Brookline Bank Mortgage Rates, Fees & Info

Brookline, MA

LEI: 549300TR6MWKSIOP3B72

Tax ID: 05-1125010

5 stars - Updated: 2/19/24 - out of 5 stars, based on 26 reviews

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

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Mortgage Data

Review & Overview

Brookline Bank is a smaller bank specializing in Refi and Home Purchase loans. Brookline Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Lebanon, Bangor, and Barnstable Town among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Brookline Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Brookline Bank is typically an average 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.61% 2/19/24
30 Year Conventional Purchase 6.33% 2/19/24
30 Year Conventional Refi 6.26% 2/19/24
15 Year Conventional Purchase 5.87% 2/19/24
15 Year Conventional Refi 5.83% 2/19/24
15 Year Cash-out Refi 5.83% 2/19/24
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.

Brookline Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Brookline 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

669

Origination Dollar Volume (All Markets)

$976,745,000

Relative Rate

Brookline Bank's average 30 year fixed mortgage rate was 4.2%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.56%.

Relative Fees (Closing Costs)

Brookline Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,959.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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) 604 $729,250,000 $1,207,368 $3,552 4.42%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 18 $140,450,000 $7,802,778 $2,932 5.07%
Lebanon, NH-VT (FHA|USDA|VA) 2 $54,800,000 $27,400,000 $0 5.69%
BANGOR, ME (FHA|USDA|VA) 1 $22,005,000 $22,005,000 $0 5.61%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 13 $6,615,000 $508,846 $7,440 4.91%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $5,205,000 $1,735,000 $6,067 5.08%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $4,355,000 $4,355,000 $20,415 5.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $4,315,000 $1,438,333 $9,779 5.25%
Vineyard Haven, MA (FHA|USDA|VA) 2 $3,240,000 $1,620,000 $5,833 5.19%
WORCESTER, MA-CT (FHA|USDA|VA) 12 $3,220,000 $268,333 $2,536 4.40%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $820,000 $410,000 $4,850 3.87%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $755,000 $755,000 $7,469 3.63%
Concord, NH (FHA|USDA|VA) 2 $510,000 $255,000 $3,413 4.31%
PITTSFIELD, MA (FHA|USDA|VA) 2 $440,000 $220,000 $3,531 4.69%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $355,000 $355,000 $3,447 5.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $105,000 $105,000 $2,508 3.50%
Brookline Bank's top markets include Boston, Providence, Lebanon, Bangor, and Barnstable Town among others.

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

    We use machine learning to identify the top lenders compared against Brookline Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Piscataqua Savings Bank
    Similarity Rank: 526
    Middlesex Savings Bank
    Similarity Rank: 560
    Bridgewater Savings Bank
    Similarity Rank: 576
    Walpole Co-operative Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    Bristol County Savings Bank
    Similarity Rank: 945
    North Easton Savings Bank
    Similarity Rank: 956

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 512 $165,870,000 $323,965 n/a 4.47%
    Conventional 157 $810,875,000 $5,164,809 $4,008 4.41%

    For 2022, Brookline Bank's most frequently originated type of loan was HELOC, with 512 originations. Their 2nd most popular type was Conventional, with 157 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 251 $78,105,000 $311,175 $1,142 4.53%
    Refi 204 $355,710,000 $1,743,676 $4,128 4.29%
    Home Purchase 112 $511,160,000 $4,563,929 $4,432 4.54%
    Other 102 $31,770,000 $311,471 $4,395 4.49%

    For 2022, Brookline Bank's most frequently cited loan purpose was Home Improvement, with 251 originations. The 2nd most popular reason was Refi, with 204 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 510 $143,710,000 $281,784 $0 4.46%
    30 Year 87 $188,145,000 $2,162,586 $4,959 4.20%
    10 Year 29 $240,475,000 $8,292,241 $0 5.09%
    15 Year 17 $32,295,000 $1,899,706 $2,711 3.64%
    5 Year 15 $144,895,000 $9,659,667 $0 4.99%
    Other 8 $225,580,000 $28,197,500 $0 5.26%
    20 Year 2 $640,000 $320,000 $2,857 3.25%
    3 Year 1 $1,005,000 $1,005,000 $0 4.46%

    For 2022, Brookline Bank's most frequently cited loan duration was 30+ year, with 510 originations. The 2nd most popular length was 30 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 93 $47,815,000 $514,140
    $1k-2k 6 $9,680,000 $1,613,333
    $5k+ 3 $4,385,000 $1,461,667
    $2k-3k 1 $765,000 $765,000

