Brookline Bank Mortgage Rates, Fees & Info
Brookline, MALEI: 549300TR6MWKSIOP3B72
Tax ID: 05-1125010
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Mortgage Data
Review & Overview
Brookline Bank is a smaller bank specializing in Home Improvement, Refi, and Home Purchase loans. Brookline Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Baltimore, and Providence among others. We have data for 11 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 a low 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.61% | 11/17/24 |
| 30 Year Conventional Purchase | 6.33% | 11/17/24 |
| 30 Year Conventional Refi | 6.26% | 11/17/24 |
| 15 Year Conventional Purchase | 5.87% | 11/17/24 |
| 15 Year Conventional Refi | 5.83% | 11/17/24 |
| 15 Year Cash-out Refi | 5.83% | 11/17/24 |
| 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
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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
362Origination Dollar Volume (All Markets)
$143,150,000Awards
Brookline Bank - 2023
Brookline Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Brookline Bank's average 30 year fixed mortgage rate was
6.55%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.07%.
Relative Fees (Closing Costs)
Brookline Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,732.
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 $9,089.
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) | 334 | $132,230,000 | $395,898 | $2,373 | 7.64% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $5,200,000 | $650,000 | $2,917 | 7.45% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 8 | $2,190,000 | $273,750 | $1,826 | 7.42% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $6,876 | 5.75% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $0 | 7.69% |
| Outside of Metro Areas | 2 | $530,000 | $265,000 | $0 | 8.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,226 | 6.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,573 | 6.25% |
| Concord, NH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 6.99% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.25% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.50% |
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.
Similarity Rank: 40
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Similarity Rank: 276
Similarity Rank: 284
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 275 | $79,965,000 | $290,782 | n/a | 7.94% |
| Conventional | 87 | $63,185,000 | $726,264 | $2,423 | 6.62% |
For 2023, Brookline Bank's most frequently originated type of loan was HELOC, with 275 originations. Their 2nd most popular type was Conventional, with 87 originations.
Loan Reason
For 2023, Brookline Bank's most frequently cited loan purpose was Home Improvement, with 138 originations. The 2nd most popular reason was Refi, with 96 originations.
Loan Duration/Length
For 2023, Brookline Bank's most frequently cited loan duration was 30+ year, with 275 originations. The 2nd most popular length was 30 Year, with 48 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 74 | $29,450,000 | $397,973 |
| $1k-2k | 2 | $850,000 | $425,000 |
Brookline Bank's average total fees were $3,732, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 162 | $47,500,000 | $293,210 |
| Over 8% | 125 | $39,795,000 | $318,360 |
| 6-7% | 57 | $45,675,000 | $801,316 |
| 5-6% | 18 | $10,180,000 | $565,556 |
During 2023, Brookline Bank's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 7-8%, with 162 originations.
Loan Sizing
2023 saw Brookline Bank place emphasis on $200k-400k loans with 101 originations, totaling $27,855,000 in origination value.
Applicant Income
Brookline Bank lent most frequently to those with incomes in the $250k+ range, with 103 originations. The second most popular income band? $150k-250k, with 101 originations.
Applicant Debt to Income Ratio
Brookline Bank lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 50-60%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.10%
Brookline Bank has a below average approval rate.
Pick Rate
Approvals leading to origination80.66%
Brookline Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 362 | $143,150,000 | $395,442 |