Gold Coast Federal Credit Union Mortgage Rates, Fees & Info

West Palm Beach, FL

LEI: 549300M9RHNQ4107R694

Tax ID: 59-0673306

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

Review & Overview

Gold Coast Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Gold Coast Federal Credit Union has a high proportion of conventional loans. Their top two markets are Miami and Port St. Lucie .

Gold Coast Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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	6.37%	4/22/24
30 Year Conventional Refi	6.40%	4/22/24
15 Year Conventional Purchase	5.68%	4/22/24
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.

Gold Coast Federal Credit Union Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$3,270,000

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	29	$2,355,000	$81,207	$722	4.64%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	13	$915,000	$70,385	$732	4.88%

Gold Coast Federal Credit Union's top markets include Miami and Port St. Lucie among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	42	$3,270,000	$77,857	$725	4.71%

For 2020, Gold Coast Federal Credit Union's most frequently originated type of loan was Conventional, with 42 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Improvement	34	$2,210,000	$65,000	$677	4.82%
Refi	6	$870,000	$145,000	$978	4.00%
Other	1	$125,000	$125,000	$878	6.25%
Cash Out Refi	1	$65,000	$65,000	$686	3.75%

For 2020, Gold Coast Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 34 originations. The 2nd most popular reason was Refi, with 6 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	26	$2,180,000	$83,846	$749	4.87%
10 Year	11	$685,000	$62,273	$667	4.55%
5 Year	3	$105,000	$35,000	$552	4.25%
20 Year	2	$300,000	$150,000	$989	4.38%

For 2020, Gold Coast Federal Credit Union's most frequently cited loan duration was 15 Year, with 26 originations. The 2nd most popular length was 10 Year, with 11 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	42	$3,270,000	$77,857

Gold Coast Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	19	$1,195,000	$62,895
3-4%	12	$1,250,000	$104,167
5-6%	7	$415,000	$59,286
6-7%	4	$410,000	$102,500

During 2020, Gold Coast Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	31	$1,715,000	$55,323	$642	4.76%
$100k-200k	11	$1,555,000	$141,364	$959	4.59%

2020 saw Gold Coast Federal Credit Union place emphasis on $100,000 or less loans with 31 originations, totaling $1,715,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	10	$800,000	$80,000	$725	4.93%
$75k-100k	10	$750,000	$75,000	$724	4.53%
$50k or less	9	$545,000	$60,556	$651	4.78%
$100k-150k	8	$690,000	$86,250	$755	4.53%
$50k-75k	5	$485,000	$97,000	$810	4.85%

Gold Coast Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $75k-100k, with 10 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	11	$815,000	$74,091	$692	4.50%
30-36%	6	$320,000	$53,333	$629	4.50%
37%	5	$505,000	$101,000	$871	5.00%
43%	4	$340,000	$85,000	$751	4.25%
<20%	3	$235,000	$78,333	$719	5.08%
38%	3	$355,000	$118,333	$848	5.42%
41%	2	$170,000	$85,000	$753	4.13%
44%	2	$120,000	$60,000	$673	5.00%
36%	2	$140,000	$70,000	$674	5.88%
45%	1	$125,000	$125,000	$990	4.00%
39%	1	$55,000	$55,000	$612	5.50%
40%	1	$65,000	$65,000	$668	4.25%
42%	1	$25,000	$25,000	$527	4.25%

Gold Coast Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 6 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	32	$2,500,000	$78,125	$727	4.71%
Black	9	$715,000	$79,444	$724	4.64%
Vietnamese	1	$55,000	$55,000	$661	5.50%

Approval Rates

Total approvals of all applications
77.89%

Gold Coast Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
47.62%

Gold Coast Federal 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	42	$3,270,000	$77,857

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	42	$3,270,000	$77,857

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	20	$1,490,000	$74,500	$697	5.01%
40-60%	5	$465,000	$93,000	$789	4.55%
60-80%	2	$230,000	$115,000	$857	3.88%
80-100%	3	$515,000	$171,667	$1,057	4.00%
Under 20%	12	$570,000	$47,500	$639	4.60%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
GOLD STAR MORTGAGE FINANCIAL	Conventional home mortgage	Trouble during payment process	1	50.0%
GOLD STAR MORTGAGE FINANCIAL	FHA mortgage	Closing on a mortgage	1	50.0%