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Thanks so much Coastal. And by the way, I have been a member for going on 7 years now and have just re-financed my home mortgage with you. I was so impressed with how simple the re-fi was and how easy it was to complete the application process. Great Job Coastal!

- Guy T
Member Since 2004
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Mortgage

Buying a home is one of the most important purchases you'll ever make. Whether you're a first-time buyer or a seasoned veteran, our team of experts offer the personalized service you need to buy your next home.

Whether you're a first-time home buyer or looking for responsible financing for your dream home, Coastal offers personalized services and products to help make the process easier and more affordable. Common differentiators for all of our mortgages that we offer:

  • We never sell the servicing of your mortgage, making sure you will continue to work with people here in the Triangle whenever you have a question. 
  • Underwriting fees are often used by mortgage lenders as a way to add profit for them without adding value to you.  But, not at Coastal.  We only charge a $400 flat fee for underwriting, meaning we don't charge for document prep fees, commitment fees or credit report fees.  This saves you hundreds of dollars in unnecessary fees. Read more about our commitment to eliminating unnecessary fees throughout Coastal.
  • Coastal is committed to affordable housing in our community.  Read more about Coastal's commitment to Habitat for Humanity of Wake County and our recording breaking year.

Getting more people into homes is just one more way Coastal offers the Triangle a better way to bank. In fact, take a look at this short video showcasing our mortgage products available to you.

Fixed Rate Mortgage

These loans are ideal for members that want a fixed rate and payment that will not change over the life of the loan. You could be someone buying a new home and know you will be in it for decades or a member that already has a mortgage and just wants the stability a fixed rate mortgage provides. This type of mortgage offers:

  • An interest rate and payment that remains the same for the life of the loan
  • 10, 15, 20 and 30 year terms available
Learn More
Adjustable Rate Mortgage

Ideal if you plan on paying the loan off, refinancing, or moving before the rate adjusts. This type of mortgage offers:

  • An initial interest rate that’s lower on average than a fixed rate mortgage, thus reducing initial monthly mortgage payments and saving you money.
  • Financing as high as 97% LTV (loan to value) of the lesser of the purchase price or approved value, while banks generally only go up to 90% LTV.
  • We offer 5/1, 5/5, 7/1 and 10/1 ARM products.
Learn More
First Time Home Buyer Mortgage

Coastal offers a market differentiating product for first-time homebuyers. This loan is ideal for anyone who has not owned a home in the last three years, featuring responsible financing options with little or no money down. This type of mortgage offers:

  • 100% financing for your first home.
  • No Private Mortgage Insurance (PMI) required.
  • 30 year Fixed Rate Mortgage or a 7/1 Adjustable Rate Mortgage.
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JUMBO Mortgage

Coastal also offers unique financing for those members looking to buy or refinance a home above $424,100. Because we keep your loan at Coastal, we are willing to loan more on your home than banks that often sell the mortgages outright to make a quick buck. This type of mortgage offers:

  • All fixed rate and adjustable rate options are available up to $1 Million.
  • Financing up to 95% LTV (loan to value), while banks generally only go up to 90% LTV.
Learn More
Your Home, Your Success – Coastal's HomeReady* Mortgage

Coastal is committed to offering responsible home financing options for a broad spectrum of credit and incomes. This mortgage loan is designed for low to moderate income borrowers and supports extended households (relatives or non-relatives). This loan is more flexible and may help you and your extended family afford a home sooner. This loan offers:

  • The ability to use extended household income to qualify.
  • Financing as high as 97% LTV (loan to value) of the lesser of the purchase price or approved value.
  • Reduced Private Mortgage Insurance (PMI).
  • Reduced rates for some borrowers when compared to a 30 year fixed rate loan.
Learn More
Home Equity Line of Credit

Use the equity in your home to consolidate debt, pay for education, home improvements, and more. If you need a loan that offers extra predictability for your budget, Coastal's Home Equity Loan offers:

  • up to 100% Home Equity Line of Credit.
  • Fixed monthly payment, terms and interest for the life of the loan.
  • Reduced rates if opened simultaneously with a Coastal first mortgage.
Learn More
*Income limits may apply. HomeReady is a registered trademark of Fannie Mae.