Coastal Bank & Trust Mortgage Rates, Fees & Info
Jacksonville, NCLEI: 54930027DI91BISPCH61
Tax ID: 26-3754431
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Mortgage Data
Review & Overview
Coastal Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Coastal Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Wilmington, Greenville, Hilton Head Island, and New Bern among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Coastal Bank & Trust has an above average approval rate when compared to the average across all lenders.
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Originations
18Origination Dollar Volume (All Markets)
$2,000,000Top 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 |
|---|---|---|---|---|---|
| JACKSONVILLE, NC (FHA|USDA|VA) | 13 | $1,015,000 | $78,077 | $0 | 5.46% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $8,412 | 5.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.50% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,031 | 5.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 18 | $2,000,000 | $111,111 | $4,721 | 5.44% |
For 2018, Coastal Bank & Trust's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 14 | $1,070,000 | $76,429 | $0 | 5.43% |
| Refi | 4 | $930,000 | $232,500 | $4,721 | 5.50% |
For 2018, Coastal Bank & Trust's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2018, Coastal Bank & Trust's most frequently cited loan duration was Other, with 9 originations. The 2nd most popular length was 5 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $35,000 | $35,000 |
| $5k+ | 1 | $605,000 | $605,000 |
Coastal Bank & Trust's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 11 | $1,605,000 | $145,909 |
| 4-5% | 5 | $225,000 | $45,000 |
| 6-7% | 2 | $170,000 | $85,000 |
During 2018, Coastal Bank & Trust's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 11 originations.
Loan Sizing
2018 saw Coastal Bank & Trust place emphasis on $100,000 or less loans with 10 originations, totaling $530,000 in origination value.
Applicant Income
Coastal Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $75k-100k, with 2 originations.
Applicant Debt to Income Ratio
Coastal Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.00%
Coastal Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 18 | $2,000,000 | $111,111 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $185,000 | $185,000 |
| Single Family (1-4 Units):Site-Built | 17 | $1,815,000 | $106,765 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 2 | $90,000 | $45,000 | $1,031 | 5.25% |
| 60-80% | 8 | $620,000 | $77,500 | $0 | 5.41% |
| 80-100% | 8 | $1,290,000 | $161,250 | $8,412 | 5.53% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CASTLE ROCK | Conventional home mortgage | Struggling to pay mortgage | 2 | 100.0% |