Coastal Federal Credit Union Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300MRP46SVQMWOE81

Tax ID: 56-0904243

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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, Myrtle Beach, and Fayetteville among others. We have data for 48 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% 4/21/24
    30 Year Conventional Purchase 6.60% 4/21/24
    30 Year Conventional Refi 6.36% 4/21/24
    30 Year Cash-out Refi 6.42% 4/21/24
    15 Year Conventional Purchase 6.10% 4/21/24
    15 Year Conventional Refi 6.06% 4/21/24
    15 Year Cash-out Refi 6.06% 4/21/24
    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

    4,171

    Origination Dollar Volume (All Markets)

    $600,865,000
    Show all (11) awards

    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) 2,838 $407,730,000 $143,668 $2,192 5.39%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 715 $112,485,000 $157,322 $2,611 5.21%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 175 $20,605,000 $117,743 $1,809 5.75%
    Outside of Metro Areas 41 $7,225,000 $176,220 $2,537 5.30%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 34 $6,270,000 $184,412 $2,548 4.80%
    FAYETTEVILLE, NC (FHA|USDA|VA) 48 $5,270,000 $109,792 $2,635 5.75%
    WILMINGTON, NC (FHA|USDA|VA) 27 $4,745,000 $175,741 $2,319 5.51%
    BURLINGTON, NC (FHA|USDA|VA) 34 $4,340,000 $127,647 $2,111 5.50%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 36 $4,130,000 $114,722 $2,611 5.35%
    Sanford, NC (FHA|USDA|VA) 18 $2,830,000 $157,222 $2,850 4.73%
    ASHEVILLE, NC (FHA|USDA|VA) 18 $2,720,000 $151,111 $2,569 5.54%
    WINSTON-SALEM, NC (FHA|USDA|VA) 16 $2,420,000 $151,250 $2,048 5.23%
    ROCKY MOUNT, NC (FHA|USDA|VA) 27 $2,325,000 $86,111 $2,446 5.89%
    Morehead City, NC (FHA|USDA|VA) 17 $2,125,000 $125,000 $2,379 5.16%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 7 $1,905,000 $272,143 $3,479 5.51%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,415,000 $283,000 $3,562 5.55%
    RICHMOND, VA (FHA|USDA|VA) 7 $1,315,000 $187,857 $2,414 5.86%
    Henderson, NC (FHA|USDA|VA) 16 $1,310,000 $81,875 $2,088 5.41%
    JACKSONVILLE, NC (FHA|USDA|VA) 7 $975,000 $139,286 $2,560 5.10%
    Kill Devil Hills, NC (FHA|USDA|VA) 5 $945,000 $189,000 $4,155 5.12%
    Roanoke Rapids, NC (FHA|USDA|VA) 4 $790,000 $197,500 $2,950 5.37%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 10 $730,000 $73,000 $758 6.60%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 9 $725,000 $80,556 $1,559 5.89%
    Boone, NC (FHA|USDA|VA) 3 $635,000 $211,667 $2,460 3.92%
    COLUMBIA, SC (FHA|USDA|VA) 8 $530,000 $66,250 $2,696 6.65%
    GREENVILLE, NC (FHA|USDA|VA) 5 $525,000 $105,000 $2,757 5.50%
    Wilson, NC (FHA|USDA|VA) 6 $520,000 $86,667 $3,328 6.06%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $425,000 $141,667 $1,401 6.76%
    Kinston, NC (FHA|USDA|VA) 2 $320,000 $160,000 $3,528 5.38%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $285,000 $285,000 $2,707 3.75%
    SPARTANBURG, SC (FHA|USDA|VA) 3 $275,000 $91,667 $140 8.11%
    GOLDSBORO, NC (FHA|USDA|VA) 5 $235,000 $47,000 $808 6.71%
    FLORENCE, SC (FHA|USDA|VA) 1 $225,000 $225,000 $3,327 3.63%
    Mount Airy, NC (FHA|USDA|VA) 1 $175,000 $175,000 $6,542 4.13%
    Marion, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,146 4.38%
    NEW BERN, NC (FHA|USDA|VA) 3 $135,000 $45,000 $59 7.96%
    ROANOKE, VA (FHA|USDA|VA) 1 $135,000 $135,000 $2,782 3.88%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $125,000 $125,000 $2,063 3.75%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $120,000 $60,000 $0 5.74%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,021 3.63%
    Gaffney, SC (FHA|USDA|VA) 1 $115,000 $115,000 $2,203 3.88%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.12%
    Albemarle, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.24%
    Lumberton, NC (FHA|USDA|VA) 2 $100,000 $50,000 $560 5.55%
    Cullowhee, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,454 4.63%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.24%
    Washington, NC (FHA|USDA|VA) 1 $25,000 $25,000 $1,786 7.50%
    Georgetown, SC (FHA|USDA|VA) 1 $25,000 $25,000 $108 4.30%
    Coastal Federal Credit Union's top markets include Raleigh, Durham, Charlotte, Myrtle Beach, and Fayetteville among others.

