East Coast Capital Corporation Mortgage Interest Rate and Cost Review

Is East Coast Capital Corporation a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by East Coast Capital Corporation with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.07%)
Loan Related Closing Costshigher than average (+$678)
National Rate and Closing Cost Rating(3.0)

On average, East Coast Capital Corporation’s interest rates were similar to those of other lenders (+0.07%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$678. Overall, combining interest rates and closing costs we estimate that East Coast Capital Corporation tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.0 out of 5.0 stars.

East Coast Capital Corporation’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track East Coast Capital Corporation was most active in:

  1. New York, NY
  2. Columbus, OH
  3. Yonkers, NY
  4. Jersey City, NJ
  5. Stamford, CT

You can click through to check out East Coast Capital Corporation’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

East Coast Capital Corporation’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, East Coast Capital Corporation originated Conforming, FHA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference+0.14%+0.04%+0.01%
Loan Related Closing Cost Difference+$844+$579+$33
Cost Adjusted Rate Difference+0.17%+0.07%+0.01%
Star Rating(2.5)(3.0)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference+0.03%+0.00%+0.01%
Loan Related Closing Cost Difference+$773+$395-$38
Cost Adjusted Rate Difference+0.07%+0.02%+0.01%
Star Rating(3.0)(3.5)(3.5)

As a summary, East Coast Capital Corporation is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming and FHA purchase mortgages. For refinancing, East Coast Capital Corporation is similar to other lenders for FHA and VA mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about East Coast Capital Corporation:

Registered name: East Coast Capital Corporation
Registered city and state: Melville, NY, 11747
Regulator: United States Department of Housing and Urban Development (HUD)

* 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 East Coast Capital Corporation’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.