BayCoast Mortgage Interest Rate and Cost Review

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

Review ItemBayCoast Mortgage
Interest Ratelower than other lenders (-0.10%)
Loan Related Closing Costslower than other lenders (-$649)
National Rate and Closing Cost Star Rating(4)

On average, BayCoast Mortgage’s interest rates were lower than those of other lenders (-0.10%). Its loan related closing costs were also lower than those of other lenders, with a difference of -$649. Overall, combining interest rates and closing costs we estimate that BayCoast Mortgage tends to be a cheap 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 BayCoast Mortgage, its website is located at: https://www.baycoastmortgage.com.

BayCoast Mortgage’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 BayCoast Mortgage was most active in:

  1. Providence, RI
  2. Boston, MA
  3. Stamford, CT
  4. Manchester, NH
  5. Washington, DC

BayCoast Mortgage’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, BayCoast Mortgage originated Conforming, FHA and Jumbo 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 MortgagesConformingFHAJumbo
Interest Rate Difference-0.10%-0.15%+0.01%
Loan Related Closing Cost Difference-$254-$331+$8
Cost Adjusted Rate Difference-0.12%-0.16%+0.01%
National Star Rating(4)(4.5)(3.5)
Refinance MortgagesConformingFHAJumbo
Interest Rate Difference-0.10%+0.00%+0.02%
Loan Related Closing Cost Difference-$964-$56+$20
Cost Adjusted Rate Difference-0.15%+0.00%+0.02%
Average Star Rating(4)(3.5)(3.5)

As a summary, BayCoast Mortgage is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, BayCoast Mortgage is cheap for Conforming mortgage refinance. It is similar to 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 BayCoast Mortgage:

Registered name: BayCoast Mortgage Company
Registered city and state: SWANSEA, MA, 02777-4112
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: NARRAGANSETT FINANCIAL CORP

* 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 BayCoast Mortgage’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.