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

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    Champion Credit Union
    Similarity Rank: 423
    Roxboro Savings Bank SSB
    Similarity Rank: 567
    Telco Community Credit Union
    Similarity Rank: 572
    NewDominion Bank
    Similarity Rank: 602
    PROPONENT Federal Credit Union
    Similarity Rank: 645
    EXCITE Credit Union
    Similarity Rank: 738
    Coastal Carolina National Bank
    Similarity Rank: 756
    HOMESERVICES LENDING, LLC
    Similarity Rank: 884

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,576 $489,820,000 $190,148 $2,286 4.98%
    HELOC 1,595 $111,045,000 $69,621 n/a 6.03%

    For 2018, Coastal Federal Credit Union's most frequently originated type of loan was Conventional, with 2,576 originations. Their 2nd most popular type was HELOC, with 1,595 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,437 $349,675,000 $243,337 $3,170 4.65%
    Other 964 $54,460,000 $56,494 $134 6.40%
    Home Improvement 883 $57,445,000 $65,057 $618 5.85%
    Refi 583 $76,945,000 $131,981 $1,703 5.30%
    Cash Out Refi 300 $61,380,000 $204,600 $2,659 4.39%
    NA 4 $960,000 $240,000 $2,477 4.30%

    For 2018, Coastal Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,437 originations. The 2nd most popular reason was Other, with 964 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,895 $143,805,000 $75,887 $940 6.08%
    30 Year 1,587 $385,655,000 $243,009 $3,078 4.59%
    15 Year 335 $44,995,000 $134,313 $1,678 4.96%
    10 Year 191 $10,405,000 $54,476 $415 5.71%
    5 Year 123 $3,825,000 $31,098 $172 5.59%
    30+ year 24 $10,680,000 $445,000 $4,702 4.50%
    Other 16 $1,500,000 $93,750 $1,201 6.08%

    For 2018, Coastal Federal Credit Union's most frequently cited loan duration was 20 Year, with 1,895 originations. The 2nd most popular length was 30 Year, with 1,587 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,878 $323,980,000 $172,513
    $1k-2k 440 $96,820,000 $220,045
    $2k-3k 174 $48,560,000 $279,080
    $3k-4k 37 $9,575,000 $258,784
    $5k+ 22 $5,990,000 $272,273
    $4k-5k 16 $4,370,000 $273,125

    Coastal Federal Credit Union's average total fees were $3,078, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,878 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,652 $326,540,000 $197,663
    5-6% 1,201 $125,705,000 $104,667
    3-4% 432 $101,490,000 $234,931
    6-7% 341 $16,445,000 $48,226
    Over 8% 314 $18,220,000 $58,025
    7-8% 224 $11,920,000 $53,214
    <2.5% 7 $545,000 $77,857

    During 2018, Coastal Federal Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 1,652 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,958 $93,500,000 $47,753 $551 6.12%
    $100k-200k 1,047 $152,165,000 $145,334 $2,579 4.95%
    $200k-400k 994 $269,560,000 $271,187 $3,243 4.58%
    $400k-600k 148 $69,320,000 $468,378 $3,283 4.25%
    $600k-1MM 24 $16,320,000 $680,000 $3,750 4.40%

