PlainLender

Main Street Bank

Marlborough, MA

Main Street Bank processed 374 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 244 loans with a 11.2% denial rate. Home Purchase was the primary loan purpose. Based in Marlborough, MA. The approval rate of 65.2% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Main Street Bank's 65.2% origination rate tells you how often an application turned into funded money; the 11.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (374 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

374
Applications
244
Originated
11.2%
Denial Rate
$273,797
Avg Loan Amount
Avg Interest Rate: 7.635% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 374 244 42 $273,797

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Main Street Bank (LEI: 549300CPZ5G5IZWT7878) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Credit history
23
Debt-to-income ratio
17
Collateral
6
Insufficient cash
1
Other
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 121 57 $465,661
Home Improvement 121 77 $133,926
Other 65 57 $182,538
Refinancing 53 43 $241,792
Cash-out Refinancing 14 10 $369,286

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 258 67.4% 9.3%
Asian * 15 20.0% 20.0%
Black or African American * 6 33.3% 16.7%
Joint * 5 40.0% 20.0%
Native Hawaiian or Other Pacific Islander * 1 100.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 248 64.1% 10.5%
Hispanic or Latino * 12 58.3% 33.3%
Joint * 4 25.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in MA

Other HMDA-reporting lenders in MA with similar activity. Compare any two side-by-side.

Digital Federal Credit Union

Marlborough, MA

11,503 apps 4,232 originated 23.0% denied

Leader Bank NA

Arlington, MA

6,683 apps 5,398 originated 2.6% denied

Rockland Trust Bank

BROCKTON, MA

5,681 apps 2,932 originated 30.2% denied

Eastern Bank

Lynn, MA

5,146 apps 3,130 originated 29.4% denied

Cape Cod Five Cents Savings Bank

HYANNIS, MA

2,836 apps 2,014 originated 10.2% denied
Compare Main Street Bank vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Main Street Bank process?
Main Street Bank processed 374 mortgage applications in the 2024 HMDA reporting year. Of these, 244 were originated (approved and funded), 25 were withdrawn by the applicant, and 42 were denied.
What is Main Street Bank's mortgage approval rate?
Main Street Bank has an approval (origination) rate of 65.2%, meaning 65.2% of all applications resulted in a funded mortgage. The denial rate is 11.2%.
What is the average loan amount at Main Street Bank?
The average mortgage loan amount at Main Street Bank is $273,797. The average interest rate is 7.635%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at Main Street Bank?
The most common reasons for mortgage denial at Main Street Bank are: Credit history, Debt-to-income ratio, Collateral. In total, 42 applications were denied out of 374 total applications.
What types of mortgage loans does Main Street Bank offer?
Main Street Bank processes Conventional loans. The most common type is Conventional with 374 applications and an average loan amount of $273,797.
What loan purposes does Main Street Bank serve?
Main Street Bank serves the following loan purposes: Home Purchase (121 applications), Home Improvement (121 applications), Other (65 applications), Refinancing (53 applications), Cash-out Refinancing (14 applications). Home Purchase is the most common purpose.
Where is Main Street Bank located?
Main Street Bank is headquartered in Marlborough, MA. The lender is identified by LEI 549300CPZ5G5IZWT7878 in HMDA data.
How does Main Street Bank compare in lending across racial demographics?
Main Street Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 67.4% and denial rate of 9.3%; Asian applicants have an approval rate of 20.0% and denial rate of 20.0%; Black or African American applicants have an approval rate of 33.3% and denial rate of 16.7%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.