Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2022
In 2022, Salem Co-Operative Bank of Salem, NH reported 217 mortgage applications totaling $77.9 million, down 17% from 2021. The average application was for $358,778, and applicants reported an average income of $157,211. 73% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Rockingham County-Strafford County, NH (114), Cambridge-Newton-Framingham, MA (47) and Manchester-Nashua, NH (38) (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 | 217 |
| Total Mortgage Loan Application Amount | $77,855,000 |
| Average Mortgage Loan Application Amount | $358,778 |
| Highest Mortgage Loan Application Amount | $1,765,000 |
| Average Applicant Income | $157,211 |
| Highest Applicant Income | $750,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 114 | $ 42,270,000 | $ 370,789 | $ 166,000 |
| Cambridge-Newton-Framingham, MA | 47 | $ 16,235,000 | $ 345,425 | $ 146,000 |
| Manchester-Nashua, NH | 38 | $ 12,460,000 | $ 327,894 | $ 134,000 |
| Outside any metro area | 15 | $ 6,145,000 | $ 409,666 | $ 151,000 |
| Worcester, MA-CT | 2 | $ 210,000 | $ 105,000 | $ 319,000 |
| Boston, MA | 1 | $ 535,000 | $ 535,000 | $ 112,000 |
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank 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 | 114 | $54,250,000 | $475,000 | $1,765,000 | $181,000 | $732,000 |
| Refinancing | 70 | $19,610,000 | $280,000 | $1,015,000 | $133,000 | $750,000 |
| Home Improvement | 17 | $1,135,000 | $66,000 | $165,000 | $107,000 | $194,000 |
| Other Purpose | 16 | $2,860,000 | $178,000 | $455,000 | $147,000 | $239,000 |
| 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 | 164 | $55,150,000 | $336,000 | $1,205,000 | $155,000 | $750,000 |
| Not Provided | 16 | $5,190,000 | $324,000 | $665,000 | $168,000 | $401,000 |
| Hispanic | 16 | $6,230,000 | $389,000 | $805,000 | $114,000 | $182,000 |
| Asian | 11 | $4,375,000 | $397,000 | $1,015,000 | $240,000 | $384,000 |
| Not applicable | 8 | $6,300,000 | $787,000 | $1,765,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $255,000 | $255,000 | $255,000 | $54,000 | $54,000 |
| Black or African American | 1 | $355,000 | $355,000 | $355,000 | $127,000 | $127,000 |
| 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) | 217 | $77,855,000 | $358,000 | $1,765,000 | $156,000 | $750,000 |
| 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 | 159 | $58,785,000 | $369,000 | $1,765,000 | $159,000 | $583,000 |
| Application Denied By Financial Institution | 26 | $7,170,000 | $275,000 | $805,000 | $103,000 | $204,000 |
| Application Withdrawn By Applicant | 23 | $7,815,000 | $339,000 | $625,000 | $207,000 | $750,000 |
| File Closed For Incompleteness | 5 | $2,045,000 | $409,000 | $675,000 | $117,000 | $159,000 |
| Application Approved But Not Accepted | 4 | $2,040,000 | $510,000 | $755,000 | $160,000 | $163,000 |
| 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 | 191 | $70,685,000 | $370,000 | $1,765,000 | $164,000 | $750,000 |
| Debt-To-Income Ratio | 12 | $3,910,000 | $325,000 | $805,000 | $84,000 | $164,000 |
| Credit History | 7 | $1,095,000 | $156,000 | $345,000 | $115,000 | $180,000 |
| Collateral | 4 | $1,290,000 | $322,000 | $525,000 | $159,000 | $204,000 |
| Credit Application Incomplete | 2 | $460,000 | $230,000 | $255,000 | $69,000 | $80,000 |
| Employment History | 1 | $415,000 | $415,000 | $415,000 | $79,000 | $79,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 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 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 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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