    2018 saw Coastal Federal Credit Union place emphasis on $100,000 or less loans with 1,958 originations, totaling $93,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,180 $179,870,000 $152,432 $2,312 5.45%
    $150k-250k 831 $142,765,000 $171,799 $2,222 5.44%
    $50k-75k 778 $92,670,000 $119,113 $2,289 5.35%
    $75k-100k 764 $102,420,000 $134,058 $2,337 5.36%
    $50k or less 383 $36,605,000 $95,574 $2,152 5.10%
    $250k+ 176 $39,350,000 $223,580 $2,628 5.53%

    Coastal Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,180 originations. The second most popular income band? $150k-250k, with 831 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 927 $123,485,000 $133,209 $2,364 5.33%
    30-36% 649 $90,865,000 $140,008 $2,191 5.53%
    <20% 367 $41,575,000 $113,283 $2,010 5.07%
    50-60% 162 $12,280,000 $75,802 $657 5.87%
    37% 123 $17,775,000 $144,512 $2,397 5.59%
    42% 122 $17,610,000 $144,344 $2,303 5.43%
    40% 121 $18,395,000 $152,025 $2,038 5.61%
    39% 119 $18,295,000 $153,739 $2,232 5.55%
    43% 119 $15,355,000 $129,034 $1,878 5.91%
    44% 118 $15,570,000 $131,949 $2,005 5.78%
    36% 115 $16,195,000 $140,826 $2,311 5.68%
    38% 109 $13,585,000 $124,633 $2,102 5.64%
    41% 107 $16,215,000 $151,542 $2,362 5.49%
    45% 102 $12,440,000 $121,961 $1,590 5.94%
    49% 101 $12,075,000 $119,554 $1,578 6.09%
    46% 85 $10,445,000 $122,882 $1,563 5.96%
    48% 82 $10,690,000 $130,366 $1,950 5.72%
    47% 78 $9,870,000 $126,538 $1,547 5.74%
    >60% 39 $2,035,000 $52,179 $463 5.79%

    Coastal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 927 originations. The next most common DTI ratio? 30-36%, with 649 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,119 $443,255,000 $142,114 $2,250 5.41%
    Not provided 478 $76,060,000 $159,121 $2,362 5.14%
    Black 359 $45,445,000 $126,588 $2,334 5.61%
    Asian 142 $23,880,000 $168,169 $2,628 5.20%
    Asian Indian 23 $5,675,000 $246,739 $3,157 4.45%
    American Indian 23 $2,875,000 $125,000 $1,631 5.40%
    Other Asian 7 $1,155,000 $165,000 $1,618 4.78%
    Native Hawaiian or Islander 8 $870,000 $108,750 $1,540 5.98%
    Not applicable 6 $810,000 $135,000 $1,519 5.98%
    Chinese 4 $740,000 $185,000 $3,318 4.84%
    Filipino 1 $65,000 $65,000 $2,577 4.88%
    Other Pacific Islander 1 $35,000 $35,000 $108 7.60%

    Approval Rates

    Total approvals of all applications
    86.98%

    Coastal Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.29%

    Coastal Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,171 $600,865,000 $144,058

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $390,000 $97,500
    Single Family (1-4 Units):Manufactured 6 $440,000 $73,333
    Single Family (1-4 Units):Site-Built 4,161 $600,035,000 $144,205

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 758 $70,480,000 $92,982 $690 5.95%
    40-60% 229 $37,805,000 $165,087 $2,346 4.75%
    60-80% 566 $131,990,000 $233,198 $2,955 4.48%
    80-100% 794 $198,780,000 $250,353 $3,263 4.74%
    Under 20% 1,382 $58,830,000 $42,569 $131 6.22%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Castle and Cookie Mortgage LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Castle and Cookie Mortgage LLC FHA mortgage Closing on a mortgage 1 50.0%