Brookline Bank Mortgage Rates, Fees & Info

Brookline, MA

LEI: 549300TR6MWKSIOP3B72

Tax ID: 05-1125010

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Barnstable Town, Springfield, and Miami among others. We have data for 12 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 an 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 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.

    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% 12/16/24
    30 Year Conventional Purchase 6.33% 12/16/24
    30 Year Conventional Refi 6.26% 12/16/24
    15 Year Conventional Purchase 5.87% 12/16/24
    15 Year Conventional Refi 5.83% 12/16/24
    15 Year Cash-out Refi 5.83% 12/16/24
    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

    737

    Origination Dollar Volume (All Markets)

    $402,365,000

    Employee count

    419

    Awards

    Brookline Bank 30 Year Conventional Loans silver Brookline Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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) 694 $337,250,000 $485,951 $3,227 4.46%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $38,620,000 $6,436,667 $5,097 4.31%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 20 $10,030,000 $501,500 $3,491 4.58%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $9,705,000 $9,705,000 $0 4.15%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,985,000 $1,985,000 $12,310 3.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,810,000 $301,667 $0 4.84%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $970,000 $242,500 $3,907 4.30%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $885,000 $885,000 $0 5.00%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $605,000 $605,000 $4,518 3.75%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.38%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.74%
    Outside of Metro Areas 1 $105,000 $105,000 $0 4.24%
    Brookline Bank's top markets include Boston, Providence, Barnstable Town, Springfield, and Miami among others.

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

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 509 $124,565,000 $244,725 n/a 4.40%
    Conventional 228 $277,800,000 $1,218,421 $3,326 4.60%

    For 2018, Brookline Bank's most frequently originated type of loan was HELOC, with 509 originations. Their 2nd most popular type was Conventional, with 228 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 235 $48,745,000 $207,426 $253 4.43%
    Refi 224 $117,760,000 $525,714 $3,430 4.42%
    Home Purchase 172 $210,730,000 $1,225,174 $3,880 4.63%
    Other 106 $25,130,000 $237,075 $0 4.39%

    For 2018, Brookline Bank's most frequently cited loan purpose was Home Improvement, with 235 originations. The 2nd most popular reason was Refi, with 224 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 503 $122,675,000 $243,887 $0 4.37%
    30 Year 129 $68,775,000 $533,140 $3,748 4.01%
    10 Year 49 $110,855,000 $2,262,347 $0 5.08%
    Other 33 $85,795,000 $2,599,848 $0 6.41%
    5 Year 15 $9,545,000 $636,333 $0 4.99%
    3 Year 5 $3,765,000 $753,000 $0 4.88%
    15 Year 2 $710,000 $355,000 $2,706 3.88%
    1 Year 1 $245,000 $245,000 $0 6.75%

    For 2018, Brookline Bank's most frequently cited loan duration was 30+ year, with 503 originations. The 2nd most popular length was 30 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 126 $58,250,000 $462,302
    $1k-2k 13 $4,825,000 $371,154
    $2k-3k 4 $2,860,000 $715,000
    $5k+ 2 $2,570,000 $1,285,000
    $3k-4k 1 $605,000 $605,000
    $4k-5k 1 $1,335,000 $1,335,000

    Brookline Bank's average total fees were $3,748, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 452 $202,270,000 $447,500
    3-4% 212 $76,110,000 $359,009
    5-6% 46 $94,030,000 $2,044,130
    6-7% 21 $26,485,000 $1,261,190
    7-8% 4 $2,860,000 $715,000

    During 2018, Brookline Bank's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 4-5%, with 452 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 191 $25,275,000 $132,330 $1,899 4.41%
    $200k-400k 187 $51,415,000 $274,947 $2,977 4.38%
    $100,000 or less 115 $6,645,000 $57,783 $230 4.43%
    $400k-600k 103 $48,765,000 $473,447 $3,382 4.37%
    $600k-1MM 88 $65,460,000 $743,864 $4,477 4.58%
    $1MM+ 53 $204,805,000 $3,864,245 $6,537 5.00%

    2018 saw Brookline Bank place emphasis on $100k-200k loans with 191 originations, totaling $25,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 185 $59,665,000 $322,514 $3,399 4.34%
    $100k-150k 167 $40,105,000 $240,150 $2,608 4.37%
    $250k+ 134 $70,850,000 $528,731 $4,299 4.39%
    $75k-100k 76 $16,230,000 $213,553 $3,349 4.33%
    $50k-75k 60 $10,210,000 $170,167 $2,146 4.37%
    $50k or less 41 $4,965,000 $121,098 $2,204 4.41%

    Brookline Bank lent most frequently to those with incomes in the $150k-250k range, with 185 originations. The second most popular income band? $100k-150k, with 167 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 123 $38,835,000 $315,732 $3,516 4.32%
    30-36% 100 $25,370,000 $253,700 $3,094 4.30%
    <20% 66 $22,170,000 $335,909 $3,429 4.36%
    49% 52 $14,290,000 $274,808 $3,735 4.43%
    50-60% 35 $10,995,000 $314,143 $3,453 4.25%
    46% 34 $10,280,000 $302,353 $3,228 4.47%
    47% 28 $5,800,000 $207,143 $1,685 4.29%
    41% 24 $6,700,000 $279,167 $2,397 4.40%
    40% 23 $6,685,000 $290,652 $2,741 4.27%
    39% 23 $5,835,000 $253,696 $3,268 4.29%
    44% 23 $6,805,000 $295,870 $1,788 4.34%
    42% 22 $4,820,000 $219,091 $2,596 4.35%
    48% 19 $4,915,000 $258,684 $2,841 4.52%
    43% 19 $7,005,000 $368,684 $4,046 4.35%
    45% 18 $3,780,000 $210,000 $1,582 4.40%
    38% 17 $8,155,000 $479,706 $7,718 4.29%
    37% 12 $2,870,000 $239,167 $3,314 4.21%
    >60% 10 $6,330,000 $633,000 $5,313 4.21%
    36% 9 $3,445,000 $382,778 $0 4.69%

    Brookline Bank lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 65 $195,475,000 $3,007,308 $0 5.46%
    White 456 $130,320,000 $285,789 $3,012 4.40%
    Not provided 139 $54,885,000 $394,856 $3,725 4.21%
    Asian 53 $15,655,000 $295,377 $1,904 4.36%
    American Indian 8 $2,580,000 $322,500 $3,818 4.87%
    Vietnamese 2 $940,000 $470,000 $0 4.74%
    Chinese 2 $940,000 $470,000 $0 4.92%
    Black 7 $715,000 $102,143 $0 4.57%
    Native Hawaiian or Islander 1 $405,000 $405,000 $0 4.24%
    Other Asian 3 $305,000 $101,667 $0 4.57%
    Filipino 1 $145,000 $145,000 $0 4.99%

    Approval Rates

    Total approvals of all applications
    85.12%

    Brookline Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.37%

    Brookline Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 737 $402,365,000 $545,950

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 23 $158,785,000 $6,903,696
    Single Family (1-4 Units):Site-Built 714 $243,580,000 $341,148

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 198 $58,400,000 $294,949 $2,751 4.41%
    40-60% 102 $57,210,000 $560,882 $3,538 4.56%
    60-80% 137 $160,645,000 $1,172,591 $4,016 4.55%
    80-100% 28 $15,480,000 $552,857 $4,065 4.03%
    Under 20% 266 $106,520,000 $400,451 $567 4.48%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BARCLAYS BANK DELAWARE Other type of mortgage Closing on a mortgage 3 42.9%
    BARCLAYS BANK DELAWARE Other type of mortgage Struggling to pay mortgage 3 42.9%
    BARCLAYS BANK DELAWARE Other type of mortgage Trouble during payment process 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Brookline Bank 10 Langley Road Newton, MA 2459 Full Service B&M $369,854
    Brookline Bank 1016 Beacon Street Brookline, MA 2446 Full Service B&M $102,540
    Brookline Bank 1018 W Roxbury Pkwy Chestnut Hill, MA 2467 Full Service B&M $168,356
    Brookline Bank 1160 Walnut Street Newton, MA 2461 Full Service B&M $38,286
    Brookline Bank 1220 Boylston Street Chestnut Hill, MA 2467 Full Service B&M $52,230
    Brookline Bank 131 Clarendon Street Boston, MA 2117 Full Service B&M $496,250
    Brookline Bank 1340 Beacon Street Brookline, MA 2446 Full Service B&M $315,755
    Brookline Bank 161 Linden Street Wellesley, MA 2482 Full Service B&M $0
    Brookline Bank 1661 Beacon Street Brookline, MA 2445 Full Service B&M $194,788
    Brookline Bank 168 Great Road Bedford, MA 1730 Full Service B&M $48,252
    Brookline Bank 1793 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $127,903
    Brookline Bank 1808 Centre Street West Roxbury, MA 2132 Full Service B&M $108,741
    Brookline Bank 196 Commercial Street Malden, MA 2148 Full Service B&M $66,212
    Brookline Bank 2 Harvard Street Brookline, MA 2445 Full Service B&M $232,711
    Brookline Bank 201 Salem Street Medford, MA 2155 Full Service B&M $88,944
    Brookline Bank 31-33 State Street Boston, MA 2109 Full Service B&M $19,210
    Brookline Bank 323 Walnut St Newtonville, MA 2460 Full Service B&M $92,849
    Brookline Bank 34 Cambridge St Burlington, MA 1803 Full Service B&M $22,695
    Brookline Bank 430 High Street Medford, MA 2155 Full Service B&M $59,227
    Brookline Bank 448 Washington St Wellesley, MA 2482 Full Service B&M $100,877
    Brookline Bank 456 Main Street Waltham, MA 2453 Full Service B&M $87,116
    Brookline Bank 5 Washington Street Wellesley, MA 2481 Full Service B&M $68,510
    Brookline Bank 60 High Street Medford, MA 2155 Full Service B&M $154,028
    Brookline Bank 718 Beacon Street Newton Center, MA 2459 Full Service B&M $0
    Brookline Bank 72 Burlington Mall Rd Burlington, MA 1803 Full Service B&M $32,947
    Brookline Bank 856 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $94,723
    Brookline Bank 902 Highland Ave Needham, MA 2494 Full Service B&M $66,819

    For 2018, Brookline Bank had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $209,957
    Net interest income $165,458
    Total noninterest income $10,373
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,395
    Trading account gains and fees $4,094
    Additional Noninterest Income $4,884
    Pre-tax net operating income $84,856
    Securities gains (or losses, -) $106
    Income before extraordinary items $64,563
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $64,563
    Minority interest net income $3,489
    Net income $61,074
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $64,479

    Brookline Bank's gross interest income from loans was $209,957,000.
    Brookline Bank's net interest income from loans was $165,458,000.
    Brookline Bank's fee based income from loans was $1,395,000.
    Brookline Bank's net income from loans was $61,074,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $44,499
    Provision for credit losses $2,746
    Total noninterest expense $88,229
    Salaries and employee benefits $52,998
    Premises and equipment expense $11,405
    Additional noninterest expense $23,826
    Applicable income taxes $20,399
    Net charge-offs $4,595
    Cash dividends $11,000

    Brookline Bank's interest expense for loans was $44,499,000.
    Brookline Bank's payroll and benefits expense were $52,998,000.
    Brookline Bank's property, plant and equipment expenses $11,405,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $3,427,400
    Deposits held in domestic offices $3,427,400
    Deposits by Individuals, partnerships, and corporations $3,378,754
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $38,243
    Deposits by Commercial banks and other depository institutions in U.S. $10,398
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $158,187
    Demand deposits $125,724
    Nontransaction accounts $3,269,213
    Money market deposit accounts (MMDAs) $1,155,140
    Other savings deposits (excluding MMDAs) $827,205
    Total time deposits $1,286,868
    Total time and savings deposits $3,301,676
    Noninterest-bearing deposits $576,317
    Interest-bearing deposits $2,851,083
    Retail deposits $2,825,521
    IRAs and Keogh plan accounts $87,939
    Brokered deposits $260,982
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $4,644,193
    Cash & Balances due from depository institutions $44,635
    Interest-bearing balances $16,192
    Total securities $280,193
    Federal funds sold & reverse repurchase $2,500
    Net loans and leases $4,136,966
    Loan and leases loss allowance $38,010
    Trading account assets $16,244
    Bank premises and fixed assets $51,546
    Other real estate owned $2,024
    Goodwill and other intangibles $31,875
    All other assets $78,210

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $4,644,193
    Total Liabilities $4,110,474
    Total deposits $3,427,400
    Interest-bearing deposits $2,851,083
    Deposits held in domestic offices $3,427,400
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $40,547
    Trading liabilities $16,025
    Other borrowed funds $578,015
    Subordinated debt $0
    All other liabilities $48,487

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,136,966
    Loan and leases loss allowance $38,010
    Total loans and leases (domestic) $4,174,976
    All real estate loans $2,896,433
    Real estate loans in domestic offices $2,896,433
    Construction and development loans $111,501
    Residential 1-4 family construction $35,231
    Other construction, all land development and other land $76,270
    Loans secured by nonfarm nonresidential properties $1,465,329
    Nonfarm nonresidential secured by owner-occupied properties $225,875
    Commercial real estate & other non-farm, non-residential $1,239,454
    Multifamily residential real estate $583,562
    1-4 family residential loans $736,041
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,205,740
    To non-U.S. addressees $0
    Loans to individuals $21,598
    Credit card loans $0
    Related Plans $275
    Consumer Auto Loans $571
    Other loans to individuals $20,752
    All other loans & leases $51,205
    Loans to foreign governments and official institutions $0
    Other loans $330
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,421
    Non 1-4 family restructured loans & leases $4,204
    Total loans and leases (foreign) $0

    Brookline Bank had $4,136,966,000 of loans outstanding in 2018. $2,896,433,000 of loans were in real estate loans. $111,501,000 of loans were in development loans. $583,562,000 of loans were in multifamily mortgage loans. $736,041,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $571,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 369 $137,442 $372,472
    Nonfarm, nonresidential loans - <$100k 17 $652 $38,353
    Nonfarm, nonresidential loans - $100-250k 61 $7,121 $116,738
    Nonfarm, nonresidential loans - $250k-1MM 291 $129,669 $445,598
    Commercial & Industrial, US addressed loans - <$1MM 4,386 $500,161 $114,036
    Commercial & Industrial, US addressed loans - <$100k 2,225 $74,523 $33,493
    Commercial & Industrial, US addressed loans - $100-250k 1,207 $136,053 $112,720
    Commercial & Industrial, US addressed loans - $250k-1MM 954 $289,585 $303,548