Coastal Heritage Bank Mortgage Rates, Fees & Info

Weymouth, MA

LEI: 549300983ZYTJMCZTA21

Tax ID: 04-1852680

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Coastal Heritage Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Coastal Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Providence, Worcester, and Springfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Coastal Heritage Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Coastal Heritage 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 about average 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.

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    Originations

    145

    Origination Dollar Volume (All Markets)

    $67,475,000

    Awards

    Coastal Heritage Bank 30 Year Conventional Loans gold Coastal Heritage Bank 30 Year Conventional Loans silver Coastal Heritage Bank 30 Year Conventional Loans silver Coastal Heritage Bank 30 Year Conventional Loans gold
    Show all (4) awards

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 135 $64,545,000 $478,111 $2,826 4.40%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,930,000 $482,500 $3,689 5.09%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $470,000 $235,000 $0 6.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $425,000 $141,667 $1,788 5.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $1,768 4.00%
    Coastal Heritage Bank's top markets include Boston, Barnstable Town, Providence, Worcester, and Springfield among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

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

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $67,475,000 $465,345 $2,822 4.46%

    For 2018, Coastal Heritage Bank's most frequently originated type of loan was Conventional, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $39,655,000 $466,529 $2,879 4.57%
    Cash Out Refi 31 $13,765,000 $444,032 $2,843 3.84%
    Refi 24 $12,020,000 $500,833 $2,529 4.54%
    NA 3 $875,000 $291,667 $0 5.58%
    Home Improvement 2 $1,160,000 $580,000 $0 6.63%

    For 2018, Coastal Heritage Bank's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $35,200,000 $391,111 $2,475 4.04%
    15 Year 15 $7,175,000 $478,333 $2,579 4.05%
    Other 10 $11,040,000 $1,104,000 $0 6.28%
    1 Year 10 $4,170,000 $417,000 $0 6.55%
    10 Year 9 $3,795,000 $421,667 $2,011 5.18%
    30+ year 8 $4,730,000 $591,250 $7,392 4.59%
    20 Year 3 $1,365,000 $455,000 $2,140 3.71%

    For 2018, Coastal Heritage Bank's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 104 $41,500,000 $399,038
    $2k-3k 4 $1,510,000 $377,500
    $1k-2k 2 $520,000 $260,000
    $4k-5k 1 $795,000 $795,000
    $5k+ 1 $1,905,000 $1,905,000

    Coastal Heritage Bank's average total fees were $2,475, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 57 $23,265,000 $408,158
    4-5% 49 $17,445,000 $356,020
    6-7% 18 $11,310,000 $628,333
    5-6% 14 $11,160,000 $797,143
    2.5-3% 7 $4,295,000 $613,571

    During 2018, Coastal Heritage Bank's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 3-4%, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 67 $20,105,000 $300,075 $2,449 4.43%
    $600k-1MM 25 $18,905,000 $756,200 $3,722 4.26%
    $400k-600k 24 $11,970,000 $498,750 $2,856 4.08%
    $100k-200k 18 $2,870,000 $159,444 $1,779 4.72%
    $1MM+ 8 $13,420,000 $1,677,500 $11,348 5.73%
    $100,000 or less 3 $205,000 $68,333 $1,774 4.96%

    2018 saw Coastal Heritage Bank place emphasis on $200k-400k loans with 67 originations, totaling $20,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 33 $17,005,000 $515,303 $3,265 3.86%
    $100k-150k 28 $8,460,000 $302,143 $2,617 4.07%
    $250k+ 19 $13,125,000 $690,789 $3,975 3.84%
    $75k-100k 13 $3,385,000 $260,385 $2,106 4.27%
    $50k-75k 12 $2,480,000 $206,667 $1,893 4.03%
    $50k or less 5 $975,000 $195,000 $2,091 5.23%

    Coastal Heritage Bank lent most frequently to those with incomes in the $150k-250k range, with 33 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $16,310,000 $388,333 $2,585 4.00%
    30-36% 24 $10,000,000 $416,667 $2,725 4.04%
    40% 8 $2,150,000 $268,750 $2,069 4.28%
    36% 8 $3,460,000 $432,500 $3,320 3.97%
    <20% 5 $3,565,000 $713,000 $7,214 4.68%
    41% 5 $1,935,000 $387,000 $2,263 3.70%
    42% 5 $2,255,000 $451,000 $2,846 3.85%
    39% 3 $1,065,000 $355,000 $2,094 3.58%
    37% 2 $580,000 $290,000 $2,253 4.44%
    44% 2 $1,050,000 $525,000 $2,617 3.50%
    46% 2 $810,000 $405,000 $4,430 3.88%
    38% 1 $215,000 $215,000 $1,899 4.00%
    45% 1 $395,000 $395,000 $2,533 3.88%
    50-60% 1 $995,000 $995,000 $4,388 4.50%
    48% 1 $195,000 $195,000 $2,036 3.75%
    49% 1 $315,000 $315,000 $2,476 3.88%
    >60% 1 $1,005,000 $1,005,000 $4,396 3.38%
    43% 1 $255,000 $255,000 $2,028 4.63%

    Coastal Heritage Bank lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $45,480,000 $413,455 $2,836 4.04%
    Not applicable 30 $20,330,000 $677,667 $0 6.01%
    Asian 3 $1,305,000 $435,000 $2,615 3.83%
    Not provided 2 $360,000 $180,000 $2,019 5.25%

    Approval Rates

    Total approvals of all applications
    94.24%

    Coastal Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.41%

    Coastal Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 145 $67,475,000 $465,345

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $8,200,000 $1,366,667
    Single Family (1-4 Units):Site-Built 139 $59,275,000 $426,439

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $2,585,000 $369,286 $3,113 4.21%
    40-60% 25 $11,335,000 $453,400 $2,479 4.35%
    60-80% 80 $43,040,000 $538,000 $3,282 4.65%
    80-100% 30 $10,270,000 $342,333 $2,225 4.07%
    Under 20% 3 $245,000 $81,667 $1,932 4.71%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Castle and Cookie Mortgage LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Castle and Cookie Mortgage LLC FHA mortgage Closing on a mortgage 1 50.0%