Massachusetts
Mortgage Loan Application
Totals and Details
in 2020

Find mortgage statistics and mortgage data for Massachusetts.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2020 in all of Massachusetts.
You can organize this information by metropolitan area and by county.

Years 2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 555,192
Total Mortgage Loan Application Amount $203,554,520,000
Average Mortgage Loan Application Amount $366,000
Highest Mortgage Loan Application Amount $98,435,000
Average Applicant Income $158,000
Highest Applicant Income $9,827,000

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 Massachusetts, 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.

Download the Massachusetts Lender List

Mortgage Loan Application Detail Totals for Massachusetts in 2020

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 269,869 $99,112,145,000 $367,000 $86,455,000 $162,000 $9,827,000
Home Purchase 136,446 $61,087,370,000 $447,000 $98,435,000 $158,000 $9,605,000
Cash-out Refinancing 98,746 $34,609,040,000 $350,000 $59,005,000 $143,000 $9,827,000
Home Improvement 26,613 $3,872,655,000 $145,000 $22,925,000 $152,000 $9,282,000
Other Purpose 19,067 $3,763,925,000 $197,000 $15,005,000 $177,000 $9,372,000
Not Applicable 4,451 $1,109,385,000 $249,000 $1,915,000 $66,000 $252,000

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 347,361 $119,593,905,000 $344,000 $38,585,000 $161,000 $9,827,000
Not Provided 78,529 $28,729,290,000 $365,000 $27,705,000 $168,000 $9,372,000
Not applicable 42,836 $24,082,200,000 $562,000 $98,435,000 $159,000 $5,972,000
Asian 33,446 $13,883,820,000 $415,000 $5,405,000 $166,000 $9,605,000
Hispanic 27,260 $8,570,940,000 $314,000 $24,795,000 $105,000 $9,306,000
Black or African American 19,482 $6,220,295,000 $319,000 $5,405,000 $110,000 $8,766,000
American Indian or Alaskan Native 1,345 $384,535,000 $285,000 $2,505,000 $118,000 $7,052,000
Native Hawaiian or Other Pacific Islander 296 $102,200,000 $345,000 $1,935,000 $138,000 $1,358,000

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) 489,573 $181,375,345,000 $370,000 $98,435,000 $163,000 $9,827,000
FHA-insured (Federal Housing Administration) 42,501 $13,976,775,000 $328,000 $86,455,000 $82,000 $8,766,000
VA-guaranteed (Veterans Administration) 22,198 $7,969,630,000 $359,000 $4,755,000 $101,000 $1,080,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 920 $232,770,000 $253,000 $1,325,000 $77,000 $500,000

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 341,494 $129,803,315,000 $380,000 $98,435,000 $162,000 $9,827,000
Application Withdrawn By Applicant 64,842 $24,488,605,000 $377,000 $55,905,000 $169,000 $9,605,000
Loan Purchased By The Institution 57,062 $21,480,540,000 $376,000 $3,975,000 $150,000 $8,766,000
Application Denied By Financial Institution 53,662 $15,307,620,000 $285,000 $32,005,000 $125,000 $7,920,000
File Closed For Incompleteness 28,210 $9,000,070,000 $319,000 $31,005,000 $150,000 $8,888,000
Application Approved But Not Accepted 9,771 $3,412,425,000 $349,000 $13,065,000 $164,000 $5,854,000
Preapproval Approved but not Accepted 107 $43,445,000 $406,000 $2,005,000 $120,000 $797,000
Preapproval Denied by Financial Institution 44 $18,500,000 $420,000 $1,315,000 $111,000 $292,000

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 469,305 $176,599,105,000 $376,000 $98,435,000 $161,000 $9,827,000
Debt-To-Income Ratio 52,064 $17,468,930,000 $335,000 $32,005,000 $131,000 $9,605,000
Credit History 9,982 $2,236,000,000 $224,000 $12,855,000 $135,000 $5,871,000
Collateral 7,907 $2,104,165,000 $266,000 $9,005,000 $166,000 $6,288,000
Credit Application Incomplete 6,504 $1,976,070,000 $303,000 $3,785,000 $147,000 $7,920,000
Other 5,283 $1,761,795,000 $333,000 $25,005,000 $169,000 $6,965,000
Unverifiable Information 2,165 $683,455,000 $315,000 $6,475,000 $152,000 $4,804,000
Insufficient Cash (Downpayment, Closing Cost) 1,015 $416,695,000 $410,000 $3,805,000 $158,000 $4,301,000
Employment History 942 $300,370,000 $318,000 $3,195,000 $94,000 $800,000
Mortgage Insurance Denied 25 $7,935,000 $317,000 $725,000 $122,000 $324,000
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Mortgage Loan Application Totals in 2020 by Massachusetts 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
BARNSTABLE TOWN, MA 29,430 $ 10,055,695,000 $ 341,000 $ 188,000
BOSTON, MA 164,017 $ 68,345,410,000 $ 416,000 $ 171,000
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 204,030 $ 82,281,490,000 $ 403,000 $ 167,000
PITTSFIELD, MA 7,306 $ 1,683,240,000 $ 230,000 $ 144,000
SPRINGFIELD, MA 35,798 $ 7,438,590,000 $ 207,000 $ 100,000
WORCESTER, MA-CT 65,237 $ 17,449,970,000 $ 267,000 $ 121,000
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Mortgage Loan Application Totals in 2020 by Massachusetts County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Barnstable 29,430 $ 10,055,695,000 $ 341,000 $ 188,000
Berkshire 7,306 $ 1,683,240,000 $ 230,000 $ 144,000
Bristol 44,977 $ 12,350,600,000 $ 274,000 $ 115,000
Dukes 2,512 $ 1,689,220,000 $ 672,000 $ 335,000
Essex 70,898 $ 25,186,025,000 $ 355,000 $ 144,000
Franklin 3,370 $ 662,330,000 $ 196,000 $ 98,000
Hampden 24,751 $ 4,910,045,000 $ 198,000 $ 95,000
Hampshire 7,677 $ 1,866,215,000 $ 243,000 $ 119,000
Middlesex 133,132 $ 57,095,465,000 $ 428,000 $ 178,000
Nantucket 1,884 $ 2,260,010,000 $ 1,199,000 $ 584,000
Norfolk 66,331 $ 28,396,435,000 $ 428,000 $ 180,000
Plymouth 54,023 $ 17,963,520,000 $ 332,000 $ 143,000
Suffolk 43,665 $ 21,986,045,000 $ 503,000 $ 188,000
Worcester 65,236 $ 17,449,675,000 $ 267,000 $ 121,000

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 Massachusetts.

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