Harborone Bank Mortgage Rates, Fees & Info
Brockton, MALEI: 549300E0KRXI8PZWAO17
Tax ID: 04-1123040
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Mortgage Data
Review & Overview
Harborone Bank is a smaller bank specializing in Home Improvement and Refi loans. Harborone Bank has a low ratio of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, Manchester, and Worcester among others. We have data for 10 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) | 5.66% | 5/25/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
457Origination Dollar Volume (All Markets)
$83,895,000Top 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) | 253 | $45,235,000 | $178,794 | $0 | 7.24% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 177 | $34,065,000 | $192,458 | $0 | 7.28% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $0 | 7.42% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 8 | $1,060,000 | $132,500 | $0 | 7.46% |
| Outside of Metro Areas | 3 | $845,000 | $281,667 | $0 | 7.24% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 7.62% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $240,000 | $60,000 | $0 | 6.80% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.99% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.74% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.74% |
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 | 451 | $80,565,000 | $178,636 | n/a | 7.26% |
| Conventional | 6 | $3,330,000 | $555,000 | $0 | 6.87% |
For 2024, Harborone Bank's most frequently originated type of loan was HELOC, with 451 originations. Their 2nd most popular type was Conventional, with 6 originations.
Loan Reason
For 2024, Harborone Bank's most frequently cited loan purpose was Home Improvement, with 227 originations. The 2nd most popular reason was Refi, with 113 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 451 | $80,565,000 | $178,636 | $0 | 7.26% |
| 10 Year | 5 | $2,375,000 | $475,000 | $0 | 6.86% |
| 5 Year | 1 | $955,000 | $955,000 | $0 | 6.96% |
For 2024, Harborone Bank's most frequently cited loan duration was Other, with 451 originations. The 2nd most popular length was 10 Year, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 348 | $59,810,000 | $171,868 |
| Over 8% | 78 | $15,730,000 | $201,667 |
| 7-8% | 31 | $8,355,000 | $269,516 |
During 2024, Harborone Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 348 originations.
Loan Sizing
2024 saw Harborone Bank place emphasis on $100k-200k loans with 163 originations, totaling $20,715,000 in origination value.
Applicant Income
Harborone Bank lent most frequently to those with incomes in the $150k-250k range, with 123 originations. The second most popular income band? $100k-150k, with 104 originations.
Applicant Debt to Income Ratio
Harborone Bank lent most frequently to those with DTI ratios of 44%, with 75 originations. The next most common DTI ratio? 20-30%, with 74 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications54.93%
Harborone Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination84.25%
Harborone Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 457 | $83,895,000 | $183,578 |