Coastal Federal Credit Union Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300MRP46SVQMWOE81

Tax ID: 56-0904243

5 stars - Updated: 6/9/24 - out of 5 stars, based on 60 reviews

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

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Mortgage Data

Review & Overview

Coastal Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Coastal Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Durham, Charlotte, Wilmington, and Fayetteville among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.60% 6/9/24
30 Year Conventional Refi 6.36% 6/9/24
30 Year Cash-out Refi 6.42% 6/9/24
15 Year Conventional Purchase 6.10% 6/9/24
15 Year Conventional Refi 6.06% 6/9/24
15 Year Cash-out Refi 6.06% 6/9/24
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.

Coastal Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Coastal Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


Originations

3,639

Origination Dollar Volume (All Markets)

$676,905,000
Show all (9) awards

Relative Rate

Coastal Federal Credit Union's average 30 year fixed mortgage rate was 6.32%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.16%.

Relative Fees (Closing Costs)

Coastal Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,174.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
RALEIGH-CARY, NC (FHA|USDA|VA) 2,308 $402,800,000 $174,523 $2,287 8.43%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 532 $103,540,000 $194,624 $2,622 8.20%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 166 $30,560,000 $184,096 $2,628 8.84%
WILMINGTON, NC (FHA|USDA|VA) 53 $14,565,000 $274,811 $3,602 7.43%
FAYETTEVILLE, NC (FHA|USDA|VA) 84 $14,140,000 $168,333 $3,388 8.51%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 47 $13,455,000 $286,277 $3,798 7.39%
Outside of Metro Areas 42 $11,860,000 $282,381 $3,798 7.22%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 46 $9,210,000 $200,217 $2,647 8.59%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 24 $8,990,000 $374,583 $4,465 7.73%
BURLINGTON, NC (FHA|USDA|VA) 42 $8,140,000 $193,810 $3,567 8.04%
Morehead City, NC (FHA|USDA|VA) 16 $6,460,000 $403,750 $4,705 7.26%
ASHEVILLE, NC (FHA|USDA|VA) 22 $5,680,000 $258,182 $4,465 7.78%
JACKSONVILLE, NC (FHA|USDA|VA) 17 $5,375,000 $316,176 $3,452 7.73%
WINSTON-SALEM, NC (FHA|USDA|VA) 25 $5,305,000 $212,200 $2,839 7.89%
ROCKY MOUNT, NC (FHA|USDA|VA) 42 $4,440,000 $105,714 $1,637 8.73%
Sanford, NC (FHA|USDA|VA) 30 $3,880,000 $129,333 $2,699 8.68%
Boone, NC (FHA|USDA|VA) 8 $3,550,000 $443,750 $3,012 6.78%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 11 $3,255,000 $295,909 $4,037 8.02%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $2,235,000 $745,000 $3,369 6.78%
NEW BERN, NC (FHA|USDA|VA) 8 $1,760,000 $220,000 $2,125 8.09%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $1,685,000 $337,000 $3,146 7.55%
GREENVILLE, NC (FHA|USDA|VA) 17 $1,665,000 $97,941 $1,499 8.95%
Henderson, NC (FHA|USDA|VA) 15 $1,425,000 $95,000 $2,015 8.42%
Kill Devil Hills, NC (FHA|USDA|VA) 4 $1,370,000 $342,500 $5,185 7.70%
Wilson, NC (FHA|USDA|VA) 10 $1,270,000 $127,000 $1,329 8.75%
Cullowhee, NC (FHA|USDA|VA) 3 $1,065,000 $355,000 $3,419 6.75%
Roanoke Rapids, NC (FHA|USDA|VA) 2 $930,000 $465,000 $6,994 7.31%
GOLDSBORO, NC (FHA|USDA|VA) 9 $875,000 $97,222 $2,208 9.24%
Forest City, NC (FHA|USDA|VA) 4 $860,000 $215,000 $2,112 6.91%
ROANOKE, VA (FHA|USDA|VA) 2 $830,000 $415,000 $5,489 6.44%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $800,000 $133,333 $3,129 8.62%
Shelby, NC (FHA|USDA|VA) 3 $705,000 $235,000 $2,273 9.73%
Kinston, NC (FHA|USDA|VA) 3 $565,000 $188,333 $3,781 6.71%
Washington, NC (FHA|USDA|VA) 2 $550,000 $275,000 $4,281 6.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $530,000 $132,500 $2,145 7.75%
Albemarle, NC (FHA|USDA|VA) 5 $475,000 $95,000 $2,029 7.98%
LYNCHBURG, VA (FHA|USDA|VA) 1 $325,000 $325,000 $3,274 6.00%
COLUMBIA, SC (FHA|USDA|VA) 2 $300,000 $150,000 $2,975 6.50%
Brevard, NC (FHA|USDA|VA) 1 $285,000 $285,000 $3,348 6.00%
SPARTANBURG, SC (FHA|USDA|VA) 2 $240,000 $120,000 $3,559 8.21%
North Wilkesboro, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,320 7.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $155,000 $155,000 $2,927 7.00%
Danville, VA (FHA|USDA|VA) 1 $155,000 $155,000 $2,738 6.13%
Elizabeth City, NC (FHA|USDA|VA) 3 $125,000 $41,667 $0 9.53%
Marion, NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 11.05%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.00%
Gaffney, SC (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.25%
Georgetown, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.00%
RICHMOND, VA (FHA|USDA|VA) 1 $25,000 $25,000 $128 8.70%
Mount Airy, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.50%
Coastal Federal Credit Union's top markets include Raleigh, Durham, Charlotte, Wilmington, and Fayetteville among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against COASTAL Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SCIENT Federal Credit Union
    Similarity Rank: 110
    Telco Community Credit Union
    Similarity Rank: 288
    Champion Credit Union
    Similarity Rank: 306
    Piedmont Federal Savings Bank
    Similarity Rank: 720
    Anderson Brothers Bank
    Similarity Rank: 1320
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1377
    Coastal Carolina National Bank
    Similarity Rank: 1880
    South Atlantic Bank
    Similarity Rank: 1965

