Pacific Bay Lending Group Mortgage Interest Rate and Cost Review

Is Pacific Bay Lending Group a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Pacific Bay Lending Group to those of other lenders for a comparable set of borrowers. Here is our review of Pacific Bay Lending Group nationally:

Review ItemPacific Bay Lending Group
Interest Ratesimilar to other lenders (+0.01%)
Loan Related Closing Costshigher than other lenders (+$451)
National Rate and Closing Cost Star Rating(3.5)

On average, Pacific Bay Lending Group’s interest rates were similar to those of other lenders (+0.01%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$451. Overall, combining interest rates and closing costs we estimate that Pacific Bay Lending Group tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Pacific Bay Lending Group, its website is located at: https://pacbaylending.com/.

Pacific Bay Lending Group’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Pacific Bay Lending Group was most active in:

  1. Los Angeles, CA
  2. Las Vegas, NV
  3. San Francisco, CA
  4. San Jose, CA
  5. San Diego, CA

Pacific Bay Lending Group’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Pacific Bay Lending Group originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference+0.02%+0.14%+0.07%+0.03%
Loan Related Closing Cost Difference+$796+$689+$76+$201
Cost Adjusted Rate Difference+0.05%+0.16%+0.07%+0.03%
National Star Rating(3)(2.5)(3)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.02%+0.03%+0.06%+0.04%
Loan Related Closing Cost Difference+$310+$325+$68+$7
Cost Adjusted Rate Difference-0.00%+0.05%+0.06%+0.04%
Average Star Rating(3.5)(3)(3)(3.5)

As a summary, Pacific Bay Lending Group is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming, FHA and Jumbo purchase mortgages. For refinancing, Pacific Bay Lending Group is similar to other lenders for Conforming and VA mortgage refinance. It is more expensive than other lenders for FHA and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Pacific Bay Lending Group:

Registered name: Bay Valley Mortgage Group DBA Pacific Bay Lending Group
Registered city and state: HAYWARD, CA, 94541
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Pacific Bay Lending Group’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.