Hanscom Mortgage Rates, Fees & Info

Bedford, MA

LEI: 5493003B2LEGQHDWRN55

Tax ID: 04-2175534

3.9 stars - Updated: 5/26/24 - out of 5 stars, based on 35 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Hanscom is a smaller mortgage company specializing in Home Improvement, Refi, and Home Purchase loans. Hanscom has an average proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Washington, Barnstable Town, and Manchester among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)

Hanscom has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Hanscom is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.96% 5/26/24
30 Year Conventional Purchase 6.24% 5/26/24
30 Year Conventional Refi 6.11% 5/26/24
30 Year Cash-out Refi 6.38% 5/26/24
30 Year VA Purchase 6.07% 5/26/24
15 Year Conventional Purchase 5.69% 5/26/24
15 Year Conventional Refi 5.69% 5/26/24
15 Year Cash-out Refi 5.69% 5/26/24
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.

Hanscom Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Hanscom. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,220

Origination Dollar Volume (All Markets)

$238,920,000

Awards

HANSCOM 30 Year Conventional Loans gold HANSCOM 30 Year Conventional Loans bronze HANSCOM 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Hanscom's average 30 year fixed mortgage rate was 8.48%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 2%.

Relative Fees (Closing Costs)

Hanscom's average total fees/closing costs for a 30 year fixed rate mortgage were $4,086.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top 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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 785 $155,075,000 $197,548 $3,675 8.53%
WORCESTER, MA-CT (FHA|USDA|VA) 92 $13,960,000 $151,739 $4,337 8.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 70 $12,040,000 $172,000 $7,583 8.29%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 38 $8,940,000 $235,263 $3,307 8.08%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 41 $5,465,000 $133,293 $2,605 8.47%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 36 $4,510,000 $125,278 $2,378 9.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $3,340,000 $238,571 $0 8.95%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 10 $2,610,000 $261,000 $3,467 7.49%
SPRINGFIELD, MA (FHA|USDA|VA) 9 $2,345,000 $260,556 $2,388 7.60%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $2,045,000 $292,143 $6,377 8.73%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $2,020,000 $1,010,000 $8,307 5.94%
Lebanon, NH-VT (FHA|USDA|VA) 5 $1,725,000 $345,000 $3,461 6.70%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 6 $1,640,000 $273,333 $4,435 9.52%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,520,000 $380,000 $8,121 7.50%
PITTSBURGH, PA (FHA|USDA|VA) 3 $1,335,000 $445,000 $6,210 6.79%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,315,000 $438,333 $0 7.92%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $1,225,000 $175,000 $5,681 8.82%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $1,080,000 $540,000 $6,726 5.19%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $1,075,000 $153,571 $0 8.04%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,010,000 $505,000 $0 7.25%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $930,000 $465,000 $6,540 8.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $875,000 $291,667 $6,785 6.25%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $865,000 $288,333 $3,774 6.75%
Concord, NH (FHA|USDA|VA) 6 $850,000 $141,667 $2,945 8.13%
Rutland, VT (FHA|USDA|VA) 2 $700,000 $350,000 $8,069 7.25%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $625,000 $125,000 $0 7.85%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $585,000 $585,000 $3,881 6.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $575,000 $575,000 $6,889 5.38%
COLUMBIA, SC (FHA|USDA|VA) 2 $530,000 $265,000 $7,003 8.00%
Edwards, CO (FHA|USDA|VA) 1 $505,000 $505,000 $0 7.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $450,000 $225,000 $0 8.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $380,000 $190,000 $3,254 7.13%
Vineyard Haven, MA (FHA|USDA|VA) 2 $380,000 $190,000 $0 9.50%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $375,000 $375,000 $3,744 5.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $355,000 $355,000 $3,394 6.75%
Georgetown, SC (FHA|USDA|VA) 2 $310,000 $155,000 $0 7.38%
BOISE CITY, ID (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 11.25%
PITTSFIELD, MA (FHA|USDA|VA) 1 $265,000 $265,000 $2,509 6.50%
BILLINGS, MT (FHA|USDA|VA) 1 $255,000 $255,000 $0 10.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 9.00%
Orangeburg, SC (FHA|USDA|VA) 1 $235,000 $235,000 $3,047 6.38%
Outside of Metro Areas 3 $225,000 $75,000 $0 9.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.25%
Laconia, NH (FHA|USDA|VA) 2 $210,000 $105,000 $0 9.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $205,000 $205,000 $4,173 5.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $175,000 $175,000 $0 9.50%
FLORENCE, SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,717 6.50%
COLUMBUS, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 9.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.50%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 11.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.50%
Heber, UT (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.50%
STAUNTON, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.50%
Barre, VT (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $100,000 $50,000 $0 8.00%
Breckenridge, CO (FHA|USDA|VA) 1 $95,000 $95,000 $0 9.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $85,000 $85,000 $4,218 6.13%
Los Alamos, NM (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 9.25%
LOUISVILLE, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.00%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.63%
LYNCHBURG, VA (FHA|USDA|VA) 1 $65,000 $65,000 $0 11.00%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.75%
Berlin, NH (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
BANGOR, ME (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.00%
Hanscom's top markets include Boston, Worcester, Washington, Barnstable Town, and Manchester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against HANSCOM based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,083 $178,715,000 $165,018 n/a 8.71%
    Conventional 130 $57,930,000 $445,615 $4,253 6.18%
    VA 7 $2,275,000 $325,000 $3,000 6.34%

