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 Refi loans. Bayport Funding has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Trenton, Hudson, and Chicago among others. We have data for 15 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 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
161Origination Dollar Volume (All Markets)
$122,395,000Top 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) | 120 | $96,790,000 | $806,583 | $0 | 8.69% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 18 | $19,930,000 | $1,107,222 | $0 | 9.11% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $0 | 6.93% |
| Hudson, NY (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 10.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 7.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 9.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 10.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 9.75% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 6.38% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $0 | 8.22% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 4.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.25% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.25% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $122,395,000 | $760,217 | $0 | 8.60% |
For 2021, Bayport Funding's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 161 | $122,395,000 | $760,217 | $0 | 8.60% |
For 2021, Bayport Funding's most frequently cited loan purpose was Refi, with 161 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 139 | $112,425,000 | $808,813 | $0 | 9.25% |
| 30 Year | 21 | $8,975,000 | $427,381 | $0 | 4.23% |
| Other | 1 | $995,000 | $995,000 | $0 | 9.00% |
For 2021, Bayport Funding's most frequently cited loan duration was 1 Year, with 139 originations. The 2nd most popular length was 30 Year, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 123 | $92,735,000 | $753,943 |
| 4-5% | 12 | $6,130,000 | $510,833 |
| 3-4% | 11 | $3,795,000 | $345,000 |
| 7-8% | 9 | $17,645,000 | $1,960,556 |
| 5-6% | 6 | $2,090,000 | $348,333 |
During 2021, Bayport Funding's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was Over 8%, with 123 originations.
Loan Sizing
2021 saw Bayport Funding place emphasis on $200k-400k loans with 42 originations, totaling $12,440,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.91%
Bayport Funding has an average approval rate.
Pick Rate
Approvals leading to origination47.83%
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 | 161 | $122,395,000 | $760,217 |