Salem Five Mortgage Company at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
47th11.0% deniedPricingmedian rate spread over APOR, weight 30%
79th0.03 ptsProcesswithdrawn + incomplete share, weight 15%
74th11.9%Closing coststotal loan costs ÷ loan amount, weight 10%
91st0.97% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,522 | 1,124 | 8.6% | 10.4% | 6.38% | $527M |
| 2024 | 1,804 | 1,392 | 10.6% | 12.0% | 6.50% | $710M |
| 2025 | 1,728 | 1,342 | 9.7% | 11.0% | 6.25% | $733M |
What Salem Five Mortgage Company 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, 2 manufactured homes, 72 investment properties.
Why Salem Five Mortgage Company denies applications
Primary reason reported for each of the 168 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Salem Five Mortgage Company
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 26 | 12 | 45.5% |
| $50k – $100k | 288 | 204 | 19.5% |
| $100k – $150k | 435 | 343 | 11.8% |
| $150k – $250k | 517 | 410 | 9.6% |
| Over $250k | 448 | 369 | 3.1% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 43 | 32 | 20.0% |
| 25–34 | 523 | 423 | 7.4% |
| 35–44 | 514 | 391 | 11.2% |
| 45–54 | 281 | 210 | 14.6% |
| 55–64 | 230 | 178 | 12.1% |
| 65–74 | 110 | 88 | 11.0% |
| Over 74 | 27 | 20 | 16.7% |
Where Salem Five Mortgage Company lends
5 states and 43 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 1,525 | 1,194 | 9.1% | 6.25% | #28 |
| New Hampshire | 142 | 105 | 15.5% | 6.50% | #70 |
| Maine | 24 | 20 | 8.3% | 6.50% | #162 |
| Rhode Island | 24 | 17 | 0.0% | 6.25% | #136 |
| Florida | 13 | 6 | 38.5% | 6.25% | #862 |
Frequently asked questions
Salem Five Mortgage Company denied 11.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 47th percentile of mid-size mortgage lenders.
The most common reason Salem Five Mortgage Company gave in 2025 was "debt-to-income ratio", cited on 45.8% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Salem Five Mortgage Company originated in 2025 was 6.25%, and its median rate spread over the average prime offer rate was 0.03 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 85% of its applications were for home purchases, 14% for refinancing (including cash-out), and 2% for home improvement or other purposes. By loan type: 92% conventional, 7% FHA, 1% 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.