Harvard University Employees Mortgage Rates, Fees & Info
Cambridge, MALEI: 549300XTSMAC5DOX6447
Tax ID: 04-6017806
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Mortgage Data
Review & Overview
Harvard University Employees is a smaller mortgage company specializing in Home Purchase loans. Harvard University Employees has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, Laconia, and Barnstable Town among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Harvard University Employees has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Harvard University Employees 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.60% | 7/7/25 |
| 30 Year Conventional Purchase | 6.73% | 7/7/25 |
| 30 Year Conventional Refi | 6.72% | 7/7/25 |
| 30 Year Cash-out Refi | 6.98% | 7/7/25 |
| 15 Year Conventional Purchase | 6.27% | 7/7/25 |
| 15 Year Conventional Refi | 6.78% | 7/7/25 |
| 15 Year Cash-out Refi | 6.78% | 7/7/25 |
| 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. | ||
Harvard University Employees Mortgage Calculator
Your Estimates
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This is not an official calculator from Harvard University Employees. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
471Origination Dollar Volume (All Markets)
$133,895,000Awards
HARVARD UNIVERSITY EMPLOYEES - 2024
HARVARD UNIVERSITY EMPLOYEES is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Harvard University Employees's average 30 year fixed mortgage rate was
6.68%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
Harvard University Employees's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,835.
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 $8,356.
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) | 396 | $115,870,000 | $292,601 | $2,320 | 6.91% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 18 | $3,410,000 | $189,444 | $2,668 | 6.70% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 14 | $3,360,000 | $240,000 | $1,979 | 6.85% |
| Laconia, NH (FHA|USDA|VA) | 3 | $2,115,000 | $705,000 | $4,261 | 7.08% |
| Outside of Metro Areas | 8 | $1,950,000 | $243,750 | $2,671 | 6.92% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 12 | $1,890,000 | $157,500 | $854 | 7.10% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $2,225 | 6.85% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $6,956 | 6.91% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,471 | 6.93% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $7,007 | 6.75% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 6.99% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,963 | 6.50% |
| Berlin, NH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,798 | 6.88% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.99% |
| Concord, NH (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 6.93% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against HARVARD UNIVERSITY EMPLOYEES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 63
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 256 | $101,100,000 | $394,922 | $2,377 | 6.75% |
| HELOC | 215 | $32,795,000 | $152,535 | n/a | 7.09% |
For 2024, Harvard University Employees's most frequently originated type of loan was Conventional, with 256 originations. Their 2nd most popular type was HELOC, with 215 originations.
Loan Reason
For 2024, Harvard University Employees's most frequently cited loan purpose was Home Improvement, with 169 originations. The 2nd most popular reason was Home Purchase, with 160 originations.
Loan Duration/Length
For 2024, Harvard University Employees's most frequently cited loan duration was Other, with 223 originations. The 2nd most popular length was 30 Year, with 138 originations.
Origination Fees/Closing Costs
Harvard University Employees's average total fees were $3,835, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 244 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 373 | $101,845,000 | $273,043 |
| 7-8% | 67 | $22,785,000 | $340,075 |
| Over 8% | 15 | $2,675,000 | $178,333 |
| 5-6% | 11 | $5,245,000 | $476,818 |
| 4-5% | 5 | $1,345,000 | $269,000 |
During 2024, Harvard University Employees's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 373 originations.
Loan Sizing
2024 saw Harvard University Employees place emphasis on $100,000 or less loans with 130 originations, totaling $7,420,000 in origination value.
Applicant Income
Harvard University Employees lent most frequently to those with incomes in the $150k-250k range, with 184 originations. The second most popular income band? $250k+, with 151 originations.
Applicant Debt to Income Ratio
Harvard University Employees lent most frequently to those with DTI ratios of 20-30%, with 108 originations. The next most common DTI ratio? 30-36%, with 101 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.04%
Harvard University Employees has an average approval rate.
Pick Rate
Approvals leading to origination90.02%
Harvard University Employees has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 124 | $14,370,000 | $115,887 |
| 150.0 | 12 | $1,250,000 | $104,167 |
| 320.0 | 3 | $285,000 | $95,000 |
| 500.0 | 2 | $430,000 | $215,000 |
| 650.0 | 1 | $505,000 | $505,000 |
| 820.0 | 1 | $305,000 | $305,000 |
| NA | 328 | $116,750,000 | $355,945 |