Bay Equity Mortgage Rates, Fees & Info
Los Angeles, CALEI: 549300PL8ER6H23P0Z91
Tax ID: 26-0360466
2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Bay Equity is a large mortgage company specializing in Home Purchase and Refi loans. Bay Equity 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 San Diego, Phoenix, Minneapolis, Seattle, and Grand Junction among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Bay Equity is typically an average fee lendor.Originations
31,172Origination Dollar Volume (All Markets)
$9,499,400,000Relative Rate
Bay Equity 's average 30 year fixed rate mortgage was
3.29%.
The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.
This yields a difference of -0.07%.
Relative Fees
Bay Equity 's average total fees for a 30 year fixed rate
mortgage are $5,630.
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 $5,021.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 24,475 | $7,561,545,000 | $308,950 | $4,455 | 3.23% |
| FHA | 4,245 | $1,094,475,000 | $257,827 | $9,750 | 3.37% |
| VA | 2,012 | $747,780,000 | $371,660 | $7,555 | 3.07% |
| USDA | 440 | $95,600,000 | $217,273 | $6,887 | 3.29% |
For the 2020 period, Bay Equity 's most frequently originated loan type was Conventional, with 24,475 originations. Their 2nd most popular type is FHA, with 4,245 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 13,450 | $3,966,360,000 | $294,897 | $6,613 | 3.35% |
| Refi | 12,565 | $3,969,365,000 | $315,906 | $4,170 | 3.10% |
| Cash Out Refi | 5,157 | $1,563,675,000 | $303,214 | $5,239 | 3.31% |
For the 2020, Bay Equity 's most frequently cited loan purpose was Home Purchase, with 13,450 originations. The 2nd most popular reason was Refi, with 12,565 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 26,680 | $8,413,430,000 | $315,346 | $5,630 | 3.29% |
| 15 Year | 2,782 | $684,380,000 | $246,003 | $3,760 | 2.79% |
| 20 Year | 985 | $262,015,000 | $266,005 | $3,823 | 3.16% |
| Other | 394 | $110,280,000 | $279,898 | $4,016 | 3.12% |
| 10 Year | 331 | $29,295,000 | $88,505 | $3,333 | 3.68% |
For the 2020, Bay Equity 's most frequently cited loan length was 30 Year, with 26,680 originations. The 2nd most popular length was 15 Year, with 2,782 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 13,815 | $4,235,465,000 | $306,585 |
| $3k-4k | 5,869 | $1,747,645,000 | $297,776 |
| $2k-3k | 5,169 | $1,393,225,000 | $269,535 |
| $5k+ | 3,082 | $1,319,020,000 | $427,975 |
| $<1k | 1,722 | $438,040,000 | $254,379 |
$5,630 was Bay Equity 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 13,815 originations.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 5,005 | $1,402,205,000 | $280,161 | $4,776 | 3.24% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA | 1,760 | $835,780,000 | $474,875 | $5,989 | 3.14% |
| PHOENIX-MESA-CHANDLER, AZ | 2,331 | $660,295,000 | $283,267 | $5,341 | 3.34% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI | 2,504 | $648,730,000 | $259,077 | $4,677 | 3.19% |
| SEATTLE-BELLEVUE-KENT, WA | 1,279 | $554,035,000 | $433,178 | $7,038 | 3.19% |
| GRAND JUNCTION, CO | 2,027 | $512,675,000 | $252,923 | $3,965 | 3.23% |
| TACOMA-LAKEWOOD, WA | 1,182 | $406,380,000 | $343,807 | $6,782 | 3.27% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | 1,275 | $359,155,000 | $281,690 | $6,221 | 3.32% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN | 1,408 | $286,750,000 | $203,658 | $3,479 | 3.39% |
| DENVER-AURORA-LAKEWOOD, CO | 782 | $286,070,000 | $365,818 | $3,902 | 3.16% |
| OAKLAND-BERKELEY-LIVERMORE, CA | 509 | $277,405,000 | $545,000 | $5,402 | 3.20% |
| COLORADO SPRINGS, CO | 750 | $222,630,000 | $296,840 | $5,054 | 3.13% |
| LOS ANGELES-LONG BEACH-GLENDALE, CA | 472 | $213,650,000 | $452,648 | $6,659 | 3.20% |
| FRESNO, CA | 622 | $200,560,000 | $322,444 | $5,991 | 3.28% |
| CHICAGO-NAPERVILLE-EVANSTON, IL | 754 | $172,780,000 | $229,151 | $5,621 | 3.12% |
| ST. GEORGE, UT | 440 | $123,380,000 | $280,409 | $6,634 | 3.32% |
| RENO, NV | 301 | $99,585,000 | $330,847 | $7,209 | 3.11% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA | 233 | $80,545,000 | $345,687 | $6,693 | 3.12% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA | 133 | $74,965,000 | $563,647 | $4,412 | 3.18% |
| SANTA CRUZ-WATSONVILLE, CA | 141 | $72,605,000 | $514,929 | $5,239 | 3.04% |
| LAKE COUNTY-KENOSHA COUNTY, IL-WI | 317 | $65,665,000 | $207,145 | $4,403 | 3.20% |
| OLYMPIA-LACEY-TUMWATER, WA | 206 | $63,740,000 | $309,417 | $7,799 | 3.21% |
| ALBUQUERQUE, NM | 272 | $62,020,000 | $228,015 | $4,497 | 3.34% |
| CAMBRIDGE-NEWTON-FRAMINGHAM, MA | 187 | $60,745,000 | $324,840 | $4,645 | 3.14% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | 235 | $58,865,000 | $250,489 | $6,566 | 3.35% |
| BOSTON, MA | 145 | $57,825,000 | $398,793 | $8,231 | 3.24% |
| ASHEVILLE, NC | 188 | $56,830,000 | $302,287 | $4,184 | 3.29% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT | 232 | $56,260,000 | $242,500 | $5,612 | 3.19% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | 133 | $55,645,000 | $418,383 | $5,556 | 3.10% |
| WORCESTER, MA-CT | 176 | $49,550,000 | $281,534 | $4,313 | 3.26% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA | 145 | $47,985,000 | $330,931 | $8,203 | 3.03% |
| STOCKTON, CA | 143 | $42,325,000 | $295,979 | $7,454 | 3.27% |
| MOUNT VERNON-ANACORTES, WA | 138 | $42,150,000 | $305,435 | $6,240 | 3.41% |
| ANAHEIM-SANTA ANA-IRVINE, CA | 80 | $41,230,000 | $515,375 | $5,239 | 3.08% |
| LEXINGTON-FAYETTE, KY | 235 | $40,445,000 | $172,106 | $3,836 | 3.59% |
| COLUMBIA, SC | 213 | $38,575,000 | $181,103 | $5,629 | 3.51% |
| WENATCHEE, WA | 130 | $37,840,000 | $291,077 | $8,025 | 3.13% |
| MONTGOMERY, AL | 178 | $36,570,000 | $205,449 | $4,908 | 3.21% |
| SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA | 54 | $35,580,000 | $658,889 | $4,933 | 2.93% |
| URBAN HONOLULU, HI | 59 | $35,095,000 | $594,831 | $7,760 | 3.15% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA | 93 | $33,065,000 | $355,538 | $6,409 | 3.29% |
| TUCSON, AZ | 132 | $30,430,000 | $230,530 | $5,337 | 3.45% |
| DALLAS-PLANO-IRVING, TX | 94 | $27,270,000 | $290,106 | $5,168 | 3.14% |
| BOISE CITY, ID | 82 | $26,930,000 | $328,415 | $5,130 | 3.16% |
| OKLAHOMA CITY, OK | 112 | $25,210,000 | $225,089 | $5,111 | 3.24% |
| KANSAS CITY, MO-KS | 98 | $24,970,000 | $254,796 | $4,663 | 3.22% |
| BRUNSWICK, GA | 102 | $24,310,000 | $238,333 | $6,595 | 3.09% |
| PRESCOTT VALLEY-PRESCOTT, AZ | 83 | $23,465,000 | $282,711 | $6,911 | 3.26% |
| OXNARD-THOUSAND OAKS-VENTURA, CA | 48 | $22,450,000 | $467,708 | $5,270 | 3.13% |
| WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL | 85 | $22,335,000 | $262,765 | $9,743 | 3.46% |
| PORT ST. LUCIE, FL | 81 | $21,565,000 | $266,235 | $8,071 | 3.34% |
| LAS VEGAS-HENDERSON-PARADISE, NV | 86 | $21,380,000 | $248,605 | $5,332 | 3.28% |
| ELGIN, IL | 87 | $20,885,000 | $240,057 | $4,521 | 3.15% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC | 73 | $20,415,000 | $279,658 | $6,073 | 3.26% |
| LEWISTON, ID-WA | 96 | $20,130,000 | $209,688 | $6,026 | 3.20% |
| JACKSONVILLE, FL | 83 | $18,825,000 | $226,807 | $6,516 | 3.53% |
| CAPE CORAL-FORT MYERS, FL | 79 | $18,675,000 | $236,392 | $5,146 | 3.18% |
| PROVIDENCE-WARWICK, RI-MA | 59 | $18,565,000 | $314,661 | $8,104 | 3.39% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL | 87 | $17,715,000 | $203,621 | $6,507 | 3.56% |
| KNOXVILLE, TN | 91 | $17,055,000 | $187,418 | $5,732 | 3.37% |
| ORLANDO-KISSIMMEE-SANFORD, FL | 64 | $15,390,000 | $240,469 | $7,977 | 3.86% |
| MADERA, CA | 53 | $15,115,000 | $285,189 | $6,642 | 3.33% |
| SAN RAFAEL, CA | 20 | $14,740,000 | $737,000 | $4,213 | 2.91% |
| MODESTO, CA | 49 | $14,695,000 | $299,898 | $5,792 | 3.25% |
| ROCHESTER, MN | 65 | $14,325,000 | $220,385 | $4,729 | 3.16% |
| BELLINGHAM, WA | 41 | $13,325,000 | $325,000 | $6,306 | 3.23% |
| SANTA ROSA-PETALUMA, CA | 26 | $13,130,000 | $505,000 | $6,570 | 3.32% |
| COEUR D'ALENE, ID | 38 | $12,730,000 | $335,000 | $7,224 | 3.11% |
| GREELEY, CO | 41 | $12,585,000 | $306,951 | $4,562 | 3.34% |
| CHARLESTON-NORTH CHARLESTON, SC | 47 | $12,475,000 | $265,426 | $5,710 | 3.26% |
| BOULDER, CO | 36 | $12,300,000 | $341,667 | $3,252 | 3.15% |
| KENNEWICK-RICHLAND, WA | 45 | $12,205,000 | $271,222 | $5,527 | 3.29% |
| PROVO-OREM, UT | 37 | $12,065,000 | $326,081 | $5,754 | 3.22% |
| VALLEJO, CA | 31 | $12,055,000 | $388,871 | $6,688 | 3.33% |
| ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH | 40 | $11,520,000 | $288,000 | $3,904 | 2.98% |
| BRIDGEPORT-STAMFORD-NORWALK, CT | 24 | $10,340,000 | $430,833 | $9,305 | 3.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA | 21 | $10,325,000 | $491,667 | $5,388 | 3.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | 44 | $10,200,000 | $231,818 | $7,041 | 3.37% |
| FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL | 37 | $10,145,000 | $274,189 | $7,020 | 3.49% |
| FORT COLLINS, CO | 32 | $9,950,000 | $310,938 | $3,913 | 3.21% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL | 47 | $9,855,000 | $209,681 | $6,266 | 3.53% |
| NEW HAVEN-MILFORD, CT | 49 | $9,815,000 | $200,306 | $6,023 | 3.09% |
| ST. CLOUD, MN | 45 | $9,185,000 | $204,111 | $4,590 | 3.25% |
| GAINESVILLE, GA | 27 | $9,125,000 | $337,963 | $6,450 | 3.22% |
| OGDEN-CLEARFIELD, UT | 34 | $9,070,000 | $266,765 | $8,703 | 3.33% |
| FLAGSTAFF, AZ | 29 | $9,005,000 | $310,517 | $4,770 | 3.27% |
| SALT LAKE CITY, UT | 27 | $8,875,000 | $328,704 | $7,792 | 3.17% |
| SANTA MARIA-SANTA BARBARA, CA | 23 | $8,685,000 | $377,609 | $5,407 | 3.11% |
| SPOKANE-SPOKANE VALLEY, WA | 35 | $8,675,000 | $247,857 | $5,025 | 3.20% |
| BAKERSFIELD, CA | 32 | $8,520,000 | $266,250 | $5,798 | 3.06% |
| MANCHESTER-NASHUA, NH | 30 | $8,300,000 | $276,667 | $4,614 | 3.23% |
| DULUTH, MN-WI | 38 | $8,120,000 | $213,684 | $5,240 | 3.18% |
| BEND, OR | 15 | $7,615,000 | $507,667 | $7,990 | 3.17% |
| SALINAS, CA | 12 | $7,580,000 | $631,667 | $6,130 | 3.27% |
| PUNTA GORDA, FL | 32 | $6,780,000 | $211,875 | $4,918 | 3.19% |
| PUEBLO, CO | 30 | $6,750,000 | $225,000 | $4,605 | 3.27% |
| SPRINGFIELD, MA | 27 | $6,385,000 | $236,481 | $4,944 | 3.34% |
| SAN ANTONIO-NEW BRAUNFELS, TX | 23 | $6,005,000 | $261,087 | $6,388 | 3.14% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX | 19 | $5,875,000 | $309,211 | $5,540 | 3.10% |
| NORWICH-NEW LONDON, CT | 21 | $5,875,000 | $279,762 | $7,110 | 3.42% |
| NAPA, CA | 10 | $5,680,000 | $568,000 | $7,606 | 3.01% |
| AUGUSTA-RICHMOND COUNTY, GA-SC | 29 | $5,625,000 | $193,966 | $5,350 | 3.44% |
| PITTSFIELD, MA | 24 | $5,360,000 | $223,333 | $5,150 | 3.36% |
| ELIZABETHTOWN-FORT KNOX, KY | 34 | $5,120,000 | $150,588 | $4,045 | 3.64% |
| BARNSTABLE TOWN, MA | 14 | $4,920,000 | $351,429 | $5,935 | 3.42% |
| NORTH PORT-SARASOTA-BRADENTON, FL | 15 | $4,235,000 | $282,333 | $5,009 | 3.23% |
| MISSOULA, MT | 17 | $4,205,000 | $247,353 | $3,760 | 3.00% |
| NAPLES-MARCO ISLAND, FL | 12 | $4,180,000 | $348,333 | $8,299 | 3.04% |
| LAKELAND-WINTER HAVEN, FL | 20 | $3,980,000 | $199,000 | $7,977 | 3.98% |
| SALEM, OR | 13 | $3,885,000 | $298,846 | $7,525 | 3.33% |
| WALLA WALLA, WA | 13 | $3,845,000 | $295,769 | $4,980 | 3.23% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL | 7 | $3,635,000 | $519,286 | $7,553 | 3.23% |
| SANTA FE, NM | 12 | $3,520,000 | $293,333 | $5,129 | 3.40% |
| VISALIA, CA | 11 | $3,385,000 | $307,727 | $8,644 | 3.43% |
| CORVALLIS, OR | 13 | $3,385,000 | $260,385 | $7,463 | 3.43% |
| YAKIMA, WA | 13 | $3,335,000 | $256,538 | $7,546 | 3.53% |
| MIAMI-MIAMI BEACH-KENDALL, FL | 12 | $3,230,000 | $269,167 | $9,161 | 3.26% |
| MERCED, CA | 9 | $3,005,000 | $333,889 | $7,080 | 3.18% |
