Bayport Funding Mortgage Rates, Fees & Info
GREAT NECK, NYLEI: 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, Miami, Tampa, Kingston, and Lakeland among others. We have data for 5 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 an above average pick rate when compared to similar lenders. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
133Origination Dollar Volume (All Markets)
$77,585,000Top 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) | 126 | $75,490,000 | $599,127 | $0 | 11.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,625,000 | $541,667 | $0 | 11.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 11.99% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 11.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 11.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 133 | $77,585,000 | $583,346 | $0 | 11.99% |
For 2020, Bayport Funding's most frequently originated type of loan was Conventional, with 133 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 132 | $77,220,000 | $585,000 | $0 | 11.99% |
| Home Improvement | 1 | $365,000 | $365,000 | $0 | 0.00% |
For 2020, Bayport Funding's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 127 | $68,325,000 | $537,992 | $0 | 11.99% |
| Other | 5 | $8,995,000 | $1,799,000 | $0 | 11.99% |
| 30 Year | 1 | $265,000 | $265,000 | $0 | 11.99% |
For 2020, Bayport Funding's most frequently cited loan duration was 1 Year, with 127 originations. The 2nd most popular length was Other, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 81 | $49,895,000 | $615,988 |
During 2020, Bayport Funding's average interest rate for loans was 11.99%, while their most frequently originated rate bucket for loans was Over 8%, with 81 originations.
Loan Sizing
2020 saw Bayport Funding place emphasis on $200k-400k loans with 46 originations, totaling $13,910,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.91%
Bayport Funding has an average approval rate.
Pick Rate
Approvals leading to origination95.49%
Bayport Funding has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 133 | $77,585,000 | $583,346 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 11 | $18,225,000 | $1,656,818 |
| Single Family (1-4 Units):Site-Built | 122 | $59,360,000 | $486,557 |