Coastalstates Mortgage Rates, Fees & Info
Hilton Head Island, SCLEI: 549300DC5T16PY5CHJ27
Tax ID: 57-0761331
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Mortgage Data
Review & Overview
Coastalstates Mortgage is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Coastalstates Mortgage has a high proportion of conventional loans. Their top two markets are Hilton Head Island and Atlanta .Coastalstates Mortgage has a below average approval rate when compared to the average across all lenders. Coastalstates Mortgage 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.
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Originations
3Origination Dollar Volume (All Markets)
$1,595,000Top 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 |
|---|---|---|---|---|---|
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $3,307 | 4.25% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,052 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against CoastalStates Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3 | $1,595,000 | $531,667 | $3,555 | 4.67% |
For 2018, Coastalstates Mortgage's most frequently originated type of loan was Conventional, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 2 | $1,200,000 | $600,000 | $3,307 | 4.25% |
| Refi | 1 | $395,000 | $395,000 | $4,052 | 5.50% |
For 2018, Coastalstates Mortgage's most frequently cited loan purpose was Cash Out Refi, with 2 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2 | $1,390,000 | $695,000 | $4,025 | 4.69% |
| 20 Year | 1 | $205,000 | $205,000 | $2,615 | 4.63% |
For 2018, Coastalstates Mortgage's most frequently cited loan duration was 30 Year, with 2 originations. The 2nd most popular length was 20 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $1,200,000 | $600,000 |
| $1k-2k | 1 | $395,000 | $395,000 |
Coastalstates Mortgage's average total fees were $4,025, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $995,000 | $995,000 |
| 4-5% | 1 | $205,000 | $205,000 |
| 5-6% | 1 | $395,000 | $395,000 |
During 2018, Coastalstates Mortgage's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 2 | $600,000 | $300,000 | $3,333 | 5.06% |
| $600k-1MM | 1 | $995,000 | $995,000 | $3,999 | 3.88% |
2018 saw Coastalstates Mortgage place emphasis on $200k-400k loans with 2 originations, totaling $600,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 2 | $1,390,000 | $695,000 | $4,025 | 4.69% |
| $100k-150k | 1 | $205,000 | $205,000 | $2,615 | 4.63% |
Coastalstates Mortgage lent most frequently to those with incomes in the $250k+ range, with 2 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $995,000 | $995,000 | $3,999 | 3.88% |
| 37% | 1 | $395,000 | $395,000 | $4,052 | 5.50% |
| 42% | 1 | $205,000 | $205,000 | $2,615 | 4.63% |
Coastalstates Mortgage lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $1,595,000 | $531,667 | $3,555 | 4.67% |
Approval Rates
Total approvals of all applications42.86%
Coastalstates Mortgage has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3 | $1,595,000 | $531,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 3 | $1,595,000 | $531,667 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 1 | $995,000 | $995,000 | $3,999 | 3.88% |
| 60-80% | 2 | $600,000 | $300,000 | $3,333 | 5.06% |
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% |