Eastern Bank Mortgage Lending & HMDA Data, 2022
In 2022, Eastern Bank of Boston, MA reported 8,221 mortgage applications totaling $3.1 billion, up 2% from 2021. The average application was for $380,978, and applicants reported an average income of $184,549. 61% of its applications resulted in an originated loan and 22% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (3,433), Boston, MA (2,726) and Barnstable Town, MA (452) (applications in parentheses).
| Mortgage Company & Address | Eastern Bank 125 High St Boston, MA 02110 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 |
| Total Number of Mortgage Applications | 8,221 |
| Total Mortgage Loan Application Amount | $3,132,025,000 |
| Average Mortgage Loan Application Amount | $380,978 |
| Highest Mortgage Loan Application Amount | $54,665,000 |
| Average Applicant Income | $184,549 |
| Highest Applicant Income | $9,817,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Eastern Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 3,433 | $ 1,179,175,000 | $ 343,482 | $ 182,000 |
| Boston, MA | 2,726 | $ 897,810,000 | $ 329,350 | $ 190,000 |
| Barnstable Town, MA | 452 | $ 107,420,000 | $ 237,654 | $ 187,000 |
| Providence-Warwick, RI-MA | 381 | $ 192,335,000 | $ 504,816 | $ 156,144 |
| Rockingham County-Strafford County, NH | 192 | $ 114,080,000 | $ 594,166 | $ 187,000 |
| Nassau County-Suffolk County, NY | 186 | $ 103,360,000 | $ 555,698 | $ 0 |
| Worcester, MA-CT | 149 | $ 66,115,000 | $ 443,724 | $ 161,718 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 148 | $ 124,770,000 | $ 843,040 | $ 0 |
| Manchester-Nashua, NH | 127 | $ 113,245,000 | $ 891,692 | $ 181,000 |
| Outside any metro area | 121 | $ 50,695,000 | $ 418,966 | $ 286,612 |
| New York-Newark, NY | 39 | $ 21,345,000 | $ 547,307 | $ 0 |
| Washington-Baltimore-Arlington, DC | 37 | $ 25,585,000 | $ 691,486 | $ 0 |
| New York-Jersey City-White Plains, NY-NJ | 33 | $ 18,115,000 | $ 548,939 | $ 0 |
| Norwich-New London, CT | 32 | $ 10,830,000 | $ 338,437 | $ 123,000 |
| Baltimore-Columbia-Towson, MD | 27 | $ 14,915,000 | $ 552,407 | $ 0 |
| Newark, NJ-PA | 23 | $ 14,255,000 | $ 619,782 | $ 0 |
| Springfield, MA | 22 | $ 4,460,000 | $ 202,727 | $ 205,000 |
| Wilmington, DE-MD-NJ | 10 | $ 4,780,000 | $ 478,000 | $ 0 |
| Charlotte-Concord-Gastonia, NC-SC | 7 | $ 4,725,000 | $ 675,000 | $ 0 |
| Hartford-West Hartford-East Hartford, CT | 7 | $ 2,635,000 | $ 376,428 | $ 196,000 |
| Portland-South Portland, ME | 7 | $ 11,425,000 | $ 1,632,142 | $ 0 |
| Richmond, VA | 6 | $ 4,000,000 | $ 666,666 | $ 0 |
| Charlottesville, VA | 5 | $ 3,455,000 | $ 691,000 | $ 0 |
| New Haven-Milford, CT | 5 | $ 1,525,000 | $ 305,000 | $ 289,000 |
| Salisbury, MD-DE | 5 | $ 2,745,000 | $ 549,000 | $ 0 |
| Montgomery County-Bucks County-Chester County, PA | 4 | $ 2,020,000 | $ 505,000 | $ 0 |
| Burlington-South Burlington, VT | 3 | $ 19,055,000 | $ 6,351,666 | $ 0 |
| Lynchburg, VA | 3 | $ 1,235,000 | $ 411,666 | $ 0 |
| Raleigh, NC | 3 | $ 1,645,000 | $ 548,333 | $ 0 |
| Roanoke, VA | 3 | $ 1,415,000 | $ 471,666 | $ 0 |
| Winchester, VA-WV | 3 | $ 1,435,000 | $ 478,333 | $ 0 |
| Bridgeport-Stamford-Norwalk, CT | 2 | $ 1,040,000 | $ 520,000 | $ 213,000 |
| Charleston-North Charleston, SC | 2 | $ 1,060,000 | $ 530,000 | $ 0 |
| Pittsburgh, PA | 2 | $ 1,890,000 | $ 945,000 | $ 0 |
| Pittsfield, MA | 2 | $ 400,000 | $ 200,000 | $ 109,000 |
| Trenton, NJ | 2 | $ 1,240,000 | $ 620,000 | $ 0 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 1,130,000 | $ 565,000 | $ 0 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 455,000 | $ 455,000 | $ 0 |
| Asheville, NC | 1 | $ 955,000 | $ 955,000 | $ 0 |
| Blacksburg-Christiansburg-Radford, VA | 1 | $ 355,000 | $ 355,000 | $ 0 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 1 | $ 405,000 | $ 405,000 | $ 0 |
