Bay Capital Mortgage Corporation Rates, Fees & Info
ANNAPOLIS, MDLEI: 549300LT75BG7Z054795
Tax ID: 52-1867436
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Bay Capital Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Bay Capital Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Baltimore, Washington, Easton, Salisbury, and California among others. Bay Capital Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Bay Capital Mortgage Corporation is typically an average fee lendor.Originations
2,896Origination Dollar Volume (All Markets)
$968,620,000Awards
BAY CAPITAL MORTGAGE CORPORATION - 2021
BAY CAPITAL MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Bay Capital Mortgage Corporation's average 30 year fixed rate mortgage of loans were
2.91%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.24%.
Relative Fees
Bay Capital Mortgage Corporation's average total fees for a 30 year fixed rate
mortgage are $5,755.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1,219 | $444,585,000 | $364,713 | $5,599 | 2.87% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 658 | $237,170,000 | $360,441 | $6,024 | 2.87% |
| Easton, MD (FHA|USDA|VA) | 156 | $51,940,000 | $332,949 | $4,357 | 2.86% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 145 | $42,915,000 | $295,966 | $4,210 | 2.99% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 103 | $32,915,000 | $319,563 | $6,490 | 2.80% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 119 | $30,345,000 | $255,000 | $5,503 | 2.82% |
| Outside of Metro Areas | 121 | $27,725,000 | $229,132 | $4,140 | 2.83% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 84 | $20,680,000 | $246,190 | $4,411 | 2.91% |
| GETTYSBURG, PA (FHA|USDA|VA) | 79 | $20,415,000 | $258,418 | $4,866 | 2.86% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 34 | $9,700,000 | $285,294 | $6,840 | 3.24% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 27 | $7,025,000 | $260,185 | $6,120 | 2.87% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 17 | $5,765,000 | $339,118 | $5,004 | 2.76% |
| Cambridge, MD (FHA|USDA|VA) | 18 | $3,940,000 | $218,889 | $4,280 | 2.87% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 9 | $3,745,000 | $416,111 | $4,414 | 2.86% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $2,885,000 | $577,000 | $5,204 | 3.30% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 8 | $2,440,000 | $305,000 | $5,376 | 2.92% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 11 | $2,365,000 | $215,000 | $5,522 | 2.80% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 9 | $2,005,000 | $222,778 | $4,847 | 2.78% |
| RICHMOND, VA (FHA|USDA|VA) | 6 | $1,980,000 | $330,000 | $6,959 | 2.79% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 9 | $1,945,000 | $216,111 | $4,217 | 2.86% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $3,854 | 2.81% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $7,778 | 2.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $8,065 | 2.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $5,133 | 2.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $4,694 | 3.08% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $4,016 | 2.84% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $14,468 | 2.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $4,091 | 3.42% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,309 | 2.83% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,084 | 3.06% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $3,995 | 2.58% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $4,379 | 2.96% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,840 | 2.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,371 | 3.00% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,707 | 2.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $480 | 2.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,054 | 2.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,234 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $9,799 | 2.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,823 | 3.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,535 | 2.75% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,411 | 2.50% |
| DOVER, DE (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,512 | 3.25% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,295 | 2.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,376 | 2.88% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,619 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,802 | 2.88% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,151 | 2.75% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,219 | 3.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,692 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,629 | 2.75% |
Bay Capital Mortgage Corporation's top markets include Baltimore, Washington, Easton, Salisbury, and California among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,103 | $684,785,000 | $325,623 | $4,228 | 2.96% |
| VA | 395 | $165,145,000 | $418,089 | $8,724 | 2.57% |
| FHA | 273 | $86,555,000 | $317,051 | $9,522 | 2.78% |
| USDA | 125 | $32,135,000 | $257,080 | $6,277 | 2.64% |
