Harborone Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300DAUXQ2DCY4H838

Tax ID: 04-2802284

5 stars - Updated: 4/14/24 - out of 5 stars, based on 37 reviews

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

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Mortgage Data

Review & Overview

Harborone Mortgage is a smaller mortgage company specializing in Home Purchase loans. Harborone Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Providence, Manchester, Springfield, and New York among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)

Harborone Mortgage 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. Harborone Mortgage is typically an average 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
30 Year Conventional Purchase 6.37% 4/14/24
30 Year Conventional Refi 6.38% 4/14/24
30 Year Cash-out Refi 6.59% 4/14/24
30 Year FHA Purchase 7.41% 4/14/24
30 Year FHA Refi 7.34% 4/14/24
30 Year VA Purchase 6.38% 4/14/24
30 Year VA Refi 5.75% 4/14/24
30 Year USDA Purchase 6.69% 4/14/24
15 Year Conventional Purchase 5.10% 4/14/24
15 Year Conventional Refi 5.96% 4/14/24
15 Year Cash-out Refi 5.96% 4/14/24
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.

Harborone Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Harborone Mortgage. 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

1,393

Origination Dollar Volume (All Markets)

$580,745,000
Show all (7) awards

Relative Rate

Harborone Mortgage's average 30 year fixed mortgage rate was 6.67%.

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

This yields a difference of 0.19%.

Relative Fees (Closing Costs)

Harborone Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $6,584.

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) 407 $213,775,000 $525,246 $6,413 6.47%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 179 $67,145,000 $375,112 $6,707 6.71%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 163 $62,855,000 $385,613 $6,331 6.72%
SPRINGFIELD, MA (FHA|USDA|VA) 176 $54,340,000 $308,750 $6,656 6.69%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 65 $38,515,000 $592,538 $7,386 6.40%
WORCESTER, MA-CT (FHA|USDA|VA) 61 $25,405,000 $416,475 $7,205 6.45%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 63 $24,465,000 $388,333 $6,200 6.88%
Concord, NH (FHA|USDA|VA) 53 $19,485,000 $367,642 $6,718 6.85%
Keene, NH (FHA|USDA|VA) 50 $12,270,000 $245,400 $4,600 6.72%
Outside of Metro Areas 30 $12,160,000 $405,333 $6,091 7.17%
Lebanon, NH-VT (FHA|USDA|VA) 27 $9,825,000 $363,889 $6,733 6.71%
Laconia, NH (FHA|USDA|VA) 20 $8,120,000 $406,000 $7,212 6.87%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $4,685,000 $360,385 $5,693 6.72%
Augusta-Waterville, ME (FHA|USDA|VA) 12 $4,090,000 $340,833 $6,181 7.08%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 12 $3,160,000 $263,333 $6,969 7.01%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $2,340,000 $292,500 $7,556 7.03%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 5 $1,975,000 $395,000 $6,433 7.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,940,000 $485,000 $6,242 6.53%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,700,000 $425,000 $9,274 6.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,265,000 $253,000 $6,988 6.78%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $1,140,000 $285,000 $7,535 7.16%
Barre, VT (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $7,124 6.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $845,000 $281,667 $11,318 6.08%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $795,000 $265,000 $9,814 7.08%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $725,000 $725,000 $5,917 6.50%
BANGOR, ME (FHA|USDA|VA) 3 $715,000 $238,333 $5,812 7.17%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $610,000 $305,000 $10,204 7.25%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $575,000 $575,000 $7,411 6.38%
Berlin, NH (FHA|USDA|VA) 3 $535,000 $178,333 $4,221 6.71%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $475,000 $475,000 $4,665 7.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $405,000 $405,000 $6,362 7.50%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $405,000 $405,000 $8,038 6.63%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $385,000 $385,000 $8,482 7.50%
PITTSFIELD, MA (FHA|USDA|VA) 2 $380,000 $190,000 $7,840 7.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,319 6.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,177 6.50%
PANAMA CITY, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,236 7.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $305,000 $305,000 $4,002 6.75%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $225,000 $225,000 $12,538 6.75%
OCALA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $8,038 6.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,156 6.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $4,107 7.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.50%
Harborone Mortgage's top markets include Boston, Providence, Manchester, Springfield, and New York among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

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

    Florence Bank
    Similarity Rank: 22
    LUSO
    Similarity Rank: 40
    Adams Community Bank
    Similarity Rank: 42
    Greenfield Savings Bank
    Similarity Rank: 45
    OCEAN STATE CREDIT UNION
    Similarity Rank: 45
    The Torrington Savings Bank
    Similarity Rank: 45
    SOMERSET
    Similarity Rank: 48
    Chelsea Groton Bank
    Similarity Rank: 56
    Stafford Savings Bank
    Similarity Rank: 63

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,202 $510,470,000 $424,684 $5,692 6.67%
    FHA 147 $53,665,000 $365,068 $12,577 6.62%
    VA 37 $14,835,000 $400,946 $9,341 6.41%
    USDA 7 $1,775,000 $253,571 $6,547 6.30%

    For 2023, Harborone Mortgage's most frequently originated type of loan was Conventional, with 1,202 originations. Their 2nd most popular type was FHA, with 147 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,277 $545,595,000 $427,247 $6,619 6.63%
    Cash Out Refi 73 $20,555,000 $281,575 $5,400 6.92%
    Refi 32 $11,320,000 $353,750 $5,787 6.65%
    Other 6 $2,170,000 $361,667 $6,121 6.31%
    Home Improvement 5 $1,105,000 $221,000 $4,783 7.28%

