Harvard University Employees Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 549300XTSMAC5DOX6447

Tax ID: 04-6017806

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

Jump to:

  • 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)

    • Review & Overview

    Harvard University Employees is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Harvard University Employees has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, Barnstable Town, and Springfield among others. We have data for 9 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.

    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
    30 Year Conventional Purchase 6.26% 11/17/24
    30 Year Conventional Refi 6.26% 11/17/24
    30 Year Cash-out Refi 6.23% 11/17/24
    15 Year Conventional Purchase 5.62% 11/17/24
    15 Year Conventional Refi 5.61% 11/17/24
    15 Year Cash-out Refi 5.61% 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.

    Harvard University Employees Mortgage Calculator






    Your Estimates

    Estimated 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.


    Originations

    984

    Origination Dollar Volume (All Markets)

    $427,720,000

    Awards

    HARVARD UNIVERSITY EMPLOYEES 30 Year Conventional Loans silver HARVARD UNIVERSITY EMPLOYEES 30 Year Conventional Loans gold HARVARD UNIVERSITY EMPLOYEES 30 Year Conventional Loans gold
    Show all (3) 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) 908 $404,760,000 $445,771 $2,395 3.14%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 31 $9,375,000 $302,419 $2,133 3.13%
    WORCESTER, MA-CT (FHA|USDA|VA) 20 $6,450,000 $322,500 $2,189 3.21%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $3,185,000 $289,545 $2,484 3.02%
    SPRINGFIELD, MA (FHA|USDA|VA) 5 $1,295,000 $259,000 $2,490 3.15%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,280,000 $320,000 $2,098 3.31%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $660,000 $330,000 $1,372 3.25%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $450,000 $225,000 $2,031 3.06%
    Keene, NH (FHA|USDA|VA) 1 $265,000 $265,000 $2,340 3.50%
    Harvard University Employees's top markets include Boston, Providence, Worcester, Barnstable Town, and Springfield among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • 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.

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    CorePlus Federal Credit Union
    Similarity Rank: 710
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 984 $427,720,000 $434,675 $2,380 3.14%

    For 2020, Harvard University Employees's most frequently originated type of loan was Conventional, with 984 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 437 $185,015,000 $423,375 $2,157 3.08%
    Home Purchase 266 $140,600,000 $528,571 $3,057 3.21%
    Cash Out Refi 227 $97,175,000 $428,084 $2,506 3.10%
    Home Improvement 36 $2,600,000 $72,222 $120 3.54%
    Other 18 $2,330,000 $129,444 $807 3.17%

    For 2020, Harvard University Employees's most frequently cited loan purpose was Refi, with 437 originations. The 2nd most popular reason was Home Purchase, with 266 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 572 $294,790,000 $515,367 $2,733 3.25%
    15 Year 222 $75,850,000 $341,667 $2,152 2.81%
    20 Year 109 $43,065,000 $395,092 $1,982 3.29%
    10 Year 57 $10,475,000 $183,772 $1,178 2.88%
    Other 15 $3,125,000 $208,333 $1,173 3.33%
    5 Year 9 $415,000 $46,111 $17 3.38%

    For 2020, Harvard University Employees's most frequently cited loan duration was 30 Year, with 572 originations. The 2nd most popular length was 15 Year, with 222 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 922 $397,800,000 $431,453
    $2k-3k 16 $9,670,000 $604,375
    $5k+ 15 $7,855,000 $523,667
    $3k-4k 12 $4,020,000 $335,000
    $4k-5k 11 $4,515,000 $410,455
    $1k-2k 7 $3,635,000 $519,286

    Harvard University Employees's average total fees were $2,733, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 922 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 571 $268,805,000 $470,762
    2.5-3% 342 $144,830,000 $423,480
    <2.5% 42 $11,210,000 $266,905
    4-5% 29 $2,875,000 $99,138

