Harborone Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300DAUXQ2DCY4H838

Tax ID: 04-2802284

5 stars - out of 5 stars, based on 86 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Harborone Mortgage is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi 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 Portland among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Harborone Mortgage 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. 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 about average 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 6.52% 10/3/22
    30 Year Conventional Refi 6.44% 10/3/22
    30 Year Cash-out Refi 6.60% 10/3/22
    30 Year FHA Purchase 7.39% 10/3/22
    30 Year FHA Refi 6.93% 10/3/22
    30 Year VA Purchase 6.30% 10/3/22
    30 Year VA Refi 5.95% 10/3/22
    30 Year USDA Purchase 6.75% 10/3/22
    30 Year USDA Refi 6.72% 10/3/22
    15 Year Conventional Purchase 5.99% 10/3/22
    15 Year Conventional Refi 6.19% 10/3/22
    15 Year Cash-out Refi 6.19% 10/3/22
    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.


    Originations

    7,437

    Origination Dollar Volume (All Markets)

    $2,460,335,000
    Show all (12) awards

    Relative Rate

    Harborone Mortgage 's average 30 year fixed mortgage rate was 3.05%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Harborone Mortgage 's average total fees/closing costs for a 30 year fixed rate mortgage were $4,218.

    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 $4,750.

    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) 2,550 $997,210,000 $391,063 $3,642 2.92%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1,034 $325,740,000 $315,029 $4,012 2.99%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 744 $217,890,000 $292,863 $3,713 3.02%
    SPRINGFIELD, MA (FHA|USDA|VA) 743 $191,705,000 $258,015 $4,419 2.95%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 535 $163,405,000 $305,430 $3,829 2.93%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 273 $122,575,000 $448,993 $5,535 2.93%
    WORCESTER, MA-CT (FHA|USDA|VA) 260 $79,720,000 $306,615 $3,604 2.87%
    Concord, NH (FHA|USDA|VA) 224 $62,720,000 $280,000 $4,019 2.99%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 117 $48,305,000 $412,863 $3,687 2.86%
    Outside of Metro Areas 143 $40,745,000 $284,930 $4,076 3.01%
    Lebanon, NH-VT (FHA|USDA|VA) 165 $39,305,000 $238,212 $3,762 3.10%
    Keene, NH (FHA|USDA|VA) 155 $35,045,000 $226,097 $4,106 3.06%
    Laconia, NH (FHA|USDA|VA) 90 $25,320,000 $281,333 $3,595 3.05%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 97 $21,575,000 $222,423 $4,388 3.01%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 41 $9,985,000 $243,537 $4,000 3.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 35 $8,325,000 $237,857 $3,652 2.96%
    Vineyard Haven, MA (FHA|USDA|VA) 8 $7,030,000 $878,750 $5,670 2.84%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 21 $5,155,000 $245,476 $4,577 3.17%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 23 $4,925,000 $214,130 $4,378 2.74%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 13 $4,155,000 $319,615 $4,490 3.07%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $4,010,000 $401,000 $5,327 3.06%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 7 $3,835,000 $547,857 $5,532 2.88%
    Berlin, NH (FHA|USDA|VA) 13 $3,535,000 $271,923 $3,855 3.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $3,530,000 $294,167 $4,287 2.82%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 10 $3,250,000 $325,000 $3,828 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 10 $2,850,000 $285,000 $4,389 3.05%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $2,770,000 $277,000 $4,536 2.93%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 10 $2,490,000 $249,000 $4,421 3.00%
    JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,810,000 $452,500 $4,527 2.84%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,600,000 $400,000 $2,476 3.16%
    PITTSFIELD, MA (FHA|USDA|VA) 6 $1,380,000 $230,000 $3,368 2.90%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 3 $1,325,000 $441,667 $3,654 2.92%
    BANGOR, ME (FHA|USDA|VA) 5 $1,295,000 $259,000 $4,572 2.88%
    RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,150,000 $287,500 $1,762 2.84%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $1,140,000 $285,000 $4,322 3.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $1,140,000 $285,000 $4,366 3.19%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,010,000 $252,500 $3,700 3.19%
    Rutland, VT (FHA|USDA|VA) 4 $990,000 $247,500 $3,920 3.34%
    OCALA, FL (FHA|USDA|VA) 2 $900,000 $450,000 $7,173 3.06%
    Torrington, CT (FHA|USDA|VA) 4 $880,000 $220,000 $5,193 2.84%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $835,000 $278,333 $4,330 3.17%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $815,000 $271,667 $3,638 3.00%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $680,000 $340,000 $2,863 2.88%
    Barre, VT (FHA|USDA|VA) 3 $635,000 $211,667 $3,082 3.33%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $565,000 $188,333 $5,172 3.04%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $530,000 $265,000 $4,584 3.06%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $525,000 $525,000 $5,707 2.88%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $435,000 $145,000 $4,291 2.83%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $435,000 $435,000 $4,920 2.88%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $315,000 $315,000 $3,537 3.25%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $305,000 $305,000 $3,825 3.13%
    WILMINGTON, NC (FHA|USDA|VA) 1 $305,000 $305,000 $2,333 3.25%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $245,000 $245,000 $3,590 2.88%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $235,000 $235,000 $7,770 3.25%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,588 3.13%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $7,116 3.63%
    Bennington, VT (FHA|USDA|VA) 1 $195,000 $195,000 $3,895 2.75%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,345 3.00%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,954 2.88%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,330 2.75%
    Sanford, NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,427 3.50%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $145,000 $145,000 $4,194 3.00%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,384 3.13%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $105,000 $105,000 $1,884 3.38%

    Harborone Mortgage 's top markets include Boston, Providence, Manchester, Springfield, and Portland among others.

    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.

    MAINE FAMILY
    Similarity Rank: 12
    SOMERSET
    Similarity Rank: 87
    N C P D Federal Credit Union
    Similarity Rank: 102
    INFINITY Federal Credit Union
    Similarity Rank: 136
    Northfield Savings Bank
    Similarity Rank: 155
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    Middlesex Savings Bank
    Similarity Rank: 174
    CASCO
    Similarity Rank: 226
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 238

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,689 $2,237,415,000 $334,492 $3,491 2.96%
    FHA 511 $148,915,000 $291,419 $8,835 3.00%
    VA 200 $65,550,000 $327,750 $5,726 2.70%
    USDA 37 $8,455,000 $228,514 $6,148 2.87%

    For 2021, Harborone Mortgage 's most frequently originated type of loan was Conventional, with 6,689 originations. Their 2nd most popular type was FHA, with 511 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,159 $1,124,095,000 $355,839 $4,871 3.02%
    Refi 2,585 $816,345,000 $315,801 $3,037 2.82%
    Cash Out Refi 1,642 $505,610,000 $307,923 $3,506 3.04%
    Other 26 $5,940,000 $228,462 $3,201 2.99%
    Home Improvement 25 $8,345,000 $333,800 $4,460 3.21%

    For 2021, Harborone Mortgage 's most frequently cited loan purpose was Home Purchase, with 3,159 originations. The 2nd most popular reason was Refi, with 2,585 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,789 $2,037,645,000 $351,986 $4,218 3.05%
    15 Year 956 $237,100,000 $248,013 $2,880 2.47%
    20 Year 504 $132,130,000 $262,163 $2,971 2.86%
    Other 136 $42,150,000 $309,926 $2,830 2.88%
    10 Year 52 $11,310,000 $217,500 $2,865 2.49%

    For 2021, Harborone Mortgage 's most frequently cited loan duration was 30 Year, with 5,789 originations. The 2nd most popular length was 15 Year, with 956 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 5,927 $1,952,255,000 $329,383
    $<1k 607 $183,235,000 $301,870
    $2k-3k 299 $105,915,000 $354,231
    $3k-4k 138 $54,610,000 $395,725
    $5k+ 68 $36,930,000 $543,088
    $4k-5k 61 $23,235,000 $380,902

    Harborone Mortgage 's average total fees were $4,218, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 5,927 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 3,826 $1,397,290,000 $365,209
    3-4% 2,588 $799,790,000 $309,038
    <2.5% 944 $242,520,000 $256,907
    4-5% 79 $20,735,000 $262,468

    During 2021, Harborone Mortgage 's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3,826 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 4,063 $1,163,485,000 $286,361 $3,918 3.00%
    $100k-200k 1,442 $229,900,000 $159,431 $3,182 2.91%
    $400k-600k 1,232 $590,120,000 $478,994 $4,383 2.93%
    $600k-1MM 444 $324,490,000 $730,833 $4,986 2.94%
    $100,000 or less 148 $9,670,000 $65,338 $2,197 2.62%
    $1MM+ 108 $142,670,000 $1,321,019 $6,541 2.92%

    2021 saw Harborone Mortgage place emphasis on $200k-400k loans with 4,063 originations, totaling $1,163,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,794 $587,840,000 $327,670 $3,805 2.96%
    $50k-75k 1,477 $344,405,000 $233,179 $3,986 3.01%
    $75k-100k 1,433 $403,435,000 $281,532 $3,985 2.99%
    $150k-250k 1,423 $582,705,000 $409,491 $3,900 2.92%
    $250k+ 672 $427,960,000 $636,845 $4,398 2.91%
    $50k or less 535 $94,045,000 $175,785 $3,926 2.99%

    Harborone Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,794 originations. The second most popular income band? $50k-75k, with 1,477 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,737 $604,025,000 $347,740 $3,605 2.90%
    30-36% 1,374 $475,110,000 $345,786 $3,773 2.98%
    <20% 554 $195,090,000 $352,148 $3,386 2.83%
    43% 306 $86,940,000 $284,118 $4,007 3.10%
    40% 303 $102,605,000 $338,630 $4,079 3.00%
    44% 299 $92,805,000 $310,385 $4,088 3.06%
    39% 287 $94,395,000 $328,902 $3,954 3.02%
    41% 285 $91,325,000 $320,439 $4,103 3.00%
    37% 283 $95,955,000 $339,064 $4,013 3.00%
    42% 278 $99,830,000 $359,101 $4,083 3.00%
    36% 277 $91,195,000 $329,224 $3,877 3.01%
    38% 266 $84,800,000 $318,797 $4,051 2.97%
    45% 201 $60,265,000 $299,826 $4,285 3.04%
    49% 200 $57,000,000 $285,000 $4,355 3.01%
    48% 190 $58,830,000 $309,632 $4,709 2.99%
    46% 172 $53,480,000 $310,930 $4,419 3.03%
    47% 169 $50,175,000 $296,893 $4,265 2.99%
    50-60% 148 $45,140,000 $305,000 $8,150 2.93%
    >60% 4 $1,240,000 $310,000 $2,289 3.00%

    Harborone Mortgage lent most frequently to those with DTI ratios of 20-30%, with 1,737 originations. The next most common DTI ratio? 30-36%, with 1,374 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6,159 $2,011,865,000 $326,654 $3,858 2.96%
    Not provided 684 $232,250,000 $339,547 $4,094 2.92%
    Black 334 $110,180,000 $329,880 $4,746 3.02%
    Asian 197 $78,705,000 $399,518 $3,958 2.90%
    Asian Indian 22 $14,510,000 $659,545 $4,627 2.91%
    American Indian 17 $5,075,000 $298,529 $5,326 3.10%
    Other Asian 10 $3,180,000 $318,000 $4,990 2.99%
    Native Hawaiian or Islander 3 $1,215,000 $405,000 $3,789 2.67%
    Chinese 2 $970,000 $485,000 $2,574 2.88%
    Other Pacific Islander 4 $830,000 $207,500 $3,871 2.91%
    Japanese 2 $730,000 $365,000 $3,572 2.69%
    Korean 1 $325,000 $325,000 $2,706 3.00%
    Filipino 1 $315,000 $315,000 $2,537 2.75%
    Samoan 1 $185,000 $185,000 $2,949 4.25%

    Approval Rates

    Total approvals of all applications
    94.38%

    Harborone Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.82%

    Harborone Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,437 $2,460,335,000 $330,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    7,437 $2,460,335,000 $330,824

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 472 $99,690,000 $211,208 $2,944 2.74%
    40-60% 1,526 $439,930,000 $288,290 $3,048 2.81%
    60-80% 2,945 $1,052,575,000 $357,411 $3,588 3.03%
    80-100% 2,395 $852,195,000 $355,823 $5,037 3.03%
    Over 100% 34 $11,900,000 $350,000 $10,256 2.94%
    Under 20% 65 $4,045,000 $62,231 $1,218 2.25%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HARBORONE MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    HARBORONE MORTGAGE, LLC Other type of mortgage Trouble during payment process 1 33.3%
    HARBORONE MORTGAGE, LLC VA mortgage Trouble during payment process 1 33.3%