Harborone Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300DAUXQ2DCY4H838

Tax ID: 04-2802284

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Harborone Mortgage is a small mortgage company specializing in Home Purchase and 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 New York among others. We have data for 41 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 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 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 6.37% 11/21/24
    30 Year Conventional Refi 6.38% 11/21/24
    30 Year Cash-out Refi 6.59% 11/21/24
    30 Year FHA Purchase 7.41% 11/21/24
    30 Year FHA Refi 7.34% 11/21/24
    30 Year VA Purchase 6.38% 11/21/24
    30 Year VA Refi 5.75% 11/21/24
    30 Year USDA Purchase 6.69% 11/21/24
    15 Year Conventional Purchase 5.10% 11/21/24
    15 Year Conventional Refi 5.96% 11/21/24
    15 Year Cash-out Refi 5.96% 11/21/24
    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

    4,709

    Origination Dollar Volume (All Markets)

    $1,332,515,000
    Show all (6) awards

    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) 1,440 $477,510,000 $331,604 $4,066 4.01%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 668 $186,640,000 $279,401 $4,493 4.19%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 545 $140,765,000 $258,284 $4,185 4.14%
    SPRINGFIELD, MA (FHA|USDA|VA) 479 $111,785,000 $233,372 $4,508 4.07%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 292 $98,480,000 $337,260 $5,815 4.11%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 288 $79,790,000 $277,049 $4,001 3.95%
    Concord, NH (FHA|USDA|VA) 185 $45,005,000 $243,270 $4,562 4.17%
    WORCESTER, MA-CT (FHA|USDA|VA) 146 $38,990,000 $267,055 $3,858 3.93%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 92 $29,600,000 $321,739 $3,546 4.15%
    Lebanon, NH-VT (FHA|USDA|VA) 137 $26,735,000 $195,146 $4,042 4.21%
    Outside of Metro Areas 94 $20,840,000 $221,702 $3,706 4.09%
    Keene, NH (FHA|USDA|VA) 96 $19,160,000 $199,583 $4,976 4.35%
    Laconia, NH (FHA|USDA|VA) 73 $17,955,000 $245,959 $4,229 4.17%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 47 $8,335,000 $177,340 $4,377 4.18%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 29 $6,365,000 $219,483 $4,485 4.09%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $2,085,000 $297,857 $5,072 4.25%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $1,960,000 $490,000 $3,765 3.78%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 9 $1,845,000 $205,000 $4,095 3.79%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 7 $1,825,000 $260,714 $3,874 4.05%
    Augusta-Waterville, ME (FHA|USDA|VA) 10 $1,650,000 $165,000 $4,688 4.20%
    OCEAN CITY, NJ (FHA|USDA|VA) 4 $1,510,000 $377,500 $4,504 3.56%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $1,475,000 $295,000 $3,418 4.20%
    PITTSFIELD, MA (FHA|USDA|VA) 4 $1,330,000 $332,500 $5,003 3.88%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $1,170,000 $292,500 $5,774 4.00%
    Torrington, CT (FHA|USDA|VA) 6 $1,160,000 $193,333 $3,672 4.17%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,155,000 $231,000 $4,140 3.97%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 5 $955,000 $191,000 $4,935 3.95%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $875,000 $291,667 $5,924 3.87%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $800,000 $200,000 $3,518 3.75%
    Berlin, NH (FHA|USDA|VA) 5 $655,000 $131,000 $3,633 3.73%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $600,000 $300,000 $4,427 4.00%
    Barre, VT (FHA|USDA|VA) 2 $580,000 $290,000 $3,182 4.19%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,050 4.25%
    BANGOR, ME (FHA|USDA|VA) 3 $485,000 $161,667 $5,208 4.21%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $465,000 $465,000 $6,650 3.88%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $3,255 3.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $3,943 3.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,146 3.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,944 4.25%
    NEW BERN, NC (FHA|USDA|VA) 1 $195,000 $195,000 $1,997 3.63%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,915 4.00%
    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)
  • New Jersey (FHA|USDA|VA)
  • Maine (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.

    MAINE FAMILY
    Similarity Rank: 6
    SOMERSET
    Similarity Rank: 26
    The Torrington Savings Bank
    Similarity Rank: 45
    Piscataqua Savings Bank
    Similarity Rank: 52
    N C P D Federal Credit Union
    Similarity Rank: 56
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Florence Bank
    Similarity Rank: 96
    Schuyler Savings Bank
    Similarity Rank: 104
    SIKORSKY FINANCIAL
    Similarity Rank: 115
    Northfield Savings Bank
    Similarity Rank: 115

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,710 $1,075,770,000 $289,965 $3,514 4.04%
    FHA 717 $178,125,000 $248,431 $7,965 4.34%
    VA 218 $66,350,000 $304,358 $5,093 3.98%
    USDA 64 $12,270,000 $191,719 $5,334 4.08%

    For 2019, Harborone Mortgage's most frequently originated type of loan was Conventional, with 3,710 originations. Their 2nd most popular type was FHA, with 717 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,950 $802,140,000 $271,912 $4,791 4.17%
    Refi 1,040 $330,780,000 $318,058 $3,299 3.79%
    Cash Out Refi 695 $194,535,000 $279,906 $3,844 4.15%
    Other 22 $4,100,000 $186,364 $2,994 4.22%
    Home Improvement 2 $960,000 $480,000 $4,388 4.06%