    For 2023, Hanscom's most frequently originated type of loan was HELOC, with 1,083 originations. Their 2nd most popular type was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 560 $79,320,000 $141,643 $0 8.65%
    Refi 284 $63,250,000 $222,711 $3,582 8.47%
    Home Purchase 192 $66,240,000 $345,000 $4,305 7.47%
    Other 165 $22,555,000 $136,697 $3,574 8.99%
    Cash Out Refi 19 $7,555,000 $397,632 $4,162 6.09%

    For 2023, Hanscom's most frequently cited loan purpose was Home Improvement, with 560 originations. The 2nd most popular reason was Refi, with 284 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,185 $222,645,000 $187,886 $4,086 8.48%
    15 Year 19 $8,365,000 $440,263 $5,472 6.06%
    10 Year 6 $1,650,000 $275,000 $2,643 6.21%
    1 Year 4 $5,230,000 $1,307,500 $0 7.50%
    20 Year 3 $705,000 $235,000 $4,460 6.25%
    Other 3 $325,000 $108,333 $0 9.83%

    For 2023, Hanscom's most frequently cited loan duration was 30 Year, with 1,185 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 88 $37,220,000 $422,955
    $5k+ 9 $4,495,000 $499,444
    $2k-3k 8 $2,470,000 $308,750
    $1k-2k 6 $1,270,000 $211,667
    $3k-4k 5 $1,695,000 $339,000
    $4k-5k 1 $245,000 $245,000

    Hanscom's average total fees were $4,086, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 88 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 621 $97,465,000 $156,948
    7-8% 425 $80,025,000 $188,294
    6-7% 109 $33,585,000 $308,119
    5-6% 60 $26,310,000 $438,500
    4-5% 4 $1,330,000 $332,500

    During 2023, Hanscom's average interest rate for loans was 8.48%, while their most frequently originated rate bucket for loans was Over 8%, with 621 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 386 $51,850,000 $134,326 $3,246 8.62%
    $100,000 or less 369 $23,125,000 $62,669 $2,412 8.83%
    $200k-400k 329 $88,205,000 $268,100 $3,856 8.20%
    $400k-600k 115 $54,715,000 $475,783 $4,195 7.49%
    $600k-1MM 13 $9,415,000 $724,231 $5,801 6.27%
    $1MM+ 8 $11,610,000 $1,451,250 $8,528 6.45%

    2023 saw Hanscom place emphasis on $100k-200k loans with 386 originations, totaling $51,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 436 $83,320,000 $191,101 $3,915 8.39%
    $100k-150k 303 $42,835,000 $141,370 $4,150 8.59%
    $250k+ 289 $83,545,000 $289,083 $5,253 8.39%
    $75k-100k 109 $11,575,000 $106,193 $2,826 8.37%
    $50k-75k 51 $4,455,000 $87,353 $3,606 8.46%
    $50k or less 19 $2,415,000 $127,105 $2,227 8.59%

    Hanscom lent most frequently to those with incomes in the $150k-250k range, with 436 originations. The second most popular income band? $100k-150k, with 303 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 244 $41,860,000 $171,557 $2,740 8.96%
    >60% 203 $39,035,000 $192,291 $0 8.92%
    20-30% 174 $31,820,000 $182,874 $4,016 7.98%
    30-36% 147 $28,065,000 $190,918 $4,029 8.16%
    <20% 57 $11,095,000 $194,649 $4,187 7.45%
    41% 38 $8,020,000 $211,053 $4,213 8.44%
    46% 34 $7,310,000 $215,000 $3,027 8.05%
    40% 32 $6,170,000 $192,813 $3,162 8.34%
    37% 31 $5,795,000 $186,935 $3,028 8.37%
    43% 31 $5,785,000 $186,613 $7,061 8.31%
    44% 29 $8,605,000 $296,724 $5,394 7.71%
    36% 29 $6,075,000 $209,483 $6,046 8.28%
    48% 28 $4,750,000 $169,643 $4,706 8.44%
    45% 26 $5,170,000 $198,846 $3,830 8.79%
    49% 24 $4,550,000 $189,583 $2,515 8.40%
    39% 24 $4,400,000 $183,333 $3,057 8.00%
    42% 22 $4,260,000 $193,636 $7,496 8.42%
    47% 17 $1,795,000 $105,588 $0 9.20%
    38% 13 $2,425,000 $186,538 $8,008 8.57%

    Hanscom lent most frequently to those with DTI ratios of 50-60%, with 244 originations. The next most common DTI ratio? >60%, with 203 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 900 $167,900,000 $186,556 $4,034 8.42%
    Not provided 163 $35,565,000 $218,190 $4,101 8.39%
    Black 79 $10,905,000 $138,038 $4,861 9.03%
    Not applicable 12 $10,660,000 $888,333 $0 6.43%
    Asian 42 $9,410,000 $224,048 $6,301 8.18%
    American Indian 8 $1,460,000 $182,500 $7,222 8.09%
    Asian Indian 6 $1,460,000 $243,333 $2,985 7.75%
    Other Asian 6 $830,000 $138,333 $0 9.58%
    Korean 1 $395,000 $395,000 $8,069 6.50%
    Filipino 2 $270,000 $135,000 $0 9.50%
    Other Pacific Islander 1 $65,000 $65,000 $0 9.00%

    Approval Rates

    Total approvals of all applications
    72.15%

    Hanscom has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.03%

    Hanscom has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,220 $238,920,000 $195,836

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,220 $238,920,000 $195,836

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 408 $89,150,000 $218,505 $3,596 8.60%
    40-60% 95 $31,895,000 $335,737 $3,191 8.23%
    60-80% 65 $27,895,000 $429,154 $4,272 6.54%
    80-100% 48 $23,530,000 $490,208 $4,754 6.25%
    Over 100% 4 $5,350,000 $1,337,500 $0 7.19%
    Under 20% 600 $61,100,000 $101,833 $2,256 8.72%