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,930 $205,770,000 $106,617 n/a 9.23%
    Conventional 1,709 $471,135,000 $275,679 $2,572 7.34%

    For 2023, Coastal Federal Credit Union's most frequently originated type of loan was HELOC, with 1,930 originations. Their 2nd most popular type was Conventional, with 1,709 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,122 $108,720,000 $96,898 $57 9.00%
    Other 1,077 $94,995,000 $88,203 $37 9.24%
    Home Purchase 873 $354,805,000 $406,420 $4,304 6.51%
    Refi 471 $91,835,000 $194,979 $2,589 8.54%
    Cash Out Refi 96 $26,550,000 $276,563 $3,315 6.25%

    For 2023, Coastal Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 1,122 originations. The 2nd most popular reason was Other, with 1,077 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 2,226 $240,290,000 $107,947 $320 9.20%
    30 Year 861 $341,835,000 $397,021 $4,174 6.32%
    10 Year 192 $10,340,000 $53,854 $78 8.43%
    15 Year 183 $14,325,000 $78,279 $619 8.46%
    5 Year 88 $14,880,000 $169,091 $30 7.95%
    30+ year 87 $55,095,000 $633,276 $6,346 6.38%
    Other 2 $140,000 $70,000 $260 8.23%

    For 2023, Coastal Federal Credit Union's most frequently cited loan duration was 20 Year, with 2,226 originations. The 2nd most popular length was 30 Year, with 861 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,202 $262,380,000 $218,286
    $2k-3k 181 $72,925,000 $402,901
    $1k-2k 138 $37,440,000 $271,304
    $3k-4k 100 $49,870,000 $498,700
    $5k+ 44 $23,060,000 $524,091
    $4k-5k 28 $12,860,000 $459,286

    Coastal Federal Credit Union's average total fees were $4,174, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,202 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 2,127 $215,755,000 $101,436
    7-8% 654 $99,940,000 $152,813
    5-6% 434 $190,670,000 $439,332
    6-7% 422 $169,950,000 $402,725
    4-5% 2 $590,000 $295,000

