Baycoast Mortgage Company Rates, Fees & Info

SWANSEA, MA

LEI: 549300SYR11CYON0JE74

Tax ID: 46-2886385

5 stars - Updated: 2/26/24 - out of 5 stars, based on 37 reviews

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

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Mortgage Data

Review & Overview

Baycoast Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. Baycoast Mortgage Company has a high proportion of conventional 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: Providence, Boston, Worcester, Bridgeport, and Barnstable Town among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)

Baycoast Mortgage Company 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. Baycoast Mortgage Company 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.

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 6.36% 2/26/24
30 Year Conventional Refi 6.27% 2/26/24
30 Year Cash-out Refi 6.46% 2/26/24
30 Year FHA Purchase 7.19% 2/26/24
30 Year FHA Refi 6.40% 2/26/24
30 Year VA Purchase 5.74% 2/26/24
15 Year Conventional Purchase 4.24% 2/26/24
15 Year Conventional Refi 5.64% 2/26/24
15 Year Cash-out Refi 5.64% 2/26/24
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.

Baycoast Mortgage Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Baycoast Mortgage Company. 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

1,372

Origination Dollar Volume (All Markets)

$628,350,000
Show all (8) awards

Relative Rate

Baycoast Mortgage Company's average 30 year fixed mortgage rate was 4.5%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.26%.

Relative Fees (Closing Costs)

Baycoast Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,510.

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 $4,750.

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
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 879 $369,545,000 $420,415 $4,270 4.35%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 234 $133,170,000 $569,103 $4,491 4.36%
WORCESTER, MA-CT (FHA|USDA|VA) 74 $24,410,000 $329,865 $4,305 4.55%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 32 $21,590,000 $674,688 $4,883 3.48%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 26 $15,180,000 $583,846 $4,980 4.47%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $14,200,000 $1,183,333 $9,475 4.55%
Vineyard Haven, MA (FHA|USDA|VA) 7 $6,275,000 $896,429 $7,427 4.68%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 8 $4,170,000 $521,250 $5,087 5.19%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $3,140,000 $523,333 $4,748 4.15%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 9 $2,745,000 $305,000 $4,565 4.36%
SPRINGFIELD, MA (FHA|USDA|VA) 9 $2,595,000 $288,333 $4,155 5.13%
Concord, NH (FHA|USDA|VA) 5 $2,495,000 $499,000 $3,922 4.10%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $2,225,000 $445,000 $7,002 3.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $2,160,000 $1,080,000 $8,811 5.50%
Lebanon, NH-VT (FHA|USDA|VA) 4 $2,080,000 $520,000 $3,731 4.53%
Outside of Metro Areas 4 $2,040,000 $510,000 $3,431 4.16%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,775,000 $591,667 $5,359 5.46%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,760,000 $440,000 $5,363 5.16%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $1,530,000 $382,500 $3,244 3.56%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,425,000 $475,000 $6,055 4.75%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 5 $1,355,000 $271,000 $3,963 3.83%
Laconia, NH (FHA|USDA|VA) 3 $1,285,000 $428,333 $4,535 3.54%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,070,000 $267,500 $3,007 5.19%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $995,000 $995,000 $6,541 5.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $935,000 $311,667 $5,089 4.38%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $880,000 $440,000 $5,052 4.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $805,000 $805,000 $4,916 4.25%
Keene, NH (FHA|USDA|VA) 4 $790,000 $197,500 $4,478 4.53%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $730,000 $365,000 $5,123 3.81%
Torrington, CT (FHA|USDA|VA) 1 $655,000 $655,000 $5,744 4.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $605,000 $605,000 $4,681 2.13%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $600,000 $300,000 $4,191 5.81%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $500,000 $250,000 $3,570 4.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $495,000 $495,000 $3,896 4.00%
LANCASTER, PA (FHA|USDA|VA) 2 $490,000 $245,000 $5,011 5.75%
Berlin, NH (FHA|USDA|VA) 1 $335,000 $335,000 $0 3.38%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,707 5.25%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $280,000 $140,000 $0 6.94%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,932 3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,403 3.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $145,000 $145,000 $3,073 5.63%
RICHMOND, VA (FHA|USDA|VA) 1 $95,000 $95,000 $2,090 3.50%
Baycoast Mortgage Company's top markets include Providence, Boston, Worcester, Bridgeport, and Barnstable Town among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,346 $619,720,000 $460,416 $4,299 4.35%
    FHA 25 $8,325,000 $333,000 $10,231 4.81%
    VA 1 $305,000 $305,000 $16,288 6.00%

    For 2022, Baycoast Mortgage Company's most frequently originated type of loan was Conventional, with 1,346 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 911 $450,385,000 $494,385 $4,861 4.60%
    Cash Out Refi 249 $100,445,000 $403,394 $3,717 4.07%
    Refi 176 $61,960,000 $352,045 $3,166 3.58%
    Home Improvement 21 $7,755,000 $369,286 $3,734 4.51%
    Other 15 $7,805,000 $520,333 $3,768 4.08%