| LAKE HAVASU CITY-KINGMAN, AZ | 13 | $2,995,000 | $230,385 | $5,212 | 3.43% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN | 6 | $2,950,000 | $491,667 | $6,447 | 3.23% |
| CARSON CITY, NV | 10 | $2,930,000 | $293,000 | $6,811 | 3.17% |
| PORTLAND-SOUTH PORTLAND, ME | 10 | $2,900,000 | $290,000 | $3,662 | 3.01% |
| SAVANNAH, GA | 10 | $2,790,000 | $279,000 | $6,340 | 3.02% |
| FORT WORTH-ARLINGTON-GRAPEVINE, TX | 11 | $2,625,000 | $238,636 | $4,201 | 3.07% |
| MORRISTOWN, TN | 15 | $2,605,000 | $173,667 | $6,495 | 3.35% |
| CHEYENNE, WY | 9 | $2,605,000 | $289,444 | $5,231 | 2.86% |
| HINESVILLE, GA | 13 | $2,605,000 | $200,385 | $4,980 | 3.91% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN | 8 | $2,390,000 | $298,750 | $3,036 | 3.00% |
| ATHENS-CLARKE COUNTY, GA | 7 | $2,285,000 | $326,429 | $5,342 | 3.00% |
| BIRMINGHAM-HOOVER, AL | 9 | $2,205,000 | $245,000 | $5,117 | 3.43% |
| MANKATO, MN | 9 | $1,785,000 | $198,333 | $5,146 | 3.43% |
| SUMTER, SC | 10 | $1,770,000 | $177,000 | $5,319 | 3.14% |
| CASPER, WY | 5 | $1,505,000 | $301,000 | $8,419 | 3.25% |
| GREENVILLE-ANDERSON, SC | 5 | $1,485,000 | $297,000 | $5,933 | 2.95% |
| BOWLING GREEN, KY | 8 | $1,480,000 | $185,000 | $4,785 | 3.34% |
| AUBURN-OPELIKA, AL | 6 | $1,470,000 | $245,000 | $5,420 | 3.39% |
| CHATTANOOGA, TN-GA | 9 | $1,445,000 | $160,556 | $4,530 | 3.19% |
| WARNER ROBINS, GA | 7 | $1,355,000 | $193,571 | $7,539 | 3.68% |
| MILWAUKEE-WAUKESHA, WI | 7 | $1,355,000 | $193,571 | $5,113 | 3.34% |
| SPARTANBURG, SC | 7 | $1,325,000 | $189,286 | $6,481 | 4.07% |
| PANAMA CITY, FL | 4 | $1,260,000 | $315,000 | $7,565 | 3.93% |
| LONGVIEW, WA | 6 | $1,250,000 | $208,333 | $3,676 | 3.60% |
| SIERRA VISTA-DOUGLAS, AZ | 9 | $1,205,000 | $133,889 | $4,923 | 3.68% |
| YUMA, AZ | 6 | $1,180,000 | $196,667 | $3,224 | 3.31% |
| REDDING, CA | 4 | $1,140,000 | $285,000 | $4,520 | 2.94% |
| SEBASTIAN-VERO BEACH, FL | 6 | $1,100,000 | $183,333 | $3,690 | 3.56% |
| MEMPHIS, TN-MS-AR | 4 | $1,080,000 | $270,000 | $10,513 | 3.56% |
| GARY, IN | 5 | $1,075,000 | $215,000 | $3,136 | 3.03% |
| RALEIGH-CARY, NC | 4 | $1,050,000 | $262,500 | $4,819 | 3.56% |
| THE VILLAGES, FL | 5 | $1,005,000 | $201,000 | $4,618 | 2.95% |
| LOGAN, UT-ID | 4 | $990,000 | $247,500 | $3,609 | 3.12% |
| HILTON HEAD ISLAND-BLUFFTON, SC | 4 | $950,000 | $237,500 | $5,580 | 3.65% |
| HANFORD-CORCORAN, CA | 3 | $925,000 | $308,333 | $4,135 | 3.54% |
| RACINE, WI | 5 | $865,000 | $173,000 | $2,612 | 3.00% |
| EL CENTRO, CA | 4 | $850,000 | $212,500 | $4,263 | 3.38% |
| ALBANY-LEBANON, OR | 3 | $845,000 | $281,667 | $9,550 | 3.16% |
| IDAHO FALLS, ID | 3 | $805,000 | $268,333 | $5,603 | 3.25% |
| GAINESVILLE, FL | 3 | $765,000 | $255,000 | $4,445 | 3.25% |
| ROME, GA | 4 | $760,000 | $190,000 | $5,177 | 3.34% |
| HICKORY-LENOIR-MORGANTON, NC | 3 | $755,000 | $251,667 | $6,886 | 3.42% |
| ODESSA, TX | 4 | $720,000 | $180,000 | $5,240 | 3.25% |
| BILLINGS, MT | 3 | $705,000 | $235,000 | $5,415 | 3.33% |
| MADISON, WI | 2 | $700,000 | $350,000 | $2,275 | 3.25% |
| WINSTON-SALEM, NC | 2 | $700,000 | $350,000 | $5,858 | 3.25% |
| FARGO, ND-MN | 5 | $665,000 | $133,000 | $4,354 | 3.48% |
| CINCINNATI, OH-KY-IN | 6 | $660,000 | $110,000 | $4,784 | 2.85% |
| EUGENE-SPRINGFIELD, OR | 2 | $650,000 | $325,000 | $9,157 | 3.38% |
| KILLEEN-TEMPLE, TX | 2 | $640,000 | $320,000 | $8,455 | 2.63% |
| MEDFORD, OR | 2 | $640,000 | $320,000 | $5,007 | 3.62% |
| GREEN BAY, WI | 3 | $635,000 | $211,667 | $4,082 | 3.29% |
| DURHAM-CHAPEL HILL, NC | 3 | $635,000 | $211,667 | $3,892 | 3.88% |
| GREAT FALLS, MT | 3 | $605,000 | $201,667 | $2,359 | 2.96% |
| TOPEKA, KS | 4 | $550,000 | $137,500 | $4,628 | 3.34% |
| PENSACOLA-FERRY PASS-BRENT, FL | 2 | $520,000 | $260,000 | $3,293 | 3.50% |
| CHARLOTTESVILLE, VA | 1 | $515,000 | $515,000 | $8,102 | 2.63% |
| TULSA, OK | 2 | $510,000 | $255,000 | $7,591 | 3.25% |
| TALLAHASSEE, FL | 2 | $490,000 | $245,000 | $3,898 | 2.99% |
| ABILENE, TX | 1 | $485,000 | $485,000 | $3,492 | 2.99% |
| FARMINGTON, NM | 2 | $470,000 | $235,000 | $7,153 | 3.38% |
| LAWRENCE, KS | 2 | $460,000 | $230,000 | $3,917 | 3.31% |
| KINGSPORT-BRISTOL, TN-VA | 3 | $455,000 | $151,667 | $6,262 | 3.04% |
| DAPHNE-FAIRHOPE-FOLEY, AL | 3 | $445,000 | $148,333 | $3,531 | 3.58% |
| GREENSBORO-HIGH POINT, NC | 4 | $430,000 | $107,500 | $3,609 | 2.88% |
| BISMARCK, ND | 1 | $425,000 | $425,000 | $2,771 | 2.99% |
| ST. LOUIS, MO-IL | 2 | $410,000 | $205,000 | $3,386 | 3.62% |
| JACKSONVILLE, NC | 2 | $400,000 | $200,000 | $7,421 | 3.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC | 2 | $400,000 | $200,000 | $8,920 | 3.81% |
| MACON-BIBB COUNTY, GA | 2 | $390,000 | $195,000 | $3,192 | 2.75% |
| POCATELLO, ID | 3 | $385,000 | $128,333 | $3,445 | 3.21% |
| RAPID CITY, SD | 1 | $385,000 | $385,000 | $6,355 | 2.38% |
| WACO, TX | 3 | $375,000 | $125,000 | $4,510 | 3.67% |
| CHICO, CA | 1 | $375,000 | $375,000 | $6,439 | 2.63% |
| COLUMBIA, MO | 1 | $375,000 | $375,000 | $2,250 | 3.50% |
| CLEVELAND, TN | 1 | $355,000 | $355,000 | $5,989 | 3.50% |
| NILES, MI | 1 | $335,000 | $335,000 | $5,882 | 2.99% |
| SPRINGFIELD, MO | 1 | $335,000 | $335,000 | $2,463 | 2.38% |
| LONGVIEW, TX | 1 | $315,000 | $315,000 | $3,618 | 2.63% |
| CARBONDALE-MARION, IL | 2 | $310,000 | $155,000 | $2,979 | 3.18% |
| OSHKOSH-NEENAH, WI | 1 | $305,000 | $305,000 | $3,373 | 3.38% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC | 1 | $295,000 | $295,000 | $15,639 | 2.75% |
| BLOOMINGTON, IN | 2 | $290,000 | $145,000 | $2,352 | 3.88% |
| WILMINGTON, NC | 1 | $255,000 | $255,000 | $4,296 | 3.25% |
| EAU CLAIRE, WI | 1 | $255,000 | $255,000 | $2,780 | 2.99% |
| CLARKSVILLE, TN-KY | 1 | $245,000 | $245,000 | $4,756 | 3.38% |
| COLUMBUS, GA-AL | 1 | $245,000 | $245,000 | $5,410 | 2.25% |
| WARREN-TROY-FARMINGTON HILLS, MI | 1 | $235,000 | $235,000 | $2,833 | 2.99% |
