Gorham Savings Bank Mortgage Rates, Fees & Info
Gorham, MELEI: DZHW4H2BUS3DOGKT0727
Tax ID: 01-0078890
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Gorham Savings Bank is a smaller bank specializing in Home Improvement, Refi, and Home Purchase loans. Gorham Savings Bank 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.)Gorham Savings Bank 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.
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Originations
550Origination Dollar Volume (All Markets)
$167,130,000Top 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) | 508 | $159,250,000 | $313,484 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 20 | $3,370,000 | $168,500 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 10 | $2,360,000 | $236,000 | $0 | 0.00% |
| Outside of Metro Areas | 12 | $2,150,000 | $179,167 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 550 | $167,130,000 | $303,873 | $0 | 0.00% |
For 2022, Gorham Savings Bank's most frequently originated type of loan was Conventional, with 550 originations.
Loan Reason
For 2022, Gorham Savings Bank's most frequently cited loan purpose was Home Improvement, with 212 originations. The 2nd most popular reason was Refi, with 168 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 550 | $167,130,000 | $303,873 | $0 | 0.00% |
For 2022, Gorham Savings Bank's most frequently cited loan duration was Other, with 550 originations.
Loan Sizing
2022 saw Gorham Savings Bank place emphasis on $200k-400k loans with 164 originations, totaling $46,840,000 in origination value.
Applicant Income
Gorham Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 113 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 550 | $167,130,000 | $303,873 | $0 | 0.00% |
Gorham Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 550 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.03%
Gorham Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.00%
Gorham Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 550 | $167,130,000 | $303,873 |