Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2019
In 2019, Salem Co-Operative Bank of Salem, NH reported 265 mortgage applications totaling $68.5 million, down 3% from 2018. The average application was for $258,433, and applicants reported an average income of $141,320. 60% of its applications resulted in an originated loan and 23% were denied. Its largest markets were Rockingham County-Strafford County, NH (170), Cambridge-Newton-Framingham, MA (47) and Manchester-Nashua, NH (34) (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 | 265 |
| Total Mortgage Loan Application Amount | $68,485,000 |
| Average Mortgage Loan Application Amount | $258,433 |
| Highest Mortgage Loan Application Amount | $1,225,000 |
| Average Applicant Income | $141,320 |
| Highest Applicant Income | $498,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Salem Co-Operative Bank in 2019
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 | 124 | $39,440,000 | $318,000 | $1,225,000 | $146,000 | $422,000 |
| Refinancing | 95 | $25,315,000 | $266,000 | $655,000 | $142,000 | $408,000 |
| Home Improvement | 26 | $1,410,000 | $54,000 | $165,000 | $116,000 | $247,000 |
| Other Purpose | 20 | $2,320,000 | $116,000 | $395,000 | $142,000 | $498,000 |
| 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 | $53,370,000 | $249,000 | $705,000 | $139,000 | $498,000 |
| Not Provided | 29 | $7,005,000 | $241,000 | $1,015,000 | $153,000 | $384,000 |
| Not applicable | 10 | $4,330,000 | $433,000 | $1,225,000 | $0 | $0 |
| Asian | 7 | $2,405,000 | $343,000 | $645,000 | $173,000 | $321,000 |
| Hispanic | 5 | $1,375,000 | $275,000 | $355,000 | $139,000 | $375,000 |
| 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) | 265 | $68,485,000 | $258,000 | $1,225,000 | $141,000 | $498,000 |
| 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 | 158 | $41,820,000 | $264,000 | $1,225,000 | $143,000 | $422,000 |
| Application Denied By Financial Institution | 61 | $13,035,000 | $213,000 | $655,000 | $122,000 | $498,000 |
| Application Withdrawn By Applicant | 34 | $9,760,000 | $287,000 | $645,000 | $159,000 | $408,000 |
| File Closed For Incompleteness | 6 | $2,070,000 | $345,000 | $605,000 | $163,000 | $390,000 |
| Application Approved But Not Accepted | 6 | $1,800,000 | $300,000 | $625,000 | $175,000 | $232,000 |
| 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 | 204 | $55,450,000 | $271,000 | $1,225,000 | $147,000 | $422,000 |
| Debt-To-Income Ratio | 19 | $4,025,000 | $211,000 | $375,000 | $81,000 | $161,000 |
| Credit Application Incomplete | 15 | $3,445,000 | $229,000 | $515,000 | $139,000 | $408,000 |
| Credit History | 12 | $2,970,000 | $247,000 | $655,000 | $153,000 | $498,000 |
| Collateral | 9 | $965,000 | $107,000 | $365,000 | $124,000 | $259,000 |
| Other | 4 | $1,010,000 | $252,000 | $605,000 | $130,000 | $162,000 |
| Employment History | 1 | $325,000 | $325,000 | $325,000 | $158,000 | $158,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $295,000 | $295,000 | $295,000 | $164,000 | $164,000 |
| 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 2019 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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