Bay Equity Home Loans Mortgage Interest Rate and Cost Review

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

Review ItemBay Equity Home Loans
Interest Ratesimilar to other lenders (+0.05%)
Loan Related Closing Costshigher than other lenders (+$272)
National Rate and Closing Cost Star Rating(3)

On average, Bay Equity Home Loans’s interest rates were similar to those of other lenders (+0.05%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$272. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Bay Equity Home Loans, check out its website at:

Bay Equity Home Loans’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 Equity Home Loans was most active in:

  1. Seattle, WA
  2. Phoenix, AZ
  3. Minneapolis, MN
  4. Grand Junction, CO
  5. Chicago, IL

In addition, Bay Equity Home Loans is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

  1. Grand Junction, CO, for FHA mortgages
  2. Steamboat Springs, CO, for FHA mortgages
  3. Montrose, CO, for FHA mortgages
  4. Mount Crested Butte, CO, for VA mortgages

Bay Equity Home Loans’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 Equity Home Loans originated Conforming, FHA, Jumbo, USDA 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.

New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.06%+0.06%+0.07%+0.02%+0.06%
Loan Related Closing Cost Difference+$354+$402+$261+$73-$34
Cost Adjusted Rate Difference+0.07%+0.09%+0.08%+0.03%+0.06%
National Star Rating(3)(3)(3)(3.5)(3)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.04%-0.01%+0.06%-0.00%+0.04%
Loan Related Closing Cost Difference+$181+$148+$235-$4+$25
Cost Adjusted Rate Difference+0.05%+0.00%+0.06%-0.00%+0.04%
Average Star Rating(3.5)(3.5)(3)(3.5)(3.5)

As a summary, Bay Equity Home Loans is similar to other lenders for USDA purchase mortgages. It is more expensive than other lenders for Conforming, FHA, Jumbo and VA purchase mortgages. For refinancing, Bay Equity Home Loans is similar to other lenders for Conforming, FHA, USDA and VA mortgage refinance. It is more expensive than 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 Equity Home Loans:

Registered name: Bay Equity
Registered city and state: Corte Madera, CA, 94925
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 Equity Home Loans’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.