Is Bay Capital Mortgage Corporation a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Bay Capital Mortgage Corporation to those of other lenders for a comparable set of borrowers. Here is our review of Bay Capital Mortgage Corporation nationally:
| Review Item | Bay Capital Mortgage Corporation |
|---|---|
| Interest Rate | similar to other lenders (-0.06%) |
| Loan Related Closing Costs | lower than other lenders (-$263) |
| National Rate and Closing Cost Star Rating | (4) |
On average, Bay Capital Mortgage Corporation’s interest rates were similar to those of other lenders (-0.06%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$263. Overall, combining interest rates and closing costs we estimate that Bay Capital Mortgage Corporation tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Bay Capital Mortgage Corporation, check out its website at: https://www.baycapitalmortgage.com.
Bay Capital Mortgage Corporation’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Bay Capital Mortgage Corporation was most active in:
In addition, Bay Capital Mortgage Corporation is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Easton, MD, overall
Bay Capital Mortgage Corporation’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, Bay Capital Mortgage Corporation originated Conforming, Jumbo and USDA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
| New Purchase Mortgages | Conforming | Jumbo | USDA |
|---|---|---|---|
| Interest Rate Difference | -0.07% | +0.04% | -0.02% |
| Loan Related Closing Cost Difference | -$202 | +$49 | -$175 |
| Cost Adjusted Rate Difference | -0.08% | +0.04% | -0.04% |
| National Star Rating |
| Refinance Mortgages | Conforming | Jumbo |
|---|---|---|
| Interest Rate Difference | -0.06% | +0.01% |
| Loan Related Closing Cost Difference | -$407 | +$4 |
| Cost Adjusted Rate Difference | -0.08% | +0.01% |
| Average Star Rating |
As a summary, Bay Capital Mortgage Corporation is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing mortgages, Bay Capital Mortgage Corporation is cheap for Conforming mortgage refinance. It is similar to other lenders for 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 Bay Capital Mortgage Corporation:
Registered city and state: Annapolis, MD, 21401
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 Bay Capital Mortgage Corporation’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.