Bayer Heritage Mortgage Rates, Fees & Info

Proctor, WV

LEI: 549300VIRTE6O2776X89

Tax ID: 55-0458073

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Bayer Heritage is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Bayer Heritage has a high proportion of conventional loans. Their top markets by origination volume include: Wheeling, Charleston, Zanesville, Columbus, and Houston among others. We have data for 29 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 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 1.85% 12/16/24
    30 Year Conventional Refi 1.83% 12/16/24
    30 Year Cash-out Refi 2.40% 12/16/24
    15 Year Conventional Purchase 1.59% 12/16/24
    15 Year Conventional Refi 1.28% 12/16/24
    15 Year Cash-out Refi 1.28% 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.

    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

    419

    Origination Dollar Volume (All Markets)

    $44,395,000

    Awards

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

    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) 168 $15,700,000 $93,452 $3,040 4.04%
    Outside of Metro Areas 118 $10,700,000 $90,678 $3,057 4.08%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 31 $3,685,000 $118,871 $3,452 3.82%
    Zanesville, OH (FHA|USDA|VA) 28 $2,780,000 $99,286 $3,587 4.08%
    COLUMBUS, OH (FHA|USDA|VA) 7 $2,365,000 $337,857 $5,957 4.80%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 16 $2,060,000 $128,750 $4,454 3.75%
    PITTSBURGH, PA (FHA|USDA|VA) 10 $1,930,000 $193,000 $5,708 4.05%
    Clarksburg, WV (FHA|USDA|VA) 5 $635,000 $127,000 $2,591 3.95%
    Forest City, NC (FHA|USDA|VA) 1 $495,000 $495,000 $9,076 3.38%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $485,000 $485,000 $7,943 6.25%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $365,000 $365,000 $6,137 4.00%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 7 $345,000 $49,286 $1,823 3.80%
    SUMTER, SC (FHA|USDA|VA) 2 $330,000 $165,000 $4,249 5.81%
    CHARLESTON, WV (FHA|USDA|VA) 2 $310,000 $155,000 $3,688 4.75%
    BECKLEY, WV (FHA|USDA|VA) 5 $285,000 $57,000 $2,186 3.95%
    Mount Vernon, OH (FHA|USDA|VA) 2 $270,000 $135,000 $5,003 3.56%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $255,000 $255,000 $4,112 3.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.50%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 2 $200,000 $100,000 $2,970 3.50%
    Fairmont, WV (FHA|USDA|VA) 1 $165,000 $165,000 $4,242 3.25%
    Kerrville, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,404 4.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $165,000 $165,000 $4,085 6.25%
    Orangeburg, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.50%
    WILMINGTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,338 3.00%
    Coshocton, OH (FHA|USDA|VA) 1 $95,000 $95,000 $3,100 4.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.50%
    Marietta, OH (FHA|USDA|VA) 1 $55,000 $55,000 $1,887 3.00%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.50%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $30,000 $15,000 $0 3.50%
    Bayer Heritage's top markets include Wheeling, Charleston, Zanesville, Columbus, and Houston among others.

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

    OHIO VALLEY COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 35
    Community Bank
    Similarity Rank: 80
    BAYER HERITAGE
    Similarity Rank: 290
    United Bank
    Similarity Rank: 606
    DEVELOPER'S MORTGAGE COMPANY
    Similarity Rank: 1620
    WesBanco
    Similarity Rank: 1845
    Mortgage Research Center, LLC
    Similarity Rank: 2778
    Truist
    Similarity Rank: 8414
    The Huntington National Bank
    Similarity Rank: 10564
    JPMorgan Chase Bank
    Similarity Rank: 12306

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $37,560,000 $136,087 $3,381 4.27%
    HELOC 143 $6,835,000 $47,797 n/a 3.57%

    For 2022, Bayer Heritage's most frequently originated type of loan was Conventional, with 276 originations. Their 2nd most popular type was HELOC, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 143 $6,835,000 $47,797 $0 3.57%
    Home Purchase 131 $18,815,000 $143,626 $3,554 4.60%
    Cash Out Refi 121 $14,175,000 $117,149 $3,096 3.88%
    Refi 24 $4,570,000 $190,417 $3,952 4.41%

    For 2022, Bayer Heritage's most frequently cited loan purpose was Other, with 143 originations. The 2nd most popular reason was Home Purchase, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 143 $6,835,000 $47,797 $0 3.57%
    30 Year 132 $20,260,000 $153,485 $3,644 4.91%
    15 Year 125 $14,575,000 $116,600 $3,122 3.61%
    10 Year 9 $885,000 $98,333 $2,790 3.50%
    5 Year 9 $1,535,000 $170,556 $0 4.65%
    30+ year 1 $305,000 $305,000 $6,872 6.25%