| HUNTSVILLE, AL | 1 | $235,000 | $235,000 | $1,756 | 2.63% |
| JANESVILLE-BELOIT, WI | 2 | $230,000 | $115,000 | $3,181 | 2.88% |
| VICTORIA, TX | 2 | $210,000 | $105,000 | $0 | 3.63% |
| FORT WAYNE, IN | 1 | $205,000 | $205,000 | $2,236 | 3.25% |
| SHERMAN-DENISON, TX | 2 | $190,000 | $95,000 | $3,007 | 3.31% |
| GRAND FORKS, ND-MN | 1 | $185,000 | $185,000 | $6,311 | 4.50% |
| CORPUS CHRISTI, TX | 1 | $185,000 | $185,000 | $4,455 | 2.88% |
| GRANTS PASS, OR | 1 | $175,000 | $175,000 | $6,146 | 2.25% |
| EL PASO, TX | 1 | $155,000 | $155,000 | $3,066 | 2.50% |
| LAS CRUCES, NM | 1 | $155,000 | $155,000 | $2,607 | 2.99% |
| TUSCALOOSA, AL | 1 | $145,000 | $145,000 | $2,725 | 3.63% |
| KANKAKEE, IL | 1 | $145,000 | $145,000 | $3,372 | 3.38% |
| JACKSON, TN | 1 | $135,000 | $135,000 | $2,952 | 2.75% |
| JOHNSON CITY, TN | 1 | $135,000 | $135,000 | $7,207 | 2.99% |
| MIDLAND, TX | 1 | $135,000 | $135,000 | $0 | 4.88% |
| BLOOMINGTON, IL | 1 | $125,000 | $125,000 | $3,015 | 2.99% |
| OWENSBORO, KY | 1 | $95,000 | $95,000 | $5,328 | 3.13% |
| DECATUR, AL | 1 | $95,000 | $95,000 | $2,878 | 2.63% |
| ROCKFORD, IL | 1 | $75,000 | $75,000 | $2,201 | 2.88% |
| HARRISONBURG, VA | 1 | $55,000 | $55,000 | $0 | 3.99% |
Bay Equity 's top markets include San Diego, Phoenix, Minneapolis, Seattle, and Grand Junction among others.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 16,349 | $4,945,265,000 | $302,481 |
| 2.5-3% | 11,623 | $3,731,965,000 | $321,084 |
| <2.5% | 1,583 | $450,455,000 | $284,558 |
| 4-5% | 1,349 | $344,005,000 | $255,007 |
| 5-6% | 248 | $25,760,000 | $103,871 |
| 6-7% | 12 | $890,000 | $74,167 |
| 7-8% | 8 | $1,060,000 | $132,500 |
During 2020, Bay Equity 's average interest rate was 3.29%, while their most frequently originated rate bucket was 3-4%, with 16,349 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 16,818 | $4,797,850,000 | $285,281 | $5,366 | 3.22% |
| $100k-200k | 6,859 | $1,094,465,000 | $159,566 | $4,256 | 3.28% |
| $400k-600k | 5,182 | $2,469,870,000 | $476,625 | $6,035 | 3.18% |
| $600k-1MM | 1,239 | $883,385,000 | $712,982 | $8,348 | 3.21% |
| $100,000 or less | 913 | $51,885,000 | $56,829 | $3,271 | 3.71% |
| $1MM+ | 161 | $201,945,000 | $1,254,317 | $10,628 | 3.16% |
2020 saw Bay Equity place emphasis on $200k-400k loans with 16,818 originations, totaling $4,797,850,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 7,271 | $1,694,665,000 | $233,072 | $5,389 | 3.29% |
| $100k-150k | 6,976 | $2,373,330,000 | $340,214 | $5,483 | 3.23% |
| $75k-100k | 5,929 | $1,695,175,000 | $285,912 | $5,564 | 3.26% |
| $150k-250k | 4,560 | $1,868,460,000 | $409,750 | $5,267 | 3.21% |
| $50k or less | 4,517 | $926,425,000 | $205,097 | $4,923 | 3.24% |
| $250k+ | 1,623 | $832,645,000 | $513,028 | $5,747 | 3.20% |
