Bay Mortgage Rates, Fees & Info
Capitola, CALEI: 549300KZC4KKV3F7W494
Tax ID: 94-1448021
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Mortgage Data
Review & Overview
Bay is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Bay has a high proportion of conventional loans. Their top markets by origination volume include: Santa Cruz, Salinas, San Jose, Los Angeles, and Sacramento among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Bay 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.16% | 11/17/24 |
| 30 Year Conventional Purchase | 6.29% | 11/17/24 |
| 30 Year Conventional Refi | 6.65% | 11/17/24 |
| 30 Year Cash-out Refi | 6.60% | 11/17/24 |
| 15 Year Conventional Purchase | 6.23% | 11/17/24 |
| 15 Year Conventional Refi | 7.02% | 11/17/24 |
| 15 Year Cash-out Refi | 7.02% | 11/17/24 |
| 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 Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
299Origination Dollar Volume (All Markets)
$89,695,000Top 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 |
|---|---|---|---|---|---|
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 246 | $73,660,000 | $299,431 | $0 | 0.00% |
| SALINAS, CA (FHA|USDA|VA) | 23 | $6,865,000 | $298,478 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 15 | $5,405,000 | $360,333 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 0.00% |
| MERCED, CA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 0.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $165,000 | $165,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 299 | $89,695,000 | $299,983 | $0 | 0.00% |
For 2018, Bay's most frequently originated type of loan was Conventional, with 299 originations.
Loan Reason
For 2018, Bay's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Cash Out Refi, with 79 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 299 | $89,695,000 | $299,983 | $0 | 0.00% |
For 2018, Bay's most frequently cited loan duration was Other, with 299 originations.
Loan Sizing
2018 saw Bay place emphasis on $200k-400k loans with 98 originations, totaling $27,990,000 in origination value.
Applicant Income
Bay lent most frequently to those with incomes in the $100k-150k range, with 73 originations. The second most popular income band? $50k-75k, with 62 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 299 | $89,695,000 | $299,983 | $0 | 0.00% |
Bay lent most frequently to those with DTI ratios of Exempt%, with 299 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.39%
Bay has a below average approval rate.
Pick Rate
Approvals leading to origination40.47%
Bay 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 |
|---|---|---|---|
| Exempt | 299 | $89,695,000 | $299,983 |