Maine
Mortgage Loan Application
Totals and Details
in 2022

Find mortgage statistics and mortgage data for Maine.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2022 in all of Maine.
You can organize this information by metropolitan area and by county.

Years 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 66,823
Total Mortgage Loan Application Amount $16,798,115,000
Average Mortgage Loan Application Amount $251,000
Highest Mortgage Loan Application Amount $74,915,000
Average Applicant Income $125,000
Highest Applicant Income $8,920,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in Maine, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also be organized by various details about Mortgage Loan Applications for each year, with 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, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for Maine in 2022

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 29,745 $9,470,505,000 $318,000 $36,005,000 $136,000 $8,920,000
Cash-out Refinancing 14,059 $3,325,355,000 $236,000 $55,195,000 $102,000 $7,634,000
Home Improvement 8,449 $1,037,585,000 $122,000 $74,915,000 $124,000 $3,821,000
Refinancing 8,430 $2,096,380,000 $248,000 $39,195,000 $117,000 $6,396,000
Other Purpose 5,968 $844,460,000 $141,000 $7,005,000 $135,000 $4,718,000
Not Applicable 172 $23,830,000 $138,000 $1,355,000 $36,000 $110,000

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 50,509 $11,483,155,000 $227,000 $8,005,000 $122,000 $8,920,000
Not Provided 8,774 $2,252,680,000 $256,000 $3,805,000 $140,000 $7,634,000
Not applicable 4,734 $2,347,330,000 $495,000 $74,915,000 $152,000 $6,396,000
Black or African American 867 $235,425,000 $271,000 $1,055,000 $105,000 $741,000
Hispanic 733 $177,375,000 $241,000 $1,365,000 $120,000 $1,460,000
Asian 662 $192,950,000 $291,000 $1,685,000 $140,000 $1,754,000
American Indian or Alaskan Native 394 $71,360,000 $181,000 $2,005,000 $96,000 $2,250,000
Native Hawaiian or Other Pacific Islander 36 $6,880,000 $191,000 $445,000 $71,000 $212,000

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) 54,735 $13,739,235,000 $251,000 $55,195,000 $134,000 $8,920,000
FHA-insured (Federal Housing Administration) 6,589 $1,592,285,000 $241,000 $74,915,000 $72,000 $2,544,000
VA-guaranteed (Veterans Administration) 4,441 $1,268,195,000 $285,000 $1,555,000 $88,000 $1,438,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,058 $198,400,000 $187,000 $555,000 $62,000 $900,000

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 40,577 $10,600,345,000 $261,000 $55,195,000 $131,000 $7,634,000
Application Denied By Financial Institution 9,335 $1,718,255,000 $184,000 $5,855,000 $92,000 $6,396,000
Application Withdrawn By Applicant 8,602 $2,352,280,000 $273,000 $74,915,000 $131,000 $8,920,000
Loan Purchased By The Institution 3,813 $1,124,335,000 $294,000 $6,925,000 $143,000 $3,391,000
File Closed For Incompleteness 2,608 $551,300,000 $211,000 $8,005,000 $114,000 $4,800,000
Application Approved But Not Accepted 1,712 $414,130,000 $241,000 $7,575,000 $116,000 $1,611,000
Preapproval Approved but not Accepted 126 $30,870,000 $245,000 $765,000 $106,000 $500,000
Preapproval Denied by Financial Institution 50 $6,600,000 $132,000 $365,000 $59,000 $184,000

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 53,029 $14,003,295,000 $264,000 $74,915,000 $130,000 $8,920,000
Debt-To-Income Ratio 7,816 $1,717,000,000 $219,000 $14,705,000 $105,000 $6,773,000
Credit History 2,197 $320,355,000 $145,000 $5,855,000 $89,000 $6,396,000
Collateral 1,520 $288,480,000 $189,000 $1,915,000 $121,000 $2,734,000
Credit Application Incomplete 881 $182,765,000 $207,000 $2,505,000 $115,000 $3,434,000
Other 745 $151,195,000 $202,000 $2,825,000 $115,000 $1,800,000
Unverifiable Information 341 $67,185,000 $197,000 $1,725,000 $94,000 $650,000
Insufficient Cash (Downpayment, Closing Cost) 163 $41,405,000 $254,000 $1,465,000 $95,000 $518,000
Employment History 121 $23,385,000 $193,000 $635,000 $66,000 $300,000
Mortgage Insurance Denied 10 $3,050,000 $305,000 $595,000 $103,000 $240,000
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Mortgage Loan Application Totals in 2022 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 6,388 $ 1,158,100,000 $ 181,000 $ 97,000
LEWISTON-AUBURN, ME 5,020 $ 1,036,100,000 $ 206,000 $ 94,000
PORTLAND-SOUTH PORTLAND, ME 30,397 $ 9,538,725,000 $ 313,000 $ 145,000
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Mortgage Loan Application Totals in 2022 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 5,020 $ 1,036,100,000 $ 206,000 $ 94,000
Aroostook 2,357 $ 305,365,000 $ 129,000 $ 81,000
Cumberland 15,999 $ 5,318,595,000 $ 332,000 $ 154,000
Franklin 1,238 $ 281,200,000 $ 227,000 $ 140,000
Hancock 2,641 $ 664,185,000 $ 251,000 $ 146,000
Kennebec 5,774 $ 1,136,490,000 $ 196,000 $ 104,000
Knox 1,981 $ 484,335,000 $ 244,000 $ 128,000
Lincoln 1,897 $ 472,995,000 $ 249,000 $ 122,000
Oxford 2,895 $ 634,865,000 $ 219,000 $ 124,000
Penobscot 6,388 $ 1,158,100,000 $ 181,000 $ 97,000
Piscataquis 820 $ 136,310,000 $ 166,000 $ 101,000
Sagadahoc 1,754 $ 447,170,000 $ 254,000 $ 119,000
Somerset 2,051 $ 328,225,000 $ 160,000 $ 84,000
Waldo 1,977 $ 403,345,000 $ 204,000 $ 113,000
Washington 1,387 $ 217,875,000 $ 157,000 $ 97,000
York 12,644 $ 3,772,960,000 $ 298,000 $ 137,000

We hope these mortgage application details and statistics will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in Maine.

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

Download the Maine Lender List