Bay Equity lent most frequently to those with incomes in the $50k-75k range, with 7,271 originations. The second most popular income band? $100k-150k, with 6,976 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 6,431 | $1,943,535,000 | $302,213 | $4,536 | 3.17% |
| 30-36% | 5,551 | $1,685,315,000 | $303,606 | $4,899 | 3.25% |
| <20% | 2,099 | $609,375,000 | $290,317 | $3,974 | 3.08% |
| 44% | 1,399 | $413,365,000 | $295,472 | $5,924 | 3.36% |
| 50-60% | 1,330 | $389,670,000 | $292,985 | $10,219 | 3.29% |
| 43% | 1,223 | $364,815,000 | $298,295 | $5,554 | 3.35% |
| 42% | 1,222 | $374,620,000 | $306,563 | $5,660 | 3.33% |
| 39% | 1,143 | $356,365,000 | $311,780 | $5,551 | 3.32% |
| 41% | 1,141 | $340,635,000 | $298,541 | $5,483 | 3.33% |
| 38% | 1,107 | $338,855,000 | $306,102 | $5,533 | 3.31% |
| 40% | 1,078 | $332,570,000 | $308,506 | $5,534 | 3.31% |
| 49% | 1,047 | $327,325,000 | $312,631 | $6,066 | 3.30% |
| 36% | 1,039 | $318,115,000 | $306,174 | $5,062 | 3.29% |
| 37% | 1,025 | $318,355,000 | $310,590 | $5,369 | 3.28% |
| 45% | 910 | $273,520,000 | $300,571 | $6,058 | 3.29% |
| 46% | 784 | $230,850,000 | $294,452 | $5,905 | 3.29% |
| 47% | 770 | $233,310,000 | $303,000 | $6,454 | 3.32% |
| 48% | 753 | $226,615,000 | $300,950 | $5,836 | 3.30% |
| >60% | 200 | $82,050,000 | $410,250 | $6,975 | 3.00% |
Bay Equity lent most frequently to those with DTI ratios of 20-30%, with 6,431 originations. The next most common DTI ratio? 30-36%, with 5,551 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23,599 | $7,050,445,000 | $298,760 | $5,218 | 3.25% |
| Not provided | 4,946 | $1,643,920,000 | $332,374 | $5,494 | 3.21% |
| Asian | 1,088 | $386,670,000 | $355,395 | $5,776 | 3.12% |
| Black | 1,243 | $325,685,000 | $262,015 | $7,254 | 3.39% |
| American Indian | 181 | $52,635,000 | $290,801 | $6,248 | 3.26% |
| Native Hawaiian | 92 | $31,780,000 | $345,435 | $6,094 | 3.25% |
| Asian Indian | 8 | $2,920,000 | $365,000 | $4,996 | 2.95% |
| Other Asian | 7 | $2,605,000 | $372,143 | $6,877 | 3.50% |
| Other Pacific Islander | 5 | $1,235,000 | $247,000 | $7,370 | 3.25% |
| Chinese | 2 | $1,010,000 | $505,000 | $7,047 | 3.00% |
| Filipino | 1 | $495,000 | $495,000 | $6,735 | 3.38% |
Approval Rates
Total approvals of all applications95.07%
Bay Equity has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.98%
Bay Equity has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 31,172 | $9,499,400,000 | $304,741 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 607 | $124,495,000 | $205,099 |
| Single Family (1-4 Units):Site-Built | 30,565 | $9,374,905,000 | $306,720 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1,151 | $269,055,000 | $233,758 | $3,677 | 3.02% |
| 40-60% | 4,477 | $1,363,305,000 | $304,513 | $3,918 | 3.04% |
| 60-80% | 11,250 | $3,670,770,000 | $326,291 | $4,575 | 3.25% |
| 80-100% | 13,504 | $4,033,950,000 | $298,723 | $6,379 | 3.30% |
| Over 100% | 375 | $138,895,000 | $370,387 | $14,355 | 3.21% |
| Under 20% | 415 | $23,425,000 | $56,446 | $3,161 | 3.99% |