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 Cash Out Refi, Refi, and Home Purchase loans. Bay has a high proportion of conventional loans. Their top markets by origination volume include: Santa Cruz, Salinas, San Jose, Sacramento, and Merced among others. We have data for 21 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. Bay 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.16% | 4/18/24 |
| 30 Year Conventional Purchase | 6.29% | 4/18/24 |
| 30 Year Conventional Refi | 6.65% | 4/18/24 |
| 30 Year Cash-out Refi | 6.60% | 4/18/24 |
| 15 Year Conventional Purchase | 6.23% | 4/18/24 |
| 15 Year Conventional Refi | 7.02% | 4/18/24 |
| 15 Year Cash-out Refi | 7.02% | 4/18/24 |
| 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
722Origination Dollar Volume (All Markets)
$221,410,000Top 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) | 584 | $174,220,000 | $298,322 | $4,385 | 3.20% |
| SALINAS, CA (FHA|USDA|VA) | 75 | $23,365,000 | $311,533 | $3,681 | 3.26% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 24 | $10,950,000 | $456,250 | $3,655 | 3.26% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 6 | $2,640,000 | $440,000 | $3,702 | 3.08% |
| MERCED, CA (FHA|USDA|VA) | 5 | $1,785,000 | $357,000 | $3,550 | 3.40% |
| CHICO, CA (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $15,628 | 3.18% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $12,115 | 2.75% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $2,661 | 3.16% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $6,249 | 2.88% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $3,510 | 3.08% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,065 | 3.00% |
| MADERA, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,649 | 3.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,923 | 2.93% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $3,610 | 2.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $6,558 | 2.75% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,826 | 3.19% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,757 | 3.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.00% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,368 | 2.63% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.99% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 485 | $187,465,000 | $386,526 | $4,294 | 3.31% |
| HELOC | 237 | $33,945,000 | $143,228 | n/a | 2.99% |
For 2021, Bay's most frequently originated type of loan was Conventional, with 485 originations. Their 2nd most popular type was HELOC, with 237 originations.
Loan Reason
For 2021, Bay's most frequently cited loan purpose was Home Improvement, with 197 originations. The 2nd most popular reason was Cash Out Refi, with 174 originations.
Loan Duration/Length
For 2021, Bay's most frequently cited loan duration was 30 Year, with 322 originations. The 2nd most popular length was Other, with 237 originations.
Origination Fees/Closing Costs
Bay's average total fees were $4,566, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 209 originations.
Interest Rates
During 2021, Bay's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 396 originations.
Loan Sizing
2021 saw Bay place emphasis on $200k-400k loans with 259 originations, totaling $72,515,000 in origination value.
Applicant Income
Bay lent most frequently to those with incomes in the $100k-150k range, with 197 originations. The second most popular income band? $150k-250k, with 173 originations.
Applicant Debt to Income Ratio
Bay lent most frequently to those with DTI ratios of <20%, with 197 originations. The next most common DTI ratio? 20-30%, with 124 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.92%
Bay has a below average approval rate.
Pick Rate
Approvals leading to origination79.36%
Bay has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 722 | $221,410,000 | $306,662 |