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Bay Capital Mortgage Corporation Review: Is it the Right Choice for You?

What Mortgage Rates Does Bay Capital Mortgage Corporation Offer?

When it comes to taking out a mortgage, there are countless companies competing for your business. And it can be hard to choose the good one. Bay Capital Mortgage Corp is not a new company but has been making waves in the industry lately.

They claim they offer competitive rates and great customer service, but what do their actual customers have to say? In this honest Bay Capital Mortgage Corporation review, we will take a look at their reviews and as well take a deep dive into their website and what they actually provide.

Bay Capital Mortgage Corporation is a mortgage lender that offers a variety of loan products, including FHA, VA, conventional, jumbo, and many other types. The company has been in business since 1994 and is headquartered in Annapolis, Maryland.

They are also licensed to originate loans in MD, PA, DC, VA, WV, DE, NC, SC, GA, and FL.

The minimum credit score required for a loan from Bay Capital Mortgage Corporation is 580 for a conventional loan, 620 for an FHA loan, and 640 for a VA loan.

Loan Amount Up to 10,000,000.
Loan Terms(Years) 15 years, 30 years and 5/1 ARM.
Credit Score Range 580 and up.
Prepayment Fee No
No Origination Fee N/A
Mortgage Programs  FHA, VA, Rural Development, Conventional, Jumbo, Construction and Rehabilitation loans and mortgage refinance programs.
Employment Statuses Considered N/A
Intended Use Home purchase and refi
Joint Loan Applications Accepted N/A
Minimum Age N/A
Property Type Primary residence, vacation homes, investment properties.
Verification Documents Required Pay stubs, tax returns.

How Much Money Can You Borrow from Bay Capital Mortgage Corporation

As we have mentioned above, Bay Capital Mortgage Corporation is a mortgage company that offers a wide variety of mortgage products and services. But, how much money can you borrow from them?

That depends on a few factors, including your credit score, income, debts, and more. However, they do have loan calculators that can give you an idea of how much you can borrow and how much you will need to pay. The maximum amount of money they allow for borrowing is $10,000,000.

Bay Capital Mortgage Corporation Pros & Cons

There are a number of pros and cons to Bay Capital Mortgage Corporation. One of their biggest pros is that they offer a wide variety of lending products available. But on the negative side, and this is a very big con, is that they are not accredited by BBB. This makes them sketchy and unsafe.


  • Good variety of loan types 
  • Long loan repayment periods 
  • Above-average approval rate 
  • They are HUD registered 


  • No BBB accreditation
  • No transparency
  • Bad reviews 
  • High APR and origination fees

What is the Longest Loan Term You May Obtain from a Bay Capital Mortgage Corporation ?

Bay Capital Mortgage Corporation offers a variety of loan products with different term lengths. The longest loan term available is 30 years.

This product is ideal for borrowers who want the stability of a fixed interest rate and monthly payment over a longer period of time.
Besides this, you can also choose between a 15-year fixed term or a 5/1 adjustable-rate loan.

What Mortgage Rates Does Bay Capital Mortgage Corporation Offer?

Bay Capital Mortgage rates come in a variety of mortgages to meet the needs of its customers. Their rates are competitive with other lenders in the market, and they offer a wide range of products to choose from.
Their fixed-rate mortgages are some of the most popular products they offer. These loans have interest rates that remain the same for the life of the loan, so borrowers can budget accordingly.

They offer both 30-year and 15-year terms for these loans.
When it comes to their interest rates for mortgages, they start from 5.66% and go up to 7.18%. This is an average interest rate.

Overall, Bay Capital Mortgage Corporation rates are considered very competitive in comparison to other mortgage bankers that offer similar loans. At the end of the, we do advise you to speak with your loans officer before option for any type of interest rates.

What is the Estimated Funding Time?

After browsing Bay Capital Mortgage Corporation’s website, we were unable to find the exact funding time. Luckily, there are many customer reviews stating it takes between 10 to 15 business days.

But remember that this may vary depending on the type of loan and the borrower’s financial situation. We advise you first to ask what is the expected funding time, before agreeing to anything.

Do They Charge Mortgage Origination Fees?

