Saco & Biddeford Savings Institution Mortgage Rates, Fees & Info
Saco, MELEI: 5493008KJFFG6PYZ5914
Tax ID: 01-0153690
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Saco & Biddeford Savings Institution is a smaller mortgage company specializing in Home Purchase loans. Saco & Biddeford Savings Institution has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, and Augusta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Saco & Biddeford Savings Institution has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.00% | 11/21/24 |
| 30 Year Conventional Refi | 6.06% | 11/21/24 |
| 15 Year Conventional Purchase | 5.26% | 11/21/24 |
| 15 Year Conventional Refi | 5.35% | 11/21/24 |
| 15 Year Cash-out Refi | 5.35% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Saco & Biddeford Savings Institution Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
221Origination Dollar Volume (All Markets)
$108,685,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 212 | $104,010,000 | $490,613 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 6 | $2,170,000 | $361,667 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 1 | $2,145,000 | $2,145,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $360,000 | $180,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Saco & Biddeford Savings Institution based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 221 | $108,685,000 | $491,787 | $0 | 0.00% |
For 2023, Saco & Biddeford Savings Institution's most frequently originated type of loan was Conventional, with 221 originations.
Loan Reason
For 2023, Saco & Biddeford Savings Institution's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 221 | $108,685,000 | $491,787 | $0 | 0.00% |
For 2023, Saco & Biddeford Savings Institution's most frequently cited loan duration was Other, with 221 originations.
Loan Sizing
2023 saw Saco & Biddeford Savings Institution place emphasis on $200k-400k loans with 76 originations, totaling $23,220,000 in origination value.
Applicant Income
Saco & Biddeford Savings Institution lent most frequently to those with incomes in the $250k+ range, with 81 originations. The second most popular income band? $150k-250k, with 64 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 221 | $108,685,000 | $491,787 | $0 | 0.00% |
Saco & Biddeford Savings Institution lent most frequently to those with DTI ratios of Exempt%, with 221 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.40%
Saco & Biddeford Savings Institution has an average approval rate.
Pick Rate
Approvals leading to origination79.64%
Saco & Biddeford Savings Institution has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 221 | $108,685,000 | $491,787 |