Coastal Federal Credit Union Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300MRP46SVQMWOE81

Tax ID: 56-0904243

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

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Mortgage Data

Review & Overview

Coastal Federal Credit Union is a smaller credit union specializing in Refi and 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 Myrtle Beach among others. We have data for 44 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.60% 3/28/24
30 Year Conventional Refi 6.36% 3/28/24
30 Year Cash-out Refi 6.42% 3/28/24
15 Year Conventional Purchase 6.10% 3/28/24
15 Year Conventional Refi 6.06% 3/28/24
15 Year Cash-out Refi 6.06% 3/28/24
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

4,504

Origination Dollar Volume (All Markets)

$779,120,000

Awards

COASTAL Federal Credit Union 30 Year Conventional Loans silver
Show all (1) 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) 3,118 $536,510,000 $172,069 $2,694 4.07%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 716 $123,700,000 $172,765 $2,823 3.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 164 $27,110,000 $165,305 $2,726 4.17%
WILMINGTON, NC (FHA|USDA|VA) 51 $11,535,000 $226,176 $2,986 3.61%
Outside of Metro Areas 42 $8,500,000 $202,381 $2,873 3.55%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 35 $7,765,000 $221,857 $2,920 3.55%
FAYETTEVILLE, NC (FHA|USDA|VA) 47 $6,375,000 $135,638 $2,521 4.49%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 31 $5,595,000 $180,484 $2,690 4.10%
BURLINGTON, NC (FHA|USDA|VA) 33 $5,165,000 $156,515 $2,488 3.87%
WINSTON-SALEM, NC (FHA|USDA|VA) 20 $3,880,000 $194,000 $3,473 3.83%
ROCKY MOUNT, NC (FHA|USDA|VA) 39 $3,775,000 $96,795 $2,517 4.13%
ASHEVILLE, NC (FHA|USDA|VA) 19 $3,675,000 $193,421 $3,324 3.97%
Sanford, NC (FHA|USDA|VA) 30 $3,400,000 $113,333 $2,347 4.28%
Morehead City, NC (FHA|USDA|VA) 11 $2,615,000 $237,727 $2,738 3.40%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 8 $2,570,000 $321,250 $3,522 3.45%
Roanoke Rapids, NC (FHA|USDA|VA) 8 $2,560,000 $320,000 $4,286 3.50%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 9 $2,415,000 $268,333 $4,884 3.56%
Henderson, NC (FHA|USDA|VA) 23 $2,285,000 $99,348 $1,969 4.58%
Wilson, NC (FHA|USDA|VA) 14 $2,110,000 $150,714 $2,760 4.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $2,025,000 $675,000 $4,524 3.54%
Boone, NC (FHA|USDA|VA) 7 $1,665,000 $237,857 $2,804 4.03%
JACKSONVILLE, NC (FHA|USDA|VA) 3 $1,445,000 $481,667 $3,759 3.46%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 7 $1,335,000 $190,714 $3,320 4.32%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 8 $1,210,000 $151,250 $1,817 5.12%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $1,070,000 $178,333 $1,218 5.35%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $1,020,000 $255,000 $3,235 4.76%
GREENVILLE, NC (FHA|USDA|VA) 9 $935,000 $103,889 $3,074 3.79%
Kill Devil Hills, NC (FHA|USDA|VA) 2 $890,000 $445,000 $6,805 5.12%
Forest City, NC (FHA|USDA|VA) 1 $805,000 $805,000 $2,809 2.88%
Brevard, NC (FHA|USDA|VA) 4 $800,000 $200,000 $3,602 3.22%
COLUMBIA, SC (FHA|USDA|VA) 2 $800,000 $400,000 $1,882 2.75%
GOLDSBORO, NC (FHA|USDA|VA) 7 $515,000 $73,571 $1,636 4.29%
NEW BERN, NC (FHA|USDA|VA) 5 $505,000 $101,000 $1,194 4.63%
Washington, NC (FHA|USDA|VA) 2 $490,000 $245,000 $5,126 3.94%
North Wilkesboro, NC (FHA|USDA|VA) 3 $445,000 $148,333 $1,730 3.65%
ROANOKE, VA (FHA|USDA|VA) 3 $365,000 $121,667 $1,484 5.70%
RICHMOND, VA (FHA|USDA|VA) 3 $265,000 $88,333 $0 5.70%
Kinston, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,556 3.13%
FLORENCE, SC (FHA|USDA|VA) 1 $205,000 $205,000 $2,909 3.00%
Marion, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,097 2.88%
Mount Airy, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 2.50%
Albemarle, NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.75%
SPARTANBURG, SC (FHA|USDA|VA) 1 $95,000 $95,000 $765 7.35%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $65,000 $65,000 $1,660 2.63%
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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,010 $668,060,000 $221,947 $2,732 3.62%
    HELOC 1,494 $111,060,000 $74,337 n/a 4.88%

    For 2020, Coastal Federal Credit Union's most frequently originated type of loan was Conventional, with 3,010 originations. Their 2nd most popular type was HELOC, with 1,494 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,607 $332,525,000 $206,923 $2,811 3.38%
    Home Purchase 897 $246,365,000 $274,654 $3,433 3.58%
    Other 815 $57,185,000 $70,166 $106 5.27%
    Home Improvement 762 $48,500,000 $63,648 $104 4.99%
    Cash Out Refi 423 $94,545,000 $223,511 $3,245 3.42%

    For 2020, Coastal Federal Credit Union's most frequently cited loan purpose was Refi, with 1,607 originations. The 2nd most popular reason was Home Purchase, with 897 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,776 $153,820,000 $86,610 $1,562 4.89%
    30 Year 1,596 $425,530,000 $266,623 $3,271 3.46%
    15 Year 809 $153,745,000 $190,043 $2,579 3.21%
    10 Year 197 $18,715,000 $95,000 $1,185 4.30%
    5 Year 57 $1,825,000 $32,018 $103 5.06%
    30+ year 49 $19,515,000 $398,265 $4,761 3.58%
    Other 20 $5,970,000 $298,500 $2,350 3.93%

    For 2020, Coastal Federal Credit Union's most frequently cited loan duration was 20 Year, with 1,776 originations. The 2nd most popular length was 30 Year, with 1,596 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,963 $406,055,000 $206,854
    $1k-2k 565 $134,285,000 $237,673
    $2k-3k 236 $61,030,000 $258,602
    $3k-4k 107 $27,405,000 $256,121
    $5k+ 84 $25,250,000 $300,595
    $4k-5k 43 $9,925,000 $230,814

    Coastal Federal Credit Union's average total fees were $3,271, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,963 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,599 $349,215,000 $218,396
    2.5-3% 966 $226,250,000 $234,213
    4-5% 945 $115,605,000 $122,333
    5-6% 467 $31,495,000 $67,441
    6-7% 205 $14,545,000 $70,951
    <2.5% 151 $31,375,000 $207,781
    7-8% 112 $7,400,000 $66,071
    Over 8% 59 $3,235,000 $54,831

    During 2020, Coastal Federal Credit Union's average interest rate for loans was 3.46%, while their most frequently originated rate bucket for loans was 3-4%, with 1,599 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,602 $83,960,000 $52,409 $763 5.00%
    $200k-400k 1,397 $384,435,000 $275,186 $3,354 3.31%
    $100k-200k 1,257 $183,715,000 $146,154 $2,624 3.76%
    $400k-600k 205 $96,615,000 $471,293 $3,822 3.28%
    $600k-1MM 43 $30,395,000 $706,860 $3,674 3.45%

    2020 saw Coastal Federal Credit Union place emphasis on $100,000 or less loans with 1,602 originations, totaling $83,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,316 $229,690,000 $174,536 $2,747 4.09%
    $150k-250k 1,048 $203,570,000 $194,246 $2,704 4.18%
    $50k-75k 759 $109,835,000 $144,710 $2,649 3.95%
    $75k-100k 728 $117,030,000 $160,755 $2,805 4.02%
    $50k or less 336 $38,200,000 $113,690 $2,708 3.69%
    $250k+ 253 $68,085,000 $269,111 $3,008 4.07%

    Coastal Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,316 originations. The second most popular income band? $150k-250k, with 1,048 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,266 $225,620,000 $178,215 $2,797 3.84%
    30-36% 814 $147,540,000 $181,253 $2,858 4.00%
    <20% 663 $120,645,000 $181,968 $2,738 3.40%
    44% 150 $26,840,000 $178,933 $2,741 4.30%
    36% 142 $25,410,000 $178,944 $2,897 4.24%
    37% 142 $25,410,000 $178,944 $2,569 4.33%
    41% 138 $24,010,000 $173,986 $2,727 4.40%
    40% 133 $23,445,000 $176,278 $2,878 4.39%
    42% 132 $24,400,000 $184,848 $2,952 4.28%
    38% 132 $22,160,000 $167,879 $2,903 4.39%
    43% 124 $20,390,000 $164,435 $2,457 4.56%
    39% 119 $20,855,000 $175,252 $2,780 4.07%
    50-60% 105 $9,085,000 $86,524 $1,152 4.60%
    46% 95 $12,545,000 $132,053 $2,224 4.68%
    48% 83 $12,125,000 $146,084 $2,555 4.54%
    45% 81 $10,505,000 $129,691 $1,831 5.02%
    47% 78 $11,970,000 $153,462 $1,999 4.64%
    49% 76 $10,060,000 $132,368 $2,361 4.85%
    >60% 20 $2,010,000 $100,500 $1,477 4.49%

    Coastal Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,266 originations. The next most common DTI ratio? 30-36%, with 814 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,264 $560,780,000 $171,808 $2,709 4.05%
    Not provided 639 $108,555,000 $169,883 $2,678 4.05%
    Black 352 $57,280,000 $162,727 $2,906 4.09%
    Asian 141 $24,245,000 $171,950 $2,826 3.93%
    Asian Indian 47 $13,905,000 $295,851 $3,319 3.41%
    Not applicable 12 $4,110,000 $342,500 $0 4.40%
    American Indian 16 $3,470,000 $216,875 $2,588 4.15%
    Other Asian 11 $2,765,000 $251,364 $3,069 3.47%
    Chinese 4 $1,370,000 $342,500 $3,233 3.58%
    Filipino 4 $690,000 $172,500 $1,833 3.91%
    Korean 3 $675,000 $225,000 $2,843 2.83%
    Vietnamese 3 $575,000 $191,667 $2,486 2.83%
    Other Pacific Islander 5 $435,000 $87,000 $1,470 4.31%
    Native Hawaiian or Islander 3 $265,000 $88,333 $2,434 4.10%

    Approval Rates

    Total approvals of all applications
    81.75%

    Coastal Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.29%

    Coastal Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,504 $779,120,000 $172,984

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,325,000 $775,000
    Single Family (1-4 Units):Site-Built 4,501 $776,795,000 $172,583

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 778 $82,950,000 $106,620 $1,519 4.66%
    40-60% 647 $125,935,000 $194,645 $2,783 3.21%
    60-80% 1,013 $264,865,000 $261,466 $3,245 3.28%
    80-100% 857 $244,345,000 $285,117 $3,458 3.51%
    Under 20% 1,209 $61,025,000 $50,476 $191 5.09%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Castle Credit Co Holdings, LLC, Chicago, IL Branch Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%