Saco & Biddeford Savings Institution Mortgage Rates, Fees & Info

Saco, ME

LEI: 5493008KJFFG6PYZ5914

Tax ID: 01-0153690

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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% 7/11/24
30 Year Conventional Refi 6.06% 7/11/24
15 Year Conventional Purchase 5.26% 7/11/24
15 Year Conventional Refi 5.35% 7/11/24
15 Year Cash-out Refi 5.35% 7/11/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Saco & Biddeford Savings Institution. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

221

Origination Dollar Volume (All Markets)

$108,685,000

Top 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%
Saco & Biddeford Savings Institution's top markets include Portland, Lewiston, and Augusta among others.

Their top states include:
  • Maine (FHA|USDA|VA)
  • 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.

    Saco Valley Credit Union
    Similarity Rank: 64
    Holy Rosary Regional Credit Union
    Similarity Rank: 104
    Bath Savings Institution
    Similarity Rank: 115
    Norway Savings Bank
    Similarity Rank: 126
    CUMBERLAND COUNTY
    Similarity Rank: 200
    EVERGREEN
    Similarity Rank: 204
    Androscoggin Savings Bank
    Similarity Rank: 235
    University Credit Union
    Similarity Rank: 370
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 372

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 187 $99,275,000 $530,882 $0 0.00%
    Refi 15 $5,645,000 $376,333 $0 0.00%
    Home Improvement 10 $1,330,000 $133,000 $0 0.00%
    Other 9 $2,435,000 $270,556 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 76 $23,220,000 $305,526 $0 0.00%
    $600k-1MM 47 $33,945,000 $722,234 $0 0.00%
    $400k-600k 46 $22,150,000 $481,522 $0 0.00%
    $100k-200k 22 $3,280,000 $149,091 $0 0.00%
    $1MM+ 19 $25,465,000 $1,340,263 $0 0.00%
    $100,000 or less 11 $625,000 $56,818 $0 0.00%

    2023 saw Saco & Biddeford Savings Institution place emphasis on $200k-400k loans with 76 originations, totaling $23,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 81 $59,545,000 $735,123 $0 0.00%
    $150k-250k 64 $28,310,000 $442,344 $0 0.00%
    $100k-150k 36 $10,680,000 $296,667 $0 0.00%
    $75k-100k 19 $4,875,000 $256,579 $0 0.00%
    $50k-75k 11 $1,935,000 $175,909 $0 0.00%
    $50k or less 3 $185,000 $61,667 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 176 $84,310,000 $479,034 $0 0.00%
    Not provided 33 $18,265,000 $553,485 $0 0.00%
    Not applicable 5 $2,395,000 $479,000 $0 0.00%
    Asian 5 $2,235,000 $447,000 $0 0.00%
    Black 2 $1,480,000 $740,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.40%

    Saco & Biddeford Savings Institution has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.64%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    221 $108,685,000 $491,787