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 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 by origination volume include: Raleigh, Durham, Charlotte, Myrtle Beach, and Fayetteville 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% 12/16/24
    30 Year Conventional Purchase 6.60% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    30 Year Cash-out Refi 6.42% 12/16/24
    15 Year Conventional Purchase 6.10% 12/16/24
    15 Year Conventional Refi 6.06% 12/16/24
    15 Year Cash-out Refi 6.06% 12/16/24
    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

    5,808

    Origination Dollar Volume (All Markets)

    $1,063,030,000
    Show all (7) 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) 3,839 $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.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Georgia (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: 975
    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 1225
    Telco Community Credit Union
    Similarity Rank: 1592
    EXCITE Credit Union
    Similarity Rank: 1694
    Champion Credit Union
    Similarity Rank: 1815
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1980
    DUKE UNIVERSITY FEDERAL CREDIT UNION
    Similarity Rank: 2241
    Peoples Bank
    Similarity Rank: 2440
    Shea Mortgage Inc.
    Similarity Rank: 2774
    Countybank
    Similarity Rank: 2940

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,629 $862,535,000 $237,678 $2,613 3.35%
    HELOC 2,179 $200,495,000 $92,012 n/a 4.65%

    For 2021, Coastal Federal Credit Union's most frequently originated type of loan was Conventional, with 3,629 originations. Their 2nd most popular type was HELOC, with 2,179 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Coastal Federal Credit Union's most frequently cited loan purpose was Refi, with 1,496 originations. The 2nd most popular reason was 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 2021, Coastal Federal Credit Union's most frequently cited loan duration was 20 Year, with 2,601 originations. The 2nd most popular length was 30 Year, with 1,904 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 135 $43,935,000 $325,444
    $5k+ 73 $21,605,000 $295,959
    $4k-5k 56 $15,210,000 $271,607

    Coastal Federal Credit Union's average total fees were $3,191, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.16%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $15,000 $15,000 $0 4.80%

    Approval Rates

    Total approvals of all applications
    82.51%

    Coastal Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.10%

    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%