Gold Coast Bank Mortgage Rates, Fees & Info

Chicago, IL

LEI: 5493003X9FWFI47DPO39

Tax ID: 20-8688354

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Gold Coast Bank is a smaller bank specializing in Refi and Home Purchase loans. Gold Coast Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Chicago, Los Angeles, Phoenix, Miami, and Boston among others. Gold Coast Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Gold Coast Bank is typically an average fee lendor.


Originations

839

Origination Dollar Volume (All Markets)

$393,885,000

Employee count

39

Awards

Gold Coast Bank 30 Year Conventional Loans silver Gold Coast Bank FHA Loans bronze Gold Coast Bank 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Gold Coast Bank's average 30 year fixed rate mortgage of loans were 3.04%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.11%.

Relative Fees

Gold Coast Bank's average total fees for a 30 year fixed rate mortgage are $4,320.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 693 $312,885,000 $451,494 $4,468 3.02%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 9 $9,165,000 $1,018,333 $4,913 3.29%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 9 $8,365,000 $929,444 $6,317 2.96%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $8,235,000 $748,636 $9,789 3.06%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $4,870,000 $1,217,500 $5,914 3.44%
NILES, MI (FHA|USDA|VA) 7 $3,865,000 $552,143 $6,293 3.38%
Outside of Metro Areas 11 $3,625,000 $329,545 $3,023 3.09%
Key West, FL (FHA|USDA|VA) 1 $2,705,000 $2,705,000 $14,732 2.75%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $2,430,000 $405,000 $3,371 2.71%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $2,290,000 $572,500 $10,807 2.97%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $2,190,000 $1,095,000 $2,625 3.50%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $2,025,000 $675,000 $2,894 2.79%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $1,895,000 $379,000 $5,317 3.70%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,675,000 $558,333 $5,022 3.17%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $1,550,000 $775,000 $6,696 2.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $1,365,000 $455,000 $3,261 2.87%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,305,000 $435,000 $5,433 2.66%
Whitewater, WI (FHA|USDA|VA) 3 $1,305,000 $435,000 $3,051 3.04%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $1,240,000 $310,000 $5,985 2.78%
Kapaa, HI (FHA|USDA|VA) 1 $1,165,000 $1,165,000 $22,332 3.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $1,165,000 $388,333 $3,305 4.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $9,984 3.25%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $15,108 4.75%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $950,000 $475,000 $8,574 3.31%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $920,000 $460,000 $4,534 3.06%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $890,000 $445,000 $3,335 2.56%
ROCKFORD, IL (FHA|USDA|VA) 3 $885,000 $295,000 $4,511 3.04%
Seneca, SC (FHA|USDA|VA) 1 $885,000 $885,000 $5,509 2.75%
BOULDER, CO (FHA|USDA|VA) 2 $840,000 $420,000 $3,101 2.50%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $740,000 $370,000 $3,415 2.93%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $610,000 $305,000 $3,963 3.44%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $610,000 $305,000 $3,062 2.69%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $545,000 $545,000 $0 3.38%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $545,000 $545,000 $8,967 1.88%
DOTHAN, AL (FHA|USDA|VA) 1 $545,000 $545,000 $4,155 3.25%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $545,000 $545,000 $4,156 2.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $540,000 $270,000 $2,811 2.75%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $515,000 $515,000 $3,731 2.75%
AKRON, OH (FHA|USDA|VA) 1 $465,000 $465,000 $3,864 2.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $445,000 $445,000 $4,155 2.38%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $440,000 $220,000 $3,277 2.93%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $395,000 $395,000 $5,166 2.88%
Dixon, IL (FHA|USDA|VA) 1 $375,000 $375,000 $3,262 2.63%
ANN ARBOR, MI (FHA|USDA|VA) 1 $375,000 $375,000 $2,872 2.50%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $325,000 $325,000 $4,060 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,349 3.81%
KANKAKEE, IL (FHA|USDA|VA) 2 $290,000 $145,000 $2,540 2.94%
Breckenridge, CO (FHA|USDA|VA) 1 $285,000 $285,000 $3,329 2.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $275,000 $275,000 $3,916 2.88%
Traverse City, MI (FHA|USDA|VA) 1 $265,000 $265,000 $3,964 2.99%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $225,000 $225,000 $3,660 2.88%
Heber, UT (FHA|USDA|VA) 1 $225,000 $225,000 $3,275 2.88%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,376 2.13%
FLORENCE, SC (FHA|USDA|VA) 2 $200,000 $100,000 $3,549 2.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,849 2.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,980 2.88%
Ada, OK (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.88%
Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $3,024 2.50%

Gold Coast Bank's top markets include Chicago, Los Angeles, Phoenix, Miami, and Boston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 826 $389,520,000 $471,574 $4,518 3.03%
FHA 13 $4,365,000 $335,769 $10,462 2.86%

For the 2021 period, Gold Coast Bank's most frequently originated loan type of loans were Conventional, with 826 originations. Their 2nd most popular type is FHA, with 13 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 396 $170,560,000 $430,707 $2,982 2.89%
Home Purchase 336 $183,030,000 $544,732 $7,240 3.18%
Cash Out Refi 97 $37,315,000 $384,691 $2,787 2.99%
Home Improvement 7 $1,935,000 $276,429 $6,265 3.79%
Other 3 $1,045,000 $348,333 $6,349 4.13%

For the 2021, Gold Coast Bank's most frequently cited loan purpose of loans were Refi, with 396 originations. The 2nd most popular reason of loans were Home Purchase, with 336 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 618 $277,740,000 $449,417 $4,320 3.04%
15 Year 102 $33,290,000 $326,373 $2,869 2.54%
1 Year 46 $34,120,000 $741,739 $10,728 3.61%
20 Year 34 $11,280,000 $331,765 $2,874 2.94%
Other 25 $28,075,000 $1,123,000 $18,469 3.56%
10 Year 7 $5,795,000 $827,857 $4,445 2.38%
5 Year 6 $2,030,000 $338,333 $7,309 3.88%
30+ year 1 $1,555,000 $1,555,000 $0 4.25%

For the 2021, Gold Coast Bank's most frequently cited loan length of loans were 30 Year, with 618 originations. The 2nd most popular length of loans were 15 Year, with 102 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 611 $262,315,000 $429,321
$5k+ 46 $54,050,000 $1,175,000
$3k-4k 15 $4,875,000 $325,000
$<1k 10 $1,830,000 $183,000
$2k-3k 5 $3,095,000 $619,000

$4,320 of loans were Gold Coast Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 611 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 394 $167,640,000 $425,482
3-4% 265 $150,235,000 $566,925
<2.5% 125 $40,465,000 $323,720
4-5% 55 $35,545,000 $646,273

During 2021, Gold Coast Bank's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 394 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 337 $100,315,000 $297,671 $3,654 2.96%
$400k-600k 269 $131,145,000 $487,528 $4,058 2.99%
$100k-200k 90 $13,470,000 $149,667 $2,976 2.98%
$600k-1MM 76 $57,800,000 $760,526 $6,428 3.33%
$1MM+ 54 $90,210,000 $1,670,556 $13,877 3.36%
$100,000 or less 13 $945,000 $72,692 $2,348 2.62%

2021 saw Gold Coast Bank place emphasis on $200k-400k loans with 337 originations, totaling $100,315,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 238 $169,170,000 $710,798 $6,525 3.10%
$150k-250k 205 $88,235,000 $430,415 $4,158 2.98%
$100k-150k 166 $55,370,000 $333,554 $3,449 2.87%
$75k-100k 77 $23,975,000 $311,364 $4,005 2.85%
$50k-75k 73 $16,085,000 $220,342 $4,082 2.95%
$50k or less 17 $4,335,000 $255,000 $4,765 3.21%

Gold Coast Bank lent most frequently to those with incomes in the $250k+ range, with 238 originations. The second most popular income band? $150k-250k, with 205 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 211 $97,555,000 $462,346 $4,488 2.93%
30-36% 136 $62,490,000 $459,485 $4,523 3.00%
<20% 105 $58,365,000 $555,857 $5,352 2.90%
42% 35 $15,605,000 $445,857 $3,445 3.03%
44% 33 $12,215,000 $370,152 $3,740 3.06%
40% 31 $13,595,000 $438,548 $4,274 3.04%
45% 27 $10,065,000 $372,778 $4,139 3.03%
41% 27 $9,865,000 $365,370 $3,624 2.99%
39% 26 $13,520,000 $520,000 $4,575 2.97%
37% 23 $10,435,000 $453,696 $4,474 2.86%
36% 23 $12,755,000 $554,565 $5,174 3.11%
49% 23 $7,795,000 $338,913 $4,052 3.05%
43% 19 $7,305,000 $384,474 $3,768 3.01%
46% 18 $6,250,000 $347,222 $3,533 2.85%
47% 16 $5,540,000 $346,250 $3,355 2.87%
38% 16 $7,300,000 $456,250 $5,754 3.05%
50-60% 15 $9,975,000 $665,000 $12,880 3.05%
48% 10 $3,730,000 $373,000 $4,057 2.79%
>60% 1 $315,000 $315,000 $9,015 3.25%

Gold Coast Bank lent most frequently to those with DTI ratios of 20-30%, with 211 originations. The next most common DTI ratio? 30-36%, with 136 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 625 $259,235,000 $414,776 $3,902 2.93%
Not provided 98 $77,180,000 $787,551 $10,175 3.48%
Asian 65 $28,295,000 $435,308 $4,369 2.82%
Not applicable 32 $23,730,000 $741,563 $0 4.03%
Black 16 $4,800,000 $300,000 $3,807 2.80%
Native Hawaiian 3 $645,000 $215,000 $2,785 2.71%

