Bar Harbor Bank & Trust Mortgage Rates, Fees & Info

Bar Harbor, ME

LEI: 549300VR3QTN4GZYUR03

Tax ID: 01-0024810

5 stars - Updated: 11/17/24 - out of 5 stars, based on 25 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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)

    • Review & Overview

    Bar Harbor Bank & Trust is a smaller bank specializing in Home Purchase loans. Bar Harbor Bank & Trust has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lebanon, Manchester, Concord, Boston, and Portland among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bar Harbor Bank & Trust 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. Bar Harbor Bank & Trust 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) 5.77% 11/17/24
    30 Year Conventional Purchase 6.30% 11/17/24
    30 Year Conventional Refi 6.22% 11/17/24
    30 Year Cash-out Refi 6.48% 11/17/24
    30 Year USDA Purchase 4.91% 11/17/24
    15 Year Conventional Purchase 6.06% 11/17/24
    15 Year Conventional Refi 6.00% 11/17/24
    15 Year Cash-out Refi 6.00% 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.

    Bar Harbor Bank & Trust Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bar Harbor Bank & Trust. 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

    615

    Origination Dollar Volume (All Markets)

    $161,505,000
    Show all (7) awards

    Relative Rate

    Bar Harbor Bank & Trust's average 30 year fixed mortgage rate was 7.23%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.75%.

    Relative Fees (Closing Costs)

    Bar Harbor Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $4,609.

    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
    Outside of Metro Areas 189 $37,645,000 $199,180 $3,838 7.33%
    Lebanon, NH-VT (FHA|USDA|VA) 143 $34,685,000 $242,552 $4,119 7.17%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 75 $23,685,000 $315,800 $3,995 6.93%
    Concord, NH (FHA|USDA|VA) 69 $19,245,000 $278,913 $4,021 6.93%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 33 $14,515,000 $439,848 $5,337 6.92%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 16 $7,070,000 $441,875 $3,752 6.86%
    BANGOR, ME (FHA|USDA|VA) 38 $6,300,000 $165,789 $2,574 7.11%
    Laconia, NH (FHA|USDA|VA) 10 $5,690,000 $569,000 $5,195 6.46%
    Sanford, NC (FHA|USDA|VA) 1 $3,305,000 $3,305,000 $0 7.25%
    Rutland, VT (FHA|USDA|VA) 16 $3,020,000 $188,750 $4,357 6.92%
    Berlin, NH (FHA|USDA|VA) 5 $1,445,000 $289,000 $4,512 8.05%
    Keene, NH (FHA|USDA|VA) 7 $1,125,000 $160,714 $2,990 7.34%
    Bennington, VT (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $10,298 7.75%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $860,000 $430,000 $4,774 6.63%
    Augusta-Waterville, ME (FHA|USDA|VA) 5 $645,000 $129,000 $590 7.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $365,000 $365,000 $6,199 7.00%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 2 $320,000 $160,000 $2,823 5.63%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $255,000 $255,000 $3,860 7.13%
    Barre, VT (FHA|USDA|VA) 1 $245,000 $245,000 $3,974 6.25%
    Bar Harbor Bank & Trust's top markets include Lebanon, Manchester, Concord, Boston, and Portland among others.

    Their top states include:
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 40
    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    Kennebec Savings Bank
    Similarity Rank: 50
    Saco Valley Credit Union
    Similarity Rank: 64
    Maine Savings Federal Credit Union
    Similarity Rank: 112
    Bath Savings Institution
    Similarity Rank: 115
    Norway Savings Bank
    Similarity Rank: 126
    Sharon & Crescent United Credit Union
    Similarity Rank: 130
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 150
    GREYLOCK
    Similarity Rank: 160

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 405 $133,105,000 $328,654 $3,978 6.58%
    HELOC 208 $27,820,000 $133,750 n/a 8.21%
    USDA 2 $580,000 $290,000 $6,403 4.75%

    For 2023, Bar Harbor Bank & Trust's most frequently originated type of loan was Conventional, with 405 originations. Their 2nd most popular type was HELOC, with 208 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 254 $105,470,000 $415,236 $4,712 6.68%
    Home Improvement 135 $14,225,000 $105,370 $1,590 7.71%
    Other 99 $13,875,000 $140,152 $2,146 7.57%
    Refi 80 $15,180,000 $189,750 $3,547 7.45%
    Cash Out Refi 47 $12,755,000 $271,383 $4,098 6.28%

    For 2023, Bar Harbor Bank & Trust's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Home Improvement, with 135 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 453 $117,465,000 $259,305 $4,609 7.23%
    10 Year 70 $9,910,000 $141,571 $910 6.52%
    30+ year 43 $22,395,000 $520,814 $5,258 6.99%
    15 Year 18 $3,030,000 $168,333 $3,510 6.05%
    20 Year 11 $1,775,000 $161,364 $3,445 6.67%
    Other 11 $3,195,000 $290,455 $5,614 8.05%
    5 Year 6 $2,660,000 $443,333 $0 8.17%
    3 Year 2 $760,000 $380,000 $0 8.11%
    1 Year 1 $315,000 $315,000 $0 9.50%

    For 2023, Bar Harbor Bank & Trust's most frequently cited loan duration was 30 Year, with 453 originations. The 2nd most popular length was 10 Year, with 70 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 258 $85,930,000 $333,062
    $1k-2k 48 $11,710,000 $243,958
    $3k-4k 16 $7,370,000 $460,625
    $5k+ 16 $7,850,000 $490,625
    $2k-3k 15 $4,065,000 $271,000
    $4k-5k 9 $2,045,000 $227,222

    Bar Harbor Bank & Trust's average total fees were $4,609, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 258 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 164 $52,550,000 $320,427
    Over 8% 158 $24,150,000 $152,848
    7-8% 154 $43,060,000 $279,610
    5-6% 128 $37,610,000 $293,828
    4-5% 9 $3,675,000 $408,333
    3-4% 2 $460,000 $230,000

    During 2023, Bar Harbor Bank & Trust's average interest rate for loans was 7.23%, while their most frequently originated rate bucket for loans was 6-7%, with 164 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 178 $9,650,000 $54,213 $1,506 7.52%
    $200k-400k 171 $48,605,000 $284,240 $4,260 6.92%
    $100k-200k 154 $21,630,000 $140,455 $3,303 7.19%
    $400k-600k 64 $30,480,000 $476,250 $5,686 6.64%
    $600k-1MM 34 $25,790,000 $758,529 $5,730 6.57%
    $1MM+ 14 $25,350,000 $1,810,714 $8,950 7.23%

    2023 saw Bar Harbor Bank & Trust place emphasis on $100,000 or less loans with 178 originations, totaling $9,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 143 $27,875,000 $194,930 $3,451 7.06%
    $150k-250k 126 $39,140,000 $310,635 $4,625 7.15%
    $250k+ 101 $56,855,000 $562,921 $5,683 7.03%
    $75k-100k 84 $12,720,000 $151,429 $3,480 7.12%
    $50k-75k 75 $8,985,000 $119,800 $3,077 6.95%
    $50k or less 56 $4,260,000 $76,071 $2,847 7.23%

    Bar Harbor Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 143 originations. The second most popular income band? $150k-250k, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 116 $31,380,000 $270,517 $3,974 6.99%
    30-36% 114 $28,100,000 $246,491 $4,108 7.10%
    42% 61 $11,035,000 $180,902 $3,248 7.34%
    <20% 40 $9,330,000 $233,250 $5,282 7.11%
    40% 39 $11,605,000 $297,564 $3,592 7.23%
    39% 37 $13,615,000 $367,973 $4,102 7.17%
    41% 27 $6,545,000 $242,407 $4,396 7.60%
    43% 24 $6,850,000 $285,417 $4,381 6.90%
    38% 22 $4,900,000 $222,727 $3,273 6.94%
    37% 21 $5,385,000 $256,429 $3,870 7.46%
    36% 19 $3,355,000 $176,579 $2,467 6.91%
    48% 12 $3,790,000 $315,833 $4,157 6.89%
    46% 11 $3,555,000 $323,182 $4,967 6.67%
    47% 10 $2,340,000 $234,000 $3,636 6.53%
    44% 9 $3,015,000 $335,000 $3,307 6.47%
    45% 9 $2,085,000 $231,667 $4,423 6.42%
    49% 8 $2,210,000 $276,250 $3,730 6.69%
    50-60% 3 $955,000 $318,333 $4,554 6.13%
    >60% 2 $110,000 $55,000 $2,966 7.38%

    Bar Harbor Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 490 $121,930,000 $248,837 $3,921 7.09%
    Not provided 83 $22,325,000 $268,976 $4,208 7.13%
    Not applicable 22 $9,320,000 $423,636 $0 7.89%
    Asian 10 $4,460,000 $446,000 $4,839 6.66%
    Black 4 $1,770,000 $442,500 $4,640 6.50%
    American Indian 5 $1,665,000 $333,000 $4,148 8.10%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    79.90%

    Bar Harbor Bank & Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.33%

    Bar Harbor Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    352.8 1 $255,000 $255,000
    NA 614 $161,250,000 $262,622

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    615 $161,505,000 $262,610

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 142 $21,180,000 $149,155 $2,860 7.33%
    40-60% 83 $21,795,000 $262,590 $4,221 7.14%
    60-80% 133 $58,255,000 $438,008 $4,999 6.84%
    80-100% 115 $50,855,000 $442,217 $4,795 6.52%
    Over 100% 1 $215,000 $215,000 $5,153 5.95%
    Under 20% 141 $9,205,000 $65,284 $1,063 7.67%