When it comes to the Bay Capital Mortgage Corporation, they offer very little information on their website. Mostly, they offer you calculators that you can use to check how much they will charge you for a certain loan amount but that might not be true.

Also, when it comes to the origination fees, there is no clear mention if they charge it or not, so we can’t say either yes or no. With that said, we advise you to work with a company that is transparent about its fees.

Does Bay Capital Mortgage Corporation Charge Prepayment Fees?

Judging by reviews it seems that Bay Capital Mortgage Corporation does not charge prepayment fees.

Some mortgage companies will charge a fee if you pay off your loan early, but we found that Bay Capital does not believe in penalizing their customers for doing so. They want you to be able to pay off your loan as soon as you can and save on interest, so there are no prepayment fees charged.

What Mortgage Programs Are Available?

With Bay Capital Mortgage Corporation you have the freedom to choose from a wide variety of different loan types. As we already mentioned, their offer includes:

  • FHA loans 
  • VA loans 
  • Rural development loan program 
  • Conventional loan 
  • Jumbo mortgage 
  • Construction loans
  • Rehabilitation loans 
  • Mortgage refinance programs

What Property Usage Types Does the Bay Capital Mortgage Corporation Allow?

One thing Bay Capital Mortgage Corporation has is a big array of loans that are available for many different purposes. They allow the following property usage types:

  • Primary residences
  • Second homes/vacation homes
  • Investment Properties
  • Condo units
  • Multi-family dwellings (2-4 units)

How Do People Rate Customer Service and User Experience?

Bay Capital Mortgage Corporation has a very mixed array of reviews. Starting from good to bad and also neutral ones.

Of course, not everyone is going to be equally satisfied with the service but when the ratings are more bad than good, it means they are doing something wrong.

So, if you are wondering if Bay Capital Mortgage Corporation is a good and safe lender, both we and many other customers will tell you no. Stay safe and choose a reliable lender.

And if you are looking for a good and reliable lender that will put your needs first, feel free to reach us. Our team is specialized in helping you find the best mortgage lender and as well helping you understand the whole process.

Contacts of Bay Capital Mortgage Corporation

We have mentioned before that Bay Capital Mortgage Corporate has little to no information on its website. For praise, they have both email and phone numbers that you can reach at any time. 

Their office works from Monday to Friday from 9 am to 5 pm, so during that period of time, you can call them. In case you are unable to reach them over the phone, you can email them and you will get a response in the fastest time. 

Phone number: 410-974-6044

Email: [email protected]

Availability of Bay Capital Mortgage Corporation

Bay Capital Mortgage Corporation is a direct lender and servicer, meaning that it provides both the funding for and servicing of its own loan products.

They are headquartered in Maryland and currently operate in 35 states across the United States including Georgia, Florida, West Virginia, Maryland, the District of Columbia, Pennsylvania, Delaware, North Carolina, South Carolina, and Virginia.

The company has a wide network of branches and loan officers, making it easy for consumers to get the financing they need. But as we have mentioned many times, their website has little to no useful information that you need, so we would recommend you go to the nearest branch if possible. It’s better to walk a little bit and keep your money than to be scammed online.

Bay Capital Mortgage Corporation Summary

  • Bay Capital Mortgage Corporation is a mortgage lender based in Annapolis, Maryland.
  • They offer a wide range of loan types including VA, FHA, conventional loans, rural development, jumbo, construction, rehabilitation loans, and reverse mortgages.
  • The company has a bad rating, many complaints, and no BBB regulations.
  • Based on our investigation we concluded that Bay Capital Mortgage Corporation presents itself as a legitimate company but they are far from being legit.

FAQs About Loan

1. Where is Bay Capital Mortgage Corporation’s headquarters?

The company’s headquarters is in Annapolis, Maryland, with an address of 2553 Housley Road, Suite 200.

2. Who are Bay Capital Mortgage Corporation’s competitors?

The competitors of Bay Capital Mortgage Corporation are: American Equity Mortgage inc, Benchmark Mortgage inc, and Neighborhood Loans.

3. How is Bay Capital Mortgage Corp rated?

Bay Capital Mortgage Corporation is really poorly rated with only 1 out of 5 stars on the BBB website.

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