Maine Mortgage Lending
459 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 54,849 HMDA-reported mortgage applications in Maine in 2024, originating 31,775 loans and denying 8,806. That puts the statewide denial rate at 16.1% and the approval (origination) rate at 57.9%. The average loan amount across Maine was $255,119 at an average note rate of 7.31%. 459 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 16 counties and 4 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 63.3% and denial rate of 16.2%; while Black or African American applicants had an approval rate of 50.3% and denial rate of 22.5%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Cumberland County, York County, Penobscot County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in Maine
Top HMDA-reporting lenders active in Maine. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | BANGOR SAVINGS BANK | 3,031 | 9.5% |
| 2 | United Wholesale Mortgage | 1,690 | 5.3% |
| 3 | THE CAMDEN NATIONAL BANK | 1,582 | 5.0% |
| 4 | ROCKET MORTGAGE | 1,472 | 4.6% |
| 5 | GUILD MORTGAGE COMPANY | 1,343 | 4.2% |
Lending by Race in Maine
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 41,464 | 63.3% | 16.2% |
| Black or African American | 853 | 50.3% | 22.5% |
| Joint | 774 | 64.9% | 14.1% |
| Asian | 605 | 56.0% | 19.5% |
| American Indian or Alaska Native | 256 | 47.3% | 26.9% |
| Native Hawaiian or Other Pacific Islander | 48 | 52.1% | 27.1% |
| 2 or more minority races | 44 | 47.7% | 25.0% |
Counties in Maine
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Cumberland County | 11,997 | 7,240 | 13.9% | $326,316 |
| York County | 10,690 | 6,147 | 16.1% | $293,580 |
| Penobscot County | 5,571 | 3,313 | 16.5% | $191,184 |
| Kennebec County | 4,866 | 2,950 | 14.2% | $209,367 |
| Androscoggin County | 4,277 | 2,451 | 15.0% | $237,352 |
| Oxford County | 2,342 | 1,257 | 19.1% | $236,285 |
| Hancock County | 2,318 | 1,382 | 18.2% | $263,947 |
| Aroostook County | 1,933 | 1,077 | 21.7% | $139,056 |
| Somerset County | 1,769 | 1,002 | 17.8% | $177,120 |
| Waldo County | 1,628 | 880 | 19.1% | $213,943 |
| Knox County | 1,557 | 879 | 17.0% | $262,502 |
| Lincoln County | 1,450 | 839 | 15.3% | $256,041 |
| Sagadahoc County | 1,400 | 804 | 15.7% | $263,257 |
| Washington County | 1,037 | 566 | 21.4% | $166,080 |
| Franklin County | 996 | 565 | 15.3% | $239,558 |
| Piscataquis County | 746 | 435 | 16.1% | $172,815 |
Metro Areas in Maine
Frequently Asked Questions
How many mortgage applications were filed in Maine?
What is the mortgage denial rate in Maine?
What is the average mortgage loan amount in Maine?
How many mortgage lenders operate in Maine?
How do mortgage denial rates vary by demographics in Maine?
Which counties in Maine have the most mortgage activity?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
