Harborstone Mortgage Rates, Fees & Info
Lakewood, WALEI: 54930028J11BWKUVGX50
Tax ID: 91-0659059
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Mortgage Data
Review & Overview
Harborstone is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. Harborstone has a high proportion of conventional loans. Their top two markets are Seattle and Olympia .Harborstone 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Harborstone Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
13Origination Dollar Volume (All Markets)
$62,685,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 12 | $62,210,000 | $5,184,167 | $0 | 4.80% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 5.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 13 | $62,685,000 | $4,821,923 | $0 | 4.82% |
For 2018, Harborstone's most frequently originated type of loan was Conventional, with 13 originations.
Loan Reason
For 2018, Harborstone's most frequently cited loan purpose was Home Improvement, with 5 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 7 | $35,325,000 | $5,046,429 | $0 | 4.66% |
| 10 Year | 6 | $27,360,000 | $4,560,000 | $0 | 5.00% |
For 2018, Harborstone's most frequently cited loan duration was Other, with 7 originations. The 2nd most popular length was 10 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 8 | $37,970,000 | $4,746,250 |
| 5-6% | 4 | $18,190,000 | $4,547,500 |
| 3-4% | 1 | $6,525,000 | $6,525,000 |
During 2018, Harborstone's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.
Loan Sizing
2018 saw Harborstone place emphasis on $1MM+ loans with 8 originations, totaling $60,580,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 13 | $62,685,000 | $4,821,923 | $0 | 4.82% |
Approval Rates
Total approvals of all applications99.35%
Harborstone has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.92%
Harborstone has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 13 | $62,685,000 | $4,821,923 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 10 | $61,980,000 | $6,198,000 |
| Single Family (1-4 Units):Site-Built | 3 | $705,000 | $235,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 2 | $9,120,000 | $4,560,000 | $0 | 4.88% |
| 60-80% | 10 | $53,530,000 | $5,353,000 | $0 | 4.76% |
| Under 20% | 1 | $35,000 | $35,000 | $0 | 5.25% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HARBORONE MORTGAGE, LLC | Conventional home mortgage | Trouble during payment process | 4 | 100.0% |