Saco & Biddeford Savings Institution Mortgage Lending & HMDA Data, 2021
In 2021, Saco & Biddeford Savings Institution of Saco, ME reported 701 mortgage applications totaling $287.4 million, down 20% from 2020. The average application was for $410,007, and applicants reported an average income of $202,833. 64% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Portland-South Portland, ME (622) and Lewiston-Auburn, ME (2).
| 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 | 701 |
| Total Mortgage Loan Application Amount | $287,415,000 |
| Average Mortgage Loan Application Amount | $410,007 |
| Highest Mortgage Loan Application Amount | $5,955,000 |
| Average Applicant Income | $202,833 |
| Highest Applicant Income | $3,516,000 |
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Saco & Biddeford Savings Institution filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2021
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 | 358 | $166,760,000 | $465,000 | $5,955,000 | $228,000 | $3,300,000 |
| Refinancing | 313 | $111,175,000 | $355,000 | $3,805,000 | $174,000 | $3,516,000 |
| Other Purpose | 23 | $8,575,000 | $372,000 | $2,005,000 | $222,000 | $1,152,000 |
| Home Improvement | 7 | $905,000 | $129,000 | $265,000 | $142,000 | $360,000 |
| 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 | $222,635,000 | $391,000 | $2,855,000 | $196,000 | $3,516,000 |
| Not Provided | 99 | $41,375,000 | $417,000 | $1,325,000 | $217,000 | $1,829,000 |
| Not applicable | 12 | $10,940,000 | $911,000 | $3,805,000 | $0 | $0 |
| Asian | 7 | $2,335,000 | $333,000 | $415,000 | $83,000 | $114,000 |
| Black or African American | 5 | $945,000 | $189,000 | $325,000 | $73,000 | $102,000 |
| American Indian or Alaskan Native | 3 | $6,295,000 | $2,098,000 | $5,955,000 | $1,158,000 | $3,300,000 |
| Hispanic | 2 | $1,050,000 | $525,000 | $625,000 | $308,000 | $332,000 |
| 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) | 701 | $287,415,000 | $410,000 | $5,955,000 | $203,000 | $3,516,000 |
| 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 | 450 | $195,900,000 | $435,000 | $5,955,000 | $217,000 | $3,300,000 |
| Application Withdrawn By Applicant | 92 | $32,580,000 | $354,000 | $1,335,000 | $204,000 | $1,565,000 |
| Application Denied By Financial Institution | 55 | $20,195,000 | $367,000 | $2,855,000 | $120,000 | $430,000 |
| Preapproval Approved but not Accepted | 47 | $17,295,000 | $367,000 | $2,005,000 | $155,000 | $655,000 |
| File Closed For Incompleteness | 37 | $15,635,000 | $422,000 | $1,505,000 | $242,000 | $3,516,000 |
| Preapproval Denied by Financial Institution | 17 | $4,465,000 | $262,000 | $475,000 | $76,000 | $216,000 |
| Application Approved But Not Accepted | 3 | $1,345,000 | $448,000 | $1,105,000 | $283,000 | $780,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 629 | $262,755,000 | $417,000 | $5,955,000 | $212,000 | $3,516,000 |
| Debt-To-Income Ratio | 27 | $9,755,000 | $361,000 | $2,855,000 | $66,000 | $177,000 |
| Credit History | 19 | $6,485,000 | $341,000 | $1,465,000 | $102,000 | $297,000 |
| Other | 14 | $6,190,000 | $442,000 | $1,035,000 | $197,000 | $430,000 |
| Collateral | 11 | $2,115,000 | $192,000 | $525,000 | $179,000 | $324,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $115,000 | $115,000 | $115,000 | $51,000 | $51,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Saco & Biddeford Savings Institution's 2021 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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