Bay Capital Mortgage Corporation Rates, Fees & Info

ANNAPOLIS, MD

LEI: 549300LT75BG7Z054795

Tax ID: 52-1867436

4.3 stars - Updated: 6/16/24 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

Bay Capital Mortgage Corporation is a smaller mortgage company specializing in Home Purchase 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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Baltimore, Washington, California, Tallahassee, and Gettysburg among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bay Capital Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bay Capital Mortgage Corporation is typically a high 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 relatively high 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 6.47% 6/16/24
30 Year Conventional Refi 6.56% 6/16/24
30 Year Cash-out Refi 6.64% 6/16/24
30 Year FHA Purchase 7.19% 6/16/24
30 Year FHA Refi 7.00% 6/16/24
30 Year VA Purchase 6.31% 6/16/24
30 Year VA Refi 5.72% 6/16/24
30 Year USDA Purchase 6.60% 6/16/24
15 Year Conventional Purchase 6.16% 6/16/24
15 Year Conventional Refi 6.12% 6/16/24
15 Year Cash-out Refi 6.12% 6/16/24
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 Capital Mortgage Corporation Mortgage Calculator






Your Estimates

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

This is not an official calculator from Bay Capital Mortgage Corporation. 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

781

Origination Dollar Volume (All Markets)

$283,645,000
Show all (9) awards

Relative Rate

Bay Capital Mortgage Corporation's average 30 year fixed mortgage rate was 6.49%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

Bay Capital Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $9,789.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 331 $131,905,000 $398,505 $10,258 6.59%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 155 $61,525,000 $396,935 $10,022 6.59%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 67 $25,345,000 $378,284 $11,827 6.25%
TALLAHASSEE, FL (FHA|USDA|VA) 57 $14,265,000 $250,263 $8,043 5.56%
GETTYSBURG, PA (FHA|USDA|VA) 28 $9,680,000 $345,714 $10,079 6.27%
Easton, MD (FHA|USDA|VA) 27 $9,125,000 $337,963 $7,120 6.63%
Outside of Metro Areas 23 $6,125,000 $266,304 $7,875 6.53%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 23 $6,015,000 $261,522 $6,829 7.03%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 12 $3,210,000 $267,500 $9,274 6.85%
YORK-HANOVER, PA (FHA|USDA|VA) 8 $2,390,000 $298,750 $8,145 6.45%
SALISBURY, MD-DE (FHA|USDA|VA) 7 $2,195,000 $313,571 $7,052 6.96%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,515,000 $303,000 $7,050 7.18%
Cambridge, MD (FHA|USDA|VA) 6 $1,400,000 $233,333 $8,434 6.44%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 5 $1,085,000 $217,000 $8,824 6.73%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $860,000 $430,000 $29,173 6.56%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $650,000 $325,000 $7,749 6.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $620,000 $310,000 $5,521 7.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $620,000 $310,000 $9,637 6.31%
PITTSBURGH, PA (FHA|USDA|VA) 2 $600,000 $300,000 $6,901 6.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $565,000 $565,000 $17,197 6.25%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $530,000 $265,000 $7,481 5.75%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $475,000 $475,000 $5,069 5.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $435,000 $435,000 $19,453 6.38%
DOVER, DE (FHA|USDA|VA) 1 $385,000 $385,000 $10,109 7.50%
Thomasville, GA (FHA|USDA|VA) 1 $315,000 $315,000 $8,886 6.63%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $315,000 $315,000 $7,313 6.50%
VALDOSTA, GA (FHA|USDA|VA) 1 $285,000 $285,000 $10,902 5.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $175,000 $175,000 $7,153 6.50%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,962 6.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,680 6.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,749 7.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,956 5.88%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $75,000 $75,000 $6,509 6.75%
Bay Capital Mortgage Corporation's top markets include Baltimore, Washington, California, Tallahassee, and Gettysburg among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Similar Lenders

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

    DEL-ONE FEDERAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 502 $173,830,000 $346,275 $7,542 6.59%
    FHA 138 $47,510,000 $344,275 $13,464 6.42%
    VA 115 $55,115,000 $479,261 $14,431 6.21%
    USDA 25 $7,005,000 $280,200 $9,333 6.25%
    FHA 1 $185,000 $185,000 $0 7.88%

    For 2023, Bay Capital Mortgage Corporation's most frequently originated type of loan was Conventional, with 502 originations. Their 2nd most popular type was FHA, with 138 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 748 $274,270,000 $366,671 $9,853 6.48%
    Cash Out Refi 20 $4,880,000 $244,000 $7,537 7.05%
    Refi 13 $4,495,000 $345,769 $7,053 6.27%