    During 2020, Harvard University Employees's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 571 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 321 $98,775,000 $307,710 $2,152 3.09%
    $400k-600k 311 $152,115,000 $489,116 $2,615 3.17%
    $600k-1MM 153 $111,855,000 $731,078 $3,227 3.13%
    $100k-200k 100 $15,600,000 $156,000 $1,646 2.95%
    $100,000 or less 62 $3,320,000 $53,548 $127 3.59%
    $1MM+ 37 $46,055,000 $1,244,730 $4,650 3.04%

    2020 saw Harvard University Employees place emphasis on $200k-400k loans with 321 originations, totaling $98,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 352 $165,070,000 $468,949 $2,489 3.12%
    $100k-150k 263 $89,675,000 $340,970 $2,152 3.16%
    $250k+ 178 $122,050,000 $685,674 $2,904 3.09%
    $75k-100k 118 $34,960,000 $296,271 $2,050 3.16%
    $50k-75k 64 $14,590,000 $227,969 $1,940 3.23%
    $50k or less 9 $1,375,000 $152,778 $1,875 3.03%

    Harvard University Employees lent most frequently to those with incomes in the $150k-250k range, with 352 originations. The second most popular income band? $100k-150k, with 263 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 329 $145,515,000 $442,295 $2,384 3.08%
    30-36% 200 $86,820,000 $434,100 $2,419 3.17%
    <20% 131 $54,365,000 $415,000 $2,355 3.08%
    42% 45 $20,705,000 $460,111 $2,456 3.24%
    41% 38 $16,380,000 $431,053 $2,064 3.37%
    40% 38 $14,160,000 $372,632 $2,005 3.26%
    38% 36 $14,010,000 $389,167 $2,553 3.14%
    39% 33 $16,595,000 $502,879 $2,576 3.19%
    36% 32 $14,730,000 $460,313 $2,611 3.11%
    37% 25 $12,345,000 $493,800 $2,280 3.19%
    44% 21 $8,675,000 $413,095 $2,243 3.24%
    43% 19 $9,295,000 $489,211 $2,506 3.05%
    47% 10 $3,200,000 $320,000 $2,394 3.10%
    49% 7 $3,245,000 $463,571 $2,346 3.05%
    46% 7 $2,725,000 $389,286 $2,335 3.14%
    48% 7 $1,995,000 $285,000 $2,158 3.09%
    45% 6 $2,960,000 $493,333 $2,722 3.08%

    Harvard University Employees lent most frequently to those with DTI ratios of 20-30%, with 329 originations. The next most common DTI ratio? 30-36%, with 200 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 684 $292,470,000 $427,588 $2,382 3.15%
    Not provided 128 $58,800,000 $459,375 $2,464 3.14%
    Asian 84 $37,830,000 $450,357 $2,282 3.07%
    Black 41 $16,395,000 $399,878 $2,188 3.19%
    Asian Indian 21 $10,465,000 $498,333 $2,419 3.11%
    Other Asian 9 $4,555,000 $506,111 $2,669 3.19%
    Chinese 7 $2,405,000 $343,571 $2,372 2.86%
    American Indian 4 $2,310,000 $577,500 $2,417 3.00%
    Korean 3 $1,395,000 $465,000 $2,824 2.96%
    Other Pacific Islander 1 $505,000 $505,000 $2,928 3.13%
    Native Hawaiian or Islander 1 $485,000 $485,000 $2,440 3.13%
    Vietnamese 1 $105,000 $105,000 $1,468 2.38%

    Approval Rates

    Total approvals of all applications
    94.84%

    Harvard University Employees has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.86%

    Harvard University Employees has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 984 $427,720,000 $434,675

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 984 $427,720,000 $434,675

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 103 $29,425,000 $285,680 $1,924 2.91%
    40-60% 169 $74,545,000 $441,095 $2,506 2.97%
    60-80% 400 $196,990,000 $492,475 $2,543 3.17%
    80-100% 210 $108,840,000 $518,286 $2,892 3.21%
    Under 20% 76 $6,590,000 $86,711 $487 3.48%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HARBORONE MORTGAGE, LLC Conventional home mortgage Trouble during payment process 2 66.7%
    HARBORONE MORTGAGE, LLC FHA mortgage Trouble during payment process 1 33.3%