Central Coast Lending Mortgage Rates, Fees & Info
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Mortgage Data
Review & Overview
Central Coast Lending is a smaller mortgage company specializing in Home Purchase 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 an average proportion of FHA loans. Their top markets by origination volume include: San Luis Obispo, Santa Maria, Oxnard, Sacramento, and Los Angeles among others. We have data for 15 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 a high 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.96% | 4/23/24 |
| 30 Year Conventional Purchase | 5.99% | 4/23/24 |
| 30 Year Conventional Refi | 5.63% | 4/23/24 |
| 30 Year Cash-out Refi | 5.76% | 4/23/24 |
| 30 Year FHA Purchase | 6.89% | 4/23/24 |
| 30 Year VA Purchase | 5.69% | 4/23/24 |
| 30 Year VA Refi | 5.77% | 4/23/24 |
| 30 Year USDA Purchase | 5.19% | 4/23/24 |
| 15 Year Conventional Purchase | 5.68% | 4/23/24 |
| 15 Year Conventional Refi | 6.07% | 4/23/24 |
| 15 Year Cash-out Refi | 6.07% | 4/23/24 |
| 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. | ||
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
83Origination Dollar Volume (All Markets)
$33,685,000Relative Rate
Central Coast Lending's average 30 year fixed mortgage rate was
6.88%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.4%.
Relative Fees (Closing Costs)
Central Coast Lending's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,396.
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 $9,089.
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) | 57 | $24,805,000 | $435,175 | $9,735 | 7.05% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $12,833 | 6.58% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $9,087 | 7.16% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $12,512 | 6.12% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $29,462 | 7.15% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $9,184 | 6.29% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $11,874 | 6.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 7.63% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $6,286 | 6.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,911 | 6.63% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,398 | 7.13% |
| CHICO, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,088 | 6.38% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,685 | 6.63% |
| MERCED, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.63% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,344 | 8.50% |
Their top states include:
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.
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Product Mix
For 2023, Central Coast Lending's most frequently originated type of loan was Conventional, with 62 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2023, Central Coast Lending's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.
Loan Duration/Length
For 2023, Central Coast Lending's most frequently cited loan duration was 30 Year, with 71 originations. The 2nd most popular length was Other, with 9 originations.
Origination Fees/Closing Costs
Central Coast Lending's average total fees were $10,396, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 40 | $17,210,000 | $430,250 |
| 7-8% | 26 | $10,780,000 | $414,615 |
| 5-6% | 8 | $3,520,000 | $440,000 |
| Over 8% | 8 | $2,020,000 | $252,500 |
| 4-5% | 1 | $155,000 | $155,000 |
During 2023, Central Coast Lending's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 40 originations.
Loan Sizing
2023 saw Central Coast Lending place emphasis on $200k-400k loans with 24 originations, totaling $7,040,000 in origination value.
Applicant Income
Central Coast Lending lent most frequently to those with incomes in the $150k-250k range, with 21 originations. The second most popular income band? $100k-150k, with 19 originations.
Applicant Debt to Income Ratio
Central Coast Lending lent most frequently to those with DTI ratios of 49%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.94%
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 origination90.36%
Central Coast Lending has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 83 | $33,685,000 | $405,843 |