    For 2022, Baycoast Mortgage Company's most frequently cited loan purpose was Home Purchase, with 911 originations. The 2nd most popular reason was Cash Out Refi, with 249 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,137 $519,635,000 $457,023 $4,510 4.50%
    30+ year 111 $76,845,000 $692,297 $5,152 4.40%
    15 Year 86 $23,130,000 $268,953 $3,047 2.96%
    20 Year 24 $5,770,000 $240,417 $2,712 3.33%
    Other 8 $1,680,000 $210,000 $2,710 4.44%
    10 Year 6 $1,290,000 $215,000 $2,866 2.73%

    For 2022, Baycoast Mortgage Company's most frequently cited loan duration was 30 Year, with 1,137 originations. The 2nd most popular length was 30+ year, with 111 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,003 $472,025,000 $470,613
    $2k-3k 86 $35,730,000 $415,465
    $<1k 41 $14,995,000 $365,732
    $3k-4k 39 $17,545,000 $449,872
    $5k+ 33 $25,065,000 $759,545
    $4k-5k 19 $8,675,000 $456,579

    Baycoast Mortgage Company's average total fees were $4,510, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,003 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 516 $248,930,000 $482,422
    4-5% 303 $150,175,000 $495,627
    5-6% 286 $116,340,000 $406,783
    2.5-3% 100 $51,820,000 $518,200
    6-7% 96 $39,020,000 $406,458
    <2.5% 45 $12,625,000 $280,556
    7-8% 24 $8,660,000 $360,833
    Over 8% 2 $780,000 $390,000

    During 2022, Baycoast Mortgage Company's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 3-4%, with 516 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 586 $175,740,000 $299,898 $4,035 4.45%
    $400k-600k 351 $172,275,000 $490,812 $4,411 4.38%
    $600k-1MM 191 $142,955,000 $748,455 $5,329 4.23%
    $100k-200k 149 $22,805,000 $153,054 $3,036 4.45%
    $1MM+ 74 $113,290,000 $1,530,946 $7,913 4.04%
    $100,000 or less 21 $1,285,000 $61,190 $2,475 3.44%

    2022 saw Baycoast Mortgage Company place emphasis on $200k-400k loans with 586 originations, totaling $175,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 351 $135,185,000 $385,142 $4,099 4.46%
    $150k-250k 311 $151,535,000 $487,251 $4,521 4.30%
    $250k+ 271 $219,085,000 $808,432 $5,523 4.16%
    $75k-100k 209 $67,345,000 $322,225 $4,160 4.55%
    $50k-75k 175 $43,455,000 $248,314 $4,171 4.40%
    $50k or less 44 $7,130,000 $162,045 $3,343 4.42%

    Baycoast Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 351 originations. The second most popular income band? $150k-250k, with 311 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 236 $107,790,000 $456,737 $4,248 4.00%
    30-36% 216 $101,760,000 $471,111 $4,227 4.25%
    <20% 118 $51,770,000 $438,729 $3,872 3.81%
    43% 66 $28,210,000 $427,424 $4,383 4.62%
    42% 60 $25,660,000 $427,667 $4,229 4.63%
    40% 58 $22,570,000 $389,138 $3,937 4.61%
    45% 55 $26,235,000 $477,000 $4,683 4.64%
    38% 54 $21,840,000 $404,444 $3,883 4.48%
    37% 53 $21,905,000 $413,302 $4,836 4.67%
    47% 53 $24,785,000 $467,642 $4,620 4.50%
    44% 52 $20,460,000 $393,462 $4,330 4.91%
    41% 50 $30,250,000 $605,000 $5,102 4.54%
    46% 49 $21,135,000 $431,327 $4,597 4.35%
    48% 49 $20,145,000 $411,122 $3,910 4.51%
    49% 49 $25,165,000 $513,571 $4,764 4.80%
    36% 45 $18,635,000 $414,111 $4,649 4.31%
    50-60% 44 $24,860,000 $565,000 $6,731 4.88%
    39% 44 $18,860,000 $428,636 $4,147 4.24%
    >60% 18 $14,900,000 $827,778 $7,297 4.60%

    Baycoast Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 236 originations. The next most common DTI ratio? 30-36%, with 216 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,062 $494,530,000 $465,659 $4,377 4.30%
    Not provided 215 $93,975,000 $437,093 $4,627 4.51%
    Black 47 $16,395,000 $348,830 $4,914 5.21%
    Asian 28 $15,650,000 $558,929 $4,554 4.48%
    Asian Indian 5 $2,415,000 $483,000 $4,612 4.08%
    American Indian 6 $2,220,000 $370,000 $4,574 5.02%
    Other Asian 4 $1,290,000 $322,500 $3,843 3.78%
    Vietnamese 3 $1,185,000 $395,000 $4,418 3.67%
    Native Hawaiian 1 $515,000 $515,000 $7,662 6.75%
    Filipino 1 $175,000 $175,000 $3,080 3.75%

    Approval Rates

    Total approvals of all applications
    94.94%

    Baycoast Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.76%

    Baycoast Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,372 $628,350,000 $457,981

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,372 $628,350,000 $457,981

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 94 $22,850,000 $243,085 $3,439 4.07%
    40-60% 200 $74,540,000 $372,700 $3,654 4.05%
    60-80% 539 $267,535,000 $496,354 $4,334 4.24%
    80-100% 525 $260,825,000 $496,810 $4,966 4.70%
    Under 20% 14 $2,600,000 $185,714 $3,381 3.11%