Central Coast Lending Mortgage Rates, Fees & Info

MORRO BAY, CA

LEI: 549300OSXT524OFE8M55

Tax ID: 26-1681423

5 stars - out of 5 stars, based on 33 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Central Coast Lending is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Central Coast Lending has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: San Luis Obispo, Oxnard, Santa Maria, Los Angeles, and San Francisco among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central Coast Lending has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Central Coast Lending is typically an average 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) 10.79% 1/29/23
    30 Year Conventional Purchase 6.43% 1/29/23
    30 Year Conventional Refi 6.16% 1/29/23
    30 Year Cash-out Refi 6.33% 1/29/23
    30 Year FHA Purchase 7.08% 1/29/23
    30 Year FHA Refi 6.83% 1/29/23
    30 Year VA Purchase 5.96% 1/29/23
    30 Year VA Refi 5.63% 1/29/23
    30 Year USDA Purchase 6.80% 1/29/23
    15 Year Conventional Purchase 5.73% 1/29/23
    15 Year Conventional Refi 5.77% 1/29/23
    15 Year Cash-out Refi 5.77% 1/29/23
    15 Year VA Purchase 5.82% 1/29/23
    15 Year VA Refi 5.82% 1/29/23
    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

    1,061

    Origination Dollar Volume (All Markets)

    $428,515,000

    Awards

    CENTRAL COAST LENDING 30 Year Conventional Loans bronze CENTRAL COAST LENDING 30 Year Conventional Loans silver CENTRAL COAST LENDING FHA Loans bronze CENTRAL COAST LENDING VA Loans gold
    Show all (4) awards

    Relative Rate

    Central Coast Lending's average 30 year fixed mortgage rate was 2.93%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.22%.

    Relative Fees (Closing Costs)

    Central Coast Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $4,758.

    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
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 730 $305,930,000 $419,082 $4,591 2.86%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 82 $29,610,000 $361,098 $4,024 2.88%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 62 $24,500,000 $395,161 $5,166 2.95%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 31 $13,545,000 $436,935 $5,413 2.84%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 23 $10,995,000 $478,043 $4,810 2.80%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 19 $7,145,000 $376,053 $4,691 2.97%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 16 $5,820,000 $363,750 $3,973 2.94%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 9 $3,625,000 $402,778 $4,611 2.89%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 6 $3,270,000 $545,000 $5,025 2.98%
    VISALIA, CA (FHA|USDA|VA) 11 $3,235,000 $294,091 $4,397 2.74%
    FRESNO, CA (FHA|USDA|VA) 10 $3,060,000 $306,000 $4,232 2.81%
    SALINAS, CA (FHA|USDA|VA) 9 $2,445,000 $271,667 $5,054 2.94%
    Outside of Metro Areas 10 $2,380,000 $238,000 $3,852 2.96%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 6 $1,630,000 $271,667 $6,388 3.13%
    STOCKTON, CA (FHA|USDA|VA) 4 $1,420,000 $355,000 $4,802 2.78%
    BAKERSFIELD, CA (FHA|USDA|VA) 6 $1,410,000 $235,000 $4,297 3.08%
    CHICO, CA (FHA|USDA|VA) 3 $1,325,000 $441,667 $4,300 2.83%
    MODESTO, CA (FHA|USDA|VA) 4 $1,190,000 $297,500 $3,835 2.94%
    NAPA, CA (FHA|USDA|VA) 2 $1,170,000 $585,000 $4,121 3.75%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $740,000 $370,000 $5,006 3.00%
    YUBA CITY, CA (FHA|USDA|VA) 2 $720,000 $360,000 $6,641 2.56%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $670,000 $335,000 $3,113 2.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $660,000 $330,000 $3,306 2.44%
    MADERA, CA (FHA|USDA|VA) 4 $640,000 $160,000 $2,918 2.50%
    COLUMBUS, OH (FHA|USDA|VA) 2 $580,000 $290,000 $3,935 3.00%
    MERCED, CA (FHA|USDA|VA) 3 $495,000 $165,000 $3,348 2.54%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $305,000 $305,000 $6,542 3.25%
    Central Coast Lending's top markets include San Luis Obispo, Oxnard, Santa Maria, Los Angeles, and San Francisco among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 624
    Chaffey Federal Credit Union
    Similarity Rank: 966
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 1134
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 970 $388,280,000 $400,289 $4,318 2.89%
    VA 56 $26,550,000 $474,107 $6,179 2.45%
    FHA 26 $10,910,000 $419,615 $10,975 2.80%
    FHA 3 $1,015,000 $338,333 $0 1.43%
    HELOC 3 $415,000 $138,333 n/a 5.75%
    USDA 2 $830,000 $415,000 $8,218 2.88%
    Reverse Mortgage 1 $515,000 $515,000 $0 1.57%

    For 2021, Central Coast Lending's most frequently originated type of loan was Conventional, with 970 originations. Their 2nd most popular type was VA, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 540 $198,290,000 $367,204 $3,766 2.76%
    Home Purchase 267 $131,785,000 $493,577 $6,394 3.00%
    Cash Out Refi 254 $98,440,000 $387,559 $4,455 2.96%

