Saco & Biddeford Savings Institution Mortgage Lending & HMDA Data, 2022
In 2022, Saco & Biddeford Savings Institution of Saco, ME reported 318 mortgage applications totaling $151.0 million, down 55% from 2021. The average application was for $474,905, and applicants reported an average income of $237,150. 93% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Portland-South Portland, ME (304), Lewiston-Auburn, ME (3) and Bangor, 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 | 318 |
| Total Mortgage Loan Application Amount | $151,020,000 |
| Average Mortgage Loan Application Amount | $474,905 |
| Highest Mortgage Loan Application Amount | $3,305,000 |
| Average Applicant Income | $237,150 |
| Highest Applicant Income | $1,621,000 |
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Saco & Biddeford Savings Institution filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 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 Purchase | 218 | $117,960,000 | $541,000 | $3,305,000 | $269,000 | $1,621,000 |
| Refinancing | 71 | $26,905,000 | $378,000 | $3,265,000 | $167,000 | $1,427,000 |
| Home Improvement | 15 | $2,615,000 | $174,000 | $505,000 | $113,000 | $327,000 |
| Other Purpose | 14 | $3,540,000 | $252,000 | $455,000 | $230,000 | $1,279,000 |
| 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 | 250 | $117,670,000 | $470,000 | $3,305,000 | $236,000 | $1,621,000 |
| Not Provided | 33 | $15,465,000 | $468,000 | $2,205,000 | $253,000 | $1,279,000 |
| Not applicable | 25 | $12,865,000 | $514,000 | $2,735,000 | $0 | $0 |
| Hispanic | 6 | $3,040,000 | $506,000 | $1,125,000 | $245,000 | $700,000 |
| Asian | 2 | $1,610,000 | $805,000 | $1,245,000 | $246,000 | $333,000 |
| American Indian or Alaskan Native | 1 | $155,000 | $155,000 | $155,000 | $286,000 | $286,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 318 | $151,020,000 | $474,000 | $3,305,000 | $238,000 | $1,621,000 |
| 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 | 296 | $141,120,000 | $476,000 | $3,305,000 | $243,000 | $1,621,000 |
| Application Denied By Financial Institution | 11 | $3,845,000 | $349,000 | $705,000 | $80,000 | $103,000 |
| Application Approved But Not Accepted | 3 | $3,765,000 | $1,255,000 | $2,735,000 | $0 | $0 |
| Preapproval Denied by Financial Institution | 3 | $285,000 | $95,000 | $195,000 | $42,000 | $60,000 |
| Preapproval Approved but not Accepted | 2 | $560,000 | $280,000 | $455,000 | $78,000 | $105,000 |
| Application Withdrawn By Applicant | 2 | $990,000 | $495,000 | $555,000 | $0 | $0 |
| File Closed For Incompleteness | 1 | $455,000 | $455,000 | $455,000 | $0 | $0 |
| 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 | 304 | $146,890,000 | $483,000 | $3,305,000 | $242,000 | $1,621,000 |
| Other | 5 | $2,015,000 | $403,000 | $655,000 | $0 | $0 |
| Collateral | 3 | $865,000 | $288,000 | $505,000 | $94,000 | $94,000 |
| Credit History | 3 | $455,000 | $151,000 | $195,000 | $37,000 | $60,000 |
| Debt-To-Income Ratio | 2 | $790,000 | $395,000 | $705,000 | $74,000 | $103,000 |
| Employment History | 1 | $5,000 | $5,000 | $5,000 | $52,000 | $52,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Saco & Biddeford Savings Institution'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 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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