    For 2023, Bay Capital Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 748 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 775 $281,885,000 $363,723 $9,789 6.49%
    15 Year 4 $1,430,000 $357,500 $6,035 6.84%
    Other 2 $330,000 $165,000 $0 8.69%

    For 2023, Bay Capital Mortgage Corporation's most frequently cited loan duration was 30 Year, with 775 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 278 $123,360,000 $443,741
    $1k-2k 192 $65,240,000 $339,792
    $4k-5k 109 $36,605,000 $335,826
    $3k-4k 96 $27,470,000 $286,146
    $2k-3k 78 $23,450,000 $300,641
    $<1k 26 $7,170,000 $275,769

    Bay Capital Mortgage Corporation's average total fees were $9,789, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 278 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 431 $157,965,000 $366,508
    5-6% 174 $65,180,000 $374,598
    7-8% 152 $55,590,000 $365,724
    <2.5% 8 $130,000 $16,250
    Over 8% 8 $2,190,000 $273,750
    4-5% 1 $335,000 $335,000

    During 2023, Bay Capital Mortgage Corporation's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 403 $122,135,000 $303,065 $8,893 6.55%
    $400k-600k 209 $99,945,000 $478,206 $12,233 6.56%
    $100k-200k 90 $14,510,000 $161,222 $5,090 6.61%
    $600k-1MM 58 $38,910,000 $670,862 $13,409 6.54%
    $100,000 or less 15 $625,000 $41,667 $2,113 3.09%
    $1MM+ 6 $7,520,000 $1,253,333 $18,271 6.75%

    2023 saw Bay Capital Mortgage Corporation place emphasis on $200k-400k loans with 403 originations, totaling $122,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 223 $83,095,000 $372,623 $10,584 6.48%
    $150k-250k 201 $90,395,000 $449,726 $10,785 6.65%
    $75k-100k 146 $43,360,000 $296,986 $9,108 6.35%
    $50k-75k 127 $28,845,000 $227,126 $7,157 6.34%
    $250k+ 63 $34,615,000 $549,444 $11,514 6.83%
    $50k or less 21 $3,335,000 $158,810 $7,102 6.06%

    Bay Capital Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 223 originations. The second most popular income band? $150k-250k, with 201 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 145 $55,155,000 $380,379 $9,617 6.52%
    20-30% 103 $35,585,000 $345,485 $8,138 6.57%
    42% 46 $16,710,000 $363,261 $9,668 6.26%
    41% 42 $14,890,000 $354,524 $9,760 6.55%
    44% 41 $13,665,000 $333,293 $9,189 6.44%
    39% 40 $14,080,000 $352,000 $10,352 6.64%
    50-60% 38 $15,620,000 $411,053 $14,538 6.26%
    40% 37 $13,225,000 $357,432 $10,408 6.53%
    49% 35 $12,245,000 $349,857 $10,149 6.43%
    <20% 34 $10,680,000 $314,118 $6,627 6.65%
    43% 34 $11,910,000 $350,294 $8,630 6.35%
    47% 29 $11,495,000 $396,379 $11,332 6.44%
    38% 28 $10,330,000 $368,929 $9,787 6.60%
    36% 26 $9,490,000 $365,000 $8,756 6.59%
    45% 26 $10,220,000 $393,077 $12,034 6.72%
    46% 26 $8,670,000 $333,462 $9,196 6.24%
    37% 26 $11,080,000 $426,154 $9,716 6.44%
    48% 23 $7,555,000 $328,478 $10,985 6.51%
    >60% 2 $1,040,000 $520,000 $15,458 7.31%

    Bay Capital Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 145 originations. The next most common DTI ratio? 20-30%, with 103 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 590 $214,930,000 $364,288 $9,332 6.51%
    Black 110 $39,990,000 $363,545 $10,884 6.48%
    Not provided 46 $14,730,000 $320,217 $12,431 6.24%
    Asian 29 $11,925,000 $411,207 $10,706 6.67%
    Native Hawaiian or Islander 2 $920,000 $460,000 $14,803 6.50%
    American Indian 3 $875,000 $291,667 $7,434 7.21%
    Asian Indian 1 $275,000 $275,000 $7,187 6.63%

    Approval Rates

    Total approvals of all applications
    94.85%

    Bay Capital Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.77%

    Bay Capital Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 781 $283,645,000 $363,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    781 $283,645,000 $363,182

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,200,000 $157,143 $4,216 6.68%
    40-60% 59 $16,475,000 $279,237 $6,046 6.61%
    60-80% 172 $59,430,000 $345,523 $7,941 6.71%
    80-100% 486 $186,070,000 $382,860 $10,371 6.53%
    Over 100% 39 $18,905,000 $484,744 $18,076 6.21%
    Under 20% 11 $565,000 $51,364 $1,841 1.79%