Coastal Carolina National Bank Mortgage Rates, Fees & Info

Myrtle Beach, SC

LEI: 54930004SDYVHYN4M716

Tax ID: 80-0291968

5 stars - Updated: 7/11/24 - out of 5 stars, based on 17 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Coastal Carolina National Bank is a smaller bank specializing in Home Purchase loans. Coastal Carolina National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Myrtle Beach, Augusta, Georgetown, Greenville, and Hilton Head Island among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Coastal Carolina National Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Coastal Carolina National Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.49% 7/11/24
30 Year Conventional Refi 6.24% 7/11/24
30 Year Cash-out Refi 6.62% 7/11/24
30 Year VA Refi 6.27% 7/11/24
15 Year Conventional Purchase 6.69% 7/11/24
15 Year Conventional Refi 6.24% 7/11/24
15 Year Cash-out Refi 6.24% 7/11/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Coastal Carolina National Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Coastal Carolina National Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

279

Origination Dollar Volume (All Markets)

$94,435,000

Awards

Coastal Carolina National Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Coastal Carolina National Bank's average 30 year fixed mortgage rate was 6.94%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.46%.

Relative Fees (Closing Costs)

Coastal Carolina National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,142.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 179 $47,025,000 $262,709 $4,251 7.22%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 37 $15,385,000 $415,811 $4,788 6.87%
Georgetown, SC (FHA|USDA|VA) 14 $11,310,000 $807,857 $5,739 6.90%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 16 $5,370,000 $335,625 $5,661 6.98%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $3,785,000 $1,261,667 $7,021 6.29%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $3,325,000 $475,000 $4,299 6.86%
Outside of Metro Areas 2 $1,530,000 $765,000 $0 7.60%
WILMINGTON, NC (FHA|USDA|VA) 2 $980,000 $490,000 $4,760 6.56%
ASHEVILLE, NC (FHA|USDA|VA) 1 $825,000 $825,000 $0 6.88%
Greenwood, SC (FHA|USDA|VA) 3 $795,000 $265,000 $4,329 7.21%
SPARTANBURG, SC (FHA|USDA|VA) 4 $730,000 $182,500 $2,702 7.63%
Orangeburg, SC (FHA|USDA|VA) 1 $725,000 $725,000 $5,970 6.75%
COLUMBIA, SC (FHA|USDA|VA) 3 $695,000 $231,667 $2,823 8.16%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $405,000 $405,000 $0 7.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $395,000 $395,000 $3,750 5.63%
FLORENCE, SC (FHA|USDA|VA) 1 $315,000 $315,000 $0 5.88%
Seneca, SC (FHA|USDA|VA) 1 $295,000 $295,000 $3,209 5.63%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 6.50%
BURLINGTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.88%
Gaffney, SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.25%
Coastal Carolina National Bank's top markets include Myrtle Beach, Augusta, Georgetown, Greenville, and Hilton Head Island among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Coastal Carolina National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Community First Bank, Inc.
    Similarity Rank: 135
    SRP Federal Credit Union
    Similarity Rank: 190
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    AUGUSTA MORTGAGE CO.
    Similarity Rank: 464
    Security Federal Bank
    Similarity Rank: 630
    COASTAL Federal Credit Union
    Similarity Rank: 663
    Associated Credit Union
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 279 $94,435,000 $338,477 $4,514 7.11%

    For 2023, Coastal Carolina National Bank's most frequently originated type of loan was Conventional, with 279 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 255 $86,875,000 $340,686 $4,583 7.14%
    Refi 12 $4,420,000 $368,333 $3,993 7.05%
    Cash Out Refi 12 $3,140,000 $261,667 $3,512 6.54%

    For 2023, Coastal Carolina National Bank's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 160 $47,000,000 $293,750 $4,142 6.94%
    30+ year 47 $25,835,000 $549,681 $5,769 6.82%
    5 Year 29 $11,995,000 $413,621 $0 7.65%
    15 Year 25 $4,225,000 $169,000 $3,824 7.83%
    20 Year 16 $2,770,000 $173,125 $3,366 7.37%
    1 Year 1 $205,000 $205,000 $0 9.00%
    3 Year 1 $2,405,000 $2,405,000 $0 7.88%