    For 2022, Bayer Heritage's most frequently cited loan duration was Other, with 143 originations. The 2nd most popular length was 30 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 111 $7,465,000 $67,252
    $1k-2k 111 $15,615,000 $140,676
    $2k-3k 28 $6,690,000 $238,929
    $3k-4k 8 $2,830,000 $353,750
    $4k-5k 6 $2,230,000 $371,667
    $5k+ 1 $645,000 $645,000

    Bayer Heritage's average total fees were $3,644, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 111 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 219 $16,395,000 $74,863
    4-5% 98 $13,390,000 $136,633
    2.5-3% 39 $3,935,000 $100,897
    5-6% 32 $5,180,000 $161,875
    6-7% 31 $5,495,000 $177,258

    During 2022, Bayer Heritage's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 3-4%, with 219 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 248 $12,770,000 $51,492 $2,402 3.76%
    $100k-200k 120 $16,830,000 $140,250 $3,458 4.33%
    $200k-400k 42 $10,660,000 $253,810 $5,255 4.59%
    $400k-600k 8 $3,490,000 $436,250 $7,432 4.58%
    $600k-1MM 1 $645,000 $645,000 $10,357 6.88%

    2022 saw Bayer Heritage place emphasis on $100,000 or less loans with 248 originations, totaling $12,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 117 $11,365,000 $97,137 $3,308 4.02%
    $50k or less 90 $5,500,000 $61,111 $2,412 3.91%
    $100k-150k 89 $11,405,000 $128,146 $4,002 4.08%
    $75k-100k 79 $8,775,000 $111,076 $3,409 4.11%
    $150k-250k 41 $6,655,000 $162,317 $4,582 4.04%
    $250k+ 3 $695,000 $231,667 $4,559 4.58%

    Bayer Heritage lent most frequently to those with incomes in the $50k-75k range, with 117 originations. The second most popular income band? $50k or less, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 104 $10,580,000 $101,731 $3,200 4.08%
    30-36% 89 $10,385,000 $116,685 $3,484 4.31%
    <20% 50 $4,370,000 $87,400 $3,040 3.92%
    38% 19 $2,135,000 $112,368 $3,654 3.59%
    39% 17 $1,405,000 $82,647 $3,318 3.81%
    50-60% 17 $1,735,000 $102,059 $3,801 3.89%
    37% 16 $2,150,000 $134,375 $3,922 4.26%
    36% 16 $1,840,000 $115,000 $3,652 4.08%
    43% 13 $1,975,000 $151,923 $4,238 3.79%
    40% 13 $1,615,000 $124,231 $3,222 4.33%
    42% 12 $1,440,000 $120,000 $3,354 3.91%
    41% 11 $1,795,000 $163,182 $4,441 4.32%
    47% 8 $830,000 $103,750 $3,351 3.89%
    44% 7 $475,000 $67,857 $3,736 3.45%
    48% 7 $385,000 $55,000 $2,987 3.70%
    >60% 6 $440,000 $73,333 $2,512 3.62%
    46% 4 $180,000 $45,000 $2,512 3.66%
    49% 3 $215,000 $71,667 $2,428 3.67%
    45% 3 $75,000 $25,000 $0 3.50%

    Bayer Heritage lent most frequently to those with DTI ratios of 20-30%, with 104 originations. The next most common DTI ratio? 30-36%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 397 $41,845,000 $105,403 $3,359 4.03%
    Black 11 $1,335,000 $121,364 $3,845 4.02%
    Not provided 8 $820,000 $102,500 $3,297 4.08%
    American Indian 3 $395,000 $131,667 $4,476 4.50%

    Approval Rates

    Total approvals of all applications
    89.88%

    Bayer Heritage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.09%

    Bayer Heritage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 419 $44,395,000 $105,955

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    419 $44,395,000 $105,955

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 57 $3,965,000 $69,561 $2,756 3.58%
    40-60% 35 $2,595,000 $74,143 $2,568 3.69%
    60-80% 105 $15,165,000 $144,429 $3,540 3.98%
    80-100% 135 $18,865,000 $139,741 $3,504 4.65%
    Over 100% 1 $75,000 $75,000 $0 3.50%
    Under 20% 63 $2,225,000 $35,317 $1,993 3.54%