Central Coast Lending Mortgage Rates, Fees & Info

MORRO BAY, CA

LEI: 549300OSXT524OFE8M55

Tax ID: 26-1681423

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

    Central Coast Lending is a smaller mortgage company specializing in Refi and 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 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 26 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) 4.96% 4/22/24
    30 Year Conventional Purchase 5.99% 4/22/24
    30 Year Conventional Refi 5.63% 4/22/24
    30 Year Cash-out Refi 5.76% 4/22/24
    30 Year FHA Purchase 6.89% 4/22/24
    30 Year VA Purchase 5.69% 4/22/24
    30 Year VA Refi 5.77% 4/22/24
    30 Year USDA Purchase 5.19% 4/22/24
    15 Year Conventional Purchase 5.68% 4/22/24
    15 Year Conventional Refi 6.07% 4/22/24
    15 Year Cash-out Refi 6.07% 4/22/24
    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

    1,287

    Origination Dollar Volume (All Markets)

    $499,165,000
    Show all (9) 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
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 952 $380,530,000 $399,716 $4,692 3.03%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 88 $32,360,000 $367,727 $3,770 2.99%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 61 $21,105,000 $345,984 $4,633 3.06%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 35 $12,995,000 $371,286 $3,889 2.89%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 22 $10,580,000 $480,909 $4,314 3.24%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 20 $7,580,000 $379,000 $3,806 2.97%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 21 $6,085,000 $289,762 $5,523 2.86%
    FRESNO, CA (FHA|USDA|VA) 19 $5,355,000 $281,842 $3,934 2.99%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 13 $4,705,000 $361,923 $3,719 2.92%
    SALINAS, CA (FHA|USDA|VA) 7 $2,605,000 $372,143 $4,458 2.93%
    Outside of Metro Areas 6 $1,850,000 $308,333 $3,397 2.73%
    VISALIA, CA (FHA|USDA|VA) 6 $1,650,000 $275,000 $3,205 2.85%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 6 $1,620,000 $270,000 $4,747 3.04%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,405,000 $468,333 $5,127 2.96%
    NAPA, CA (FHA|USDA|VA) 2 $1,210,000 $605,000 $10,945 3.44%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 4 $1,090,000 $272,500 $3,218 2.84%
    MERCED, CA (FHA|USDA|VA) 4 $1,070,000 $267,500 $3,395 3.06%
    CHICO, CA (FHA|USDA|VA) 2 $990,000 $495,000 $3,201 3.06%
    BAKERSFIELD, CA (FHA|USDA|VA) 4 $960,000 $240,000 $3,914 2.69%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $820,000 $410,000 $4,108 2.56%
    MADERA, CA (FHA|USDA|VA) 3 $755,000 $251,667 $3,059 2.88%
    Eureka-Arcata, CA (FHA|USDA|VA) 2 $490,000 $245,000 $3,004 3.00%
    MODESTO, CA (FHA|USDA|VA) 2 $420,000 $210,000 $2,970 2.94%
    Ukiah, CA (FHA|USDA|VA) 1 $405,000 $405,000 $4,200 3.50%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $355,000 $355,000 $4,964 4.13%
    Crescent City, CA (FHA|USDA|VA) 1 $175,000 $175,000 $3,887 3.37%
    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)

    • 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.

    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 330
    Chaffey Federal Credit Union
    Similarity Rank: 345
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1120
    COASTHILLS
    Similarity Rank: 1368
    SESLOC
    Similarity Rank: 1416
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,179 $453,285,000 $384,466 $4,071 3.03%
    VA 54 $24,160,000 $447,407 $9,736 2.81%
    FHA 38 $17,610,000 $463,421 $11,429 2.73%
    USDA 11 $3,705,000 $336,818 $6,638 2.75%
    HELOC 5 $405,000 $81,000 n/a 4.20%

    For 2020, Central Coast Lending's most frequently originated type of loan was Conventional, with 1,179 originations. Their 2nd most popular type was VA, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 706 $261,540,000 $370,453 $3,782 2.97%
    Home Purchase 309 $140,415,000 $454,417 $6,349 3.03%
    Cash Out Refi 272 $97,210,000 $357,390 $4,484 3.13%

    For 2020, Central Coast Lending's most frequently cited loan purpose was Refi, with 706 originations. The 2nd most popular reason was Home Purchase, with 309 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,100 $438,870,000 $398,973 $4,725 3.06%
    15 Year 106 $32,400,000 $305,660 $3,566 2.57%
    Other 49 $18,465,000 $376,837 $3,254 3.04%
    20 Year 27 $8,005,000 $296,481 $3,857 3.12%
    10 Year 5 $1,425,000 $285,000 $3,489 2.45%

