Coastal Federal Credit Union Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300MRP46SVQMWOE81

Tax ID: 56-0904243

5 stars - out of 5 stars, based on 76 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Coastal Federal Credit Union is a small credit union specializing in loans. Coastal Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Durham, Charlotte, Wilmington, and Myrtle Beach among others. We have data for 56 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Coastal 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. 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 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.

    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% 3/27/23
    30 Year Conventional Purchase 6.60% 3/27/23
    30 Year Conventional Refi 6.36% 3/27/23
    30 Year Cash-out Refi 6.42% 3/27/23
    15 Year Conventional Purchase 6.10% 3/27/23
    15 Year Conventional Refi 6.06% 3/27/23
    15 Year Cash-out Refi 6.06% 3/27/23
    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.


    Originations

    5,735

    Origination Dollar Volume (All Markets)

    $1,085,855,000
    Show all (7) awards

    Relative Rate

    Coastal Federal Credit Union's average 30 year fixed mortgage rate was 4.36%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.4%.

    Relative Fees (Closing Costs)

    Coastal Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,450.

    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 $4,750.

    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) 3,792 $699,520,000 $184,473 $2,238 4.98%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 831 $160,745,000 $193,436 $2,355 5.03%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 260 $43,610,000 $167,731 $1,990 5.30%
    WILMINGTON, NC (FHA|USDA|VA) 72 $19,380,000 $269,167 $2,745 5.03%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 63 $19,335,000 $306,905 $3,514 4.76%
    Morehead City, NC (FHA|USDA|VA) 46 $18,100,000 $393,478 $3,949 4.63%
    FAYETTEVILLE, NC (FHA|USDA|VA) 106 $17,480,000 $164,906 $2,653 5.63%
    Outside of Metro Areas 56 $14,570,000 $260,179 $3,343 5.46%
    BURLINGTON, NC (FHA|USDA|VA) 57 $9,025,000 $158,333 $2,775 5.17%
    ASHEVILLE, NC (FHA|USDA|VA) 24 $8,350,000 $347,917 $4,292 4.79%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 53 $8,265,000 $155,943 $2,343 5.25%
    JACKSONVILLE, NC (FHA|USDA|VA) 17 $6,635,000 $390,294 $3,688 5.10%
    WINSTON-SALEM, NC (FHA|USDA|VA) 41 $6,625,000 $161,585 $1,931 5.43%
    ROCKY MOUNT, NC (FHA|USDA|VA) 58 $6,040,000 $104,138 $2,021 5.70%
    Sanford, NC (FHA|USDA|VA) 29 $4,815,000 $166,034 $2,776 5.36%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 18 $4,490,000 $249,444 $2,914 5.32%
    Boone, NC (FHA|USDA|VA) 11 $4,415,000 $401,364 $3,843 4.22%
    Wilson, NC (FHA|USDA|VA) 25 $3,425,000 $137,000 $2,051 5.46%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $2,810,000 $468,333 $2,825 4.38%
    Henderson, NC (FHA|USDA|VA) 25 $2,805,000 $112,200 $2,069 4.77%
    GOLDSBORO, NC (FHA|USDA|VA) 19 $2,225,000 $117,105 $1,752 5.46%
    GREENVILLE, NC (FHA|USDA|VA) 16 $2,150,000 $134,375 $2,190 5.45%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $1,975,000 $395,000 $3,641 4.65%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 17 $1,915,000 $112,647 $1,931 5.02%
    Kill Devil Hills, NC (FHA|USDA|VA) 8 $1,910,000 $238,750 $3,876 6.01%
    Roanoke Rapids, NC (FHA|USDA|VA) 9 $1,845,000 $205,000 $1,681 5.30%
    Albemarle, NC (FHA|USDA|VA) 5 $1,325,000 $265,000 $3,025 4.66%
    Washington, NC (FHA|USDA|VA) 5 $1,145,000 $229,000 $3,326 5.03%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $1,140,000 $570,000 $3,511 3.77%
    COLUMBIA, SC (FHA|USDA|VA) 4 $1,010,000 $252,500 $5,162 4.53%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $805,000 $268,333 $2,805 5.17%
    NEW BERN, NC (FHA|USDA|VA) 4 $800,000 $200,000 $1,916 6.09%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $780,000 $195,000 $3,240 5.48%
    Brevard, NC (FHA|USDA|VA) 2 $700,000 $350,000 $3,971 5.38%
    Kinston, NC (FHA|USDA|VA) 3 $685,000 $228,333 $1,781 6.06%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $645,000 $215,000 $0 4.93%
    RICHMOND, VA (FHA|USDA|VA) 4 $570,000 $142,500 $1,500 5.16%
    Forest City, NC (FHA|USDA|VA) 3 $465,000 $155,000 $1,386 6.04%
    Cullowhee, NC (FHA|USDA|VA) 2 $350,000 $175,000 $2,384 5.36%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $335,000 $335,000 $1,640 3.75%
    ROANOKE, VA (FHA|USDA|VA) 3 $335,000 $111,667 $2,197 3.96%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,817 4.13%
    Lumberton, NC (FHA|USDA|VA) 2 $260,000 $130,000 $1,730 5.61%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $225,000 $225,000 $2,376 5.88%
    Rockingham, NC (FHA|USDA|VA) 2 $210,000 $105,000 $0 6.53%
    Danville, VA (FHA|USDA|VA) 2 $210,000 $105,000 $4,869 3.69%
    SPARTANBURG, SC (FHA|USDA|VA) 4 $200,000 $50,000 $0 5.31%
    Mount Airy, NC (FHA|USDA|VA) 1 $195,000 $195,000 $3,048 5.38%
    Marion, NC (FHA|USDA|VA) 2 $180,000 $90,000 $0 5.38%
    FLORENCE, SC (FHA|USDA|VA) 2 $110,000 $55,000 $400 6.60%
    SUMTER, SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,447 3.38%
    Georgetown, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.00%
    Elizabeth City, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,678 3.38%
    Union, SC (FHA|USDA|VA) 1 $65,000 $65,000 $1,806 3.50%
    Martinsville, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.05%
    Shelby, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.74%
    Coastal Federal Credit Union's top markets include Raleigh, Durham, Charlotte, Wilmington, and Myrtle Beach among others.

