Stonehambank - A Co-Operative Mortgage Lending & HMDA Data, 2023
In 2023, Stonehambank - A Co-Operative of Stoneham, MA reported 187 mortgage applications totaling $115.3 million, up 30% from 2022. The average application was for $616,550, and applicants reported an average income of $217,887. 70% of its applications resulted in an originated loan and 9% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (122), Boston, MA (39) and Providence-Warwick, RI-MA (9) (applications in parentheses).
| Mortgage Company & Address | Stonehambank - A Co-Operative 80 Montvale Ave Stoneham, MA 02180 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 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 187 |
| Total Mortgage Loan Application Amount | $115,295,000 |
| Average Mortgage Loan Application Amount | $616,550 |
| Highest Mortgage Loan Application Amount | $3,605,000 |
| Average Applicant Income | $217,887 |
| Highest Applicant Income | $1,496,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Stonehambank - A Co-Operative filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Stonehambank - A Co-Operative in 2023
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 | 151 | $95,275,000 | $630,000 | $3,035,000 | $233,000 | $1,496,000 |
| Cash-out Refinancing | 20 | $11,000,000 | $550,000 | $1,605,000 | $162,000 | $266,000 |
| Refinancing | 10 | $6,250,000 | $625,000 | $3,605,000 | $135,000 | $508,000 |
| Home Improvement | 4 | $1,940,000 | $485,000 | $725,000 | $161,000 | $195,000 |
| Other Purpose | 2 | $830,000 | $415,000 | $465,000 | $164,000 | $199,000 |
| 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 | 82 | $39,300,000 | $479,000 | $1,875,000 | $219,000 | $1,496,000 |
| Asian | 41 | $23,715,000 | $578,000 | $1,705,000 | $212,000 | $609,000 |
| Not applicable | 40 | $34,400,000 | $860,000 | $3,035,000 | $0 | $0 |
| Not Provided | 15 | $9,425,000 | $628,000 | $1,265,000 | $220,000 | $410,000 |
| Hispanic | 6 | $3,540,000 | $590,000 | $1,085,000 | $219,000 | $423,000 |
| Black or African American | 1 | $3,605,000 | $3,605,000 | $3,605,000 | $508,000 | $508,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 187 | $115,295,000 | $616,000 | $3,605,000 | $219,000 | $1,496,000 |
| 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 | 130 | $79,050,000 | $608,000 | $2,475,000 | $225,000 | $1,444,000 |
| Application Withdrawn By Applicant | 21 | $10,365,000 | $493,000 | $1,295,000 | $199,000 | $550,000 |
| Application Denied By Financial Institution | 17 | $11,285,000 | $663,000 | $3,605,000 | $262,000 | $1,496,000 |
| File Closed For Incompleteness | 16 | $10,870,000 | $679,000 | $1,705,000 | $181,000 | $392,000 |
| Application Approved But Not Accepted | 3 | $3,725,000 | $1,241,000 | $3,035,000 | $62,000 | $90,000 |
| 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 | 187 | $115,295,000 | $616,000 | $3,605,000 | $219,000 | $1,496,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Stonehambank - A Co-Operative's 2023 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 Stonehambank - A Co-Operative'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 Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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