Harvard University Employees Mortgage Rates, Fees & InfoCambridge, MA
Tax ID: 04-6017806
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHarvard 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, Worcester, Providence, Barnstable Town, and Manchester among others. We have data for 15 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 a below 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.26%||12/4/23|
|30 Year Conventional Refi||6.26%||12/4/23|
|30 Year Cash-out Refi||6.23%||12/4/23|
|15 Year Conventional Purchase||5.62%||12/4/23|
|15 Year Conventional Refi||5.61%||12/4/23|
|15 Year Cash-out Refi||5.61%||12/4/23|
|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.|
Harvard University Employees Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Harvard University Employees. 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.
Origination Dollar Volume (All Markets)$175,760,000
HARVARD UNIVERSITY EMPLOYEES - 2022
HARVARD UNIVERSITY EMPLOYEES is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Harvard University Employees's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.83%.
Relative Fees (Closing Costs)
Harvard University Employees's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,149.
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.
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)||348||$153,450,000||$440,948||$2,368||3.80%|
|WORCESTER, MA-CT (FHA|USDA|VA)||21||$8,235,000||$392,143||$2,396||4.13%|
|PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)||16||$4,720,000||$295,000||$1,795||3.95%|
|Outside of Metro Areas||9||$2,255,000||$250,556||$2,447||4.81%|
|BARNSTABLE TOWN, MA (FHA|USDA|VA)||6||$2,070,000||$345,000||$1,522||3.23%|
|MANCHESTER-NASHUA, NH (FHA|USDA|VA)||2||$790,000||$395,000||$2,595||3.88%|
|NEW HAVEN-MILFORD, CT (FHA|USDA|VA)||2||$690,000||$345,000||$2,198||3.50%|
|BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)||1||$685,000||$685,000||$3,377||4.13%|
|SPRINGFIELD, MA (FHA|USDA|VA)||2||$610,000||$305,000||$2,600||4.63%|
|HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)||2||$580,000||$290,000||$3,485||5.19%|
|Vineyard Haven, MA (FHA|USDA|VA)||1||$525,000||$525,000||$3,113||2.50%|
|BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA)||1||$445,000||$445,000||$3,639||3.38%|
|Concord, NH (FHA|USDA|VA)||1||$385,000||$385,000||$2,995||4.50%|
|Lebanon, NH-VT (FHA|USDA|VA)||1||$285,000||$285,000||$2,530||2.75%|
|Barre, VT (FHA|USDA|VA)||1||$35,000||$35,000||$0||4.50%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Harvard University Employees's most frequently originated type of loan was Conventional, with 414 originations.
For 2022, Harvard University Employees's most frequently cited loan purpose was Home Purchase, with 232 originations. The 2nd most popular reason was Home Improvement, with 60 originations.
For 2022, Harvard University Employees's most frequently cited loan duration was 30 Year, with 270 originations. The 2nd most popular length was 15 Year, with 56 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Harvard University Employees's average total fees were $3,149, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 388 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Harvard University Employees's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 125 originations.
2022 saw Harvard University Employees place emphasis on $400k-600k loans with 111 originations, totaling $54,045,000 in origination value.
Harvard University Employees lent most frequently to those with incomes in the $150k-250k range, with 141 originations. The second most popular income band? $250k+, with 102 originations.
Applicant Debt to Income Ratio
Harvard University Employees lent most frequently to those with DTI ratios of 20-30%, with 104 originations. The next most common DTI ratio? 30-36%, with 65 originations.
Approval RatesTotal approvals of all applications
Harvard University Employees has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Harvard University Employees has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|