| California-Lexington Park, MD | 1 | $ 425,000 | $ 425,000 | $ 0 |
| Camden, NJ | 1 | $ 455,000 | $ 455,000 | $ 0 |
| Chambersburg-Waynesboro, PA | 1 | $ 325,000 | $ 325,000 | $ 0 |
| Dover, DE | 1 | $ 395,000 | $ 395,000 | $ 0 |
| Goldsboro, NC | 1 | $ 465,000 | $ 465,000 | $ 0 |
| Syracuse, NY | 1 | $ 425,000 | $ 425,000 | $ 0 |
Mortgage Loan Application Detail Totals for Eastern Bank in 2022
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Improvement | 2,946 | $489,480,000 | $166,000 | $16,005,000 | $189,000 | $9,817,000 |
| Home Purchase | 1,890 | $1,239,770,000 | $655,000 | $45,005,000 | $175,000 | $1,893,000 |
| Refinancing | 1,662 | $502,450,000 | $302,000 | $9,505,000 | $186,000 | $5,635,000 |
| Other Purpose | 1,299 | $248,315,000 | $191,000 | $2,355,000 | $187,000 | $3,051,000 |
| Cash-out Refinancing | 424 | $652,010,000 | $1,537,000 | $54,665,000 | $183,000 | $1,996,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 5,387 | $1,333,805,000 | $247,000 | $3,305,000 | $194,000 | $9,817,000 |
| Not applicable | 823 | $1,287,955,000 | $1,564,000 | $54,665,000 | $0 | $0 |
| Hispanic | 535 | $118,115,000 | $220,000 | $965,000 | $127,000 | $723,000 |
| Not Provided | 467 | $107,285,000 | $229,000 | $1,785,000 | $210,000 | $2,277,000 |
| Black or African American | 431 | $100,035,000 | $232,000 | $1,155,000 | $122,000 | $1,290,000 |
| Asian | 392 | $138,020,000 | $352,000 | $1,865,000 | $192,000 | $2,949,000 |
| American Indian or Alaskan Native | 29 | $5,425,000 | $187,000 | $885,000 | $139,000 | $336,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $2,155,000 | $431,000 | $1,505,000 | $170,000 | $576,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 8,167 | $3,108,915,000 | $380,000 | $54,665,000 | $186,000 | $9,817,000 |
| FHA-insured (Federal Housing Administration) | 51 | $21,605,000 | $423,000 | $815,000 | $117,000 | $260,000 |
| VA-guaranteed (Veterans Administration) | 2 | $1,250,000 | $625,000 | $655,000 | $115,000 | $117,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $255,000 | $255,000 | $255,000 | $60,000 | $60,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 5,047 | $2,099,055,000 | $415,000 | $54,665,000 | $204,000 | $9,817,000 |
| Application Denied By Financial Institution | 1,784 | $412,520,000 | $231,000 | $3,005,000 | $136,000 | $5,635,000 |
| Loan Purchased By The Institution | 631 | $371,155,000 | $588,000 | $1,865,000 | $0 | $0 |
| Application Approved But Not Accepted | 432 | $102,440,000 | $237,000 | $12,375,000 | $190,000 | $1,500,000 |
| Application Withdrawn By Applicant | 278 | $121,110,000 | $435,000 | $28,205,000 | $163,000 | $954,000 |
| File Closed For Incompleteness | 49 | $25,745,000 | $525,000 | $1,515,000 | $206,000 | $1,020,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 6,437 | $2,719,505,000 | $422,000 | $54,665,000 | $201,000 | $9,817,000 |
| Debt-To-Income Ratio | 662 | $193,000,000 | $291,000 | $3,005,000 | $90,000 | $664,000 |
| Collateral | 529 | $117,315,000 | $221,000 | $1,605,000 | $176,000 | $2,687,000 |
| Credit History | 485 | $75,425,000 | $155,000 | $2,005,000 | $130,000 | $1,067,000 |
| Other | 85 | $18,645,000 | $219,000 | $1,365,000 | $275,000 | $5,635,000 |
| Unverifiable Information | 10 | $3,770,000 | $377,000 | $665,000 | $144,000 | $500,000 |
| Employment History | 10 | $3,390,000 | $339,000 | $2,005,000 | $112,000 | $112,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $975,000 | $325,000 | $455,000 | $77,000 | $174,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Eastern Bank's 2022 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Eastern Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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