    Brookline Bank's average total fees were $4,959, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 93 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 199 $112,335,000 $564,497
    5-6% 173 $263,305,000 $1,521,994
    2.5-3% 116 $36,980,000 $318,793
    4-5% 107 $204,445,000 $1,910,701
    6-7% 60 $352,930,000 $5,882,167
    7-8% 12 $6,370,000 $530,833
    <2.5% 2 $380,000 $190,000

    During 2022, Brookline Bank's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 3-4%, with 199 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 195 $53,135,000 $272,487 $2,681 4.54%
    $100k-200k 156 $21,090,000 $135,192 $2,238 4.19%
    $100,000 or less 102 $6,510,000 $63,824 $357 4.46%
    $400k-600k 87 $41,555,000 $477,644 $3,715 4.54%
    $600k-1MM 65 $47,325,000 $728,077 $4,148 4.47%
    $1MM+ 64 $807,130,000 $12,611,406 $10,674 4.66%

    2022 saw Brookline Bank place emphasis on $200k-400k loans with 195 originations, totaling $53,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 202 $59,910,000 $296,584 $3,094 4.41%
    $250k+ 167 $99,085,000 $593,323 $7,437 4.55%
    $100k-150k 135 $33,375,000 $247,222 $2,522 4.39%
    $75k-100k 61 $9,655,000 $158,279 $2,013 4.25%
    $50k-75k 39 $6,535,000 $167,564 $2,733 4.29%
    $50k or less 14 $1,210,000 $86,429 $1,161 4.60%

    Brookline Bank lent most frequently to those with incomes in the $150k-250k range, with 202 originations. The second most popular income band? $250k+, with 167 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $41,400,000 $308,955 $3,960 4.39%
    30-36% 104 $33,580,000 $322,885 $3,636 4.27%
    <20% 63 $27,315,000 $433,571 $4,224 4.47%
    50-60% 59 $16,215,000 $274,831 $2,530 4.39%
    49% 37 $11,685,000 $315,811 $2,807 4.44%
    38% 21 $7,735,000 $368,333 $7,211 3.93%
    37% 21 $5,685,000 $270,714 $3,377 4.41%
    43% 21 $8,515,000 $405,476 $6,694 4.59%
    46% 21 $7,535,000 $358,810 $2,655 5.05%
    39% 18 $5,660,000 $314,444 $4,266 4.24%
    48% 18 $5,340,000 $296,667 $2,970 4.74%
    41% 18 $8,470,000 $470,556 $3,625 4.52%
    42% 16 $8,150,000 $509,375 $10,208 4.85%
    40% 16 $4,110,000 $256,875 $4,226 3.94%
    44% 16 $4,270,000 $266,875 $2,993 4.44%
    45% 16 $6,550,000 $409,375 $3,201 4.27%
    47% 15 $4,165,000 $277,667 $2,006 4.83%
    36% 6 $950,000 $158,333 $0 4.09%
    >60% 5 $4,055,000 $811,000 $4,496 5.33%

    Brookline Bank lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? 30-36%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 41 $762,465,000 $18,596,707 $0 4.96%
    White 436 $128,100,000 $293,807 $3,930 4.44%
    Not provided 130 $66,330,000 $510,231 $4,278 4.30%
    Asian 29 $9,725,000 $335,345 $0 4.02%
    Black 15 $4,485,000 $299,000 $859 4.82%
    Chinese 6 $2,030,000 $338,333 $0 3.88%
    Asian Indian 5 $1,685,000 $337,000 $4,416 5.85%
    American Indian 4 $1,640,000 $410,000 $0 6.38%
    Korean 1 $125,000 $125,000 $0 5.25%
    Other Asian 1 $85,000 $85,000 $0 3.75%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    82.98%

    Brookline Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.59%

    Brookline Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 669 $976,745,000 $1,460,007

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    669 $976,745,000 $1,460,007

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 211 $200,685,000 $951,114 $3,465 4.34%
    40-60% 81 $335,405,000 $4,140,802 $6,305 4.35%
    60-80% 103 $305,325,000 $2,964,320 $4,494 4.68%
    80-100% 16 $14,600,000 $912,500 $5,435 4.46%
    Under 20% 258 $120,730,000 $467,946 $774 4.49%