Saco & Biddeford Savings Institution Mortgage Lending & HMDA Data, 2019
In 2019, Saco & Biddeford Savings Institution of Saco, ME reported 690 mortgage applications totaling $236.2 million, up 5% from 2018. The average application was for $342,260, and applicants reported an average income of $170,066. 60% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Portland-South Portland, ME (602), Lewiston-Auburn, ME (4) and Cambridge-Newton-Framingham, MA (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 | 690 |
| Total Mortgage Loan Application Amount | $236,160,000 |
| Average Mortgage Loan Application Amount | $342,260 |
| Highest Mortgage Loan Application Amount | $1,605,000 |
| Average Applicant Income | $170,066 |
| Highest Applicant Income | $1,247,000 |
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Saco & Biddeford Savings Institution filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2019
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 | 481 | $172,715,000 | $359,000 | $1,605,000 | $180,000 | $1,043,000 |
| Refinancing | 172 | $56,650,000 | $329,000 | $1,505,000 | $152,000 | $1,247,000 |
| Home Improvement | 20 | $3,410,000 | $170,000 | $715,000 | $158,000 | $987,000 |
| Other Purpose | 17 | $3,385,000 | $199,000 | $625,000 | $86,000 | $185,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 569 | $190,045,000 | $333,000 | $1,505,000 | $168,000 | $1,247,000 |
| Not Provided | 82 | $30,900,000 | $376,000 | $1,605,000 | $183,000 | $887,000 |
| Asian | 17 | $5,505,000 | $323,000 | $725,000 | $196,000 | $530,000 |
| Not applicable | 15 | $7,865,000 | $524,000 | $1,405,000 | $0 | $0 |
| American Indian or Alaskan Native | 2 | $320,000 | $160,000 | $175,000 | $73,000 | $103,000 |
| Black or African American | 2 | $580,000 | $290,000 | $345,000 | $72,000 | $100,000 |
| Hispanic | 2 | $670,000 | $335,000 | $635,000 | $117,000 | $199,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $275,000 | $275,000 | $275,000 | $200,000 | $200,000 |
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) | 690 | $236,160,000 | $342,000 | $1,605,000 | $170,000 | $1,247,000 |
| 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 | 415 | $146,125,000 | $352,000 | $1,605,000 | $190,000 | $1,043,000 |
| Application Withdrawn By Applicant | 100 | $34,630,000 | $346,000 | $1,305,000 | $167,000 | $598,000 |
| Application Denied By Financial Institution | 93 | $30,675,000 | $329,000 | $1,505,000 | $126,000 | $1,247,000 |
| Preapproval Approved but not Accepted | 43 | $11,965,000 | $278,000 | $575,000 | $114,000 | $330,000 |
| Preapproval Denied by Financial Institution | 20 | $4,660,000 | $233,000 | $455,000 | $80,000 | $284,000 |
| File Closed For Incompleteness | 14 | $6,310,000 | $450,000 | $1,405,000 | $221,000 | $887,000 |
| Application Approved But Not Accepted | 5 | $1,795,000 | $359,000 | $535,000 | $140,000 | $258,000 |
| Loan Purchased By The 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 690 | $236,160,000 | $342,000 | $1,605,000 | $170,000 | $1,247,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Saco & Biddeford Savings Institution's 2019 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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