    For 2023, Harborone Mortgage's most frequently cited loan purpose was Home Purchase, with 1,277 originations. The 2nd most popular reason was Cash Out Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,354 $569,250,000 $420,421 $6,584 6.67%
    15 Year 27 $8,835,000 $327,222 $4,900 5.84%
    20 Year 8 $1,830,000 $228,750 $4,407 6.64%
    10 Year 2 $370,000 $185,000 $4,469 6.44%
    Other 2 $460,000 $230,000 $4,869 4.88%

    For 2023, Harborone Mortgage's most frequently cited loan duration was 30 Year, with 1,354 originations. The 2nd most popular length was 15 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 758 $330,200,000 $435,620
    $5k+ 208 $92,590,000 $445,144
    $2k-3k 155 $61,455,000 $396,484
    $3k-4k 94 $32,380,000 $344,468
    $4k-5k 86 $32,420,000 $376,977
    $<1k 23 $6,685,000 $290,652

    Harborone Mortgage's average total fees were $6,584, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 758 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 755 $292,405,000 $387,291
    7-8% 406 $159,470,000 $392,783
    5-6% 192 $99,520,000 $518,333
    4-5% 29 $27,805,000 $958,793
    <2.5% 6 $360,000 $60,000
    Over 8% 5 $1,185,000 $237,000

    During 2023, Harborone Mortgage's average interest rate for loans was 6.67%, while their most frequently originated rate bucket for loans was 6-7%, with 755 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 688 $208,790,000 $303,474 $6,235 6.77%
    $400k-600k 320 $153,290,000 $479,031 $7,889 6.72%
    $600k-1MM 171 $124,975,000 $730,848 $7,021 6.38%
    $100k-200k 134 $21,200,000 $158,209 $4,406 6.74%
    $1MM+ 56 $70,880,000 $1,265,714 $7,274 5.95%
    $100,000 or less 24 $1,610,000 $67,083 $2,777 5.43%

    2023 saw Harborone Mortgage place emphasis on $200k-400k loans with 688 originations, totaling $208,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 406 $144,730,000 $356,478 $6,744 6.81%
    $150k-250k 315 $148,755,000 $472,238 $6,979 6.71%
    $250k+ 234 $174,180,000 $744,359 $6,732 6.43%
    $75k-100k 227 $69,315,000 $305,352 $6,403 6.70%
    $50k-75k 171 $38,805,000 $226,930 $5,769 6.54%
    $50k or less 36 $4,880,000 $135,556 $4,484 6.63%

    Harborone Mortgage lent most frequently to those with incomes in the $100k-150k range, with 406 originations. The second most popular income band? $150k-250k, with 315 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 250 $113,350,000 $453,400 $6,099 6.67%
    20-30% 218 $93,530,000 $429,037 $5,535 6.62%
    49% 98 $33,460,000 $341,429 $6,452 6.82%
    44% 70 $26,800,000 $382,857 $6,435 6.80%
    37% 65 $28,965,000 $445,615 $6,840 6.54%
    50-60% 63 $22,905,000 $363,571 $12,197 6.60%
    43% 63 $23,865,000 $378,810 $6,965 6.70%
    42% 62 $25,700,000 $414,516 $6,710 6.72%
    41% 60 $27,940,000 $465,667 $6,655 6.58%
    38% 54 $24,930,000 $461,667 $6,015 6.62%
    47% 51 $19,235,000 $377,157 $5,801 6.73%
    36% 49 $21,195,000 $432,551 $6,023 6.79%
    39% 49 $20,435,000 $417,041 $5,524 6.59%
    46% 49 $17,685,000 $360,918 $7,071 6.78%
    <20% 48 $22,570,000 $470,208 $5,436 6.46%
    45% 47 $19,115,000 $406,702 $8,720 6.76%
    48% 47 $18,325,000 $389,894 $7,103 6.70%
    40% 46 $20,660,000 $449,130 $5,942 6.55%

    Harborone Mortgage lent most frequently to those with DTI ratios of 30-36%, with 250 originations. The next most common DTI ratio? 20-30%, with 218 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,135 $462,225,000 $407,247 $6,461 6.66%
    Not provided 109 $47,015,000 $431,330 $5,738 6.77%
    Black 82 $36,180,000 $441,220 $9,168 6.62%
    Asian 45 $23,925,000 $531,667 $5,854 6.33%
    Asian Indian 13 $7,745,000 $595,769 $5,551 6.53%
    American Indian 5 $1,515,000 $303,000 $7,906 6.78%
    Chinese 2 $1,170,000 $585,000 $4,508 5.93%
    Native Hawaiian or Islander 1 $545,000 $545,000 $9,776 6.75%
    Vietnamese 1 $425,000 $425,000 $4,067 7.00%

    Approval Rates

    Total approvals of all applications
    89.53%

    Harborone Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.27%

    Harborone Mortgage 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 1,393 $580,745,000 $416,902

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,393 $580,745,000 $416,902

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $13,985,000 $208,731 $4,068 6.72%
    40-60% 143 $54,685,000 $382,413 $5,043 6.63%
    60-80% 453 $200,355,000 $442,285 $6,164 6.68%
    80-100% 702 $305,210,000 $434,772 $7,231 6.67%
    Over 100% 14 $5,700,000 $407,143 $12,830 6.52%
    Under 20% 14 $810,000 $57,857 $2,072 4.62%