Mortgage Rates

Come home to options that can save you money.

Ideal for purchases

Here's how Coastal's Mortgage Rates can help you bank better:

Your key to a better mortgage

Mortgages are often the largest expense for our North Carolina neighbors. That's why we focus on providing rates that help you get ahead financially so you can enjoy your home without stressing over your monthly payments. Coastal offers a mortgage option that will fit your budget and lifestyle.

Please use the drop down menu above to contact a mortgage officer for current refinance rates

Rates in effect as of November 27, 2020
Product Rate APR Points
30 Year Fixed Rate2.875%2.911%0.000
15 Year Fixed Rate2.625%2.690%0.000
5 Year Adjustable Rate2.500%2.782%0.000
7 Year Adjustable Rate2.750%2.853%0.000
10 Year Adjustable Rate2.875%2.911%0.000
30 Yr Fixed FTHB 100%3.750%3.818%0.375
7-1ARM FTHB 100%3.750%3.349%0.375
Jumbo 30 Year Fixed Rate3.170%3.181%0.000
Jumbo 7 Year Adjustable Rate2.750%2.964%0.000
Jumbo 10 Year Adjustable Rate2.875%2.985%0.000
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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 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

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.

APR = Annual Percentage Rate.

† Term loan – For a $75,000 loan amount, a term of 144 months with a 7.50% APR fixed,  the monthly payment will be $793.87. Balloon payment – For a $125,000 loan amount, a term of 60 month balloon and a 15 year amortization with a 7.50% APR fixed,  The monthly payment will be $1,162.41, with a final balloon payment of $97,964.05. Rates are subject to change daily. Lending area located in North Carolina, Virginia, and South Carolina. Coastal membership must be established prior to scheduled closing.

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