Coastal Funding Slc Mortgage Rates, Fees & Info

SAN LUIS OBISPO, CA

LEI: 549300U7F7T8UG5AI038

Tax ID: 26-3958508

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Coastal Funding Slc is a smaller mortgage company specializing in Home Purchase loans. Coastal Funding Slc has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Luis Obispo, Santa Maria, San Francisco, Los Angeles, and Oxnard among others. We have data for 20 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 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 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
    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






    Your Estimates

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

    This is not an official calculator from Coastal Funding Slc. 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

    284

    Origination Dollar Volume (All Markets)

    $145,390,000

    Awards

    COASTAL FUNDING SLC FHA Loans bronze
    Show all (1) 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) 157 $83,535,000 $532,070 $8,627 4.98%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 43 $20,515,000 $477,093 $12,885 4.71%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 19 $13,985,000 $736,053 $11,743 4.64%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $5,435,000 $494,091 $8,732 4.83%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $3,260,000 $543,333 $17,622 5.23%
    BAKERSFIELD, CA (FHA|USDA|VA) 15 $2,885,000 $192,333 $6,900 4.55%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $2,860,000 $715,000 $18,131 5.06%
    SALINAS, CA (FHA|USDA|VA) 3 $2,145,000 $715,000 $14,180 4.75%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $1,845,000 $369,000 $6,075 4.70%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,755,000 $585,000 $12,905 6.08%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,715,000 $571,667 $7,491 4.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,410,000 $352,500 $10,057 5.16%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 3 $1,105,000 $368,333 $13,229 5.88%
    VISALIA, CA (FHA|USDA|VA) 2 $700,000 $350,000 $6,398 4.50%
    VALLEJO, CA (FHA|USDA|VA) 1 $615,000 $615,000 $28,174 3.00%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $485,000 $485,000 $11,681 3.88%
    BEND, OR (FHA|USDA|VA) 1 $385,000 $385,000 $8,837 5.50%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $295,000 $295,000 $7,715 7.63%
    MEDFORD, OR (FHA|USDA|VA) 1 $235,000 $235,000 $6,741 5.50%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $225,000 $225,000 $3,718 5.50%
    Coastal Funding Slc's top markets include San Luis Obispo, Santa Maria, San Francisco, Los Angeles, and Oxnard among others.

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

    • 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.

    SAFEAMERICA CREDIT UNION
    Similarity Rank: 54
    Los Angeles Federal Credit Union
    Similarity Rank: 112
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 236
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 324
    Educational Employees Credit Union
    Similarity Rank: 357
    COASTHILLS
    Similarity Rank: 408
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 429
    KD CAPITAL MORTGAGE CORPORATION
    Similarity Rank: 616
    LBS FINANCIAL
    Similarity Rank: 707
    SESLOC
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 247 $125,845,000 $509,494 $8,686 4.95%
    FHA 21 $11,085,000 $527,857 $19,872 4.67%
    VA 16 $8,460,000 $528,750 $14,837 4.57%

    For 2022, Coastal Funding Slc's most frequently originated type of loan was Conventional, with 247 originations. Their 2nd most popular type was FHA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 191 $106,845,000 $559,398 $11,183 5.15%
    Cash Out Refi 66 $27,970,000 $423,788 $7,738 4.43%
    Refi 27 $10,575,000 $391,667 $6,001 4.31%

    For 2022, Coastal Funding Slc's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Cash Out Refi, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 275 $141,825,000 $515,727 $10,038 4.92%
    15 Year 6 $1,830,000 $305,000 $5,161 3.77%
    20 Year 1 $205,000 $205,000 $3,597 3.63%
    30+ year 1 $975,000 $975,000 $0 8.75%
    Other 1 $555,000 $555,000 $0 6.25%

    For 2022, Coastal Funding Slc's most frequently cited loan duration was 30 Year, with 275 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 126 $75,550,000 $599,603
    $1k-2k 83 $39,475,000 $475,602
    $2k-3k 26 $11,610,000 $446,538
    $4k-5k 18 $6,420,000 $356,667
    $3k-4k 16 $7,130,000 $445,625
    $<1k 5 $2,405,000 $481,000

    Coastal Funding Slc's average total fees were $10,038, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $39,535,000 $476,325
    5-6% 76 $40,590,000 $534,079
    3-4% 69 $34,695,000 $502,826
    6-7% 39 $21,915,000 $561,923
    2.5-3% 8 $4,080,000 $510,000
    7-8% 7 $3,305,000 $472,143
    Over 8% 2 $1,270,000 $635,000

    During 2022, Coastal Funding Slc's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 95 $47,025,000 $495,000 $9,686 4.83%
    $200k-400k 79 $24,635,000 $311,835 $6,848 5.08%
    $600k-1MM 72 $52,060,000 $723,056 $12,996 4.87%
    $100k-200k 23 $3,395,000 $147,609 $4,472 4.48%
    $1MM+ 15 $18,275,000 $1,218,333 $19,151 5.28%

    2022 saw Coastal Funding Slc place emphasis on $400k-600k loans with 95 originations, totaling $47,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $39,210,000 $466,786 $9,950 4.89%
    $150k-250k 69 $41,005,000 $594,275 $10,712 4.83%
    $250k+ 49 $37,525,000 $765,816 $12,110 5.18%
    $75k-100k 48 $18,110,000 $377,292 $7,790 4.49%
    $50k-75k 17 $5,115,000 $300,882 $7,385 5.14%
    $50k or less 11 $2,295,000 $208,636 $6,785 5.15%

    Coastal Funding Slc lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $150k-250k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 45 $23,775,000 $528,333 $8,578 4.96%
    20-30% 35 $18,565,000 $530,429 $8,972 4.73%
    48% 16 $6,490,000 $405,625 $9,206 5.13%
    41% 16 $9,090,000 $568,125 $12,030 5.07%
    38% 16 $8,950,000 $559,375 $10,533 5.24%
    <20% 15 $7,425,000 $495,000 $8,610 4.69%
    37% 14 $8,760,000 $625,714 $9,643 4.76%
    42% 13 $7,215,000 $555,000 $11,722 5.02%
    40% 13 $8,455,000 $650,385 $10,914 4.88%
    45% 12 $5,080,000 $423,333 $7,214 5.06%
    39% 11 $5,835,000 $530,455 $9,840 4.90%
    46% 11 $5,025,000 $456,818 $10,627 5.27%
    47% 11 $5,785,000 $525,909 $11,600 4.77%
    50-60% 11 $5,405,000 $491,364 $13,909 4.48%
    43% 10 $5,360,000 $536,000 $12,634 4.55%
    49% 10 $4,700,000 $470,000 $13,856 4.93%
    44% 9 $3,835,000 $426,111 $5,955 4.39%
    36% 6 $2,840,000 $473,333 $6,461 3.81%
    >60% 2 $1,100,000 $550,000 $0 6.69%

    Coastal Funding Slc lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 167 $89,715,000 $537,216 $10,519 5.03%
    White 107 $50,815,000 $474,907 $9,073 4.74%
    Asian 5 $2,865,000 $573,000 $7,486 4.58%
    Black 4 $1,410,000 $352,500 $8,510 4.25%
    American Indian 1 $585,000 $585,000 $14,151 5.88%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    76.41%

    Coastal Funding Slc has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 284 $145,390,000 $511,937

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    284 $145,390,000 $511,937

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $7,275,000 $316,304 $6,710 4.93%
    40-60% 65 $29,325,000 $451,154 $7,407 4.73%
    60-80% 101 $57,835,000 $572,624 $9,409 4.92%
    80-100% 81 $45,285,000 $559,074 $12,651 5.04%
    Over 100% 7 $4,105,000 $586,429 $23,313 4.75%
    Under 20% 7 $1,565,000 $223,571 $5,593 4.88%