Bayport Funding Mortgage Rates, Fees & Info

GREAT NECK, NY

LEI: 5493001QR7MEE12WC276

Tax ID: 45-3655786

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Mortgage Data

Review & Overview

Bayport Funding is a smaller mortgage company specializing in Home Purchase loans. Bayport Funding has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Bridgeport, and Allentown among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bayport Funding 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. They typically have relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 3/28/24
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.

Bayport Funding Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Bayport Funding. 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

126

Origination Dollar Volume (All Markets)

$148,970,000

Relative Rate

Bayport Funding's average 30 year fixed mortgage rate was 8.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.82%.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 105 $125,115,000 $1,191,571 $0 11.57%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $8,085,000 $1,617,000 $0 11.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $6,375,000 $910,714 $0 11.75%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $6,005,000 $6,005,000 $0 11.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $920,000 $460,000 $0 11.63%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $875,000 $875,000 $0 11.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $425,000 $425,000 $0 9.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $405,000 $405,000 $0 8.50%
KINGSTON, NY (FHA|USDA|VA) 1 $305,000 $305,000 $0 12.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 12.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $0 12.00%
Bayport Funding's top markets include New York, Philadelphia, Miami, Bridgeport, and Allentown among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 126 $148,970,000 $1,182,302 $0 11.52%

    For 2023, Bayport Funding's most frequently originated type of loan was Conventional, with 126 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $144,705,000 $1,176,463 $0 11.52%
    Refi 3 $4,265,000 $1,421,667 $0 11.83%

    For 2023, Bayport Funding's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 106 $104,760,000 $988,302 $0 11.70%
    Other 13 $40,415,000 $3,108,846 $0 11.81%
    30 Year 7 $3,795,000 $542,143 $0 8.30%

    For 2023, Bayport Funding's most frequently cited loan duration was 1 Year, with 106 originations. The 2nd most popular length was Other, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 123 $147,555,000 $1,199,634
    7-8% 3 $1,415,000 $471,667

    During 2023, Bayport Funding's average interest rate for loans was 8.30%, while their most frequently originated rate bucket for loans was Over 8%, with 123 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 43 $108,985,000 $2,534,535 $0 11.63%
    $400k-600k 32 $15,330,000 $479,063 $0 11.27%
    $200k-400k 24 $7,670,000 $319,583 $0 11.39%
    $600k-1MM 21 $16,145,000 $768,810 $0 11.74%
    $100k-200k 6 $840,000 $140,000 $0 11.92%

    2023 saw Bayport Funding place emphasis on $1MM+ loans with 43 originations, totaling $108,985,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $124,900,000 $1,328,723 $0 11.54%
    Not provided 16 $11,510,000 $719,375 $0 11.68%
    Black 10 $6,530,000 $653,000 $0 11.31%
    Asian 6 $6,030,000 $1,005,000 $0 11.25%

    Approval Rates

    Total approvals of all applications
    93.61%

    Bayport Funding has an average approval rate.

    Pick Rate

    Approvals leading to origination
    62.70%

    Bayport Funding has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 126 $148,970,000 $1,182,302

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    126 $148,970,000 $1,182,302

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $7,735,000 $703,182 $0 11.89%
    40-60% 49 $65,465,000 $1,336,020 $0 11.60%
    60-80% 60 $68,460,000 $1,141,000 $0 11.40%
    80-100% 1 $405,000 $405,000 $0 9.99%
    Over 100% 1 $2,605,000 $2,605,000 $0 12.00%
    Under 20% 4 $4,300,000 $1,075,000 $0 11.75%