Saco & Biddeford Savings Institution Mortgage Lending & HMDA Data, 2017
In 2017, Saco & Biddeford Savings Institution of Saco, ME reported 631 mortgage applications totaling $216.8 million, down 5% from 2016. The average application was for $343,530, and applicants reported an average income of $164,050. 75% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Portland-South Portland, ME (595), Cambridge-Newton-Framingham, MA (1) and Lewiston-Auburn, ME (1) (applications in parentheses).
| Mortgage Company & Address | Saco & Biddeford Savings Institution 50 Industrial Park Road Saco, ME 04072 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 631 |
| Total Mortgage Loan Application Amount | $216,768,000 |
| Average Mortgage Loan Application Amount | $343,530 |
| Highest Mortgage Loan Application Amount | $5,220,000 |
| Average Applicant Income | $164,050 |
| Highest Applicant Income | $1,559,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Saco & Biddeford Savings Institution filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Saco & Biddeford Savings Institution in 2017
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 Purchase | 459 | $152,295,000 | $331,000 | $2,330,000 | $168,000 | $1,559,000 |
| Refinancing | 118 | $41,347,000 | $350,000 | $2,100,000 | $151,000 | $1,430,000 |
| Home Improvement | 54 | $23,126,000 | $428,000 | $5,220,000 | $159,000 | $1,426,000 |
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 | 491 | $164,625,000 | $335,000 | $3,960,000 | $163,000 | $1,430,000 |
| Not Provided | 95 | $31,756,000 | $334,000 | $2,330,000 | $209,000 | $1,559,000 |
| Not applicable | 24 | $14,175,000 | $590,000 | $5,220,000 | $0 | $0 |
| Asian | 11 | $2,619,000 | $238,000 | $664,000 | $166,000 | $595,000 |
| Hispanic | 5 | $2,513,000 | $502,000 | $940,000 | $263,000 | $428,000 |
| Black or African American | 3 | $563,000 | $187,000 | $232,000 | $121,000 | $217,000 |
| American Indian or Alaskan Native | 2 | $517,000 | $258,000 | $392,000 | $117,000 | $210,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 631 | $216,768,000 | $343,000 | $5,220,000 | $164,000 | $1,559,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 473 | $170,057,000 | $359,000 | $5,220,000 | $178,000 | $1,559,000 |
| Application Withdrawn By Applicant | 66 | $19,307,000 | $292,000 | $2,000,000 | $143,000 | $1,430,000 |
| Application Denied By Financial Institution | 52 | $17,361,000 | $333,000 | $3,960,000 | $116,000 | $1,426,000 |
| Preapproval Denied by Financial Institution | 17 | $3,662,000 | $215,000 | $650,000 | $77,000 | $210,000 |
| Application Approved But Not Accepted | 13 | $4,220,000 | $324,000 | $1,080,000 | $147,000 | $414,000 |
| File Closed For Incompleteness | 10 | $2,161,000 | $216,000 | $645,000 | $96,000 | $450,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 23 | $6,119,000 | $266,000 | $700,000 | $78,000 | $205,000 |
| Debt-To-Income Ratio | 22 | $4,867,000 | $221,000 | $650,000 | $60,000 | $210,000 |
| Collateral | 14 | $7,261,000 | $518,000 | $3,960,000 | $210,000 | $1,426,000 |
| Other | 4 | $1,155,000 | $288,000 | $400,000 | $140,000 | $165,000 |
| Unverifiable Information | 3 | $1,200,000 | $400,000 | $675,000 | $118,000 | $200,000 |
| Employment History | 2 | $81,000 | $40,000 | $80,000 | $91,000 | $128,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $340,000 | $340,000 | $340,000 | $169,000 | $169,000 |
| 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 Saco & Biddeford Savings Institution's 2017 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 Saco & Biddeford Savings Institution'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 Maine, download the full spreadsheet
with aggregated HMDA statistics today.
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