Baycoast Mortgage Company Rates, Fees & Info
SWANSEA, MALEI: 549300SYR11CYON0JE74
Tax ID: 46-2886385
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Mortgage Data
Review & Overview
Baycoast Mortgage Company is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi 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, Washington, Worcester, and Bridgeport among others. We have data for 41 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.36% | 4/18/24 |
| 30 Year Conventional Refi | 6.27% | 4/18/24 |
| 30 Year Cash-out Refi | 6.46% | 4/18/24 |
| 30 Year FHA Purchase | 7.19% | 4/18/24 |
| 30 Year FHA Refi | 6.40% | 4/18/24 |
| 30 Year VA Purchase | 5.74% | 4/18/24 |
| 15 Year Conventional Purchase | 4.24% | 4/18/24 |
| 15 Year Conventional Refi | 5.64% | 4/18/24 |
| 15 Year Cash-out Refi | 5.64% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
433Origination Dollar Volume (All Markets)
$132,805,000Awards
BAYCOAST MORTGAGE COMPANY - 2018
BAYCOAST MORTGAGE COMPANY is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 167 | $45,215,000 | $270,749 | $3,589 | 4.65% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 113 | $38,505,000 | $340,752 | $3,656 | 4.61% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 22 | $8,430,000 | $383,182 | $3,266 | 4.43% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 22 | $6,610,000 | $300,455 | $3,740 | 4.60% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 16 | $5,630,000 | $351,875 | $4,096 | 4.52% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 12 | $4,020,000 | $335,000 | $3,886 | 4.31% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 9 | $2,865,000 | $318,333 | $2,925 | 4.25% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 8 | $2,180,000 | $272,500 | $3,766 | 4.31% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 5 | $1,995,000 | $399,000 | $3,191 | 4.80% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $4,869 | 4.44% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $6,740 | 4.28% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $3,675 | 4.38% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $3,186 | 4.33% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $3,782 | 4.45% |
| Torrington, CT (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $3,875 | 4.67% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $5,455 | 4.46% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $3,364 | 4.44% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,835 | 3.81% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $2,636 | 3.94% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,798 | 4.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,431 | 4.25% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,969 | 4.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,104 | 5.13% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,137 | 3.88% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,581 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,941 | 4.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,911 | 4.38% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,554 | 4.50% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,109 | 5.13% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,424 | 3.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,589 | 4.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,943 | 4.94% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,686 | 4.38% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,696 | 5.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,762 | 4.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,756 | 4.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,625 | 3.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,432 | 5.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,053 | 4.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,477 | 4.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,057 | 5.13% |
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 | 418 | $128,540,000 | $307,512 | $3,468 | 4.58% |
| FHA | 15 | $4,265,000 | $284,333 | $8,150 | 4.33% |
For 2018, Baycoast Mortgage Company's most frequently originated type of loan was Conventional, with 418 originations. Their 2nd most popular type was FHA, with 15 originations.
Loan Reason
For 2018, Baycoast Mortgage Company's most frequently cited loan purpose was Home Purchase, with 244 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.
Loan Duration/Length
For 2018, Baycoast Mortgage Company's most frequently cited loan duration was 30 Year, with 378 originations. The 2nd most popular length was 15 Year, with 27 originations.
Origination Fees/Closing Costs
Baycoast Mortgage Company's average total fees were $3,712, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 306 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 297 | $90,485,000 | $304,663 |
| 3-4% | 72 | $24,630,000 | $342,083 |
| 5-6% | 64 | $17,690,000 | $276,406 |
During 2018, Baycoast Mortgage Company's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 297 originations.
Loan Sizing
2018 saw Baycoast Mortgage Company place emphasis on $200k-400k loans with 273 originations, totaling $82,505,000 in origination value.
Applicant Income
Baycoast Mortgage Company lent most frequently to those with incomes in the $100k-150k range, with 126 originations. The second most popular income band? $150k-250k, with 92 originations.
Applicant Debt to Income Ratio
Baycoast Mortgage Company lent most frequently to those with DTI ratios of 30-36%, with 99 originations. The next most common DTI ratio? 20-30%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.72%
Baycoast Mortgage Company has an average approval rate.
Pick Rate
Approvals leading to origination71.36%
Baycoast Mortgage Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 433 | $132,805,000 | $306,709 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 433 | $132,805,000 | $306,709 |