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

    Piedmont Federal Savings Bank
    Similarity Rank: 544
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 624
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 700
    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 1050
    DUKE UNIVERSITY FEDERAL CREDIT UNION
    Similarity Rank: 1245
    Champion Credit Union
    Similarity Rank: 1485
    EXCITE Credit Union
    Similarity Rank: 1617
    Telco Community Credit Union
    Similarity Rank: 1791
    Countybank
    Similarity Rank: 2058
    Peoples Bank
    Similarity Rank: 2684

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,971 $334,865,000 $112,711 n/a 5.34%
    Conventional 2,764 $750,990,000 $271,704 $2,358 4.70%

    For 2022, Coastal Federal Credit Union's most frequently originated type of loan was HELOC, with 2,971 originations. Their 2nd most popular type was Conventional, with 2,764 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,850 $185,590,000 $100,319 $46 5.28%
    Other 1,519 $153,325,000 $100,938 $21 5.59%
    Home Purchase 1,141 $457,735,000 $401,170 $3,874 4.61%
    Refi 703 $141,125,000 $200,747 $2,342 4.81%
    Cash Out Refi 522 $148,080,000 $283,678 $2,971 3.80%

    For 2022, Coastal Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 1,850 originations. The 2nd most popular reason was Other, with 1,519 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 3,428 $395,180,000 $115,280 $432 5.39%
    30 Year 1,431 $525,885,000 $367,495 $3,450 4.36%
    15 Year 378 $49,330,000 $130,503 $1,229 4.70%
    10 Year 248 $18,330,000 $73,911 $282 4.97%
    30+ year 136 $90,520,000 $665,588 $6,179 4.40%
    5 Year 108 $4,340,000 $40,185 $9 4.94%
    Other 6 $2,270,000 $378,333 $0 5.43%

    For 2022, Coastal Federal Credit Union's most frequently cited loan duration was 20 Year, with 3,428 originations. The 2nd most popular length was 30 Year, with 1,431 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,120 $502,540,000 $237,047
    $1k-2k 281 $82,505,000 $293,612
    $2k-3k 196 $86,030,000 $438,929
    $3k-4k 79 $40,015,000 $506,519
    $5k+ 42 $17,460,000 $415,714
    $4k-5k 31 $19,015,000 $613,387

    Coastal Federal Credit Union's average total fees were $3,450, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,120 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,676 $352,030,000 $210,042
    3-4% 1,434 $309,960,000 $216,151
    5-6% 1,109 $194,535,000 $175,415
    6-7% 646 $94,800,000 $146,749
    7-8% 381 $38,045,000 $99,856
    Over 8% 234 $23,520,000 $100,513
    2.5-3% 198 $59,810,000 $302,071
    <2.5% 57 $13,155,000 $230,789