    For 2023, Coastal Carolina National Bank's most frequently cited loan duration was 30 Year, with 160 originations. The 2nd most popular length was 30+ year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $57,445,000 $352,423
    $1k-2k 8 $2,200,000 $275,000
    $3k-4k 8 $2,940,000 $367,500
    $4k-5k 4 $1,280,000 $320,000
    $5k+ 4 $2,500,000 $625,000
    $2k-3k 3 $545,000 $181,667

    Coastal Carolina National Bank's average total fees were $4,142, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 146 $41,630,000 $285,137
    6-7% 90 $36,890,000 $409,889
    5-6% 27 $11,935,000 $442,037
    Over 8% 16 $3,980,000 $248,750

    During 2023, Coastal Carolina National Bank's average interest rate for loans was 6.94%, while their most frequently originated rate bucket for loans was 7-8%, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 99 $27,505,000 $277,828 $4,172 7.01%
    $100k-200k 92 $13,960,000 $151,739 $3,651 7.38%
    $400k-600k 44 $21,020,000 $477,727 $5,293 6.88%
    $600k-1MM 22 $15,250,000 $693,182 $5,523 6.70%
    $100,000 or less 12 $1,010,000 $84,167 $3,169 7.45%
    $1MM+ 10 $15,690,000 $1,569,000 $9,273 7.12%

    2023 saw Coastal Carolina National Bank place emphasis on $200k-400k loans with 99 originations, totaling $27,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 84 $35,330,000 $420,595 $4,817 7.02%
    $150k-250k 83 $25,125,000 $302,711 $4,291 7.07%
    $100k-150k 43 $10,665,000 $248,023 $4,273 7.08%
    $50k-75k 19 $3,205,000 $168,684 $3,905 6.90%
    $75k-100k 11 $3,045,000 $276,818 $4,704 7.14%
    $50k or less 6 $680,000 $113,333 $4,074 6.98%

    Coastal Carolina National Bank lent most frequently to those with incomes in the $250k+ range, with 84 originations. The second most popular income band? $150k-250k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 50 $17,030,000 $340,600 $4,246 6.95%
    30-36% 50 $14,430,000 $288,600 $4,235 7.08%
    42% 24 $6,050,000 $252,083 $4,037 7.17%
    40% 18 $5,430,000 $301,667 $4,397 7.09%
    39% 16 $3,570,000 $223,125 $3,730 7.03%
    <20% 15 $5,385,000 $359,000 $4,634 6.58%
    41% 11 $3,445,000 $313,182 $4,031 7.24%
    38% 11 $3,335,000 $303,182 $4,127 7.09%
    36% 9 $2,235,000 $248,333 $3,849 7.32%
    43% 8 $3,340,000 $417,500 $6,842 7.28%
    44% 8 $3,440,000 $430,000 $5,474 7.23%
    37% 6 $1,860,000 $310,000 $4,118 6.60%
    48% 5 $2,085,000 $417,000 $5,948 7.30%
    45% 4 $1,400,000 $350,000 $5,244 7.25%
    47% 3 $845,000 $281,667 $5,472 6.92%
    46% 3 $885,000 $295,000 $5,816 6.12%
    >60% 3 $3,015,000 $1,005,000 $6,139 6.75%
    49% 2 $490,000 $245,000 $3,202 7.44%

    Coastal Carolina National Bank lent most frequently to those with DTI ratios of 20-30%, with 50 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 213 $74,195,000 $348,333 $4,602 7.03%
    Not applicable 27 $10,325,000 $382,407 $0 7.84%
    Not provided 22 $5,600,000 $254,545 $4,088 7.13%
    Asian 12 $3,180,000 $265,000 $4,145 6.94%
    Black 3 $835,000 $278,333 $3,957 6.83%
    Asian Indian 2 $300,000 $150,000 $3,406 7.38%

    Approval Rates

    Total approvals of all applications
    90.52%

    Coastal Carolina National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.46%

    Coastal Carolina National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    950.0 1 $215,000 $215,000
    NA 278 $94,220,000 $338,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    279 $94,435,000 $338,477

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $11,420,000 $475,833 $4,190 6.87%
    40-60% 45 $13,855,000 $307,889 $4,497 6.99%
    60-80% 161 $51,555,000 $320,217 $4,501 7.29%
    80-100% 42 $16,400,000 $390,476 $4,722 6.75%
    Over 100% 1 $435,000 $435,000 $9,608 7.88%
    Under 20% 6 $770,000 $128,333 $3,566 6.65%