Coastal Carolina National Bank Mortgage Interest Rate and Cost Review

Is Coastal Carolina National Bank a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Coastal Carolina National Bank to those of other lenders for a comparable set of borrowers. Here is our review of Coastal Carolina National Bank nationally:

Review ItemCoastal Carolina National Bank
Interest Ratehigher than other lenders (+0.14%)
Loan Related Closing Costssimilar to other lenders (-$106)
National Rate and Closing Cost Star Rating(3)

On average, Coastal Carolina National Bank’s interest rates were higher than those of other lenders (+0.14%). On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$106. Overall, combining interest rates and closing costs we estimate that Coastal Carolina National Bank tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Coastal Carolina National Bank, check out its website at: https://www.myccnb.com.

Coastal Carolina National Bank’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Coastal Carolina National Bank was most active in:

  1. Myrtle Beach, SC
  2. Augusta, GA
  3. Simpsonville, SC
  4. Wilmington, NC
  5. Columbia, SC

Coastal Carolina National Bank’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Coastal Carolina National Bank originated Conforming mortgages for new home purchases. It also originated Conforming, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConforming
Interest Rate Difference+0.19%
Loan Related Closing Cost Difference-$25
Cost Adjusted Rate Difference+0.19%
National Star Rating(2.5)
Refinance MortgagesConformingJumboVA
Interest Rate Difference+0.07%+0.01%-0.01%
Loan Related Closing Cost Difference-$255-$0-$30
Cost Adjusted Rate Difference+0.04%+0.01%-0.01%
Average Star Rating(3.5)(3.5)(3.5)

As a summary, Coastal Carolina National Bank is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, Coastal Carolina National Bank is similar to other lenders for Conforming, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Coastal Carolina National Bank:

Registered name: Coastal Carolina National Bank
Registered city and state: MYRTLE BEACH, SC, 29577
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: COASTAL CAROLINA BANCSHARES, INC.

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Coastal Carolina National Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.