Bar Harbor Bank & Trust Mortgage Rates, Fees & Info

Bar Harbor, ME

LEI: 549300VR3QTN4GZYUR03

Tax ID: 01-0024810

5 stars - out of 5 stars, based on 29 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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, Home Improvement, and Refi 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: Portland, Lebanon, Manchester, Concord, and Rutland 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 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) 5.77% 3/28/23
    30 Year Conventional Purchase 6.30% 3/28/23
    30 Year Conventional Refi 6.22% 3/28/23
    30 Year Cash-out Refi 6.48% 3/28/23
    30 Year USDA Purchase 4.91% 3/28/23
    15 Year Conventional Purchase 6.06% 3/28/23
    15 Year Conventional Refi 6.00% 3/28/23
    15 Year Cash-out Refi 6.00% 3/28/23
    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.


    Originations

    823

    Origination Dollar Volume (All Markets)

    $347,465,000
    Show all (5) awards

    Relative Rate

    Bar Harbor Bank & Trust's average 30 year fixed mortgage rate was 4.71%.

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

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Bar Harbor Bank & Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $4,584.

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 20 $137,460,000 $6,873,000 $3,906 4.39%
    Outside of Metro Areas 238 $59,980,000 $252,017 $4,166 4.64%
    Lebanon, NH-VT (FHA|USDA|VA) 222 $51,310,000 $231,126 $4,358 4.63%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 86 $28,670,000 $333,372 $3,879 4.54%
    Concord, NH (FHA|USDA|VA) 103 $23,865,000 $231,699 $4,556 4.50%
    Rutland, VT (FHA|USDA|VA) 30 $9,510,000 $317,000 $4,813 4.80%
    Sanford, NC (FHA|USDA|VA) 1 $8,005,000 $8,005,000 $0 5.25%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 24 $7,110,000 $296,250 $4,693 5.03%
    BANGOR, ME (FHA|USDA|VA) 48 $6,430,000 $133,958 $3,591 5.06%
    Laconia, NH (FHA|USDA|VA) 5 $3,445,000 $689,000 $5,213 4.32%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $3,130,000 $1,565,000 $0 4.50%
    Augusta-Waterville, ME (FHA|USDA|VA) 18 $2,610,000 $145,000 $3,143 4.76%
    Keene, NH (FHA|USDA|VA) 12 $2,470,000 $205,833 $3,411 4.50%
    Bennington, VT (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $7,153 3.75%
    Berlin, NH (FHA|USDA|VA) 4 $820,000 $205,000 $3,583 3.87%
    Barre, VT (FHA|USDA|VA) 2 $720,000 $360,000 $4,578 4.25%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 3 $445,000 $148,333 $3,013 4.33%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 3 $395,000 $131,667 $3,202 5.62%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
    Bar Harbor Bank & Trust's top markets include Portland, Lebanon, Manchester, Concord, and Rutland among others.

    Their top states include:
  • Maine (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Massachusetts (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: 138
    Northfield Savings Bank
    Similarity Rank: 155
    Sharon & Crescent United Credit Union
    Similarity Rank: 268
    CASCO
    Similarity Rank: 452
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Middlesex Savings Bank
    Similarity Rank: 560
    Bridgewater Savings Bank
    Similarity Rank: 576
    CUMBERLAND COUNTY
    Similarity Rank: 580
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 600
    Maine Community Bank
    Similarity Rank: 636

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 534 $309,070,000 $578,783 $4,207 4.59%
    HELOC 287 $37,825,000 $131,794 n/a 4.74%
    USDA 2 $570,000 $285,000 $6,218 2.88%

    For 2022, Bar Harbor Bank & Trust's most frequently originated type of loan was Conventional, with 534 originations. Their 2nd most popular type was HELOC, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 322 $138,700,000 $430,745 $4,822 4.73%
    Home Improvement 194 $70,070,000 $361,186 $2,225 4.71%
    Cash Out Refi 104 $24,560,000 $236,154 $4,001 4.14%
    Other 103 $14,815,000 $143,835 $2,146 5.01%
    Refi 100 $99,320,000 $993,200 $3,696 4.36%

    For 2022, Bar Harbor Bank & Trust's most frequently cited loan purpose was Home Purchase, with 322 originations. The 2nd most popular reason was Home Improvement, with 194 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 573 $125,215,000 $218,525 $4,584 4.71%
    30+ year 73 $39,375,000 $539,384 $4,881 4.28%
    10 Year 71 $132,705,000 $1,869,085 $1,359 5.01%
    15 Year 66 $14,810,000 $224,394 $3,913 3.93%
    20 Year 26 $5,690,000 $218,846 $4,005 4.83%
    Other 10 $4,480,000 $448,000 $4,211 4.56%
    3 Year 2 $110,000 $55,000 $0 5.93%
    5 Year 2 $25,080,000 $12,540,000 $0 5.34%

