Bay Area Credit Union Mortgage Rates, Fees & Info

Oregon, OH

LEI: 5493005JSMO6YKNVQ426

Tax ID: 34-4360015

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bay Area Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Bay Area Credit Union has a high proportion of conventional loans. Their top (well, only) market is Toledo.

    Bay Area Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bay Area Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.63% 12/16/24
    30 Year Cash-out Refi 6.74% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.83% 12/16/24
    15 Year Cash-out Refi 5.83% 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.

    Bay Area Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bay Area Credit Union. 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

    46

    Origination Dollar Volume (All Markets)

    $5,240,000

    Awards

    Bay Area Credit Union 30 Year Conventional Loans silver Bay Area Credit Union 30 Year Conventional Loans silver Bay Area Credit Union 30 Year Conventional Loans gold
    Show all (3) awards

    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
    TOLEDO, OH (FHA|USDA|VA) 46 $5,240,000 $113,913 $1,825 4.64%
    Bay Area Credit Union's top markets include and Toledo among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bay Area Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bay Area Credit Union, Inc.
    Similarity Rank: 13
    JEEP COUNTRY
    Similarity Rank: 78
    First Federal Savings and Loan Association of Delta
    Similarity Rank: 126
    First National Bank of Bellevue
    Similarity Rank: 380
    POLARIS HOME FUNDING CORP.
    Similarity Rank: 418
    THE BANKERS GUARANTEE TITLE & TRUST COMPANY
    Similarity Rank: 561
    The Genoa Banking Company
    Similarity Rank: 840
    SUN Federal Credit Union
    Similarity Rank: 875
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1044
    HOME MORTGAGE ASSURED CORPORATION
    Similarity Rank: 1312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $5,240,000 $113,913 $1,825 4.64%

    For 2019, Bay Area Credit Union's most frequently originated type of loan was Conventional, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $3,200,000 $133,333 $2,570 4.08%
    Other 9 $375,000 $41,667 $0 6.36%
    Refi 7 $1,135,000 $162,143 $2,164 3.79%
    Home Improvement 3 $55,000 $18,333 $176 5.83%
    Cash Out Refi 3 $475,000 $158,333 $2,189 4.67%

    For 2019, Bay Area Credit Union's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Other, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 22 $2,930,000 $133,182 $2,445 4.02%
    15 Year 11 $1,095,000 $99,545 $1,436 4.84%
    10 Year 4 $180,000 $45,000 $0 6.25%
    5 Year 4 $160,000 $40,000 $488 5.94%
    20 Year 3 $535,000 $178,333 $2,633 3.92%
    Other 2 $340,000 $170,000 $2,254 5.50%

    For 2019, Bay Area Credit Union's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 45 $5,175,000 $115,000
    $1k-2k 1 $65,000 $65,000

    Bay Area Credit Union's average total fees were $2,445, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 45 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 24 $3,330,000 $138,750
    4-5% 8 $1,190,000 $148,750
    6-7% 7 $265,000 $37,857
    5-6% 6 $420,000 $70,000
    7-8% 1 $35,000 $35,000

    During 2019, Bay Area Credit Union's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 3-4%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,265,000 $50,600 $1,214 5.13%
    $100k-200k 15 $2,165,000 $144,333 $2,392 4.08%
    $200k-400k 5 $1,395,000 $279,000 $2,828 4.03%
    $400k-600k 1 $415,000 $415,000 $3,571 3.50%

    2019 saw Bay Area Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 12 $790,000 $65,833 $1,428 4.95%
    $50k or less 10 $670,000 $67,000 $1,539 4.76%
    $100k-150k 9 $1,665,000 $185,000 $2,052 4.40%
    $75k-100k 9 $1,085,000 $120,556 $1,819 4.47%
    $150k-250k 4 $520,000 $130,000 $2,632 4.81%
    $250k+ 2 $510,000 $255,000 $3,019 3.56%

    Bay Area Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $50k or less, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $1,255,000 $139,444 $2,454 3.92%
    30-36% 8 $570,000 $71,250 $611 5.73%
    <20% 7 $705,000 $100,714 $2,275 4.05%
    37% 4 $620,000 $155,000 $2,352 5.00%
    36% 3 $395,000 $131,667 $2,311 4.83%
    41% 3 $265,000 $88,333 $1,533 4.79%
    39% 2 $100,000 $50,000 $1,182 5.31%
    45% 2 $210,000 $105,000 $1,788 3.75%
    49% 2 $240,000 $120,000 $2,093 3.38%
    50-60% 1 $145,000 $145,000 $2,275 6.00%
    38% 1 $335,000 $335,000 $2,803 3.88%
    40% 1 $75,000 $75,000 $0 5.50%
    42% 1 $195,000 $195,000 $2,785 3.63%
    43% 1 $105,000 $105,000 $2,099 5.25%
    48% 1 $25,000 $25,000 $0 5.75%

    Bay Area Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $4,650,000 $110,714 $1,819 4.65%
    Not provided 4 $590,000 $147,500 $1,889 4.44%

    Approval Rates

    Total approvals of all applications
    88.33%

    Bay Area Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.78%

    Bay Area Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 46 $5,240,000 $113,913

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 46 $5,240,000 $113,913

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $185,000 $37,000 $106 6.70%
    40-60% 6 $480,000 $80,000 $1,041 4.89%
    60-80% 10 $1,490,000 $149,000 $2,445 4.25%
    80-100% 21 $3,005,000 $143,095 $2,510 4.08%
    Under 20% 4 $80,000 $20,000 $0 5.56%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BROKER SOLUTIONS, INC. VA mortgage Struggling to pay mortgage 1 3.1%
    BROKER SOLUTIONS, INC. Other type of mortgage Trouble during payment process 2 6.3%
    BROKER SOLUTIONS, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.1%
    BROKER SOLUTIONS, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 6.3%
    BROKER SOLUTIONS, INC. VA mortgage Closing on a mortgage 1 3.1%
    BROKER SOLUTIONS, INC. Conventional home mortgage Struggling to pay mortgage 3 9.4%
    BROKER SOLUTIONS, INC. Conventional home mortgage Trouble during payment process 11 34.4%
    BROKER SOLUTIONS, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 12.5%
    BROKER SOLUTIONS, INC. FHA mortgage Closing on a mortgage 4 12.5%
    BROKER SOLUTIONS, INC. FHA mortgage Struggling to pay mortgage 1 3.1%
    BROKER SOLUTIONS, INC. FHA mortgage Trouble during payment process 1 3.1%
    BROKER SOLUTIONS, INC. Other type of mortgage Closing on a mortgage 1 3.1%