Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia Mortgage Rates, Fees & Info
Arecibo,LEI: 2549001FVJ5MZI4YAE11
Tax ID: 66-0227873
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia is a smaller mortgage company specializing in Home Purchase loans. Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top two markets are San Juan and Arecibo .Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.10% | 12/16/24 |
| 30 Year Conventional Refi | 7.91% | 12/16/24 |
| 30 Year FHA Purchase | 6.69% | 12/16/24 |
| 15 Year Conventional Purchase | 5.69% | 12/16/24 |
| 15 Year Conventional Refi | 7.05% | 12/16/24 |
| 15 Year Cash-out Refi | 7.05% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
26Origination Dollar Volume (All Markets)
$2,260,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 15 | $1,555,000 | $103,667 | $6,788 | 5.25% |
| Arecibo, PR (FHA|USDA|VA) | 11 | $705,000 | $64,091 | $9,350 | 5.10% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 16 | $1,250,000 | $78,125 | $8,221 | 5.95% |
| FHA | 8 | $860,000 | $107,500 | $6,965 | 3.88% |
| USDA | 2 | $150,000 | $75,000 | $8,705 | 4.32% |
For 2018, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently originated type of loan was Conventional, with 16 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $1,935,000 | $92,143 | $7,998 | 5.10% |
| Cash Out Refi | 3 | $165,000 | $55,000 | $9,046 | 7.00% |
| Refi | 2 | $160,000 | $80,000 | $4,786 | 3.38% |
For 2018, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 23 | $2,085,000 | $90,652 | $7,500 | 5.05% |
| 15 Year | 2 | $120,000 | $60,000 | $8,719 | 6.10% |
| Other | 1 | $55,000 | $55,000 | $14,730 | 6.50% |
For 2018, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 12 | $670,000 | $55,833 |
| $2k-3k | 4 | $300,000 | $75,000 |
| $<1k | 2 | $130,000 | $65,000 |
| $5k+ | 1 | $195,000 | $195,000 |
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average total fees were $7,500, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 11 | $585,000 | $53,182 |
| 3-4% | 9 | $1,105,000 | $122,778 |
| 4-5% | 3 | $395,000 | $131,667 |
| 2.5-3% | 1 | $55,000 | $55,000 |
| 5-6% | 1 | $65,000 | $65,000 |
| Over 8% | 1 | $55,000 | $55,000 |
During 2018, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.
Loan Sizing
2018 saw Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia place emphasis on $100,000 or less loans with 20 originations, totaling $1,220,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 41%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.67%
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination53.85%
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 26 | $2,260,000 | $86,923 |