Brookline Bank Mortgage Rates, Fees & Info

Brookline, MA

LEI: 549300TR6MWKSIOP3B72

Tax ID: 05-1125010

5 stars - Updated: 3/29/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.61% 3/29/24
30 Year Conventional Purchase 6.33% 3/29/24
30 Year Conventional Refi 6.26% 3/29/24
15 Year Conventional Purchase 5.87% 3/29/24
15 Year Conventional Refi 5.83% 3/29/24
15 Year Cash-out Refi 5.83% 3/29/24
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

362

Origination Dollar Volume (All Markets)

$143,150,000

Awards

Brookline Bank 30 Year Conventional Loans gold
Show all (1) awards

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%
Brookline Bank's top markets include Boston, Barnstable Town, Worcester, Baltimore, and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Rhode Island (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.

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    GREYLOCK
    Similarity Rank: 160
    Piscataqua Savings Bank
    Similarity Rank: 177
    Cape Cod Co-operative Bank
    Similarity Rank: 195
    St. Mary's Credit Union
    Similarity Rank: 220
    ROCKLAND
    Similarity Rank: 276
    RIVER WORKS
    Similarity Rank: 284
    North Easton Savings Bank
    Similarity Rank: 340

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 138 $34,170,000 $247,609 $0 7.86%
    Refi 96 $54,220,000 $564,792 $2,773 7.63%
    Home Purchase 68 $39,550,000 $581,618 $3,463 7.00%
    Other 60 $15,210,000 $253,500 $332 7.75%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 275 $79,965,000 $290,782 $0 7.94%
    30 Year 48 $28,890,000 $601,875 $3,732 6.55%
    10 Year 20 $4,990,000 $249,500 $0 6.96%
    5 Year 10 $23,320,000 $2,332,000 $0 6.30%
    15 Year 4 $790,000 $197,500 $2,722 6.25%
    20 Year 3 $685,000 $228,333 $2,652 6.54%
    Other 2 $4,510,000 $2,255,000 $0 7.15%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 101 $27,855,000 $275,792 $2,586 7.69%
    $100k-200k 80 $10,720,000 $134,000 $1,404 7.78%
    $100,000 or less 76 $4,530,000 $59,605 $0 7.67%
    $400k-600k 50 $24,210,000 $484,200 $3,765 7.43%
    $600k-1MM 31 $22,525,000 $726,613 $4,097 7.52%
    $1MM+ 24 $53,310,000 $2,221,250 $5,110 7.11%

    2023 saw Brookline Bank place emphasis on $200k-400k loans with 101 originations, totaling $27,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 103 $56,555,000 $549,078 $3,391 7.61%
    $150k-250k 101 $28,545,000 $282,624 $2,430 7.67%
    $100k-150k 69 $15,755,000 $228,333 $2,061 7.66%
    $50k-75k 32 $4,360,000 $136,250 $1,779 7.63%
    $75k-100k 31 $3,875,000 $125,000 $1,265 7.75%
    $50k or less 11 $1,115,000 $101,364 $0 7.57%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 66 $20,320,000 $307,879 $2,325 7.63%
    50-60% 64 $19,570,000 $305,781 $3,942 7.71%
    30-36% 48 $12,430,000 $258,958 $1,554 7.57%
    <20% 25 $8,675,000 $347,000 $1,834 7.48%
    49% 18 $5,860,000 $325,556 $4,009 7.77%
    48% 13 $4,335,000 $333,462 $2,934 7.73%
    47% 13 $2,775,000 $213,462 $0 7.71%
    37% 12 $4,480,000 $373,333 $2,333 7.45%
    45% 12 $4,820,000 $401,667 $2,696 7.80%
    44% 11 $3,295,000 $299,545 $2,168 7.51%
    39% 11 $3,405,000 $309,545 $0 8.09%
    40% 11 $2,485,000 $225,909 $1,523 7.49%
    42% 10 $2,510,000 $251,000 $1,459 7.82%
    43% 10 $3,130,000 $313,000 $0 8.13%
    41% 9 $3,155,000 $350,556 $3,709 7.83%
    36% 8 $4,620,000 $577,500 $5,430 7.42%
    46% 6 $3,210,000 $535,000 $1,958 7.25%
    38% 4 $1,620,000 $405,000 $2,560 6.81%
    >60% 4 $1,850,000 $462,500 $3,479 6.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 259 $68,905,000 $266,042 $1,451 7.79%
    Not provided 64 $30,500,000 $476,563 $3,402 7.11%
    Not applicable 6 $29,480,000 $4,913,333 $0 6.54%
    Asian 14 $7,510,000 $536,429 $2,814 7.53%
    Other Asian 3 $2,125,000 $708,333 $0 8.33%
    Asian Indian 5 $2,085,000 $417,000 $3,621 7.48%
    Chinese 3 $1,575,000 $525,000 $3,184 6.63%
    Black 4 $530,000 $132,500 $2,657 7.13%
    American Indian 4 $440,000 $110,000 $1,323 7.28%

    Approval Rates

    Total approvals of all applications
    77.10%

    Brookline Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.66%

    Brookline Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 362 $143,150,000 $395,442

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    362 $143,150,000 $395,442

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 103 $36,505,000 $354,417 $2,920 7.77%
    40-60% 41 $41,895,000 $1,021,829 $3,045 7.59%
    60-80% 45 $37,595,000 $835,444 $4,032 7.07%
    80-100% 12 $6,480,000 $540,000 $3,208 6.89%
    Under 20% 161 $20,675,000 $128,416 $210 7.74%