Approval Rates

Total approvals of all applications
97.85%

Gold Coast Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
93.61%

Gold Coast Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 839 $393,885,000 $469,470

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
839 $393,885,000 $469,470

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 72 $25,040,000 $347,778 $3,135 2.99%
40-60% 186 $90,300,000 $485,484 $4,346 3.01%
60-80% 423 $210,695,000 $498,097 $4,604 3.09%
80-100% 145 $62,315,000 $429,759 $5,459 2.91%
Over 100% 1 $3,005,000 $3,005,000 $32,625 3.25%
Under 20% 12 $2,530,000 $210,833 $3,375 2.66%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GOLD STAR MORTGAGE FINANCIAL FHA mortgage Trouble during payment process 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Gold Coast Bank 1165 N. Clark Street Suite 200 Chicago, IL 60610 Full Service B&M $378,623

For 2021, Gold Coast Bank had 1 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $18,018
Net interest income $14,036
Total noninterest income $9,396
Gross Fiduciary activities income $0
Service charges on deposit accounts $21
Trading account gains and fees $0
Additional Noninterest Income $9,375
Pre-tax net operating income $6,354
Securities gains (or losses, -) $0
Income before extraordinary items $4,516
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $4,516
Minority interest net income $0
Net income $4,516
Sale, conversion, retirement of capital stock, net $28
Net operating income $4,516

Gold Coast Bank's gross interest income from loans was $18,018,000.
Gold Coast Bank's net interest income from loans was $14,036,000.
Gold Coast Bank's fee based income from loans was $21,000.
Gold Coast Bank's net income from loans was $4,516,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,982
Provision for credit losses $1,200
Total noninterest expense $15,878
Salaries and employee benefits $13,086
Premises and equipment expense $425
Additional noninterest expense $2,367
Applicable income taxes $1,838
Net charge-offs $-19
Cash dividends $3,000

Gold Coast Bank's interest expense for loans was $3,982,000.
Gold Coast Bank's payroll and benefits expense were $13,086,000.
Gold Coast Bank's property, plant and equipment expenses $425,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 1.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $397,537
Deposits held in domestic offices $397,537
Deposits by Individuals, partnerships, and corporations $294,839
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $8,501
Deposits by Commercial banks and other depository institutions in U.S. $94,197
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $51,446
Demand deposits $35,320
Nontransaction accounts $346,091
Money market deposit accounts (MMDAs) $167,766
Other savings deposits (excluding MMDAs) $4,524
Total time deposits $173,801
Total time and savings deposits $362,217
Noninterest-bearing deposits $37,617
Interest-bearing deposits $359,920
Retail deposits $356,736
IRAs and Keogh plan accounts $5,214
Brokered deposits $35,371
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $464,523
Cash & Balances due from depository institutions $106,448
Interest-bearing balances $82,532
Total securities $0
Federal funds sold & reverse repurchase $0
Net loans and leases $349,236
Loan and leases loss allowance $14,853
Trading account assets $0
Bank premises and fixed assets $32
Other real estate owned $2,327
Goodwill and other intangibles $0
All other assets $6,480

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $464,523
Total Liabilities $414,626
Total deposits $397,537
Interest-bearing deposits $359,920
Deposits held in domestic offices $397,537
% insured (estimated) $56
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $15,034
Subordinated debt $0
All other liabilities $2,055

Issued Loan Types

Type Value (in 000's)
Net loans and leases $349,236
Loan and leases loss allowance $14,853
Total loans and leases (domestic) $364,089
All real estate loans $341,296
Real estate loans in domestic offices $341,296
Construction and development loans $37,083
Residential 1-4 family construction $26,307
Other construction, all land development and other land $10,776
Loans secured by nonfarm nonresidential properties $90,855
Nonfarm nonresidential secured by owner-occupied properties $60,091
Commercial real estate & other non-farm, non-residential $30,764
Multifamily residential real estate $22,293
1-4 family residential loans $191,065
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $21,678
To non-U.S. addressees $0
Loans to individuals $2,669
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $2,669
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Gold Coast Bank had $349,236,000 of loans outstanding in 2021. $341,296,000 of loans were in real estate loans. $37,083,000 of loans were in development loans. $22,293,000 of loans were in multifamily mortgage loans. $191,065,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 71 $26,439 $372,380
Nonfarm, nonresidential loans - <$100k 3 $103 $34,333
Nonfarm, nonresidential loans - $100-250k 20 $3,106 $155,300
Nonfarm, nonresidential loans - $250k-1MM 48 $23,230 $483,958
Commercial & Industrial, US addressed loans - <$1MM 85 $13,959 $164,224
Commercial & Industrial, US addressed loans - <$100k 42 $1,213 $28,881
Commercial & Industrial, US addressed loans - $100-250k 17 $2,639 $155,235
Commercial & Industrial, US addressed loans - $250k-1MM 26 $10,107 $388,731