Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2015
In 2015, Salem Co-Operative Bank of Salem, NH reported 297 mortgage applications totaling $68.6 million, up 12% from 2014. The average application was for $231,060, and applicants reported an average income of $126,528. 73% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Rockingham County-Strafford County, NH (195), Cambridge-Newton-Framingham, MA (51) and Manchester-Nashua, NH (40) (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 | 297 |
| Total Mortgage Loan Application Amount | $68,625,000 |
| Average Mortgage Loan Application Amount | $231,060 |
| Highest Mortgage Loan Application Amount | $1,500,000 |
| Average Applicant Income | $126,528 |
| Highest Applicant Income | $1,921,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rockingham County-Strafford County, NH | 195 | $ 45,731,000 | $ 234,517 | $ 144,000 |
| Cambridge-Newton-Framingham, MA | 51 | $ 10,246,000 | $ 200,901 | $ 83,000 |
| Manchester-Nashua, NH | 40 | $ 9,349,000 | $ 233,725 | $ 90,000 |
| Boston, MA | 1 | $ 501,000 | $ 501,000 | $ 0 |
| Worcester, MA-CT | 1 | $ 70,000 | $ 70,000 | $ 0 |
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank in 2015
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 | 131 | $35,468,000 | $270,000 | $1,500,000 | $123,000 | $710,000 |
| Refinancing | 118 | $25,666,000 | $217,000 | $1,200,000 | $127,000 | $1,682,000 |
| Home Improvement | 48 | $7,491,000 | $156,000 | $750,000 | $135,000 | $1,921,000 |
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 | 241 | $53,653,000 | $222,000 | $1,200,000 | $131,000 | $1,921,000 |
| Not Provided | 30 | $7,637,000 | $254,000 | $1,092,000 | $173,000 | $1,682,000 |
| Not applicable | 20 | $5,398,000 | $269,000 | $1,500,000 | $0 | $0 |
| Asian | 4 | $1,568,000 | $392,000 | $848,000 | $134,000 | $238,000 |
| Hispanic | 2 | $369,000 | $184,000 | $247,000 | $246,000 | $247,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 297 | $68,625,000 | $231,000 | $1,500,000 | $127,000 | $1,921,000 |
| 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 | 217 | $46,868,000 | $215,000 | $895,000 | $124,000 | $1,921,000 |
| Application Denied By Financial Institution | 47 | $11,884,000 | $252,000 | $1,200,000 | $154,000 | $1,682,000 |
| Application Withdrawn By Applicant | 26 | $8,188,000 | $314,000 | $1,500,000 | $101,000 | $377,000 |
| File Closed For Incompleteness | 6 | $1,390,000 | $231,000 | $550,000 | $127,000 | $300,000 |
| Application Approved But Not Accepted | 1 | $295,000 | $295,000 | $295,000 | $118,000 | $118,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 22 | $4,714,000 | $214,000 | $775,000 | $68,000 | $164,000 |
| Credit History | 12 | $2,579,000 | $214,000 | $420,000 | $59,000 | $211,000 |
| Collateral | 6 | $3,318,000 | $553,000 | $1,200,000 | $637,000 | $1,682,000 |
| Other | 3 | $672,000 | $224,000 | $280,000 | $98,000 | $109,000 |
| Employment History | 3 | $451,000 | $150,000 | $344,000 | $111,000 | $175,000 |
| Unverifiable Information | 1 | $150,000 | $150,000 | $150,000 | $584,000 | $584,000 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Salem Co-Operative Bank's 2015 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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