HarborOne Mortgage Interest Rate and Cost Review

Is HarborOne Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by HarborOne Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of HarborOne Mortgage nationally:

Review ItemHarborOne Mortgage
Interest Ratesimilar to other lenders (-0.04%)
Loan Related Closing Costssimilar to other lenders (-$149)
National Rate and Closing Cost Star Rating(3.5)

On average, HarborOne Mortgage’s interest rates were similar to those of other lenders (-0.04%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$149. Overall, combining interest rates and closing costs we estimate that HarborOne Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit HarborOne Mortgage, its website is located at: https://www.harboronemortgage.com.

HarborOne Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track HarborOne Mortgage was most active in:

  1. Manchester, NH
  2. Boston, MA
  3. Providence, RI
  4. Springfield, MA
  5. Portland, ME

HarborOne Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, HarborOne Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.04%+0.08%+0.02%+0.01%+0.03%
Loan Related Closing Cost Difference+$43+$55+$95+$32-$129
Cost Adjusted Rate Difference-0.04%+0.08%+0.02%+0.01%+0.03%
National Star Rating(3.5)(3)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.10%+0.01%+0.01%+0.00%+0.00%
Loan Related Closing Cost Difference-$498-$141-$39+$0-$618
Cost Adjusted Rate Difference-0.13%-0.00%+0.01%+0.00%-0.03%
Average Star Rating(4)(3.5)(3.5)(3.5)(3.5)

As a summary, HarborOne Mortgage is similar to other lenders for Conforming, Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for FHA purchase mortgages. For refinancing, HarborOne Mortgage is cheap for Conforming mortgage refinance. It is similar to other lenders for FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about HarborOne Mortgage:

Registered name: HarborOne Mortgage
Registered city and state: MANCHESTER, NH, 03101
Regulator: Federal Deposit Insurance Corporation (FDIC)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for HarborOne Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.