LIHTC |
Total Funds |
Average Per Unit |
|
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
|
New Const. |
44 |
$400,000.00 |
$0.00 |
$400,000.00 |
$9,090.91 |
|
|
|
|
|
|
|
|
Total |
44 |
$400,000.00 |
$0.00 |
$400,000.00 |
$9,090.91 |
Multifamily Housing Bonds
|
|
No. Units |
Dollar Amount |
Average per Unit |
|
0 |
$0.00 |
$0.00 |
|
|
New Const. |
0 |
$0.00 |
$0.00 |
|
|
|
|
|
|
Total |
0 |
$0.00 |
$0.00 |
|
TOTAL HOUSING PRODUCTION: |
$1,115,000.00 |
Total Economic Impact
|
Local Jobs Supported |
86 |
|
Local Business Owners’ Income |
$794,880.00 |
|
Local Wages & Salaries |
$3,247,560.00 |
|
Local Government Revenue |
$547,560.00 |
|
|
|
|
TOTAL MONETARY IMPACT |
$4,590,000.00 |
Program Statistics
|
Program |
No. Projects |
Project Amount |
Average Project Amount |
|
ADFA Bond Guaranty |
0 |
$0.00 |
$0.00 |
|
AEDC/Other Bond Guaranty |
0 |
$0.00 |
$0.00 |
|
Higher Education Facilities |
0 |
$0.00 |
$0.00 |
|
Wastewater Revolving Loan |
0 |
$0.00 |
$0.00 |
|
Safe Drinking Water Revolving Loan |
0 |
$0.00 |
$0.00 |
|
Bond Guaranty Reserve Fund |
0 |
$0.00 |
$0.00 |
|
Capital Access Program |
0 |
$0.00 |
$0.00 |
|
State Facilities Finance |
0 |
$0.00 |
$0.00 |
|
Interim Loans with other Agencies |
0 |
$0.00 |
$0.00 |
|
Special Projects Fund |
0 |
$0.00 |
$0.00 |
|
Taxable Industrial Revenue Bonds |
0 |
$0.00 |
$0.00 |
|
TOTAL DEVELOPMENT FINANCE: |
$0.00 |
TOTAL FUNDS FOR SEBASTIAN CNTY FY 2005
$10,493,406.00
Distribution of these total funds
|
|
|
% Change from Previous Year |
|
Homeownership |
$9,378,406.00 |
-5.8% |
|
Housing Production |
$1,115,000.00 |
+42.4% |
|
Development Finance |
$0.00 |
0.0% |
|
Overall |
$10,493,406.00 |
-1.0% |