Central Coast Lending Mortgage Rates, Fees & Info

MORRO BAY, CA

LEI: 549300OSXT524OFE8M55

Tax ID: 26-1681423

4.2 stars - Updated: 12/4/23 - out of 5 stars, based on 15 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • 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

    Central Coast Lending is a smaller mortgage company specializing in 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, Sacramento, and Riverside among others. We have data for 25 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 a below 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) 4.96% 12/4/23
    30 Year Conventional Purchase 5.99% 12/4/23
    30 Year Conventional Refi 5.63% 12/4/23
    30 Year Cash-out Refi 5.76% 12/4/23
    30 Year FHA Purchase 6.89% 12/4/23
    30 Year VA Purchase 5.69% 12/4/23
    30 Year VA Refi 5.77% 12/4/23
    30 Year USDA Purchase 5.19% 12/4/23
    15 Year Conventional Purchase 5.68% 12/4/23
    15 Year Conventional Refi 6.07% 12/4/23
    15 Year Cash-out Refi 6.07% 12/4/23
    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.

    Central Coast Lending Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Central Coast Lending. 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

    216

    Origination Dollar Volume (All Markets)

    $94,960,000

    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 4.61%.

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

    This yields a difference of -0.15%.

    Relative Fees (Closing Costs)

    Central Coast Lending's average total fees/closing costs for a 30 year fixed rate mortgage were $7,765.

    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) 134 $63,650,000 $475,000 $7,654 4.63%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 17 $5,195,000 $305,588 $5,941 4.83%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 11 $4,725,000 $429,545 $6,295 4.23%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $3,710,000 $618,333 $11,689 3.44%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 7 $2,735,000 $390,714 $6,808 4.16%
    FRESNO, CA (FHA|USDA|VA) 5 $1,775,000 $355,000 $8,998 5.58%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $1,520,000 $380,000 $7,694 5.34%
    SALINAS, CA (FHA|USDA|VA) 3 $1,435,000 $478,333 $7,292 4.38%
    BAKERSFIELD, CA (FHA|USDA|VA) 3 $1,045,000 $348,333 $10,617 3.79%
    MADERA, CA (FHA|USDA|VA) 2 $990,000 $495,000 $7,458 4.53%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $975,000 $325,000 $4,114 3.67%
    Outside of Metro Areas 2 $900,000 $450,000 $7,388 4.56%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $840,000 $420,000 $17,705 5.88%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $825,000 $825,000 $6,891 4.38%
    YUBA CITY, CA (FHA|USDA|VA) 2 $810,000 $405,000 $12,337 7.94%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $670,000 $335,000 $8,722 5.63%
    COLUMBUS, OH (FHA|USDA|VA) 3 $525,000 $175,000 $4,025 6.50%
    Mount Vernon, OH (FHA|USDA|VA) 1 $495,000 $495,000 $5,925 7.25%
    VISALIA, CA (FHA|USDA|VA) 2 $420,000 $210,000 $4,033 3.63%
    REDDING, CA (FHA|USDA|VA) 1 $415,000 $415,000 $20,034 4.50%
    STOCKTON, CA (FHA|USDA|VA) 1 $345,000 $345,000 $7,364 4.38%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $325,000 $325,000 $4,659 4.13%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $315,000 $315,000 $4,225 2.88%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $185,000 $185,000 $3,369 5.88%
    AKRON, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,385 5.25%
    Central Coast Lending's top markets include San Luis Obispo, Oxnard, Santa Maria, Sacramento, and Riverside among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Ohio (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.

    Credence Funding Corporation
    Similarity Rank: 316
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 567
    Chaffey Federal Credit Union
    Similarity Rank: 644
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 660
    MISSION
    Similarity Rank: 1025
    Christian Community Credit Union
    Similarity Rank: 1062
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1067
    Los Angeles Federal Credit Union
    Similarity Rank: 1120
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 1158

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 191 $87,965,000 $460,550 $7,279 4.54%
    VA 8 $3,870,000 $483,750 $12,419 4.48%
    HELOC 7 $785,000 $112,143 n/a 6.68%
    FHA 6 $1,060,000 $176,667 $0 6.37%
    FHA 3 $865,000 $288,333 $9,868 4.83%
    USDA 1 $415,000 $415,000 $20,034 4.50%

    For 2022, Central Coast Lending's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was VA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 101 $50,675,000 $501,733 $8,455 4.91%
    Cash Out Refi 79 $29,515,000 $373,608 $7,092 4.60%
    Refi 35 $14,705,000 $420,143 $6,176 4.05%
    Other 1 $65,000 $65,000 $2,960 4.75%