    For 2019, Harborone Mortgage's most frequently cited loan purpose was Home Purchase, with 2,950 originations. The 2nd most popular reason was Refi, with 1,040 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,202 $1,209,510,000 $287,842 $4,474 4.16%
    15 Year 333 $78,745,000 $236,471 $2,874 3.29%
    20 Year 129 $33,045,000 $256,163 $3,147 3.90%
    Other 25 $8,485,000 $339,400 $3,257 3.77%
    10 Year 20 $2,730,000 $136,500 $3,170 3.64%

    For 2019, Harborone Mortgage's most frequently cited loan duration was 30 Year, with 4,202 originations. The 2nd most popular length was 15 Year, with 333 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,725 $1,048,855,000 $281,572
    $<1k 548 $156,300,000 $285,219
    $2k-3k 158 $50,750,000 $321,203
    $3k-4k 64 $21,860,000 $341,563
    $5k+ 36 $13,950,000 $387,500
    $4k-5k 26 $9,400,000 $361,538

    Harborone Mortgage's average total fees were $4,474, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,725 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,532 $775,750,000 $306,378
    4-5% 1,864 $493,240,000 $264,614
    5-6% 260 $57,930,000 $222,808
    <2.5% 35 $275,000 $7,857
    2.5-3% 18 $5,320,000 $295,556

    During 2019, Harborone Mortgage's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 2,532 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,601 $736,505,000 $283,162 $4,501 4.09%
    $100k-200k 1,188 $188,250,000 $158,460 $3,835 4.23%
    $400k-600k 594 $276,240,000 $465,051 $4,654 3.91%
    $100,000 or less 173 $11,165,000 $64,538 $2,356 3.69%
    $600k-1MM 128 $88,940,000 $694,844 $5,274 3.90%
    $1MM+ 25 $31,415,000 $1,256,600 $5,860 3.90%

    2019 saw Harborone Mortgage place emphasis on $200k-400k loans with 2,601 originations, totaling $736,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,080 $328,900,000 $304,537 $4,321 4.08%
    $50k-75k 1,075 $225,915,000 $210,153 $4,535 4.16%
    $75k-100k 992 $256,040,000 $258,105 $4,491 4.13%
    $150k-250k 762 $284,730,000 $373,661 $4,065 4.00%
    $50k or less 447 $71,285,000 $159,474 $4,061 4.16%
    $250k+ 289 $148,755,000 $514,723 $4,160 3.91%

    Harborone Mortgage lent most frequently to those with incomes in the $100k-150k range, with 1,080 originations. The second most popular income band? $50k-75k, with 1,075 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 894 $261,830,000 $292,875 $3,994 4.06%
    20-30% 827 $254,685,000 $307,963 $3,630 3.96%
    50-60% 222 $57,980,000 $261,171 $7,667 4.33%
    <20% 221 $61,305,000 $277,398 $3,408 3.87%
    43% 210 $54,720,000 $260,571 $4,380 4.16%
    42% 209 $58,095,000 $277,967 $4,414 4.15%
    44% 208 $54,150,000 $260,337 $4,389 4.17%
    40% 197 $55,645,000 $282,462 $4,367 4.19%
    41% 193 $52,355,000 $271,269 $4,357 4.12%
    38% 183 $55,085,000 $301,011 $4,389 4.05%
    45% 176 $47,540,000 $270,114 $4,761 4.15%
    39% 169 $46,445,000 $274,822 $4,132 4.10%
    36% 167 $49,185,000 $294,521 $4,061 4.09%
    49% 166 $44,330,000 $267,048 $4,669 4.21%
    37% 163 $46,085,000 $282,730 $4,425 4.14%
    47% 145 $36,395,000 $251,000 $4,996 4.25%
    46% 137 $37,155,000 $271,204 $4,905 4.24%
    48% 128 $33,320,000 $260,313 $4,503 4.11%
    >60% 3 $685,000 $228,333 $2,520 3.42%

    Harborone Mortgage lent most frequently to those with DTI ratios of 30-36%, with 894 originations. The next most common DTI ratio? 20-30%, with 827 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,987 $1,124,585,000 $282,063 $4,254 4.08%
    Not provided 415 $120,385,000 $290,084 $4,363 4.06%
    Black 196 $51,600,000 $263,265 $5,260 4.20%
    Asian 96 $32,020,000 $333,542 $4,654 4.09%
    American Indian 8 $2,120,000 $265,000 $4,384 3.83%
    Asian Indian 3 $925,000 $308,333 $3,358 4.13%
    Other Asian 2 $370,000 $185,000 $3,194 3.94%
    Native Hawaiian or Islander 1 $255,000 $255,000 $8,273 3.75%
    Vietnamese 1 $255,000 $255,000 $0 5.13%

    Approval Rates

    Total approvals of all applications
    92.99%

    Harborone Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.03%

    Harborone Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,709 $1,332,515,000 $282,972

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 19 $2,595,000 $136,579
    Single Family (1-4 Units):Site-Built 4,690 $1,329,920,000 $283,565

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 133 $22,975,000 $172,744 $3,036 3.85%
    40-60% 422 $104,160,000 $246,825 $3,271 3.85%
    60-80% 1,558 $470,720,000 $302,131 $3,535 4.07%
    80-100% 2,476 $713,000,000 $287,964 $4,977 4.18%
    Over 100% 64 $19,370,000 $302,656 $8,260 4.14%
    Under 20% 56 $2,290,000 $40,893 $1,146 2.35%

    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%