Baycoast Mortgage Company Rates, Fees & Info

SWANSEA, MA

LEI: 549300SYR11CYON0JE74

Tax ID: 46-2886385

5 stars - Updated: 12/16/24 - out of 5 stars, based on 28 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 an average proportion of FHA loans. Their top markets by origination volume include: Providence, Boston, Worcester, Vineyard Haven, and Barnstable Town among others. We have data for 36 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 an average 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 6.36% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year Cash-out Refi 6.46% 12/16/24
    30 Year FHA Purchase 7.19% 12/16/24
    30 Year FHA Refi 6.40% 12/16/24
    30 Year VA Purchase 5.74% 12/16/24
    15 Year Conventional Purchase 4.24% 12/16/24
    15 Year Conventional Refi 5.64% 12/16/24
    15 Year Cash-out Refi 5.64% 12/16/24
    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.

    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

    762

    Origination Dollar Volume (All Markets)

    $325,770,000
    Show all (8) awards

    Relative Rate

    Baycoast Mortgage Company's average 30 year fixed mortgage rate was 6.54%.

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

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Baycoast Mortgage Company's average total fees/closing costs for a 30 year fixed rate mortgage were $4,905.

    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
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 513 $209,535,000 $408,450 $4,859 6.54%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 102 $53,430,000 $523,824 $4,663 6.40%
    WORCESTER, MA-CT (FHA|USDA|VA) 54 $18,560,000 $343,704 $4,913 6.36%
    Vineyard Haven, MA (FHA|USDA|VA) 18 $12,530,000 $696,111 $5,475 7.04%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 12 $5,700,000 $475,000 $5,893 6.46%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $2,850,000 $1,425,000 $10,013 7.19%
    SPRINGFIELD, MA (FHA|USDA|VA) 10 $2,550,000 $255,000 $3,586 5.58%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,345,000 $469,000 $9,040 6.98%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 5 $2,145,000 $429,000 $7,052 6.33%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,865,000 $621,667 $6,425 6.67%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $1,860,000 $465,000 $5,171 6.16%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,660,000 $415,000 $3,415 7.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $1,430,000 $715,000 $4,996 6.31%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,290,000 $645,000 $6,693 6.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $760,000 $380,000 $4,776 6.56%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $680,000 $340,000 $0 7.06%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $675,000 $675,000 $4,746 6.63%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $660,000 $330,000 $4,103 6.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,906 6.13%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $495,000 $495,000 $4,754 7.38%
    Concord, NH (FHA|USDA|VA) 1 $475,000 $475,000 $3,706 5.13%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,277 6.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $365,000 $365,000 $0 7.00%
    Morehead City, NC (FHA|USDA|VA) 1 $365,000 $365,000 $4,391 6.13%
    OCALA, FL (FHA|USDA|VA) 2 $350,000 $175,000 $4,783 6.38%
    Outside of Metro Areas 1 $315,000 $315,000 $3,482 7.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 7.25%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $245,000 $245,000 $2,758 7.63%
    Laconia, NH (FHA|USDA|VA) 1 $235,000 $235,000 $2,670 6.38%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $235,000 $235,000 $3,758 8.13%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,879 6.00%
    GREENVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $3,301 7.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,311 6.00%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.63%
    Orangeburg, SC (FHA|USDA|VA) 1 $125,000 $125,000 $4,326 7.63%
    Keene, NH (FHA|USDA|VA) 1 $85,000 $85,000 $2,973 6.13%
    Baycoast Mortgage Company's top markets include Providence, Boston, Worcester, Vineyard Haven, and Barnstable Town among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (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.

    Florence Bank
    Similarity Rank: 22
    LUSO
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    RTN FEDERAL CREDIT UNION
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    Adams Community Bank
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    OCEAN STATE CREDIT UNION
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    Greenfield Savings Bank
    Similarity Rank: 45
    The Torrington Savings Bank
    Similarity Rank: 45
    SOMERSET
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    Chelsea Groton Bank
    Similarity Rank: 56
    Stafford Savings Bank
    Similarity Rank: 63

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 706 $301,880,000 $427,592 $4,380 6.54%
    FHA 42 $16,930,000 $403,095 $11,136 6.29%
    VA 14 $6,960,000 $497,143 $9,814 5.96%

    For 2023, Baycoast Mortgage Company's most frequently originated type of loan was Conventional, with 706 originations. Their 2nd most popular type was FHA, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 625 $274,175,000 $438,680 $5,096 6.53%
    Cash Out Refi 64 $23,010,000 $359,531 $4,039 6.80%
    Refi 63 $24,215,000 $384,365 $3,491 5.99%
    Home Improvement 5 $2,155,000 $431,000 $7,001 7.28%
    Other 5 $2,215,000 $443,000 $5,062 6.83%

    For 2023, Baycoast Mortgage Company's most frequently cited loan purpose was Home Purchase, with 625 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 685 $288,275,000 $420,839 $4,905 6.54%
    30+ year 44 $28,860,000 $655,909 $6,478 6.53%
    15 Year 19 $4,985,000 $262,368 $3,233 5.26%
    20 Year 13 $3,545,000 $272,692 $1,053 6.79%
    10 Year 1 $105,000 $105,000 $1,877 6.38%

    For 2023, Baycoast Mortgage Company's most frequently cited loan duration was 30 Year, with 685 originations. The 2nd most popular length was 30+ year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 521 $222,965,000 $427,956
    $<1k 70 $27,020,000 $386,000
    $2k-3k 40 $17,960,000 $449,000
    $5k+ 37 $22,785,000 $615,811
    $3k-4k 17 $6,745,000 $396,765
    $4k-5k 13 $7,125,000 $548,077

    Baycoast Mortgage Company's average total fees were $4,905, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 521 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 342 $140,620,000 $411,170
    5-6% 205 $89,145,000 $434,854
    7-8% 180 $82,780,000 $459,889
    Over 8% 17 $7,075,000 $416,176
    4-5% 14 $6,070,000 $433,571
    <2.5% 4 $80,000 $20,000

    During 2023, Baycoast Mortgage Company's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 6-7%, with 342 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 332 $102,320,000 $308,193 $4,440 6.50%
    $400k-600k 226 $110,290,000 $488,009 $5,277 6.58%
    $600k-1MM 117 $85,815,000 $733,462 $6,116 6.64%
    $100k-200k 65 $10,215,000 $157,154 $3,003 6.53%
    $100,000 or less 11 $645,000 $58,636 $1,533 4.33%
    $1MM+ 11 $16,485,000 $1,498,636 $8,935 6.24%

    2023 saw Baycoast Mortgage Company place emphasis on $200k-400k loans with 332 originations, totaling $102,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 209 $79,395,000 $379,880 $5,241 6.52%
    $150k-250k 209 $96,895,000 $463,612 $5,168 6.59%
    $250k+ 139 $93,655,000 $673,777 $5,300 6.63%
    $75k-100k 105 $32,335,000 $307,952 $4,463 6.36%
    $50k-75k 70 $17,570,000 $251,000 $3,705 6.38%
    $50k or less 25 $4,185,000 $167,400 $3,111 6.26%

    Baycoast Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 209 originations. The second most popular income band? $150k-250k, with 209 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 127 $52,965,000 $417,047 $4,702 6.44%
    20-30% 107 $44,765,000 $418,364 $4,090 6.45%
    49% 58 $24,540,000 $423,103 $5,164 6.60%
    44% 41 $17,685,000 $431,341 $4,171 6.51%
    43% 41 $17,095,000 $416,951 $5,085 6.60%
    47% 36 $15,540,000 $431,667 $6,132 6.69%
    <20% 36 $16,140,000 $448,333 $4,213 6.18%
    39% 36 $13,590,000 $377,500 $4,322 6.59%
    42% 35 $14,605,000 $417,286 $4,844 6.49%
    50-60% 35 $15,975,000 $456,429 $9,069 6.62%
    40% 30 $14,550,000 $485,000 $4,647 6.29%
    45% 30 $11,900,000 $396,667 $4,728 6.38%
    48% 28 $12,350,000 $441,071 $4,420 6.65%
    41% 27 $10,655,000 $394,630 $5,290 6.61%
    46% 23 $9,635,000 $418,913 $5,013 6.91%
    36% 23 $9,215,000 $400,652 $4,151 6.48%
    38% 23 $11,625,000 $505,435 $4,819 6.43%
    37% 22 $10,480,000 $476,364 $4,484 6.56%
    >60% 3 $1,985,000 $661,667 $6,545 7.67%

    Baycoast Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 127 originations. The next most common DTI ratio? 20-30%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 590 $255,530,000 $433,102 $4,899 6.48%
    Not provided 121 $47,645,000 $393,760 $4,812 6.58%
    Black 22 $9,170,000 $416,818 $5,442 6.61%
    Asian 19 $8,285,000 $436,053 $4,537 6.88%
    Asian Indian 5 $2,905,000 $581,000 $4,683 6.25%
    Other Asian 2 $940,000 $470,000 $8,326 6.44%
    American Indian 2 $900,000 $450,000 $3,821 7.56%
    Other Pacific Islander 1 $395,000 $395,000 $2,777 5.88%

    Approval Rates

    Total approvals of all applications
    94.02%

    Baycoast Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.80%

    Baycoast Mortgage Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 762 $325,770,000 $427,520

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    762 $325,770,000 $427,520

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $16,960,000 $314,074 $3,602 6.34%
    40-60% 103 $38,705,000 $375,777 $4,091 6.53%
    60-80% 246 $107,210,000 $435,813 $4,586 6.65%
    80-100% 342 $159,440,000 $466,199 $5,518 6.52%
    Over 100% 3 $1,655,000 $551,667 $19,487 5.58%
    Under 20% 14 $1,800,000 $128,571 $1,013 4.91%