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 markets by origination volume include: San Juan, Arecibo, and San GermÁn among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia has a below average approval rate when compared to the average across all 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 relatively high 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
62Origination Dollar Volume (All Markets)
$4,730,000Top 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) | 43 | $3,455,000 | $80,349 | $7,654 | 5.41% |
| Arecibo, PR (FHA|USDA|VA) | 18 | $1,160,000 | $64,444 | $6,349 | 5.16% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,412 | 5.25% |
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 | 59 | $4,415,000 | $74,831 | $7,112 | 5.33% |
| FHA | 3 | $315,000 | $105,000 | $10,073 | 5.50% |
For 2022, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently originated type of loan was Conventional, with 59 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 | 57 | $4,405,000 | $77,281 | $7,458 | 5.37% |
| Refi | 4 | $310,000 | $77,500 | $5,626 | 4.56% |
| Other | 1 | $15,000 | $15,000 | $2,171 | 6.75% |
For 2022, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2022, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 50 | $3,250,000 | $65,000 |
| $1k-2k | 10 | $1,190,000 | $119,000 |
| $2k-3k | 1 | $205,000 | $205,000 |
| $5k+ | 1 | $85,000 | $85,000 |
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average total fees were $7,506, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 50 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 27 | $1,925,000 | $71,296 |
| 4-5% | 18 | $1,350,000 | $75,000 |
| 6-7% | 13 | $1,075,000 | $82,692 |
| 3-4% | 3 | $215,000 | $71,667 |
| 7-8% | 1 | $165,000 | $165,000 |
During 2022, Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia's average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 5-6%, with 27 originations.
Loan Sizing
2022 saw Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia place emphasis on $100,000 or less loans with 52 originations, totaling $3,400,000 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 53 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Dr. Manuel Zeno Gandia lent most frequently to those with DTI ratios of >60%, with 47 originations. The next most common DTI ratio? 50-60%, with 11 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.89%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $4,730,000 | $76,290 |