Salem Co-Operative Bank Mortgage Lending & HMDA Data, 2021
In 2021, Salem Co-Operative Bank of Salem, NH reported 261 mortgage applications totaling $94.6 million, about the same as 2020. The average application was for $362,394, and applicants reported an average income of $172,804. 74% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Rockingham County-Strafford County, NH (179), Cambridge-Newton-Framingham, MA (41) and Manchester-Nashua, NH (31) (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 | 261 |
| Total Mortgage Loan Application Amount | $94,585,000 |
| Average Mortgage Loan Application Amount | $362,394 |
| Highest Mortgage Loan Application Amount | $6,805,000 |
| Average Applicant Income | $172,804 |
| Highest Applicant Income | $1,600,000 |
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(HMDA) records Salem Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2021
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 |
|---|---|---|---|---|---|---|
| Refinancing | 136 | $40,030,000 | $294,000 | $915,000 | $160,000 | $1,600,000 |
| Home Purchase | 108 | $52,320,000 | $484,000 | $6,805,000 | $198,000 | $794,000 |
| Home Improvement | 12 | $1,950,000 | $162,000 | $755,000 | $119,000 | $257,000 |
| Other Purpose | 5 | $285,000 | $57,000 | $105,000 | $106,000 | $201,000 |
| 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 | 212 | $68,860,000 | $324,000 | $1,155,000 | $164,000 | $1,600,000 |
| Not Provided | 18 | $6,370,000 | $353,000 | $765,000 | $212,000 | $515,000 |
| Hispanic | 12 | $3,400,000 | $283,000 | $615,000 | $157,000 | $213,000 |
| Asian | 8 | $3,850,000 | $481,000 | $1,085,000 | $355,000 | $524,000 |
| Not applicable | 8 | $10,870,000 | $1,358,000 | $6,805,000 | $0 | $0 |
| Black or African American | 2 | $960,000 | $480,000 | $575,000 | $182,000 | $300,000 |
| American Indian or Alaskan Native | 1 | $275,000 | $275,000 | $275,000 | $66,000 | $66,000 |
| 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) | 261 | $94,585,000 | $362,000 | $6,805,000 | $172,000 | $1,600,000 |
| 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 | 193 | $69,875,000 | $362,000 | $6,805,000 | $178,000 | $1,600,000 |
| Application Withdrawn By Applicant | 31 | $12,915,000 | $416,000 | $1,085,000 | $176,000 | $476,000 |
| Application Denied By Financial Institution | 28 | $8,380,000 | $299,000 | $605,000 | $142,000 | $802,000 |
| File Closed For Incompleteness | 6 | $1,970,000 | $328,000 | $665,000 | $136,000 | $200,000 |
| Application Approved But Not Accepted | 3 | $1,445,000 | $481,000 | $925,000 | $128,000 | $146,000 |
| 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 | 233 | $86,205,000 | $369,000 | $6,805,000 | $176,000 | $1,600,000 |
| Debt-To-Income Ratio | 9 | $2,815,000 | $312,000 | $605,000 | $63,000 | $122,000 |
| Credit History | 7 | $2,195,000 | $313,000 | $605,000 | $126,000 | $204,000 |
| Credit Application Incomplete | 4 | $1,270,000 | $317,000 | $525,000 | $190,000 | $262,000 |
| Collateral | 3 | $605,000 | $201,000 | $575,000 | $151,000 | $300,000 |
| Employment History | 3 | $765,000 | $255,000 | $455,000 | $92,000 | $159,000 |
| Other | 1 | $355,000 | $355,000 | $355,000 | $802,000 | $802,000 |
| Unverifiable Information | 1 | $375,000 | $375,000 | $375,000 | $168,000 | $168,000 |
| 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 2021 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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