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, New Haven, Dallas, and Myrtle Beach among others. We have data for 16 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.
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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
190Origination Dollar Volume (All Markets)
$191,450,000Top 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) | 142 | $161,710,000 | $1,138,803 | $0 | 9.35% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 22 | $20,640,000 | $938,182 | $0 | 9.23% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $1,995,000 | $1,995,000 | $0 | 4.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $0 | 11.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $0 | 9.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 8.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 9.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $0 | 8.25% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 6.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 9.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 5.90% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 5.63% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 9.50% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 190 | $191,450,000 | $1,007,632 | $0 | 9.20% |
For 2022, Bayport Funding's most frequently originated type of loan was Conventional, with 190 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 190 | $191,450,000 | $1,007,632 | $0 | 9.20% |
For 2022, Bayport Funding's most frequently cited loan purpose was Home Purchase, with 190 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 172 | $163,830,000 | $952,500 | $0 | 9.33% |
| Other | 10 | $22,900,000 | $2,290,000 | $0 | 9.71% |
| 30 Year | 8 | $4,720,000 | $590,000 | $0 | 5.94% |
For 2022, Bayport Funding's most frequently cited loan duration was 1 Year, with 172 originations. The 2nd most popular length was Other, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 164 | $168,010,000 | $1,024,451 |
| 7-8% | 14 | $17,770,000 | $1,269,286 |
| 4-5% | 8 | $4,520,000 | $565,000 |
| 5-6% | 4 | $1,150,000 | $287,500 |
During 2022, Bayport Funding's average interest rate for loans was 5.94%, while their most frequently originated rate bucket for loans was Over 8%, with 164 originations.
Loan Sizing
2022 saw Bayport Funding place emphasis on $200k-400k loans with 49 originations, totaling $15,325,000 in origination value.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.25%
Bayport Funding has an average approval rate.
Pick Rate
Approvals leading to origination80.53%
Bayport Funding has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 190 | $191,450,000 | $1,007,632 |