Jumbo Mortgages

Making big money available for your million-dollar dreams

Coastal offers low-cost loans to finance more expensive homes

Here's how a Coastal Jumbo Mortgage could help you bank better:

  • Borrow an amount greater than $510,400 
  • Various fixed interest rate and adjustable-rate options
  • Use for purchases or refinances
  • Borrow up to 95% of the home’s value, which is higher than most lenders
  • Low $600 underwriting fee, and no document prep or credit report fees
  • Your mortgage stays local with Coastal because we'll never sell it
  • This mortgage is eligible for an annual Loyalty Bonus payout 

Just the Facts

We don’t live in a one-size-fits-all world. Sometimes you need to go big.

Maybe you have a super-sized family with lots of wonderful kids. Maybe you’re opening your heart and home to aging parents or in-laws. Or maybe you’ve achieved business success and are looking for a little luxury in your life.

Because some folks want bigger homes, we offer Jumbo mortgages. Coastal will let you borrow up to $1 million; because we keep your loan with us, we’re willing to offer more than banks that sell mortgages outright to make a quick buck. We’ll also let you borrow up to 95% of the home’s value. That means a lower down payment, which could do wonders for your cash flow. Finally, we can close most purchase loans within 30 days. (A refinancing might take a bit longer.) Just because you’re going big doesn’t mean you’ll settle for slow.

Earn more cash back when you shop.

I was able to buy my first home on my own without using all of my savings.
Margaret H.

Frequently Asked Questions

The primary savings is considered the membership account which provides our members with voting rights at the credit union and will always need to remain open and active as long as there are share products or loan products listed under the housing account.

There are two options to make principal only payments. (Excludes first mortgages and VISA Credit Cards)

You can pay an extra amount at the same time you make your regularly scheduled payment. The extra amount paid will automatically be applied to the principal balance. The regular payment and the extra amount must be applied on the same date with this option.

You can make principal only payments at other times as long as your loan is current. Please note, a principal only payment will not advance your due date, and will not take the place of normal monthly payments.

When mailing a check for principal only payments, clearly indicate in the memo section of the check, "PRINCIPAL ONLY" and the account number. Any payment applied as principal and interest, that is not notated "PRINCIPAL ONLY", cannot be reversed and reapplied later.

Please send payment to:
Coastal Federal Credit Union:
ATTN: Payments/Deposits:
PO BOX 58429, Raleigh NC 27658-8429

Please email loanservicing@coastalfcu.org with any questions.

Yes, if you wish to add more funds to your loan or increase it in anyway a new application will need to be submitted

You do not need to have a first mortgage with Coastal to obtain a HELOC.

Coastal only issues 1098 Mortgage Interest Statements for accounts that paid $600 or more in interest during the calendar year. The exact amount of interest paid on your mortgage loan is listed on your December statement.

For a $525,000 loan for a term of 30 years with a 4.50% APR, the monthly payment is $2,660.00.  Taxes and insurance are not included in this payment example and that the actual payment obligation could be greater.  All loans are subject to approval.

Need help?

Send us a secured message: