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Adjustable Rate Mortgage

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

An initial interest rate that’s lower on average than a fixed-rate mortgage
An initial interest rate that’s lower on average than a fixed-rate mortgage
Thus reducing initial monthly mortgage payments and saving you money.
We offer 5/1, 5/5, 7/1 and 10/1 ARM products.
We offer 5/1, 5/5, 7/1 and 10/1 ARM products.
This means that, for example, the rate and payment for a 5/1 ARM will be fixed for 5 years and then change annually after that according to your loan terms.
Financing as high as 97% LTV (loan to value) of the lesser of the purchase price or approved value
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.

Other Key Coastal differentiators:

  • 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.
Adjustable Rate Mortgage.
To learn more about our mortgages, to apply online or to connect with a Mortgage Loan Officer closest to you, please select from the options below: