Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2016
In 2016, Salem Co-Operative Bank of Salem, NH reported 336 mortgage applications totaling $82.0 million, up 13% from 2015. The average application was for $244,127, and applicants reported an average income of $114,366. 67% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Rockingham County-Strafford County, NH (210), Cambridge-Newton-Framingham, MA (69) and Manchester-Nashua, NH (46) (applications in parentheses).
| Mortgage Company & Address | Salem Co-Operative Bank 3 South Broadway Salem, NH 03079 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 |
| Total Number of Mortgage Applications | 336 |
| Total Mortgage Loan Application Amount | $82,027,000 |
| Average Mortgage Loan Application Amount | $244,127 |
| Highest Mortgage Loan Application Amount | $1,300,000 |
| Average Applicant Income | $114,366 |
| Highest Applicant Income | $945,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rockingham, New Hampshire | 209 | $ 51,300,000 | $ 245,454 | $ 122,000 |
| Essex, Massachusetts | 57 | $ 12,940,000 | $ 227,017 | $ 88,000 |
| Hillsborough, New Hampshire | 46 | $ 10,556,000 | $ 229,478 | $ 98,000 |
| Middlesex, Massachusetts | 12 | $ 3,300,000 | $ 275,000 | $ 119,000 |
| Merrimack, New Hampshire | 9 | $ 2,348,000 | $ 260,888 | $ 202,000 |
| Belknap, New Hampshire | 1 | $ 142,000 | $ 142,000 | $ 51,000 |
| Carroll, New Hampshire | 1 | $ 211,000 | $ 211,000 | $ 210,000 |
| Strafford, New Hampshire | 1 | $ 1,230,000 | $ 1,230,000 | $ 0 |
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank in 2016
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 | 166 | $42,900,000 | $258,000 | $1,300,000 | $117,000 | $848,000 |
| Refinancing | 115 | $25,348,000 | $220,000 | $680,000 | $116,000 | $945,000 |
| Home Improvement | 55 | $13,779,000 | $250,000 | $1,230,000 | $103,000 | $260,000 |
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 | 257 | $60,701,000 | $236,000 | $700,000 | $117,000 | $945,000 |
| Not Provided | 35 | $10,648,000 | $304,000 | $1,300,000 | $179,000 | $848,000 |
| Not applicable | 21 | $5,804,000 | $276,000 | $1,230,000 | $0 | $0 |
| Asian | 12 | $2,523,000 | $210,000 | $459,000 | $109,000 | $262,000 |
| Hispanic | 10 | $2,158,000 | $215,000 | $329,000 | $81,000 | $113,000 |
| Black or African American | 1 | $193,000 | $193,000 | $193,000 | $108,000 | $108,000 |
| Native Hawaiin or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 336 | $82,027,000 | $244,000 | $1,300,000 | $115,000 | $945,000 |
| 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 | 226 | $54,677,000 | $241,000 | $1,300,000 | $113,000 | $848,000 |
| Application Denied By Financial Institution | 41 | $9,319,000 | $227,000 | $1,230,000 | $94,000 | $260,000 |
| Application Withdrawn By Applicant | 40 | $10,057,000 | $251,000 | $760,000 | $102,000 | $343,000 |
| File Closed For Incompleteness | 23 | $5,699,000 | $247,000 | $1,040,000 | $132,000 | $325,000 |
| Application Approved But Not Accepted | 6 | $2,275,000 | $379,000 | $760,000 | $351,000 | $945,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 17 | $3,190,000 | $187,000 | $329,000 | $108,000 | $231,000 |
| Debt-To-Income Ratio | 15 | $3,077,000 | $205,000 | $327,000 | $82,000 | $180,000 |
| Collateral | 4 | $821,000 | $205,000 | $409,000 | $125,000 | $260,000 |
| Other | 3 | $1,786,000 | $595,000 | $1,230,000 | $62,000 | $98,000 |
| Unverifiable Information | 1 | $176,000 | $176,000 | $176,000 | $2,000 | $2,000 |
| Employment History | 1 | $269,000 | $269,000 | $269,000 | $81,000 | $81,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Salem Co-Operative Bank's 2016 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 Salem Co-Operative 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 New Hampshire, download the full spreadsheet
with aggregated HMDA statistics today.
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