    During 2022, Coastal Federal Credit Union's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 1,676 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,203 $123,875,000 $56,230 $253 5.39%
    $100k-200k 1,556 $212,730,000 $136,716 $1,472 5.12%
    $200k-400k 1,349 $367,045,000 $272,087 $3,168 4.69%
    $400k-600k 374 $179,090,000 $478,850 $4,127 4.34%
    $600k-1MM 217 $159,425,000 $734,677 $4,490 4.28%
    $1MM+ 36 $43,690,000 $1,213,611 $6,798 4.27%

    2022 saw Coastal Federal Credit Union place emphasis on $100,000 or less loans with 2,203 originations, totaling $123,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 1,660 $361,020,000 $217,482 $2,424 5.10%
    $100k-150k 1,613 $279,065,000 $173,010 $2,203 4.98%
    $75k-100k 866 $120,240,000 $138,845 $2,086 5.08%
    $50k-75k 668 $80,310,000 $120,225 $2,065 5.03%
    $250k+ 613 $211,145,000 $344,445 $3,596 5.13%
    $50k or less 233 $20,325,000 $87,232 $2,097 4.69%

    Coastal Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 1,660 originations. The second most popular income band? $100k-150k, with 1,613 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,270 $239,700,000 $188,740 $2,350 4.76%
    30-36% 955 $205,555,000 $215,241 $2,656 4.87%
    <20% 439 $76,845,000 $175,046 $2,434 4.42%
    50-60% 419 $47,145,000 $112,518 $392 5.50%
    49% 257 $35,325,000 $137,451 $1,468 5.68%
    36% 202 $42,210,000 $208,960 $2,277 5.15%
    38% 201 $43,395,000 $215,896 $2,647 5.09%
    40% 199 $45,125,000 $226,759 $2,934 4.97%
    37% 191 $38,255,000 $200,288 $2,440 5.09%
    48% 190 $32,310,000 $170,053 $1,828 5.42%
    43% 185 $41,205,000 $222,730 $2,614 5.12%
    39% 184 $40,020,000 $217,500 $2,455 4.99%
    41% 176 $40,320,000 $229,091 $2,775 5.19%
    46% 169 $27,665,000 $163,698 $2,023 5.32%
    44% 163 $33,255,000 $204,018 $2,604 5.44%
    42% 160 $35,460,000 $221,625 $2,678 5.33%
    47% 159 $24,935,000 $156,824 $1,551 5.49%
    45% 152 $28,070,000 $184,671 $1,793 5.42%
    >60% 55 $6,015,000 $109,364 $332 4.75%

    Coastal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,270 originations. The next most common DTI ratio? 30-36%, with 955 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,883 $735,105,000 $189,314 $2,309 5.00%
    Not provided 957 $170,315,000 $177,968 $2,090 5.11%
    Black 566 $92,330,000 $163,127 $2,529 5.21%
    Asian 207 $48,285,000 $233,261 $2,945 5.02%
    Asian Indian 54 $24,780,000 $458,889 $4,348 4.45%
    American Indian 30 $5,430,000 $181,000 $2,847 5.47%
    Other Asian 11 $3,915,000 $355,909 $2,709 4.39%
    Not applicable 8 $2,960,000 $370,000 $0 4.78%
    Filipino 4 $1,070,000 $267,500 $3,585 4.76%
    Vietnamese 2 $620,000 $310,000 $2,276 3.94%
    Chinese 3 $545,000 $181,667 $3,662 4.42%
    Native Hawaiian or Islander 7 $225,000 $32,143 $0 5.85%
    Japanese 1 $155,000 $155,000 $1,914 2.88%
    Other Pacific Islander 2 $120,000 $60,000 $0 5.63%

    Approval Rates

    Total approvals of all applications
    74.58%

    Coastal Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.72%

    Coastal Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,735 $1,085,855,000 $189,338

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,735 $1,085,855,000 $189,338

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,497 $224,835,000 $150,190 $856 5.37%
    40-60% 484 $116,010,000 $239,690 $2,766 4.36%
    60-80% 724 $279,930,000 $386,644 $3,588 4.20%
    80-100% 704 $303,690,000 $431,378 $4,010 4.62%
    Over 100% 6 $2,690,000 $448,333 $6,115 6.60%
    Under 20% 2,320 $158,700,000 $68,405 $63 5.34%