Maine
Mortgage Loan Application
Totals and Details
in 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 64,142
Total Mortgage Loan Application Amount $12,201,984,000
Average Mortgage Loan Application Amount $190,000
Highest Mortgage Loan Application Amount $99,999,000
Average Applicant Income $86,000
Highest Applicant Income $9,999,000
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Mortgage Loan Application Detail Totals for Maine 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
Home Purchase 30,058 $6,060,684,000 $201,000 $52,880,000 $87,000 $5,872,000
Refinancing 28,383 $5,587,457,000 $196,000 $99,999,000 $86,000 $9,999,000
Home Improvement 5,701 $553,843,000 $97,000 $11,200,000 $81,000 $1,680,000

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 50,647 $9,323,721,000 $184,000 $99,999,000 $92,000 $9,999,000
Not applicable 5,978 $1,421,507,000 $237,000 $52,880,000 $9,000 $1,135,000
Not Provided 5,720 $1,119,154,000 $195,000 $4,440,000 $109,000 $8,400,000
Hispanic 586 $106,982,000 $182,000 $1,000,000 $90,000 $1,375,000
Asian 484 $105,362,000 $217,000 $1,875,000 $113,000 $1,202,000
Black or African American 335 $62,334,000 $186,000 $669,000 $80,000 $1,540,000
American Indian or Alaskan Native 307 $48,869,000 $159,000 $1,278,000 $63,000 $801,000
Native Hawaiin or Other Pacific Islander 85 $14,055,000 $165,000 $475,000 $88,000 $722,000

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) 44,930 $8,770,435,000 $195,000 $99,999,000 $103,000 $9,999,000
FHA-insured (Federal Housing Administration) 9,464 $1,676,369,000 $177,000 $99,999,000 $45,000 $1,980,000
VA-guaranteed (Veterans Administration) 6,199 $1,236,192,000 $199,000 $1,454,000 $53,000 $1,200,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 3,549 $518,988,000 $146,000 $414,000 $39,000 $213,000

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 33,761 $6,542,723,000 $193,000 $52,880,000 $98,000 $5,521,000
Application Denied By Financial Institution 12,217 $2,078,729,000 $170,000 $99,999,000 $75,000 $8,400,000
Loan Purchased By The Institution 7,474 $1,435,753,000 $192,000 $1,350,000 $38,000 $2,837,000
Application Withdrawn By Applicant 6,160 $1,309,740,000 $212,000 $99,999,000 $98,000 $9,999,000
File Closed For Incompleteness 2,589 $474,232,000 $183,000 $1,760,000 $86,000 $2,403,000
Application Approved But Not Accepted 1,940 $360,657,000 $185,000 $5,300,000 $95,000 $2,763,000
Preapproval Approved but not Accepted 1 $150,000 $150,000 $150,000 $134,000 $134,000
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
Credit History 1,395 $140,350,000 $100,000 $2,626,000 $62,000 $1,540,000
Debt-To-Income Ratio 1,299 $216,380,000 $166,000 $2,400,000 $55,000 $780,000
Collateral 1,163 $227,021,000 $195,000 $4,240,000 $110,000 $5,872,000
Credit Application Incomplete 577 $200,706,000 $347,000 $99,999,000 $83,000 $1,044,000
Other 435 $67,817,000 $155,000 $3,000,000 $89,000 $2,546,000
Unverifiable Information 120 $22,188,000 $184,000 $1,500,000 $86,000 $601,000
Employment History 109 $14,685,000 $134,000 $417,000 $63,000 $600,000
Insufficient Cash (Downpayment, Closing Cost) 96 $17,304,000 $180,000 $793,000 $86,000 $737,000
Mortgage Insurance Denied 3 $467,000 $155,000 $302,000 $88,000 $180,000
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Mortgage Loan Application Totals in 2016 by Maine Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
BANGOR, ME 5,789 $ 776,251,000 $ 134,000 $ 66,000
LEWISTON-AUBURN, ME 4,580 $ 638,053,000 $ 139,000 $ 60,000
PORTLAND-SOUTH PORTLAND, ME 33,748 $ 7,775,061,000 $ 230,000 $ 97,000
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Mortgage Loan Application Totals in 2016 by Maine County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Androscoggin 4,583 $ 638,478,000 $ 139,000 $ 59,000
Aroostook 1,480 $ 151,090,000 $ 102,000 $ 60,000
Cumberland 18,211 $ 4,460,733,000 $ 244,000 $ 102,000
Franklin 961 $ 138,647,000 $ 144,000 $ 101,000
Hancock 2,513 $ 506,008,000 $ 201,000 $ 110,000
Kennebec 4,173 $ 585,162,000 $ 140,000 $ 62,000
Knox 1,772 $ 339,876,000 $ 191,000 $ 94,000
Lincoln 1,710 $ 314,473,000 $ 183,000 $ 95,000
Oxford 2,362 $ 339,120,000 $ 143,000 $ 77,000
Penobscot 5,790 $ 776,350,000 $ 134,000 $ 66,000
Piscataquis 665 $ 70,042,000 $ 105,000 $ 67,000
Sagadahoc 1,989 $ 355,767,000 $ 178,000 $ 81,000
Somerset 1,599 $ 171,434,000 $ 107,000 $ 60,000
Waldo 1,633 $ 251,770,000 $ 154,000 $ 80,000
Washington 1,101 $ 130,185,000 $ 118,000 $ 68,000
York 13,567 $ 2,961,618,000 $ 218,000 $ 93,000
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