Southbridge Savings Bank
Mortgage Loan Application
Totals and Details
for 2016

Find mortgage statistics in Massachusetts.
The mortgage statistics provided below are specific to mortgages loaned by Southbridge Savings Bank, and
charts are available for all areas of Massachusetts.
Search for mortgage details by county or metropolitan area and explore the total number of mortgage applications and mortgage application details for 2003-2016.

Mortgage Company & Address Southbridge Savings Bank
253 Main Street
Southbridge, MA 01550
Tel #: available with data download
Federal Regulator * available with data download
Years 2016  2015  2014  
Total Number of Mortgage Applications 447
Total Mortgage Loan Application Amount $122,715,000
Average Mortgage Loan Application Amount $311,187
Highest Mortgage Loan Application Amount $1,333,000
Average Applicant Income $129,375
Highest Applicant Income $976,000

We provide overall totals and averages for each year, as well as highest application amount and the income of the highest applicant.
As you search for the best mortgages in MA, our lists will give you a good idea what to expect in any situation.
These numbers will tell you what the best mortgage loans are by county, by race, and per income. With this information, you can be prepared to get the best mortgage price when you search out a mortgage lender.

Download the Massachusetts Lender List

Our numbers detail mortgage loan totals in categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.
Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, the highest mortgage within that category, the average income of the mortgage applicants, and the highest income of the mortgage applicants.
You can also download the entire list of mortgage applicants in Massachusetts, and search the same numbers and information back through 2003.

Mortgage Loan Application Detail Totals for Southbridge Savings Bank in 2016

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 192 $52,412,000 $272,000 $1,200,000 $130,000 $976,000
Home Purchase 188 $53,618,000 $285,000 $1,333,000 $116,000 $781,000
Home Improvement 69 $17,145,000 $248,000 $1,260,000 $118,000 $957,000

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 319 $74,594,000 $233,000 $1,200,000 $128,000 $976,000
Not Provided 65 $22,531,000 $346,000 $1,333,000 $177,000 $781,000
Not applicable 40 $21,098,000 $527,000 $976,000 $7,000 $150,000
Asian 12 $2,783,000 $231,000 $487,000 $120,000 $293,000
Hispanic 9 $1,519,000 $168,000 $338,000 $88,000 $190,000
Native Hawaiin or Other Pacific Islander 2 $281,000 $140,000 $205,000 $64,000 $75,000
Black or African American 1 $189,000 $189,000 $189,000 $53,000 $53,000
American Indian or Alaskan Native 1 $180,000 $180,000 $180,000 $99,000 $99,000

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) 449 $123,175,000 $274,000 $1,333,000 $122,000 $976,000
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 288 $74,497,000 $258,000 $1,260,000 $144,000 $976,000
Application Withdrawn By Applicant 51 $12,225,000 $239,000 $1,200,000 $106,000 $721,000
Application Denied By Financial Institution 45 $10,449,000 $232,000 $1,333,000 $92,000 $312,000
Loan Purchased By The Institution 28 $17,455,000 $623,000 $976,000 $10,000 $150,000
File Closed For Incompleteness 25 $5,682,000 $227,000 $723,000 $123,000 $283,000
Application Approved But Not Accepted 10 $2,407,000 $240,000 $795,000 $56,000 $163,000
Preapproval Denied by Financial Institution 2 $460,000 $230,000 $270,000 $77,000 $107,000
Preapproval Approved but not Accepted 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
Collateral 0 $0 $0 $0 $0 $0
Credit Application Incomplete 0 $0 $0 $0 $0 $0
Credit History 0 $0 $0 $0 $0 $0
Debt-To-Income Ratio 0 $0 $0 $0 $0 $0
Employment History 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
Other 0 $0 $0 $0 $0 $0
Unverifiable Information 0 $0 $0 $0 $0 $0

These totals and details for mortgage applications will give you a better idea of what to expect when researching mortgage lenders. Whether you are looking for a home loan, for home refinancing, or for home improvement loan statistics, we have the information you need. This mortgage application data give you everything you need to know as you start your search for the best lenders in MA, and give you an idea of what the best mortgage loans really are.

If you prefer, you can download a copy of the entire list of mortgage lenders in Massachusetts, and search similar information back through 2003.

Download the Massachusetts Lender List