For the 2021 period, Bay Capital Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 2,103 originations. Their 2nd most popular type is VA, with 395 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,523 | $546,585,000 | $358,887 | $6,669 | 2.90% |
| Refi | 1,021 | $309,685,000 | $303,315 | $3,843 | 2.78% |
| Cash Out Refi | 352 | $112,350,000 | $319,176 | $4,855 | 3.01% |
For the 2021, Bay Capital Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 1,523 originations. The 2nd most popular reason of loans were Refi, with 1,021 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,533 | $874,885,000 | $345,395 | $5,755 | 2.91% |
| 15 Year | 219 | $55,545,000 | $253,630 | $3,455 | 2.52% |
| 20 Year | 94 | $24,650,000 | $262,234 | $3,423 | 2.84% |
| Other | 34 | $9,480,000 | $278,824 | $3,624 | 3.06% |
| 10 Year | 16 | $4,060,000 | $253,750 | $3,040 | 2.39% |
For the 2021, Bay Capital Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 2,533 originations. The 2nd most popular length of loans were 15 Year, with 219 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 2,398 | $773,960,000 | $322,752 |
| $2k-3k | 181 | $59,625,000 | $329,420 |
| $3k-4k | 145 | $56,705,000 | $391,069 |
| $<1k | 98 | $39,570,000 | $403,776 |
| $5k+ | 74 | $38,760,000 | $523,784 |
$5,755 of loans were Bay Capital Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,398 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,588 | $534,070,000 | $336,316 |
| 3-4% | 737 | $248,105,000 | $336,642 |
| <2.5% | 514 | $170,840,000 | $332,374 |
| 4-5% | 15 | $3,405,000 | $227,000 |
| 5-6% | 1 | $255,000 | $255,000 |
| 6-7% | 1 | $125,000 | $125,000 |
During 2021, Bay Capital Mortgage Corporation's average interest rate of loans were 2.91%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,588 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,550 | $454,330,000 | $293,116 | $5,113 | 2.86% |
| $400k-600k | 674 | $323,620,000 | $480,148 | $6,637 | 2.85% |
| $100k-200k | 502 | $80,810,000 | $160,976 | $3,566 | 2.93% |
| $600k-1MM | 114 | $81,530,000 | $715,175 | $10,852 | 2.93% |
| $100,000 or less | 37 | $3,045,000 | $82,297 | $2,941 | 2.81% |
| $1MM+ | 19 | $25,285,000 | $1,330,789 | $7,871 | 2.89% |
2021 saw Bay Capital Mortgage Corporation place emphasis on $200k-400k loans with 1,550 originations, totaling $454,330,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 722 | $253,590,000 | $351,233 | $5,700 | 2.90% |
| $75k-100k | 553 | $162,615,000 | $294,060 | $5,581 | 2.90% |
| $150k-250k | 543 | $227,665,000 | $419,273 | $5,695 | 2.91% |
| $50k-75k | 538 | $131,030,000 | $243,550 | $5,238 | 2.86% |
| $50k or less | 323 | $81,085,000 | $251,037 | $4,316 | 2.65% |
| $250k+ | 216 | $112,250,000 | $519,676 | $6,147 | 2.97% |
Bay Capital Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 722 originations. The second most popular income band? $75k-100k, with 553 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 683 | $220,465,000 | $322,789 | $4,732 | 2.87% |
| 30-36% | 590 | $203,930,000 | $345,644 | $5,645 | 2.90% |
| <20% | 248 | $75,720,000 | $305,323 | $4,018 | 2.80% |
| 44% | 111 | $34,635,000 | $312,027 | $5,471 | 2.99% |
| 42% | 108 | $34,830,000 | $322,500 | $6,138 | 3.00% |
| 43% | 107 | $35,035,000 | $327,430 | $5,827 | 2.91% |
| 39% | 104 | $34,830,000 | $334,904 | $5,572 | 2.94% |
| 40% | 101 | $36,315,000 | $359,554 | $6,263 | 2.92% |
| 37% | 101 | $34,365,000 | $340,248 | $6,165 | 2.98% |
| 38% | 98 | $32,060,000 | $327,143 | $6,143 | 2.88% |
| 36% | 97 | $32,465,000 | $334,691 | $5,236 | 2.97% |
| 41% | 83 | $29,705,000 | $357,892 | $5,864 | 2.93% |
| 45% | 65 | $23,635,000 | $363,615 | $7,316 | 2.87% |
| 46% | 64 | $23,170,000 | $362,031 | $6,731 | 2.86% |
| 47% | 63 | $21,425,000 | $340,079 | $5,614 | 2.89% |
| 48% | 52 | $16,100,000 | $309,615 | $5,998 | 2.91% |
| 49% | 51 | $16,795,000 | $329,314 | $7,223 | 2.94% |
| 50-60% | 37 | $16,095,000 | $435,000 | $10,884 | 2.72% |
Bay Capital Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 683 originations. The next most common DTI ratio? 30-36%, with 590 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,259 | $744,345,000 | $329,502 | $5,138 | 2.87% |
| Black | 356 | $122,360,000 | $343,708 | $6,915 | 2.90% |
| Not provided | 208 | $74,680,000 | $359,038 | $6,405 | 2.86% |
| Asian | 52 | $20,100,000 | $386,538 | $5,759 | 2.91% |
| American Indian | 12 | $4,600,000 | $383,333 | $6,525 | 2.85% |
| Asian Indian | 4 | $1,040,000 | $260,000 | $3,210 | 2.75% |
| 2 | $910,000 | $455,000 | $3,975 | 3.13% | |
| Native Hawaiian | 2 | $390,000 | $195,000 | $5,468 | 2.81% |
| Other Asian | 1 | $195,000 | $195,000 | $2,622 | 3.25% |
Approval Rates
Total approvals of all applications95.56%
Bay Capital Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.98%
Bay Capital Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,896 | $968,620,000 | $334,468 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,896 | $968,620,000 | $334,468 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 93 | $19,655,000 | $211,344 | $3,047 | 2.77% |
| 40-60% | 339 | $87,805,000 | $259,012 | $3,361 | 2.83% |
| 60-80% | 974 | $322,790,000 | $331,407 | $4,162 | 2.97% |
| 80-100% | 1,372 | $487,770,000 | $355,517 | $6,166 | 2.84% |
| Over 100% | 115 | $49,965,000 | $434,478 | $14,957 | 2.69% |
| Under 20% | 2 | $250,000 | $125,000 | $2,993 | 2.88% |