    For 2021, Central Coast Lending's most frequently cited loan purpose was Refi, with 540 originations. The 2nd most popular reason was Home Purchase, with 267 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 898 $377,310,000 $420,167 $4,758 2.93%
    15 Year 94 $27,380,000 $291,277 $3,725 2.43%
    Other 33 $12,145,000 $368,030 $3,004 2.59%
    20 Year 30 $10,460,000 $348,667 $4,076 2.72%
    10 Year 6 $1,220,000 $203,333 $3,149 2.48%

    For 2021, Central Coast Lending's most frequently cited loan duration was 30 Year, with 898 originations. The 2nd most popular length was 15 Year, with 94 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 746 $291,600,000 $390,885
    $2k-3k 100 $36,760,000 $367,600
    $5k+ 86 $46,200,000 $537,209
    $3k-4k 58 $25,000,000 $431,034
    $4k-5k 39 $17,975,000 $460,897
    $<1k 10 $3,300,000 $330,000

    Central Coast Lending's average total fees were $4,758, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 746 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 549 $217,115,000 $395,474
    3-4% 290 $131,520,000 $453,517
    <2.5% 216 $78,280,000 $362,407
    4-5% 4 $1,380,000 $345,000
    5-6% 1 $135,000 $135,000
    6-7% 1 $85,000 $85,000

    During 2021, Central Coast Lending's average interest rate for loans was 2.93%, while their most frequently originated rate bucket for loans was 2.5-3%, with 549 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 465 $143,905,000 $309,473 $3,924 2.84%
    $400k-600k 401 $194,755,000 $485,673 $5,062 2.85%
    $600k-1MM 97 $66,075,000 $681,186 $6,491 3.07%
    $100k-200k 82 $13,080,000 $159,512 $3,254 2.81%
    $100,000 or less 8 $640,000 $80,000 $2,796 3.54%
    $1MM+ 8 $10,060,000 $1,257,500 $11,040 3.19%

    2021 saw Central Coast Lending place emphasis on $200k-400k loans with 465 originations, totaling $143,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 328 $134,650,000 $410,518 $4,447 2.88%
    $75k-100k 224 $84,010,000 $375,045 $4,444 2.82%
    $150k-250k 202 $92,340,000 $457,129 $4,912 2.94%
    $50k-75k 151 $46,445,000 $307,583 $4,157 2.87%
    $250k+ 84 $50,390,000 $599,881 $5,982 3.04%
    $50k or less 70 $19,570,000 $279,571 $4,057 2.66%

    Central Coast Lending lent most frequently to those with incomes in the $100k-150k range, with 328 originations. The second most popular income band? $75k-100k, with 224 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 245 $97,925,000 $399,694 $4,242 2.83%
    30-36% 186 $72,200,000 $388,172 $4,228 2.90%
    <20% 82 $28,450,000 $346,951 $4,208 2.79%
    42% 46 $19,160,000 $416,522 $5,363 3.03%
    37% 45 $19,315,000 $429,222 $4,542 2.94%
    44% 43 $16,385,000 $381,047 $4,338 3.00%
    39% 42 $18,460,000 $439,524 $5,597 2.81%
    48% 41 $17,375,000 $423,780 $5,860 2.93%
    38% 40 $15,490,000 $387,250 $4,580 2.92%
    41% 38 $14,350,000 $377,632 $4,092 2.90%
    43% 35 $15,135,000 $432,429 $4,933 2.88%
    40% 34 $14,960,000 $440,000 $4,654 2.91%
    46% 32 $13,960,000 $436,250 $5,183 2.95%
    45% 29 $11,275,000 $388,793 $4,127 2.95%
    47% 29 $12,505,000 $431,207 $4,628 2.91%
    >60% 27 $11,555,000 $427,963 $4,371 2.30%
    36% 24 $10,650,000 $443,750 $4,474 2.92%
    49% 24 $10,210,000 $425,417 $4,992 2.80%
    50-60% 19 $9,155,000 $481,842 $7,796 2.90%

    Central Coast Lending lent most frequently to those with DTI ratios of 20-30%, with 245 originations. The next most common DTI ratio? 30-36%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 785 $319,655,000 $407,204 $4,657 2.87%
    Not provided 229 $87,835,000 $383,559 $4,214 2.87%
    Asian 25 $11,855,000 $474,200 $4,657 2.79%
    Black 9 $3,865,000 $429,444 $9,116 3.47%
    American Indian 9 $3,135,000 $348,333 $4,500 2.72%
    Native Hawaiian or Islander 3 $1,695,000 $565,000 $5,070 3.00%
    Filipino 1 $475,000 $475,000 $2,857 3.25%

    Approval Rates

    Total approvals of all applications
    99.74%

    Central Coast Lending has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.14%

    Central Coast Lending has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,061 $428,515,000 $403,878

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,061 $428,515,000 $403,878

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 161 $45,295,000 $281,335 $3,753 2.75%
    40-60% 308 $116,650,000 $378,734 $4,097 2.82%
    60-80% 396 $175,060,000 $442,071 $4,504 2.94%
    80-100% 178 $87,170,000 $489,719 $6,223 2.91%
    Over 100% 4 $2,110,000 $527,500 $15,446 2.38%
    Under 20% 14 $2,230,000 $159,286 $3,383 3.36%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%