Gulf Coast Mortgage Rates, Fees & Info
Corpus Christi, TXLEI: 549300HMP6CQXPB0L958
Tax ID: 74-1109898
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Mortgage Data
Review & Overview
Gulf Coast is a smaller mortgage company specializing in Refi and Home Purchase loans. Gulf Coast has a high proportion of conventional loans. Their top markets by origination volume include: Corpus Christi, Alice, Houston, and Beeville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Gulf Coast has a below average approval rate when compared to the average across all lenders. Gulf Coast 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.11% | 4/28/24 |
| 30 Year Conventional Refi | 5.12% | 4/28/24 |
| 30 Year Cash-out Refi | 5.96% | 4/28/24 |
| 15 Year Conventional Purchase | 4.42% | 4/28/24 |
| 15 Year Conventional Refi | 4.78% | 4/28/24 |
| 15 Year Cash-out Refi | 4.78% | 4/28/24 |
| 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. | ||
Gulf Coast Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
25Origination Dollar Volume (All Markets)
$2,205,000Top 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) | 19 | $1,645,000 | $86,579 | $1,120 | 5.04% |
| Alice, TX (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $913 | 4.31% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.25% |
| Beeville, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $315 | 5.95% |
Similar Lenders
We use machine learning to identify the top lenders compared against GULF COAST 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 | 25 | $2,205,000 | $88,200 | $1,059 | 4.89% |
For 2018, Gulf Coast's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
For 2018, Gulf Coast's most frequently cited loan purpose was Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 5 originations.
Loan Duration/Length
For 2018, Gulf Coast's most frequently cited loan duration was 10 Year, with 10 originations. The 2nd most popular length was 20 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $1,340,000 | $74,444 |
| $1k-2k | 7 | $865,000 | $123,571 |
Gulf Coast's average total fees were $2,977, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 10 | $630,000 | $63,000 |
| 4-5% | 9 | $985,000 | $109,444 |
| 5-6% | 2 | $130,000 | $65,000 |
| 7-8% | 2 | $110,000 | $55,000 |
| 6-7% | 1 | $45,000 | $45,000 |
| Over 8% | 1 | $305,000 | $305,000 |
During 2018, Gulf Coast's average interest rate for loans was 5.31%, while their most frequently originated rate bucket for loans was 3-4%, with 10 originations.
Loan Sizing
2018 saw Gulf Coast place emphasis on $100,000 or less loans with 17 originations, totaling $925,000 in origination value.
Applicant Income
Gulf Coast lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Gulf Coast lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications53.19%
Gulf Coast 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 | 25 | $2,205,000 | $88,200 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 25 | $2,205,000 | $88,200 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Gulf Coast Real Estate Emerald Coast, LLC, d/b/a Motto Mortgage On The Gulf | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |