Harborone Bank Mortgage Rates, Fees & Info
Brockton, MALEI: 549300E0KRXI8PZWAO17
Tax ID: 04-1123040
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Harborone Bank is a smaller bank specializing in Refi and Home Purchase loans. Harborone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, Atlantic City, and Bridgeport among others. We have data for 15 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% | 3/28/23 |
| 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
875Origination Dollar Volume (All Markets)
$353,825,000Top 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) | 502 | $176,030,000 | $350,657 | $0 | 3.51% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 319 | $79,255,000 | $248,448 | $0 | 3.58% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 14 | $44,130,000 | $3,152,143 | $0 | 3.63% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $19,755,000 | $19,755,000 | $0 | 3.25% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $12,160,000 | $6,080,000 | $0 | 4.47% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $8,155,000 | $8,155,000 | $0 | 4.05% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $6,460,000 | $3,230,000 | $0 | 4.32% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 14 | $3,060,000 | $218,571 | $0 | 3.40% |
| Outside of Metro Areas | 1 | $2,505,000 | $2,505,000 | $0 | 3.75% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 7 | $745,000 | $106,429 | $0 | 2.99% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 5 | $515,000 | $103,000 | $0 | 3.64% |
| Concord, NH (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 3.62% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 3.32% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.74% |
| Berlin, NH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.99% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against HarborOne Bank 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 | 834 | $123,530,000 | $148,118 | n/a | 3.48% |
| Conventional | 41 | $230,295,000 | $5,616,951 | $0 | 4.67% |
For 2022, Harborone Bank's most frequently originated type of loan was HELOC, with 834 originations. Their 2nd most popular type was Conventional, with 41 originations.
Loan Reason
For 2022, Harborone Bank's most frequently cited loan purpose was Home Improvement, with 500 originations. The 2nd most popular reason was Other, with 175 originations.
Loan Duration/Length
For 2022, Harborone Bank's most frequently cited loan duration was Other, with 842 originations. The 2nd most popular length was 10 Year, with 27 originations.
Interest Rates
During 2022, Harborone Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 521 originations.
Loan Sizing
2022 saw Harborone Bank place emphasis on $100k-200k loans with 348 originations, totaling $43,260,000 in origination value.
Applicant Income
Harborone Bank lent most frequently to those with incomes in the $150k-250k range, with 233 originations. The second most popular income band? $100k-150k, with 216 originations.
Applicant Debt to Income Ratio
Harborone Bank lent most frequently to those with DTI ratios of 20-30%, with 205 originations. The next most common DTI ratio? 30-36%, with 149 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.41%
Harborone Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination87.43%
Harborone Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 875 | $353,825,000 | $404,371 |