Coastal Funding Slc Mortgage Rates, Fees & Info
SAN LUIS OBISPO, CALEI: 549300U7F7T8UG5AI038
Tax ID: 26-3958508
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Mortgage Data
Review & Overview
Coastal Funding Slc is a smaller mortgage company specializing in Home Purchase and Refi loans. Coastal Funding Slc has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Luis Obispo, Santa Maria, San Francisco, Los Angeles, and San Diego among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Coastal Funding Slc 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. Coastal Funding Slc 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 12/16/24 |
| 30 Year Conventional Refi | 6.41% | 12/16/24 |
| 30 Year Cash-out Refi | 6.64% | 12/16/24 |
| 30 Year FHA Purchase | 7.03% | 12/16/24 |
| 30 Year VA Purchase | 6.20% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.11% | 12/16/24 |
| 15 Year Conventional Refi | 6.16% | 12/16/24 |
| 15 Year Cash-out Refi | 6.16% | 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 Funding Slc Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
418Origination Dollar Volume (All Markets)
$181,630,000Top 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) | 287 | $123,505,000 | $430,331 | $5,207 | 4.23% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 54 | $20,110,000 | $372,407 | $6,510 | 4.18% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 26 | $15,780,000 | $606,923 | $6,601 | 4.20% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $5,635,000 | $512,273 | $5,931 | 4.66% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 6 | $5,100,000 | $850,000 | $4,187 | 4.12% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 5 | $2,485,000 | $497,000 | $3,119 | 4.24% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,750,000 | $437,500 | $5,556 | 3.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $3,898 | 4.09% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $14,398 | 4.31% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,225 | 4.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,290 | 3.75% |
| VISALIA, CA (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $2,966 | 5.09% |
| NAPA, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $9,181 | 3.63% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,137 | 3.50% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,694 | 4.50% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,877 | 5.25% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,616 | 3.88% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,719 | 4.00% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,168 | 3.88% |
| BEND, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,137 | 3.88% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,237 | 5.63% |
| Outside of Metro Areas | 2 | $190,000 | $95,000 | $4,851 | 6.06% |
Similar Lenders
We use machine learning to identify the top lenders compared against COASTAL FUNDING SLC 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 2019, Coastal Funding Slc's most frequently originated type of loan was Conventional, with 373 originations. Their 2nd most popular type was FHA, with 26 originations.
Loan Reason
For 2019, Coastal Funding Slc's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Refi, with 178 originations.
Loan Duration/Length
For 2019, Coastal Funding Slc's most frequently cited loan duration was 30 Year, with 393 originations. The 2nd most popular length was 15 Year, with 19 originations.
Origination Fees/Closing Costs
Coastal Funding Slc's average total fees were $5,515, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 308 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 209 | $97,325,000 | $465,670 |
| 3-4% | 186 | $75,790,000 | $407,473 |
| 5-6% | 20 | $7,010,000 | $350,500 |
| 6-7% | 2 | $1,400,000 | $700,000 |
| 7-8% | 1 | $105,000 | $105,000 |
During 2019, Coastal Funding Slc's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 4-5%, with 209 originations.
Loan Sizing
2019 saw Coastal Funding Slc place emphasis on $200k-400k loans with 188 originations, totaling $61,900,000 in origination value.
Applicant Income
Coastal Funding Slc lent most frequently to those with incomes in the $100k-150k range, with 122 originations. The second most popular income band? $150k-250k, with 93 originations.
Applicant Debt to Income Ratio
Coastal Funding Slc lent most frequently to those with DTI ratios of 30-36%, with 80 originations. The next most common DTI ratio? 20-30%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Coastal Funding Slc has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.88%
Coastal Funding Slc has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 418 | $181,630,000 | $434,522 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 8 | $2,750,000 | $343,750 |
| Single Family (1-4 Units):Site-Built | 410 | $178,880,000 | $436,293 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Castle and Cookie Mortgage LLC | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| Castle and Cookie Mortgage LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |