Bayer Heritage Mortgage Rates, Fees & Info

Proctor, WV

LEI: 549300VIRTE6O2776X89

Tax ID: 55-0458073

5 stars - Updated: 11/11/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Bayer Heritage is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Bayer Heritage has a high proportion of conventional loans. Their top markets by origination volume include: Wheeling, Zanesville, Pittsburgh, Charleston, and Houston among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bayer Heritage has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bayer Heritage 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 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 1.85% 11/11/24
30 Year Conventional Refi 1.83% 11/11/24
30 Year Cash-out Refi 2.40% 11/11/24
15 Year Conventional Purchase 1.59% 11/11/24
15 Year Conventional Refi 1.28% 11/11/24
15 Year Cash-out Refi 1.28% 11/11/24
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.

Bayer Heritage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Bayer Heritage. 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

379

Origination Dollar Volume (All Markets)

$36,185,000

Awards

BAYER HERITAGE 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Bayer Heritage's average 30 year fixed mortgage rate was 7.05%.

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

This yields a difference of 0.57%.

Relative Fees (Closing Costs)

Bayer Heritage's average total fees/closing costs for a 30 year fixed rate mortgage were $3,708.

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
WHEELING, WV-OH (FHA|USDA|VA) 156 $13,800,000 $88,462 $3,194 5.75%
Outside of Metro Areas 81 $6,825,000 $84,259 $3,123 5.77%
Zanesville, OH (FHA|USDA|VA) 30 $2,840,000 $94,667 $3,404 5.59%
PITTSBURGH, PA (FHA|USDA|VA) 17 $2,785,000 $163,824 $5,916 5.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 28 $2,550,000 $91,071 $4,558 5.27%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 12 $1,590,000 $132,500 $4,393 5.52%
Clarksburg, WV (FHA|USDA|VA) 8 $1,040,000 $130,000 $3,917 5.65%
Fairmont, WV (FHA|USDA|VA) 8 $570,000 $71,250 $2,689 5.93%
COLUMBUS, OH (FHA|USDA|VA) 7 $495,000 $70,714 $2,827 4.93%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $480,000 $240,000 $6,952 5.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $465,000 $465,000 $0 6.44%
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 3 $325,000 $108,333 $5,348 5.13%
MORGANTOWN, WV (FHA|USDA|VA) 1 $325,000 $325,000 $0 4.75%
BECKLEY, WV (FHA|USDA|VA) 5 $305,000 $61,000 $2,487 5.08%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $260,000 $130,000 $0 5.60%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $235,000 $235,000 $4,377 6.75%
Marietta, OH (FHA|USDA|VA) 2 $200,000 $100,000 $4,221 5.31%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 4 $200,000 $50,000 $2,598 5.53%
COLUMBIA, SC (FHA|USDA|VA) 2 $190,000 $95,000 $3,980 6.19%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $155,000 $155,000 $3,713 6.75%
Georgetown, SC (FHA|USDA|VA) 1 $125,000 $125,000 $3,595 6.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,137 5.75%
Mount Gay-Shamrock, WV (FHA|USDA|VA) 2 $90,000 $45,000 $2,918 5.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $85,000 $85,000 $3,055 5.88%
Portsmouth, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,219 7.00%
Fremont, OH (FHA|USDA|VA) 1 $45,000 $45,000 $2,432 5.88%
CHARLESTON, WV (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.00%
Bayer Heritage's top markets include Wheeling, Zanesville, Pittsburgh, Charleston, and Houston among others.

Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against BAYER HERITAGE 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 205 $28,025,000 $136,707 $3,395 6.26%
    HELOC 174 $8,160,000 $46,897 n/a 4.98%

    For 2023, Bayer Heritage's most frequently originated type of loan was Conventional, with 205 originations. Their 2nd most popular type was HELOC, with 174 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 199 $15,825,000 $79,523 $3,406 5.35%
    Home Purchase 105 $13,645,000 $129,952 $3,329 6.46%
    Refi 38 $4,780,000 $125,789 $3,666 5.89%
    Other 37 $1,935,000 $52,297 $0 4.95%

    For 2023, Bayer Heritage's most frequently cited loan purpose was Cash Out Refi, with 199 originations. The 2nd most popular reason was Home Purchase, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 174 $8,160,000 $46,897 $0 4.98%
    30 Year 84 $13,150,000 $156,548 $3,708 7.05%
    15 Year 72 $8,570,000 $119,028 $3,179 5.70%
    20 Year 34 $5,060,000 $148,824 $0 5.80%
    10 Year 15 $1,245,000 $83,000 $2,672 5.53%