    During 2023, Coastal Federal Credit Union's average interest rate for loans was 6.32%, while their most frequently originated rate bucket for loans was Over 8%, with 2,127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,620 $89,680,000 $55,358 $152 9.04%
    $100k-200k 857 $116,455,000 $135,887 $1,681 8.87%
    $200k-400k 750 $208,900,000 $278,533 $3,908 7.41%
    $400k-600k 254 $122,230,000 $481,220 $4,835 6.19%
    $600k-1MM 126 $92,960,000 $737,778 $5,103 6.21%
    $1MM+ 32 $46,680,000 $1,458,750 $6,148 6.21%

    2023 saw Coastal Federal Credit Union place emphasis on $100,000 or less loans with 1,620 originations, totaling $89,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,063 $225,575,000 $212,206 $2,818 8.37%
    $100k-150k 980 $154,760,000 $157,918 $2,365 8.35%
    $75k-100k 549 $63,655,000 $115,947 $1,797 8.56%
    $250k+ 453 $170,775,000 $376,987 $4,211 7.89%
    $50k-75k 413 $36,785,000 $89,068 $1,622 8.56%
    $50k or less 129 $8,135,000 $63,062 $1,752 8.37%

    Coastal Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 1,063 originations. The second most popular income band? $100k-150k, with 980 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 681 $116,875,000 $171,623 $2,756 8.08%
    30-36% 605 $120,615,000 $199,364 $2,765 8.23%
    50-60% 332 $32,990,000 $99,367 $213 9.09%
    <20% 227 $33,295,000 $146,674 $2,451 7.92%
    49% 182 $22,840,000 $125,495 $1,529 9.15%
    43% 139 $28,215,000 $202,986 $2,411 8.41%
    41% 135 $33,615,000 $249,000 $2,922 7.97%
    46% 128 $22,580,000 $176,406 $2,237 8.71%
    48% 121 $18,115,000 $149,711 $1,651 8.85%
    37% 120 $29,210,000 $243,417 $3,250 8.20%
    39% 120 $24,610,000 $205,083 $2,648 8.17%
    42% 119 $31,325,000 $263,235 $3,673 8.00%
    40% 119 $25,535,000 $214,580 $2,552 8.20%
    44% 119 $31,405,000 $263,908 $3,451 8.09%
    47% 119 $17,235,000 $144,832 $1,464 8.99%
    36% 114 $25,560,000 $224,211 $2,958 8.12%
    45% 110 $24,360,000 $221,455 $3,276 8.41%
    38% 106 $23,610,000 $222,736 $2,950 8.13%
    >60% 27 $2,355,000 $87,222 $1,122 8.08%

    Coastal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 681 originations. The next most common DTI ratio? 30-36%, with 605 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,433 $428,715,000 $176,208 $2,432 8.32%
    Not provided 556 $98,890,000 $177,860 $2,680 8.50%
    Black 382 $61,780,000 $161,728 $2,621 8.59%
    Asian 164 $42,100,000 $256,707 $3,238 8.11%
    Asian Indian 44 $22,960,000 $521,818 $4,307 6.69%
    Not applicable 15 $12,525,000 $835,000 $0 6.63%
    American Indian 23 $5,435,000 $236,304 $2,537 8.89%
    Other Asian 5 $2,245,000 $449,000 $4,390 6.03%
    Other Pacific Islander 7 $895,000 $127,857 $2,261 9.40%
    Chinese 1 $725,000 $725,000 $4,877 6.00%
    Native Hawaiian or Islander 8 $540,000 $67,500 $0 8.68%
    Korean 1 $95,000 $95,000 $0 11.05%

    Approval Rates

    Total approvals of all applications
    66.96%

    Coastal Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    88.76%

    Coastal Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,639 $676,905,000 $186,014

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,639 $676,905,000 $186,014

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 933 $132,355,000 $141,860 $955 9.03%
    40-60% 231 $65,265,000 $282,532 $3,442 8.03%
    60-80% 318 $134,880,000 $424,151 $4,299 6.42%
    80-100% 530 $238,160,000 $449,358 $4,661 6.35%
    Over 100% 6 $2,100,000 $350,000 $5,290 6.92%
    Under 20% 1,621 $104,145,000 $64,247 $82 9.02%