    For 2022, Bar Harbor Bank & Trust's most frequently cited loan duration was 30 Year, with 573 originations. The 2nd most popular length was 30+ year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 281 $96,125,000 $342,082
    $1k-2k 87 $17,465,000 $200,747
    $2k-3k 46 $11,120,000 $241,739
    $3k-4k 27 $8,685,000 $321,667
    $5k+ 23 $10,025,000 $435,870
    $4k-5k 7 $2,265,000 $323,571

    Bar Harbor Bank & Trust's average total fees were $4,584, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 281 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 358 $165,950,000 $463,547
    4-5% 171 $92,205,000 $539,211
    5-6% 153 $64,375,000 $420,752
    6-7% 96 $14,590,000 $151,979
    2.5-3% 19 $4,305,000 $226,579
    <2.5% 14 $2,490,000 $177,857
    7-8% 12 $3,550,000 $295,833

    During 2022, Bar Harbor Bank & Trust's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 3-4%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 245 $35,095,000 $143,245 $3,578 4.61%
    $200k-400k 227 $62,855,000 $276,894 $4,310 4.56%
    $100,000 or less 219 $11,535,000 $52,671 $2,179 4.89%
    $400k-600k 61 $28,735,000 $471,066 $5,420 4.42%
    $600k-1MM 44 $32,560,000 $740,000 $6,810 4.35%
    $1MM+ 27 $176,685,000 $6,543,889 $7,337 4.58%

    2022 saw Bar Harbor Bank & Trust place emphasis on $100k-200k loans with 245 originations, totaling $35,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 159 $33,465,000 $210,472 $4,153 4.53%
    $150k-250k 149 $41,205,000 $276,544 $4,789 4.55%
    $50k-75k 147 $19,155,000 $130,306 $3,515 4.76%
    $250k+ 114 $64,920,000 $569,474 $5,584 4.54%
    $75k-100k 107 $18,455,000 $172,477 $3,718 4.67%
    $50k or less 102 $10,340,000 $101,373 $3,322 4.72%

    Bar Harbor Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 159 originations. The second most popular income band? $150k-250k, with 149 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 200 $44,010,000 $220,050 $4,319 4.43%
    30-36% 161 $43,085,000 $267,609 $4,160 4.64%
    <20% 89 $20,625,000 $231,742 $4,419 4.31%
    41% 40 $11,010,000 $275,250 $3,974 4.74%
    40% 38 $8,070,000 $212,368 $3,918 4.49%
    39% 37 $9,795,000 $264,730 $4,721 5.04%
    42% 33 $7,175,000 $217,424 $3,875 5.26%
    37% 33 $7,655,000 $231,970 $4,342 4.71%
    38% 31 $6,145,000 $198,226 $3,874 4.86%
    36% 25 $5,335,000 $213,400 $3,822 4.51%
    43% 24 $7,210,000 $300,417 $4,199 4.91%
    44% 13 $2,665,000 $205,000 $4,462 4.83%
    45% 13 $3,815,000 $293,462 $4,397 4.32%
    47% 11 $3,995,000 $363,182 $5,628 4.55%
    46% 9 $1,715,000 $190,556 $4,492 4.67%
    49% 9 $2,245,000 $249,444 $3,392 4.03%
    48% 7 $1,345,000 $192,143 $3,478 4.48%
    50-60% 5 $1,805,000 $361,000 $4,101 5.13%
    >60% 2 $360,000 $180,000 $3,290 6.25%

    Bar Harbor Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 200 originations. The next most common DTI ratio? 30-36%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 36 $157,950,000 $4,387,500 $0 5.15%
    White 694 $156,130,000 $224,971 $4,109 4.61%
    Not provided 69 $26,485,000 $383,841 $4,883 4.70%
    Asian 8 $3,000,000 $375,000 $6,435 5.03%
    American Indian 9 $1,355,000 $150,556 $4,088 3.93%
    Asian Indian 2 $1,150,000 $575,000 $3,878 4.19%
    Black 2 $860,000 $430,000 $2,710 5.19%
    Native Hawaiian or Islander 2 $400,000 $200,000 $2,817 5.25%
    Other Pacific Islander 1 $135,000 $135,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    88.23%

    Bar Harbor Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.17%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 823 $347,465,000 $422,193

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    823 $347,465,000 $422,193

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 149 $31,765,000 $213,188 $3,221 4.68%
    40-60% 126 $75,500,000 $599,206 $3,764 4.37%
    60-80% 220 $170,980,000 $777,182 $4,838 4.55%
    80-100% 149 $57,375,000 $385,067 $4,823 4.73%
    Under 20% 178 $11,580,000 $65,056 $1,615 4.84%