Bay Federal Credit Union Mortgage Lending & HMDA Data, 2024
In 2024, Bay Federal Credit Union of Capitola, CA reported 725 mortgage applications totaling $198.0 million, down 3% from 2023. The average application was for $273,096, and applicants reported an average income of $163,295. 60% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Santa Cruz-Watsonville, CA (509), Salinas, CA (140) and San Jose-Sunnyvale-Santa Clara, CA (28) (applications in parentheses).
| Mortgage Company & Address | Bay Federal Credit Union 3333 Clares Street Capitola, CA 95010 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 725 |
| Total Mortgage Loan Application Amount | $197,995,000 |
| Average Mortgage Loan Application Amount | $273,096 |
| Highest Mortgage Loan Application Amount | $1,455,000 |
| Average Applicant Income | $163,295 |
| Highest Applicant Income | $1,472,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Bay Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Santa Cruz-Watsonville, CA | 509 | $ 145,115,000 | $ 285,098 | $ 169,000 |
| Salinas, CA | 140 | $ 27,470,000 | $ 196,214 | $ 128,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 28 | $ 9,850,000 | $ 351,785 | $ 181,000 |
| Merced, CA | 10 | $ 2,980,000 | $ 298,000 | $ 126,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 6 | $ 1,720,000 | $ 286,666 | $ 162,000 |
| Oakland-Hayward-Berkeley, CA | 5 | $ 2,255,000 | $ 451,000 | $ 239,000 |
| San Francisco-Redwood City-South San Francisco, CA | 5 | $ 2,905,000 | $ 581,000 | $ 221,000 |
| Outside any metro area | 4 | $ 600,000 | $ 150,000 | $ 177,000 |
| Bakersfield, CA | 3 | $ 685,000 | $ 228,333 | $ 110,000 |
| Fresno, CA | 3 | $ 775,000 | $ 258,333 | $ 169,000 |
| Anaheim-Santa Ana-Irvine, CA | 2 | $ 250,000 | $ 125,000 | $ 194,000 |
| Riverside-San Bernardino-Ontario, CA | 2 | $ 760,000 | $ 380,000 | $ 805,000 |
| Chico, CA | 1 | $ 45,000 | $ 45,000 | $ 71,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 1 | $ 915,000 | $ 915,000 | $ 215,000 |
| San Diego-Carlsbad, CA | 1 | $ 145,000 | $ 145,000 | $ 56,000 |
| San Luis Obispo-Paso Robles-Arroyo Grande, CA | 1 | $ 215,000 | $ 215,000 | $ 100,000 |
| Santa Maria-Santa Barbara, CA | 1 | $ 55,000 | $ 55,000 | $ 380,000 |
| Santa Rosa, CA | 1 | $ 165,000 | $ 165,000 | $ 0 |
| Stockton-Lodi, CA | 1 | $ 655,000 | $ 655,000 | $ 0 |
| Visalia-Porterville, CA | 1 | $ 435,000 | $ 435,000 | $ 60,000 |
Mortgage Loan Application Detail Totals for Bay Federal Credit Union in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 451 | $74,445,000 | $165,000 | $1,325,000 | $156,000 | $1,472,000 |
| Home Purchase | 191 | $104,555,000 | $547,000 | $1,455,000 | $192,000 | $1,126,000 |
| Refinancing | 81 | $18,635,000 | $230,000 | $1,385,000 | $137,000 | $504,000 |
| Home Improvement | 2 | $360,000 | $180,000 | $255,000 | $132,000 | $197,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 413 | $107,335,000 | $259,000 | $1,325,000 | $172,000 | $1,472,000 |
| Hispanic | 172 | $44,310,000 | $257,000 | $1,275,000 | $138,000 | $395,000 |
| Not Provided | 107 | $34,815,000 | $325,000 | $1,455,000 | $167,000 | $1,126,000 |
| Asian | 18 | $5,680,000 | $315,000 | $1,045,000 | $201,000 | $385,000 |
| Black or African American | 6 | $2,270,000 | $378,000 | $1,085,000 | $171,000 | $325,000 |
| American Indian or Alaskan Native | 3 | $645,000 | $215,000 | $365,000 | $145,000 | $202,000 |
| Not applicable | 3 | $2,395,000 | $798,000 | $1,385,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 2 | $440,000 | $220,000 | $405,000 | $114,000 | $143,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 725 | $197,995,000 | $273,000 | $1,455,000 | $163,000 | $1,472,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 435 | $129,605,000 | $297,000 | $1,385,000 | $182,000 | $1,472,000 |
| Application Denied By Financial Institution | 133 | $24,095,000 | $181,000 | $1,285,000 | $120,000 | $641,000 |
| Application Withdrawn By Applicant | 105 | $24,925,000 | $237,000 | $945,000 | $137,000 | $629,000 |
| File Closed For Incompleteness | 28 | $7,020,000 | $250,000 | $845,000 | $177,000 | $712,000 |
| Application Approved But Not Accepted | 22 | $11,600,000 | $527,000 | $1,455,000 | $153,000 | $368,000 |
| Preapproval Approved but not Accepted | 2 | $750,000 | $375,000 | $485,000 | $113,000 | $136,000 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 592 | $173,900,000 | $293,000 | $1,455,000 | $173,000 | $1,472,000 |
| Debt-To-Income Ratio | 72 | $11,900,000 | $165,000 | $755,000 | $87,000 | $289,000 |
| Other | 42 | $8,910,000 | $212,000 | $1,285,000 | $164,000 | $641,000 |
| Collateral | 10 | $1,750,000 | $175,000 | $495,000 | $160,000 | $459,000 |
| Unverifiable Information | 5 | $1,155,000 | $231,000 | $545,000 | $140,000 | $242,000 |
| Credit History | 3 | $225,000 | $75,000 | $105,000 | $130,000 | $314,000 |
| Credit Application Incomplete | 1 | $155,000 | $155,000 | $155,000 | $200,000 | $200,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Bay Federal Credit Union's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Bay Federal Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in California, download the full spreadsheet
with aggregated HMDA statistics today.
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