Salem Co-Operative Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
11th26.2% deniedProcesswithdrawn + incomplete share, weight 15%
28th16.9%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 212 | 139 | 14.2% | 17.3% | — | $52M |
| 2024 | 161 | 103 | 22.4% | 24.8% | — | $54M |
| 2025 | 124 | 71 | 21.8% | 26.2% | — | $33M |
What Salem Co-Operative Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 10 investment properties.
Why Salem Co-Operative Bank denies applications
Primary reason reported for each of the 27 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Salem Co-Operative Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 24 | 13 | 33.3% |
| $100k – $150k | 29 | 19 | 26.9% |
| $150k – $250k | 27 | 15 | 23.8% |
| Over $250k | 27 | 16 | 23.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 28 | 18 | 29.6% |
| 35–44 | 23 | 12 | 36.8% |
| 55–64 | 27 | 18 | 5.0% |
Where Salem Co-Operative Bank lends
2 states and 11 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| New Hampshire | 98 | 55 | 22.5% | — | #86 |
| Massachusetts | 26 | 16 | 19.2% | — | #392 |
Frequently asked questions
Salem Co-Operative Bank denied 26.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 11th percentile of small mortgage lenders.
The most common reason Salem Co-Operative Bank gave in 2025 was "debt-to-income ratio", cited on 33.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
In 2025, 51% of its applications were for home purchases, 21% for refinancing (including cash-out), and 28% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.