    For 2020, Central Coast Lending's most frequently cited loan duration was 30 Year, with 1,100 originations. The 2nd most popular length was 15 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 890 $335,850,000 $377,360
    $2k-3k 134 $50,260,000 $375,075
    $5k+ 87 $45,155,000 $519,023
    $3k-4k 78 $30,430,000 $390,128
    $<1k 47 $18,535,000 $394,362
    $4k-5k 46 $18,530,000 $402,826

    Central Coast Lending's average total fees were $4,725, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 890 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 562 $218,900,000 $389,502
    3-4% 510 $206,300,000 $404,510
    <2.5% 194 $66,670,000 $343,660
    4-5% 20 $7,160,000 $358,000
    5-6% 1 $135,000 $135,000

    During 2020, Central Coast Lending's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 562 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 619 $190,865,000 $308,344 $3,874 2.98%
    $400k-600k 480 $229,370,000 $477,854 $5,027 3.05%
    $600k-1MM 96 $64,980,000 $676,875 $7,613 3.15%
    $100k-200k 84 $13,380,000 $159,286 $3,320 2.93%
    $100,000 or less 8 $570,000 $71,250 $3,588 3.39%

    2020 saw Central Coast Lending place emphasis on $200k-400k loans with 619 originations, totaling $190,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 379 $152,745,000 $403,021 $4,594 3.02%
    $75k-100k 287 $103,275,000 $359,843 $4,546 2.99%
    $150k-250k 276 $125,650,000 $455,254 $4,822 3.07%
    $50k-75k 168 $49,350,000 $293,750 $3,939 3.02%
    $250k+ 103 $46,985,000 $456,165 $4,739 3.08%
    $50k or less 44 $9,360,000 $212,727 $3,766 2.83%

    Central Coast Lending lent most frequently to those with incomes in the $100k-150k range, with 379 originations. The second most popular income band? $75k-100k, with 287 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 294 $109,590,000 $372,755 $3,847 2.95%
    30-36% 276 $109,360,000 $396,232 $4,505 3.03%
    <20% 118 $39,850,000 $337,712 $3,532 2.91%
    43% 59 $23,535,000 $398,898 $4,401 3.10%
    40% 51 $18,465,000 $362,059 $5,043 3.08%
    37% 46 $16,780,000 $364,783 $3,926 3.11%
    39% 46 $18,990,000 $412,826 $4,987 3.13%
    41% 46 $17,910,000 $389,348 $4,480 2.99%
    44% 45 $19,555,000 $434,556 $5,574 3.12%
    38% 44 $17,200,000 $390,909 $4,999 3.15%
    42% 39 $16,295,000 $417,821 $5,773 3.17%
    36% 35 $13,855,000 $395,857 $4,485 3.10%
    45% 34 $13,980,000 $411,176 $5,658 2.96%
    46% 31 $13,385,000 $431,774 $4,526 3.06%
    49% 27 $11,155,000 $413,148 $4,964 2.98%
    48% 25 $10,615,000 $424,600 $5,923 3.07%
    47% 25 $9,015,000 $360,600 $4,117 3.10%
    50-60% 15 $7,565,000 $504,333 $12,828 2.98%
    >60% 1 $265,000 $265,000 $3,709 3.38%

    Central Coast Lending lent most frequently to those with DTI ratios of 20-30%, with 294 originations. The next most common DTI ratio? 30-36%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 967 $374,075,000 $386,841 $4,508 3.04%
    Not provided 245 $95,315,000 $389,041 $4,651 2.95%
    Asian 35 $16,135,000 $461,000 $4,463 2.94%
    American Indian 18 $5,720,000 $317,778 $5,481 3.03%
    Black 15 $5,225,000 $348,333 $5,005 2.98%
    Native Hawaiian or Islander 5 $1,765,000 $353,000 $3,605 2.77%
    Korean 1 $515,000 $515,000 $4,679 3.00%
    Chinese 1 $415,000 $415,000 $3,602 2.88%

    Approval Rates

    Total approvals of all applications
    99.58%

    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
    91.76%

    Central Coast Lending has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,287 $499,165,000 $387,852

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 12 $4,090,000 $340,833
    Single Family (1-4 Units):Site-Built 1,275 $495,075,000 $388,294

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 152 $38,480,000 $253,158 $3,656 2.84%
    40-60% 352 $124,620,000 $354,034 $3,793 2.95%
    60-80% 486 $202,770,000 $417,222 $4,304 3.10%
    80-100% 265 $122,895,000 $463,755 $5,844 3.02%
    Over 100% 16 $7,780,000 $486,250 $16,778 3.05%
    Under 20% 16 $2,620,000 $163,750 $2,987 3.41%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 2 50.0%
    CENTERSTATE BANK CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%