    For 2022, Central Coast Lending's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Cash Out Refi, with 79 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 199 $91,525,000 $459,925 $7,765 4.61%
    15 Year 9 $1,985,000 $220,556 $4,121 4.24%
    Other 7 $1,195,000 $170,714 $0 6.82%
    20 Year 1 $255,000 $255,000 $3,696 3.25%

    For 2022, Central Coast Lending's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 74 $29,910,000 $404,189
    $5k+ 65 $36,455,000 $560,846
    $2k-3k 27 $10,775,000 $399,074
    $3k-4k 20 $7,770,000 $388,500
    $4k-5k 15 $6,705,000 $447,000

    Central Coast Lending's average total fees were $7,765, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 81 $39,275,000 $484,877
    5-6% 50 $20,930,000 $418,600
    4-5% 43 $18,735,000 $435,698
    6-7% 20 $7,090,000 $354,500
    7-8% 8 $2,580,000 $322,500
    2.5-3% 8 $3,910,000 $488,750
    <2.5% 5 $2,305,000 $461,000
    Over 8% 1 $135,000 $135,000

    During 2022, Central Coast Lending's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 3-4%, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 72 $22,380,000 $310,833 $6,111 4.70%
    $400k-600k 71 $34,885,000 $491,338 $6,882 4.49%
    $600k-1MM 40 $29,300,000 $732,500 $13,353 4.31%
    $100k-200k 21 $3,285,000 $156,429 $3,815 5.26%
    $100,000 or less 8 $500,000 $62,500 $2,960 5.92%
    $1MM+ 4 $4,610,000 $1,152,500 $6,393 4.66%

    2022 saw Central Coast Lending place emphasis on $200k-400k loans with 72 originations, totaling $22,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $29,295,000 $465,000 $7,523 4.59%
    $150k-250k 62 $32,850,000 $529,839 $9,263 4.52%
    $75k-100k 39 $13,585,000 $348,333 $5,772 4.50%
    $50k-75k 27 $7,995,000 $296,111 $6,375 4.60%
    $250k+ 14 $9,480,000 $677,143 $9,047 5.50%
    $50k or less 11 $1,755,000 $159,545 $3,911 5.45%

    Central Coast Lending lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $150k-250k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 36 $14,320,000 $397,778 $7,224 4.62%
    20-30% 23 $9,635,000 $418,913 $5,700 4.61%
    44% 17 $7,195,000 $423,235 $8,993 5.21%
    42% 16 $8,250,000 $515,625 $6,337 4.61%
    43% 13 $5,335,000 $410,385 $5,594 3.94%
    39% 12 $6,270,000 $522,500 $9,558 4.31%
    47% 11 $4,545,000 $413,182 $7,180 4.63%
    <20% 10 $3,490,000 $349,000 $4,785 4.58%
    37% 10 $5,180,000 $518,000 $8,848 4.48%
    40% 10 $5,790,000 $579,000 $11,048 4.06%
    49% 9 $3,315,000 $368,333 $6,914 4.60%
    48% 9 $4,195,000 $466,111 $9,081 4.58%
    41% 8 $5,200,000 $650,000 $8,262 4.97%
    >60% 7 $2,345,000 $335,000 $25,499 5.72%
    38% 7 $2,765,000 $395,000 $5,915 5.13%
    36% 7 $2,245,000 $320,714 $7,930 4.18%
    46% 4 $1,850,000 $462,500 $6,145 4.97%
    45% 4 $2,280,000 $570,000 $4,480 5.48%
    50-60% 2 $720,000 $360,000 $15,504 5.50%

    Central Coast Lending lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $71,800,000 $437,805 $7,724 4.61%
    Not provided 43 $18,375,000 $427,326 $6,336 4.81%
    Asian 4 $2,020,000 $505,000 $11,014 4.97%
    Black 2 $1,150,000 $575,000 $17,669 4.19%
    Native Hawaiian or Islander 2 $1,050,000 $525,000 $5,297 5.56%
    American Indian 1 $565,000 $565,000 $2,349 4.50%

    Approval Rates

    Total approvals of all applications
    98.47%

    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
    81.48%

    Central Coast Lending has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 216 $94,960,000 $439,630

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    216 $94,960,000 $439,630

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $7,015,000 $280,600 $5,339 4.81%
    40-60% 46 $18,060,000 $392,609 $5,778 4.43%
    60-80% 70 $40,220,000 $574,571 $9,472 4.45%
    80-100% 55 $26,035,000 $473,364 $7,678 4.69%
    Over 100% 2 $1,250,000 $625,000 $20,552 4.25%
    Under 20% 18 $2,380,000 $132,222 $3,937 5.81%