The Mortgage Record
Lender report card · New Jersey

Bay Equity Llc

Detroit, MI · What the federal mortgage record shows about how Bay Equity Llc treated New Jersey applicants, 2018–2025 — 431 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
92.1%
397 approved
Denial rate
7.9%
34 denied
Decisions
431
2018–2025
Avg. rate spread
+0.16 pp
vs. market benchmark
92.1% approved
7.9% denied

Share of 431 New Jersey applications Bay Equity Llc approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional94.0% of 350 · NJ 87%FHA85.7% of 63 · NJ 79%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

87%89%91%93%95%97%96%90%91%95%2022202320242025

Pricing

Adjusting for its loan-type mix, Bay Equity Llc’s rates ran -0.14 pp lower than the typical New Jersey lender (average rate spread +0.16 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Bay Equity Llc approves

By income
$50–75k76.0% · 25$75–100k89.3% · 56$100–150k94.9% · 117$150–250k94.3% · 158$250k+93.8% · 65
By debt-to-income
Under 36%95.8% · 14436–43%96.9% · 9743–50%94.1% · 135Over 50%71.7% · 53
By down payment (LTV)
20%+ down94.5% · 23610–20% down90.3% · 625–10% down93.7% · 633–5% down85.2% · 54

Why Bay Equity Llc denied applications

Incomplete application41% of denialsEmployment history38% of denialsDebt-to-income ratio35% of denialsCollateral (value/type)29% of denialsUnverifiable information26% of denialsCredit history21% of denials

Where Bay Equity Llc lends in NJ

CountyDecisionsApproval
Burlington County4591.1%
Monmouth County4097.5%
Hudson County3989.7%
Camden County3974.4%
Ocean County3697.2%
Mercer County3196.8%
Bergen County29100.0%
Middlesex County2896.4%

Fees & closing costs

Median total loan costs
$5,794
home purchase
As % of loan
1.50%
NJ median 1.93%
Priced originations
382
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Bay Equity Llc’s home-purchase originations — 0.43 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $1,040. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Bay Equity Llc (LEI 549300PL8ER6H23P0Z91). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →