Gold Coast Federal Credit Union Mortgage Rates, Fees & Info
West Palm Beach, FLLEI: 549300M9RHNQ4107R694
Tax ID: 59-0673306
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Mortgage Data
Review & Overview
Gold Coast Federal Credit Union is a smaller credit union specializing in Home Improvement 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. Gold Coast Federal 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.37% | 12/17/24 |
| 30 Year Conventional Refi | 6.40% | 12/17/24 |
| 15 Year Conventional Purchase | 5.68% | 12/17/24 |
| 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
53Origination Dollar Volume (All Markets)
$3,975,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 34 | $2,680,000 | $78,824 | $454 | 4.40% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 19 | $1,295,000 | $68,158 | $179 | 4.72% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $3,975,000 | $75,000 | $355 | 4.52% |
For 2022, Gold Coast Federal Credit Union's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2022, Gold Coast Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 47 originations. The 2nd most popular reason was Other, with 2 originations.
Loan Duration/Length
For 2022, Gold Coast Federal Credit Union's most frequently cited loan duration was 15 Year, with 40 originations. The 2nd most popular length was 10 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 52 | $3,850,000 | $74,038 |
| $2k-3k | 1 | $125,000 | $125,000 |
Gold Coast Federal Credit Union's average total fees were $4,388, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 31 | $2,205,000 | $71,129 |
| 3-4% | 13 | $1,095,000 | $84,231 |
| 5-6% | 8 | $620,000 | $77,500 |
| 6-7% | 1 | $55,000 | $55,000 |
During 2022, Gold Coast Federal Credit Union's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 4-5%, with 31 originations.
Loan Sizing
2022 saw Gold Coast Federal Credit Union place emphasis on $100,000 or less loans with 41 originations, totaling $2,245,000 in origination value.
Applicant Income
Gold Coast Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
Gold Coast Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.81%
Gold Coast Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination84.91%
Gold Coast Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $3,975,000 | $75,000 |