    For 2023, Bayer Heritage's most frequently cited loan duration was Other, with 174 originations. The 2nd most popular length was 30 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 75 $4,685,000 $62,467
    $1k-2k 68 $9,650,000 $141,912
    $2k-3k 16 $3,950,000 $246,875
    $3k-4k 8 $2,770,000 $346,250
    $4k-5k 3 $1,315,000 $438,333
    $5k+ 1 $595,000 $595,000

    Bayer Heritage's average total fees were $3,708, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 75 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 144 $7,140,000 $49,583
    5-6% 133 $13,545,000 $101,842
    6-7% 59 $9,505,000 $161,102
    7-8% 40 $5,840,000 $146,000
    3-4% 2 $100,000 $50,000
    Over 8% 1 $55,000 $55,000

    During 2023, Bayer Heritage's average interest rate for loans was 7.05%, while their most frequently originated rate bucket for loans was 4-5%, with 144 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 250 $11,880,000 $47,520 $2,454 5.41%
    $100k-200k 91 $12,685,000 $139,396 $3,443 6.10%
    $200k-400k 32 $8,640,000 $270,000 $5,322 6.41%
    $400k-600k 5 $2,375,000 $475,000 $8,178 6.14%
    $600k-1MM 1 $605,000 $605,000 $0 6.20%

    2023 saw Bayer Heritage place emphasis on $100,000 or less loans with 250 originations, totaling $11,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 90 $6,490,000 $72,111 $2,951 5.78%
    $100k-150k 87 $9,305,000 $106,954 $3,592 5.61%
    $75k-100k 77 $6,555,000 $85,130 $3,253 5.62%
    $50k or less 60 $3,060,000 $51,000 $2,584 5.64%
    $150k-250k 43 $6,275,000 $145,930 $4,618 5.69%
    $250k+ 22 $4,500,000 $204,545 $5,582 5.69%

    Bayer Heritage lent most frequently to those with incomes in the $50k-75k range, with 90 originations. The second most popular income band? $100k-150k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 72 $7,100,000 $98,611 $3,358 5.96%
    30-36% 68 $5,980,000 $87,941 $3,278 5.41%
    <20% 58 $5,670,000 $97,759 $2,983 5.81%
    50-60% 22 $2,510,000 $114,091 $3,437 5.83%
    44% 18 $1,020,000 $56,667 $2,837 5.27%
    40% 16 $1,620,000 $101,250 $3,753 5.53%
    41% 16 $1,510,000 $94,375 $4,597 5.35%
    39% 15 $1,555,000 $103,667 $3,956 5.67%
    43% 14 $1,200,000 $85,714 $3,553 5.96%
    36% 14 $1,230,000 $87,857 $3,328 5.39%
    38% 14 $960,000 $68,571 $3,279 5.54%
    >60% 11 $925,000 $84,091 $2,430 5.79%
    37% 10 $990,000 $99,000 $3,939 5.51%
    48% 6 $870,000 $145,000 $6,164 5.75%
    45% 6 $220,000 $36,667 $2,024 5.58%
    42% 6 $800,000 $133,333 $4,492 5.56%
    49% 4 $920,000 $230,000 $4,788 5.88%
    47% 3 $135,000 $45,000 $2,748 5.71%
    46% 2 $390,000 $195,000 $4,075 6.81%

    Bayer Heritage lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 318 $28,970,000 $91,101 $3,383 5.65%
    Not provided 50 $6,250,000 $125,000 $3,651 5.83%
    Black 10 $850,000 $85,000 $3,356 5.48%
    Asian 1 $115,000 $115,000 $3,506 7.50%

    Approval Rates

    Total approvals of all applications
    81.77%

    Bayer Heritage has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.47%

    Bayer Heritage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 379 $36,185,000 $95,475

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    379 $36,185,000 $95,475

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 57 $3,775,000 $66,228 $3,150 5.24%
    40-60% 42 $4,160,000 $99,048 $3,060 5.51%
    60-80% 55 $6,835,000 $124,273 $3,326 5.88%
    80-100% 85 $12,975,000 $152,647 $3,548 6.76%
    Over 100% 2 $530,000 $265,000 $7,779 5.31%
    Under 20% 75 $2,835,000 $37,800 $3,055 4.97%