Bay Mortgage Rates, Fees & Info

Capitola, CA

LEI: 549300KZC4KKV3F7W494

Tax ID: 94-1448021

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

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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.

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
Home Equity Line of Credit (HELOC) 4.16% 3/24/24
30 Year Conventional Purchase 6.29% 3/24/24
30 Year Conventional Refi 6.65% 3/24/24
30 Year Cash-out Refi 6.60% 3/24/24
15 Year Conventional Purchase 6.23% 3/24/24
15 Year Conventional Refi 7.02% 3/24/24
15 Year Cash-out Refi 7.02% 3/24/24
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






Your Estimates

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

This is not an official calculator from Bay. 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

299

Origination Dollar Volume (All Markets)

$89,695,000

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
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%
Bay's top markets include Santa Cruz, Salinas, San Jose, Los Angeles, and Sacramento among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Similar Lenders

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

    Monterey Credit Union
    Similarity Rank: 16
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    Similarity Rank: 20
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 100 $37,310,000 $373,100 $0 0.00%
    Cash Out Refi 79 $26,355,000 $333,608 $0 0.00%
    Other 49 $9,765,000 $199,286 $0 0.00%
    Home Improvement 40 $5,500,000 $137,500 $0 0.00%
    Refi 31 $10,765,000 $347,258 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 98 $27,990,000 $285,612 $0 0.00%
    $400k-600k 61 $29,175,000 $478,279 $0 0.00%
    $100,000 or less 56 $3,280,000 $58,571 $0 0.00%
    $100k-200k 55 $7,935,000 $144,273 $0 0.00%
    $600k-1MM 28 $20,120,000 $718,571 $0 0.00%
    $1MM+ 1 $1,195,000 $1,195,000 $0 0.00%

    2018 saw Bay place emphasis on $200k-400k loans with 98 originations, totaling $27,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 73 $28,365,000 $388,562 $0 0.00%
    $50k-75k 62 $12,150,000 $195,968 $0 0.00%
    $75k-100k 43 $12,685,000 $295,000 $0 0.00%
    $150k-250k 42 $21,420,000 $510,000 $0 0.00%
    $50k or less 31 $5,015,000 $161,774 $0 0.00%
    $250k+ 8 $5,530,000 $691,250 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 276 $81,500,000 $295,290 $0 0.00%
    Not provided 7 $3,245,000 $463,571 $0 0.00%
    Asian 5 $2,295,000 $459,000 $0 0.00%
    American Indian 8 $1,720,000 $215,000 $0 0.00%
    Native Hawaiian or Islander 2 $790,000 $395,000 $0 0.00%
    Black 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.39%

    Bay has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    40.47%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 76 $13,780,000 $181,316
    Single Family (1-4 Units):Site-Built 223 $75,915,000 $340,426