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 Refi and Home Purchase loans. Coastal Funding Slc 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, Santa Maria, San Francisco, Los Angeles, and San Diego among others. We have data for 27 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.41% | 4/28/24 |
| 30 Year Cash-out Refi | 6.64% | 4/28/24 |
| 30 Year FHA Purchase | 7.03% | 4/28/24 |
| 30 Year VA Purchase | 6.20% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.11% | 4/28/24 |
| 15 Year Conventional Refi | 6.16% | 4/28/24 |
| 15 Year Cash-out Refi | 6.16% | 4/28/24 |
| 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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
707Origination Dollar Volume (All Markets)
$329,295,000Top 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) | 423 | $200,485,000 | $473,960 | $5,367 | 3.16% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 117 | $45,135,000 | $385,769 | $7,184 | 3.15% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 54 | $36,010,000 | $666,852 | $7,772 | 3.15% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 22 | $9,650,000 | $438,636 | $5,755 | 3.07% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 11 | $5,505,000 | $500,455 | $5,304 | 3.11% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 8 | $5,310,000 | $663,750 | $4,692 | 3.20% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 11 | $5,175,000 | $470,455 | $5,867 | 3.20% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 8 | $3,740,000 | $467,500 | $6,678 | 3.12% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 11 | $2,345,000 | $213,182 | $5,280 | 3.49% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $2,030,000 | $338,333 | $5,647 | 3.31% |
| REDDING, CA (FHA|USDA|VA) | 4 | $1,760,000 | $440,000 | $6,028 | 3.03% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 4 | $1,620,000 | $405,000 | $5,876 | 3.12% |
| SALINAS, CA (FHA|USDA|VA) | 3 | $1,535,000 | $511,667 | $9,048 | 3.38% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,395,000 | $465,000 | $3,152 | 3.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $5,704 | 3.00% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $4,749 | 3.25% |
| MERCED, CA (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $8,968 | 3.56% |
| FRESNO, CA (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $3,580 | 3.60% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $2,126 | 3.56% |
| BEND, OR (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,942 | 3.12% |
| NAPA, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $2,507 | 2.75% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $8,031 | 2.63% |
| Outside of Metro Areas | 1 | $505,000 | $505,000 | $3,944 | 3.00% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,077 | 3.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,899 | 2.75% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,619 | 3.50% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,366 | 3.13% |
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 2021, Coastal Funding Slc's most frequently originated type of loan was Conventional, with 647 originations. Their 2nd most popular type was FHA, with 34 originations.
Loan Reason
For 2021, Coastal Funding Slc's most frequently cited loan purpose was Refi, with 278 originations. The 2nd most popular reason was Home Purchase, with 272 originations.
Loan Duration/Length
For 2021, Coastal Funding Slc's most frequently cited loan duration was 30 Year, with 662 originations. The 2nd most popular length was 15 Year, with 32 originations.
Origination Fees/Closing Costs
Coastal Funding Slc's average total fees were $5,992, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 463 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 394 | $190,100,000 | $482,487 |
| 2.5-3% | 276 | $122,430,000 | $443,587 |
| <2.5% | 24 | $10,260,000 | $427,500 |
| 4-5% | 11 | $5,085,000 | $462,273 |
| 5-6% | 2 | $1,420,000 | $710,000 |
During 2021, Coastal Funding Slc's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 394 originations.
Loan Sizing
2021 saw Coastal Funding Slc place emphasis on $400k-600k loans with 283 originations, totaling $137,865,000 in origination value.
Applicant Income
Coastal Funding Slc lent most frequently to those with incomes in the $100k-150k range, with 226 originations. The second most popular income band? $150k-250k, with 177 originations.
Applicant Debt to Income Ratio
Coastal Funding Slc lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 133 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 origination84.16%
Coastal Funding Slc has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 707 | $329,295,000 | $465,764 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Coastal Credit, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Coastal Credit, LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |