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 an average proportion of FHA loans. Their top two markets are San Juan and Arecibo .Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has an 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% | 11/17/24 |
| 30 Year Conventional Refi | 7.91% | 11/17/24 |
| 30 Year FHA Purchase | 6.69% | 11/17/24 |
| 15 Year Conventional Purchase | 5.69% | 11/17/24 |
| 15 Year Conventional Refi | 7.05% | 11/17/24 |
| 15 Year Cash-out Refi | 7.05% | 11/17/24 |
| 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
35Origination Dollar Volume (All Markets)
$2,965,000Top 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) | 22 | $2,130,000 | $96,818 | $6,639 | 4.81% |
| Arecibo, PR (FHA|USDA|VA) | 13 | $835,000 | $64,231 | $4,779 | 4.32% |
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 | 30 | $2,580,000 | $86,000 | $5,705 | 4.89% |
| FHA | 3 | $225,000 | $75,000 | $8,554 | 3.33% |
| USDA | 2 | $160,000 | $80,000 | $6,155 | 3.00% |
For 2021, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 33 | $2,835,000 | $85,909 | $6,068 | 4.60% |
| Refi | 2 | $130,000 | $65,000 | $4,610 | 5.23% |
For 2021, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2021, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average total fees were $6,184, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 20 | $1,830,000 | $91,500 |
| 3-4% | 7 | $455,000 | $65,000 |
| 2.5-3% | 3 | $265,000 | $88,333 |
| 5-6% | 2 | $150,000 | $75,000 |
| 6-7% | 1 | $55,000 | $55,000 |
| 7-8% | 1 | $165,000 | $165,000 |
During 2021, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 20 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 27 | $1,945,000 | $72,037 | $4,986 | 4.61% |
| $100k-200k | 8 | $1,020,000 | $127,500 | $9,220 | 4.74% |
2021 saw Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia place emphasis on $100,000 or less loans with 27 originations, totaling $1,945,000 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 31 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $2,385,000 | $88,333 | $6,328 | 4.62% |
| Black | 8 | $580,000 | $72,500 | $4,651 | 4.70% |
Approval Rates
Total approvals of all applications88.68%
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has an average approval rate.
Pick Rate
Approvals leading to origination65.71%
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 | 35 | $2,965,000 | $84,714 |