Coastal Community And Teachers Credit Union Mortgage Rates, Fees & Info
Corpus Christi, TXLEI: 549300ABHFY5HY2P3871
Tax ID: 74-1505143
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Mortgage Data
Review & Overview
Coastal Community And Teachers Credit Union is a smaller credit union specializing in Refi loans. Coastal Community And Teachers Credit Union has a high proportion of conventional loans. Their top two markets are Corpus Christi and Kingsville .Coastal Community And Teachers Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Coastal Community And Teachers Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.68% | 11/21/24 |
| 15 Year Conventional Refi | 6.25% | 11/21/24 |
| 15 Year Cash-out Refi | 6.25% | 11/21/24 |
| 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 Community And Teachers Credit Union Mortgage Calculator
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Originations
27Origination Dollar Volume (All Markets)
$2,215,000Top 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 |
|---|---|---|---|---|---|
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 25 | $1,935,000 | $77,400 | $1,004 | 4.52% |
| Kingsville, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,178 | 5.00% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $1,462 | 10.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $2,215,000 | $82,037 | $1,102 | 4.74% |
For 2020, Coastal Community And Teachers Credit Union's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 17 | $1,795,000 | $105,588 | $1,409 | 4.59% |
| Home Improvement | 10 | $420,000 | $42,000 | $580 | 5.00% |
For 2020, Coastal Community And Teachers Credit Union's most frequently cited loan purpose was Refi, with 17 originations. The 2nd most popular reason was Home Improvement, with 10 originations.
Loan Duration/Length
For 2020, Coastal Community And Teachers Credit Union's most frequently cited loan duration was Other, with 11 originations. The 2nd most popular length was 20 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 20 | $870,000 | $43,500 |
| $1k-2k | 5 | $745,000 | $149,000 |
| $2k-3k | 1 | $225,000 | $225,000 |
| $3k-4k | 1 | $375,000 | $375,000 |
Coastal Community And Teachers Credit Union's average total fees were $2,868, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 20 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 14 | $1,390,000 | $99,286 |
| 2.5-3% | 7 | $285,000 | $40,714 |
| 5-6% | 4 | $460,000 | $115,000 |
| Over 8% | 2 | $80,000 | $40,000 |
During 2020, Coastal Community And Teachers Credit Union's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.
Loan Sizing
2020 saw Coastal Community And Teachers Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $870,000 in origination value.
Applicant Income
Coastal Community And Teachers Credit Union lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
Coastal Community And Teachers Credit Union lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.92%
Coastal Community And Teachers Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination66.67%
Coastal Community And Teachers Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 27 | $2,215,000 | $82,037 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 27 | $2,215,000 | $82,037 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Castle Credit Co Holdings, LLC, Chicago, IL Branch | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |