Coastal Federal Credit Union Mortgage Rates, Fees & Info
Raleigh, NCLEI: 549300MRP46SVQMWOE81
Tax ID: 56-0904243
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Coastal Federal Credit Union is a small credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Coastal Federal Credit Union has a high proportion of conventional loans. Their top markets include Raleigh, Durham, Charlotte, Myrtle Beach, and Fayetteville among others. Coastal Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Coastal Federal Credit Union is typically a low fee lendor.Originations
5,808Origination Dollar Volume (All Markets)
$1,063,030,000Awards
COASTAL Federal Credit Union - 2021
COASTAL Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Coastal Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.16%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.01%.
Relative Fees
Coastal Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,191.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3,839 | $688,175,000 | $179,259 | $2,551 | 3.85% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 962 | $180,100,000 | $187,214 | $2,707 | 3.68% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 256 | $38,850,000 | $151,758 | $1,943 | 4.36% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 48 | $14,030,000 | $292,292 | $3,395 | 3.54% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 79 | $13,925,000 | $176,266 | $2,819 | 4.05% |
| BURLINGTON, NC (FHA|USDA|VA) | 58 | $11,150,000 | $192,241 | $2,896 | 3.77% |
| Morehead City, NC (FHA|USDA|VA) | 37 | $11,065,000 | $299,054 | $3,110 | 3.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 46 | $10,300,000 | $223,913 | $2,956 | 4.10% |
| Outside of Metro Areas | 43 | $9,995,000 | $232,442 | $3,320 | 3.50% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 62 | $8,190,000 | $132,097 | $2,535 | 3.77% |
| ASHEVILLE, NC (FHA|USDA|VA) | 27 | $7,265,000 | $269,074 | $3,350 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 46 | $6,880,000 | $149,565 | $2,992 | 3.52% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 31 | $5,955,000 | $192,097 | $2,286 | 4.27% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $4,805,000 | $4,805,000 | $0 | 3.50% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 23 | $4,385,000 | $190,652 | $3,097 | 3.72% |
| Boone, NC (FHA|USDA|VA) | 16 | $3,650,000 | $228,125 | $3,075 | 3.31% |
| Sanford, NC (FHA|USDA|VA) | 29 | $3,395,000 | $117,069 | $2,147 | 3.85% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $3,290,000 | $411,250 | $2,583 | 3.80% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 8 | $2,980,000 | $372,500 | $4,849 | 3.08% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 10 | $2,960,000 | $296,000 | $5,093 | 3.62% |
| Wilson, NC (FHA|USDA|VA) | 28 | $2,890,000 | $103,214 | $2,334 | 4.12% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 7 | $2,785,000 | $397,857 | $3,439 | 4.47% |
| Henderson, NC (FHA|USDA|VA) | 18 | $2,690,000 | $149,444 | $2,736 | 4.29% |
| GREENVILLE, NC (FHA|USDA|VA) | 17 | $2,565,000 | $150,882 | $2,451 | 3.36% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 12 | $2,320,000 | $193,333 | $3,299 | 3.19% |
| Marion, NC (FHA|USDA|VA) | 7 | $1,955,000 | $279,286 | $3,608 | 3.49% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 8 | $1,860,000 | $232,500 | $2,673 | 3.74% |
| Cullowhee, NC (FHA|USDA|VA) | 2 | $1,720,000 | $860,000 | $6,081 | 3.25% |
| NEW BERN, NC (FHA|USDA|VA) | 9 | $1,575,000 | $175,000 | $2,756 | 3.56% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 9 | $1,305,000 | $145,000 | $2,015 | 4.02% |
| Laurinburg, NC (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $2,885 | 3.13% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,771 | 2.94% |
| Elizabeth City, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $3,712 | 2.46% |
| Forest City, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $3,936 | 3.50% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,609 | 2.81% |
| COLUMBIA, SC (FHA|USDA|VA) | 5 | $675,000 | $135,000 | $2,160 | 3.84% |
| Kinston, NC (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $2,522 | 5.01% |
| Shelby, NC (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $2,348 | 2.54% |
| GOLDSBORO, NC (FHA|USDA|VA) | 6 | $530,000 | $88,333 | $2,353 | 3.48% |
| North Wilkesboro, NC (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,452 | 3.88% |
| Albemarle, NC (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,353 | 3.83% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,213 | 3.19% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,401 | 2.75% |
| Brevard, NC (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,562 | 2.75% |
| Seneca, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,980 | 3.25% |
| Rockingham, NC (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $1,850 | 4.72% |
| Washington, NC (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $2,552 | 2.88% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,100 | 3.13% |
| Danville, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,724 | 4.38% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,382 | 2.50% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,567 | 2.38% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 4.90% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.55% |
| Bennettsville, SC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,140 | 3.13% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 7.38% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.00% |
Coastal Federal Credit Union's top markets include Raleigh, Durham, Charlotte, Myrtle Beach, and Fayetteville among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 5,808 | $1,063,030,000 | $183,029 | $2,613 | 3.84% |
For the 2021 period, Coastal Federal Credit Union's most frequently originated loan type of loans were Conventional, with 5,808 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,496 | $310,950,000 | $207,854 | $2,598 | 3.14% |
| Home Improvement | 1,267 | $101,275,000 | $79,933 | $124 | 4.68% |
| Other | 1,192 | $115,770,000 | $97,122 | $688 | 4.86% |
| Home Purchase | 934 | $306,570,000 | $328,233 | $3,661 | 3.25% |
| Cash Out Refi | 919 | $228,465,000 | $248,602 | $3,064 | 3.08% |
For the 2021, Coastal Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 1,496 originations. The 2nd most popular reason of loans were Home Improvement, with 1,267 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 2,601 | $278,765,000 | $107,176 | $1,727 | 4.57% |
| 30 Year | 1,904 | $549,850,000 | $288,787 | $3,191 | 3.16% |
| 15 Year | 827 | $146,335,000 | $176,947 | $2,243 | 3.18% |
| 10 Year | 294 | $34,600,000 | $117,687 | $1,248 | 3.68% |
| 5 Year | 82 | $2,800,000 | $34,146 | $11 | 4.34% |
| 30+ year | 80 | $43,770,000 | $547,125 | $5,515 | 3.11% |
| Other | 20 | $6,910,000 | $345,500 | $2,687 | 3.40% |
For the 2021, Coastal Federal Credit Union's most frequently cited loan length of loans were 20 Year, with 2,601 originations. The 2nd most popular length of loans were 30 Year, with 1,904 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2,468 | $548,930,000 | $222,419 |
| $1k-2k | 616 | $148,850,000 | $241,640 |
| $2k-3k | 267 | $74,055,000 | $277,360 |
| $3k-4k | 191 | $59,145,000 | $309,660 |
| $5k+ | 73 | $21,605,000 | $295,959 |
$3,191 of loans were Coastal Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,468 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,944 | $410,540,000 | $211,183 |
| 2.5-3% | 1,356 | $364,710,000 | $268,960 |
| 4-5% | 1,029 | $96,445,000 | $93,727 |
| <2.5% | 573 | $116,225,000 | $202,836 |
| 5-6% | 551 | $47,955,000 | $87,033 |
| 6-7% | 227 | $18,495,000 | $81,476 |
| 7-8% | 67 | $4,475,000 | $66,791 |
| Over 8% | 61 | $4,185,000 | $68,607 |
During 2021, Coastal Federal Credit Union's average interest rate of loans were 3.16%, while their most frequently originated rate bucket of loans were 3-4%, with 1,944 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1,999 | $109,265,000 | $54,660 | $586 | 4.70% |
| $100k-200k | 1,709 | $245,755,000 | $143,800 | $2,435 | 3.65% |
| $200k-400k | 1,659 | $451,645,000 | $272,239 | $3,255 | 3.21% |
| $400k-600k | 305 | $147,955,000 | $485,098 | $3,790 | 3.05% |
| $600k-1MM | 119 | $84,935,000 | $713,739 | $3,653 | 3.04% |
| $1MM+ | 17 | $23,475,000 | $1,380,882 | $5,986 | 3.06% |
2021 saw Coastal Federal Credit Union place emphasis on $100,000 or less loans with 1,999 originations, totaling $109,265,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1,648 | $287,320,000 | $174,345 | $2,622 | 3.94% |
| $150k-250k | 1,363 | $286,825,000 | $210,437 | $2,584 | 4.01% |
| $50k-75k | 946 | $137,870,000 | $145,740 | $2,558 | 3.63% |
| $75k-100k | 924 | $148,830,000 | $161,071 | $2,651 | 3.75% |
| $250k+ | 431 | $132,855,000 | $308,248 | $3,084 | 4.03% |
| $50k or less | 406 | $46,410,000 | $114,310 | $2,314 | 3.43% |
Coastal Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,648 originations. The second most popular income band? $150k-250k, with 1,363 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,579 | $306,975,000 | $194,411 | $2,697 | 3.58% |
| 30-36% | 1,041 | $198,965,000 | $191,129 | $2,758 | 3.84% |
| <20% | 743 | $138,855,000 | $186,884 | $2,697 | 3.18% |
| 50-60% | 278 | $24,170,000 | $86,942 | $572 | 4.50% |
| 37% | 184 | $39,270,000 | $213,424 | $2,768 | 3.83% |
| 41% | 181 | $34,565,000 | $190,967 | $2,701 | 3.97% |
| 38% | 174 | $35,310,000 | $202,931 | $2,843 | 3.77% |
| 42% | 171 | $35,475,000 | $207,456 | $2,742 | 3.99% |
| 43% | 159 | $30,895,000 | $194,308 | $2,574 | 3.99% |
| 39% | 158 | $31,030,000 | $196,392 | $2,712 | 4.07% |
| 36% | 154 | $27,360,000 | $177,662 | $2,412 | 4.07% |
| 40% | 154 | $30,210,000 | $196,169 | $2,682 | 3.92% |
| 49% | 144 | $18,830,000 | $130,764 | $1,973 | 4.88% |
| 47% | 142 | $21,140,000 | $148,873 | $1,932 | 4.59% |
| 44% | 138 | $22,960,000 | $166,377 | $2,391 | 4.20% |
| 46% | 125 | $19,275,000 | $154,200 | $1,976 | 4.51% |
| 45% | 124 | $19,150,000 | $154,435 | $2,424 | 4.36% |
| 48% | 120 | $16,420,000 | $136,833 | $1,802 | 4.58% |
| >60% | 24 | $2,060,000 | $85,833 | $1,142 | 3.87% |
Coastal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,579 originations. The next most common DTI ratio? 30-36%, with 1,041 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,098 | $756,750,000 | $184,663 | $2,627 | 3.80% |
| Not provided | 889 | $151,595,000 | $170,523 | $2,464 | 3.97% |
| Black | 503 | $87,905,000 | $174,761 | $2,737 | 3.87% |
| Asian | 196 | $36,000,000 | $183,673 | $2,521 | 4.04% |
| Not applicable | 14 | $9,990,000 | $713,571 | $0 | 3.87% |
| Asian Indian | 38 | $9,360,000 | $246,316 | $2,821 | 3.25% |
| American Indian | 40 | $5,860,000 | $146,500 | $2,326 | 4.07% |
| Other Asian | 12 | $2,370,000 | $197,500 | $3,100 | 3.34% |
| Filipino | 6 | $1,340,000 | $223,333 | $2,866 | 3.76% |
| Chinese | 3 | $505,000 | $168,333 | $1,771 | 3.63% |
| Other Pacific Islander | 2 | $480,000 | $240,000 | $2,654 | 3.94% |
| Japanese | 2 | $340,000 | $170,000 | $4,035 | 2.50% |
| Vietnamese | 3 | $295,000 | $98,333 | $3,191 | 3.42% |
| Korean | 1 | $225,000 | $225,000 | $2,835 | 2.88% |
| Native Hawaiian | 1 | $15,000 | $15,000 | $0 | 4.80% |
Approval Rates
Total approvals of all applications82.80%
Coastal Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination77.05%
Coastal Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,808 | $1,063,030,000 | $183,029 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,808 | $1,063,030,000 | $183,029 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 1,188 | $146,340,000 | $123,182 | $1,536 | 4.33% |
| 40-60% | 857 | $173,755,000 | $202,748 | $2,685 | 3.05% |
| 60-80% | 1,290 | $380,170,000 | $294,705 | $3,194 | 3.06% |
| 80-100% | 813 | $268,235,000 | $329,932 | $3,633 | 3.24% |
| Over 100% | 1 | $695,000 | $695,000 | $0 | 3.25% |
| Under 20% | 1,659 | $93,835,000 | $56,561 | $134 | 4.78% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Coastal Credit, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Coastal Credit, LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
