Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2018
In 2018, Salem Co-Operative Bank of Salem, NH reported 273 mortgage applications totaling $84.2 million, up 17% from 2017. The average application was for $308,406, and applicants reported an average income of $142,007. 65% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Rockingham County-Strafford County, NH (172), Cambridge-Newton-Framingham, MA (45) and Manchester-Nashua, NH (42) (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 | 273 |
| Total Mortgage Loan Application Amount | $84,195,000 |
| Average Mortgage Loan Application Amount | $308,406 |
| Highest Mortgage Loan Application Amount | $8,605,000 |
| Average Applicant Income | $142,007 |
| Highest Applicant Income | $2,064,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 171 | $ 55,245,000 | $ 323,070 | $ 154,000 |
| Hillsborough, New Hampshire | 42 | $ 9,860,000 | $ 234,761 | $ 112,000 |
| Essex, Massachusetts | 34 | $ 11,060,000 | $ 325,294 | $ 115,000 |
| Middlesex, Massachusetts | 11 | $ 3,425,000 | $ 311,363 | $ 151,000 |
| Merrimack, New Hampshire | 9 | $ 1,955,000 | $ 217,222 | $ 103,000 |
| Belknap, New Hampshire | 3 | $ 1,935,000 | $ 645,000 | $ 262,000 |
| Norfolk, Massachusetts | 1 | $ 275,000 | $ 275,000 | $ 85,000 |
| Suffolk, Massachusetts | 1 | $ 355,000 | $ 355,000 | $ 0 |
| Strafford, New Hampshire | 1 | $ 85,000 | $ 85,000 | $ 35,000 |
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank in 2018
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 | 163 | $52,245,000 | $320,000 | $1,305,000 | $142,000 | $2,064,000 |
| Refinancing | 70 | $26,370,000 | $376,000 | $8,605,000 | $141,000 | $573,000 |
| Home Improvement | 32 | $5,200,000 | $162,000 | $1,205,000 | $155,000 | $515,000 |
| Other Purpose | 8 | $380,000 | $47,000 | $75,000 | $99,000 | $278,000 |
| 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 | 214 | $60,600,000 | $283,000 | $1,515,000 | $142,000 | $2,064,000 |
| Not Provided | 37 | $6,075,000 | $164,000 | $505,000 | $140,000 | $515,000 |
| Not applicable | 14 | $14,600,000 | $1,042,000 | $8,605,000 | $0 | $0 |
| Asian | 4 | $1,490,000 | $372,000 | $595,000 | $149,000 | $248,000 |
| Black or African American | 1 | $505,000 | $505,000 | $505,000 | $139,000 | $139,000 |
| Hispanic | 1 | $275,000 | $275,000 | $275,000 | $85,000 | $85,000 |
| Native Hawaiian 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) | 273 | $84,195,000 | $308,000 | $8,605,000 | $142,000 | $2,064,000 |
| 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 | 177 | $55,695,000 | $314,000 | $8,605,000 | $143,000 | $2,064,000 |
| Application Denied By Financial Institution | 51 | $15,005,000 | $294,000 | $1,465,000 | $117,000 | $400,000 |
| Application Withdrawn By Applicant | 32 | $9,010,000 | $281,000 | $885,000 | $168,000 | $573,000 |
| File Closed For Incompleteness | 7 | $2,945,000 | $420,000 | $805,000 | $198,000 | $529,000 |
| Application Approved But Not Accepted | 6 | $1,540,000 | $256,000 | $685,000 | $103,000 | $241,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 222 | $69,190,000 | $311,000 | $8,605,000 | $148,000 | $2,064,000 |
| Debt-To-Income Ratio | 15 | $5,385,000 | $359,000 | $1,465,000 | $91,000 | $400,000 |
| Credit History | 13 | $3,065,000 | $235,000 | $555,000 | $129,000 | $272,000 |
| Other | 8 | $3,700,000 | $462,000 | $1,205,000 | $153,000 | $263,000 |
| Credit Application Incomplete | 7 | $1,635,000 | $233,000 | $325,000 | $143,000 | $243,000 |
| Collateral | 6 | $940,000 | $156,000 | $435,000 | $87,000 | $134,000 |
| Employment History | 1 | $215,000 | $215,000 | $215,000 | $78,000 | $78,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $65,000 | $65,000 | $65,000 | $135,000 | $135,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Salem Co-Operative Bank's 2018 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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