Based in Swansea, Massachusetts, BayCoast Mortgage Company offers home loans throughout the Northeast. While it aims to provide competitive mortgage options, borrowers should be aware that processing and origination fees could be included in the loan costs.
See today’s mortgage interest rates on TrueRate.
How BayCoast Mortgage compares to other lenders
| Headquarters | Swansea, Massachusetts |
| Website | baycoastmortgage.com |
| Rate | 0.05% lower than the median rate |
| Lender fees | $1,200 (median on BayCoast Mortgage loans) |
| Savings after 1 year, compared to the median interest rate | $544 |
| Savings after 10 years, compared to the median interest rate | $2,094 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,034 |
| Added cost 10 years (vs. Tomo Mortgage) | $9,090 |
For a $400,000 mortgage, BayCoast’s rates—about 0.05% below the market median—and $1,200 in lender fees would result in estimated savings of approximately $544 in the first year and about $2,094 over 10 years compared to the median lender.
Homebuyers should rate shop and compare loan estimates with lower-cost lenders such as Tomo Mortgage to explore the possibility of 4x the savings—something that becomes increasingly important the longer you plan to stay in the home.
What customers are saying
Customer reviews of BayCoast Mortgage’s services, as seen on platforms like Zillow, BBB, and Yelp, are overwhelmingly positive, particularly regarding the work select Loan Advisors.
Borrowers consistently praised BayCoast Mortgage for its competitive rates and efficient processes. The team was frequently highlighted for their professionalism, responsiveness, and ability to simplify the mortgage process. Customers appreciated clear communication, quick pre-approvals, and seamless closings, often completed within tight timelines.
First-time homebuyers noted that their Loan Officer’s provided thorough guidance, answered all questions promptly, and ensured they felt comfortable throughout the process. Many borrowers also commended BayCoast for speedy approvals and ensuring smooth transactions.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.