Harborone Bank Mortgage Rates, Fees & Info

Brockton, MA

LEI: 549300E0KRXI8PZWAO17

Tax ID: 04-1123040

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Mortgage Data

Review & Overview

Harborone Bank is a smaller bank specializing in Home Improvement and Home Purchase loans. Harborone Bank has an average proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, Worcester, and Manchester among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Harborone Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.26% 5/27/24
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 Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Harborone Bank. 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

463

Origination Dollar Volume (All Markets)

$98,185,000

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) 241 $52,235,000 $216,743 $0 7.10%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 198 $42,370,000 $213,990 $0 7.14%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 7 $1,225,000 $175,000 $0 7.35%
WORCESTER, MA-CT (FHA|USDA|VA) 5 $805,000 $161,000 $0 6.99%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $415,000 $138,333 $0 6.32%
Outside of Metro Areas 1 $305,000 $305,000 $0 7.49%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.24%
Concord, NH (FHA|USDA|VA) 2 $220,000 $110,000 $0 7.24%
Laconia, NH (FHA|USDA|VA) 2 $190,000 $95,000 $0 6.99%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $90,000 $45,000 $0 7.24%
PITTSFIELD, MA (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.99%
Harborone Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Manchester among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 458 $72,700,000 $158,734 n/a 7.12%
    Conventional 5 $25,485,000 $5,097,000 $0 6.62%

    For 2023, Harborone Bank's most frequently originated type of loan was HELOC, with 458 originations. Their 2nd most popular type was Conventional, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 266 $38,150,000 $143,421 $0 6.96%
    Other 89 $10,055,000 $112,978 $0 7.02%
    Refi 81 $16,865,000 $208,210 $0 7.76%
    Home Purchase 27 $33,115,000 $1,226,481 $0 7.03%

    For 2023, Harborone Bank's most frequently cited loan purpose was Home Improvement, with 266 originations. The 2nd most popular reason was Other, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 459 $81,245,000 $177,004 $0 7.12%
    10 Year 3 $3,135,000 $1,045,000 $0 6.35%
    3 Year 1 $13,805,000 $13,805,000 $0 7.61%

    For 2023, Harborone Bank's most frequently cited loan duration was Other, with 459 originations. The 2nd most popular length was 10 Year, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 252 $46,530,000 $184,643
    7-8% 111 $35,405,000 $318,964
    5-6% 55 $7,885,000 $143,364
    Over 8% 45 $8,365,000 $185,889

    During 2023, Harborone Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 252 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 194 $24,730,000 $127,474 $0 7.12%
    $100,000 or less 146 $8,220,000 $56,301 $0 7.07%
    $200k-400k 89 $23,295,000 $261,742 $0 7.11%
    $400k-600k 23 $10,845,000 $471,522 $0 7.30%
    $1MM+ 6 $27,210,000 $4,535,000 $0 7.13%
    $600k-1MM 5 $3,885,000 $777,000 $0 7.21%

    2023 saw Harborone Bank place emphasis on $100k-200k loans with 194 originations, totaling $24,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 140 $17,980,000 $128,429 $0 7.07%
    $150k-250k 107 $17,735,000 $165,748 $0 7.17%
    $250k+ 80 $24,690,000 $308,625 $0 7.21%
    $75k-100k 53 $5,395,000 $101,792 $0 7.03%
    $50k-75k 52 $4,950,000 $95,192 $0 7.13%
    $50k or less 24 $1,740,000 $72,500 $0 7.04%

    Harborone Bank lent most frequently to those with incomes in the $100k-150k range, with 140 originations. The second most popular income band? $150k-250k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 91 $14,035,000 $154,231 $0 7.29%
    30-36% 83 $12,965,000 $156,205 $0 7.04%
    44% 52 $8,080,000 $155,385 $0 7.19%
    45% 36 $6,390,000 $177,500 $0 7.00%
    <20% 25 $4,225,000 $169,000 $0 7.24%
    43% 25 $3,785,000 $151,400 $0 6.72%
    39% 24 $3,460,000 $144,167 $0 7.17%
    41% 23 $3,105,000 $135,000 $0 6.94%
    36% 22 $4,210,000 $191,364 $0 7.20%
    42% 21 $2,665,000 $126,905 $0 7.15%
    38% 18 $2,590,000 $143,889 $0 7.10%
    37% 16 $2,540,000 $158,750 $0 7.20%
    40% 14 $2,960,000 $211,429 $0 7.15%
    50-60% 3 $365,000 $121,667 $0 6.66%
    46% 2 $300,000 $150,000 $0 6.49%
    >60% 1 $555,000 $555,000 $0 7.99%
    47% 1 $165,000 $165,000 $0 7.49%
    49% 1 $305,000 $305,000 $0 7.24%

    Harborone Bank lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 30-36%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 385 $61,855,000 $160,662 $0 7.14%
    Not applicable 5 $25,485,000 $5,097,000 $0 6.62%
    Black 40 $4,780,000 $119,500 $0 7.02%
    Not provided 19 $2,615,000 $137,632 $0 7.06%
    Asian 7 $2,365,000 $337,857 $0 6.95%
    Other Pacific Islander 6 $930,000 $155,000 $0 6.82%
    Other Asian 1 $155,000 $155,000 $0 5.99%

    Approval Rates

    Total approvals of all applications
    56.17%

    Harborone Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    82.07%

    Harborone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 463 $98,185,000 $212,063

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    463 $98,185,000 $212,063

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 188 $33,600,000 $178,723 $0 7.07%
    40-60% 43 $15,155,000 $352,442 $0 7.21%
    60-80% 23 $23,535,000 $1,023,261 $0 7.32%
    80-100% 2 $8,760,000 $4,380,000 $0 7.36%
    Under 20% 207 $17,135,000 $82,778 $0 7.11%