Salem Five Cents Savings Bank mortgage approval rate & lending review
Salem Five Cents Savings Bank decided 2,282 mortgage applications and funded 1,755 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Salem Five Cents Savings Bank reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Salem Five Cents Savings Bank at a glance
Approval is 11.6 points above the 70.5% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 88% | 111 / 126 | 89% | $205K | 99 |
| Home improvement loans | 77% | 870 / 1,132 | 92% | $145K | 803 |
| Refinance | 86% | 722 / 843 | 95% | $205K | 685 |
| Investment property purchase | 96% | 97 / 101 | 97% | $615K | 94 |
| Investment refinance | 93% | 56 / 60 | 98% | $435K | 55 |
Salem Five Cents Savings Bank lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Massachusetts | 82% | $205K | 2,170 | 1,669 |
| New Hampshire | 85% | $155K | 85 | 65 |
| Maine | 85% | $65K | 20 | 16 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Salem Five Cents Savings Bank lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Essex County, MA | Home improvement loans | 77% | 601 | 424 |
| Essex County, MA | Refinance | 85% | 500 | 407 |
| Middlesex County, MA | Home improvement loans | 77% | 247 | 179 |
| Middlesex County, MA | Refinance | 87% | 187 | 158 |
| Plymouth County, MA | Home improvement loans | 76% | 63 | 44 |
| Essex County, MA | Investment property purchase | 95% | 39 | 35 |
| Plymouth County, MA | Refinance | 88% | 40 | 33 |
| Suffolk County, MA | Home improvement loans | 67% | 42 | 26 |
| Middlesex County, MA | Investment property purchase | 100% | 26 | 25 |
| Barnstable County, MA | Home improvement loans | 83% | 29 | 23 |
| Norfolk County, MA | Home improvement loans | 65% | 34 | 22 |
| Rockingham County, NH | Home improvement loans | 81% | 31 | 22 |
The county markets where Salem Five Cents Savings Bank made the most loans. Each link opens that market with every lender ranked.
Questions about Salem Five Cents Savings Bank
What is Salem Five Cents Savings Bank's mortgage approval rate?
Salem Five Cents Savings Bank approved 82.2% of the 2,282 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 11.6 points above the 70.5% national rate for the same mix of loan types.
How often do borrowers take the loan Salem Five Cents Savings Bank offers?
Borrowers accepted 94% of the loans Salem Five Cents Savings Bank approved, against 93% for all home improvement loan lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Salem Five Cents Savings Bank make?
The typical home improvement loan loan Salem Five Cents Savings Bank made was $145K; across all loan types its typical loan ran from $145K to $615K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Salem Five Cents Savings Bank lend?
Salem Five Cents Savings Bank decided applications in 4 of the states Fat Boy Data covers, most of them in Massachusetts, New Hampshire and Maine.
Can I apply to Salem Five Cents Savings Bank directly?
Yes. Salem Five Cents Savings Bank is a bank or credit union with 34 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Salem Five Cents Savings Bank's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Salem Five Cents Savings Bank treats applications, then get a rate quote from the lender.