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 NA, Refi, and Cash Out Refi loans. Harborstone has a high proportion of conventional loans. Their top (well, only) market is Seattle.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
9Origination Dollar Volume (All Markets)
$23,015,000Top 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) | 9 | $23,015,000 | $2,557,222 | $0 | 4.95% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 9 | $23,015,000 | $2,557,222 | $0 | 4.95% |
For 2019, Harborstone's most frequently originated type of loan was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| NA | 3 | $10,535,000 | $3,511,667 | $0 | 5.13% |
| Refi | 3 | $6,605,000 | $2,201,667 | $0 | 4.38% |
| Cash Out Refi | 3 | $5,875,000 | $1,958,333 | $0 | 5.75% |
For 2019, Harborstone's most frequently cited loan purpose was NA, with 3 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
For 2019, Harborstone's most frequently cited loan duration was 10 Year, with 6 originations. The 2nd most popular length was 3 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 3 | $4,455,000 | $1,485,000 |
| 5-6% | 2 | $12,400,000 | $6,200,000 |
During 2019, Harborstone's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $1MM+ | 5 | $19,735,000 | $3,947,000 | $0 | 5.13% |
| $600k-1MM | 4 | $3,280,000 | $820,000 | $0 | 4.25% |
2019 saw Harborstone place emphasis on $1MM+ loans with 5 originations, totaling $19,735,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 9 | $23,015,000 | $2,557,222 | $0 | 4.95% |
Approval Rates
Total approvals of all applications99.58%
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 origination66.67%
Harborstone has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9 | $23,015,000 | $2,557,222 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 8 | $19,260,000 | $2,407,500 |
| Single Family (1-4 Units):Site-Built | 1 | $3,755,000 | $3,755,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 2 | $1,670,000 | $835,000 | $0 | 0.00% |
| 60-80% | 3 | $9,805,000 | $3,268,333 | $0 | 4.75% |
| Over 100% | 1 | $3,755,000 | $3,755,000 | $0 | 0.00% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HARBORONE MORTGAGE, LLC | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| HARBORONE MORTGAGE, LLC | VA mortgage | Trouble during payment process | 1 | 33.3% |