Blueharbor Bank Mortgage Rates, Fees & Info
Mooresville, NCLEI: 549300MW4XR7DUGZXU81
Tax ID: 26-1665679
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Mortgage Data
Review & Overview
Blueharbor Bank is a smaller bank specializing in Home Purchase loans. Blueharbor Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Hickory, Winston, Raleigh, and Albemarle among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Blueharbor Bank has an above average approval rate when compared to the average across all lenders.
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Originations
67Origination Dollar Volume (All Markets)
$19,415,000Top 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 58 | $17,140,000 | $295,517 | $4,028 | 5.56% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $0 | 5.08% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 5.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $12,655 | 4.50% |
| Albemarle, NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 6.00% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $18,475,000 | $293,254 | $6,904 | 5.52% |
| Reverse Mortgage | 3 | $615,000 | $205,000 | $0 | 5.58% |
| HELOC | 1 | $325,000 | $325,000 | n/a | 6.08% |
For 2019, Blueharbor Bank's most frequently originated type of loan was Conventional, with 63 originations. Their 2nd most popular type was Reverse Mortgage, with 3 originations.
Loan Reason
For 2019, Blueharbor Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 65 | $19,215,000 | $295,615 | $6,904 | 5.53% |
| 5 Year | 2 | $200,000 | $100,000 | $0 | 5.63% |
For 2019, Blueharbor Bank's most frequently cited loan duration was Other, with 65 originations. The 2nd most popular length was 5 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $1,535,000 | $511,667 |
Blueharbor Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 40 | $8,730,000 | $218,250 |
| 4-5% | 20 | $9,640,000 | $482,000 |
| 6-7% | 7 | $1,045,000 | $149,286 |
During 2019, Blueharbor Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 40 originations.
Loan Sizing
2019 saw Blueharbor Bank place emphasis on $100k-200k loans with 21 originations, totaling $2,855,000 in origination value.
Applicant Income
Blueharbor Bank lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $250k+, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Blueharbor Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 67 | $19,415,000 | $289,776 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 9 | $8,365,000 | $929,444 |
| Single Family (1-4 Units):Site-Built | 58 | $11,050,000 | $190,517 |