Cooperativa De Ahorro Y Credito Las Piedras Mortgage Rates, Fees & Info
Las Piedras,LEI: 5493000DYWSEQXSQ3736
Tax ID: 66-0313273
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito Las Piedras is a smaller mortgage company specializing in Home Purchase loans. Cooperativa De Ahorro Y Credito Las Piedras has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Juan, San GermÁn, and Aguadilla 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 Las Piedras 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 Las Piedras 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.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 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 Las Piedras Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
32Origination Dollar Volume (All Markets)
$2,790,000Awards
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS - 2023
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Cooperativa De Ahorro Y Credito Las Piedras's average 30 year fixed mortgage rate was
6.2%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.28%.
Relative Fees (Closing Costs)
Cooperativa De Ahorro Y Credito Las Piedras's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,081.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top 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) | 30 | $2,570,000 | $85,667 | $5,094 | 6.19% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,041 | 6.00% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,977 | 5.95% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS 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 | 31 | $2,695,000 | $86,935 | $5,170 | 6.21% |
| USDA | 1 | $95,000 | $95,000 | $4,594 | 5.25% |
For 2023, Cooperativa De Ahorro Y Credito Las Piedras's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 27 | $2,205,000 | $81,667 | $4,923 | 6.29% |
| Refi | 3 | $395,000 | $131,667 | $7,106 | 5.50% |
| Cash Out Refi | 2 | $190,000 | $95,000 | $5,305 | 5.75% |
For 2023, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 31 | $2,665,000 | $85,968 | $5,081 | 6.20% |
| 20 Year | 1 | $125,000 | $125,000 | $7,350 | 5.50% |
For 2023, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan duration was 30 Year, with 31 originations. The 2nd most popular length was 20 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 17 | $1,425,000 | $83,824 |
| $1k-2k | 10 | $670,000 | $67,000 |
| $3k-4k | 4 | $510,000 | $127,500 |
| $5k+ | 1 | $185,000 | $185,000 |
Cooperativa De Ahorro Y Credito Las Piedras's average total fees were $5,081, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 16 | $1,210,000 | $75,625 |
| 5-6% | 15 | $1,525,000 | $101,667 |
| 7-8% | 1 | $55,000 | $55,000 |
During 2023, Cooperativa De Ahorro Y Credito Las Piedras's average interest rate for loans was 6.20%, while their most frequently originated rate bucket for loans was 6-7%, with 16 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 25 | $1,885,000 | $75,400 | $4,707 | 6.28% |
| $100k-200k | 7 | $905,000 | $129,286 | $6,741 | 5.81% |
2023 saw Cooperativa De Ahorro Y Credito Las Piedras place emphasis on $100,000 or less loans with 25 originations, totaling $1,885,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito Las Piedras lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $250k+, with 2 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Las Piedras lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 38%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $2,315,000 | $85,741 | $5,076 | 6.22% |
| American Indian | 5 | $475,000 | $95,000 | $5,561 | 5.94% |
Approval Rates
Total approvals of all applications80.77%
Cooperativa De Ahorro Y Credito Las Piedras has a below average approval rate.
Pick Rate
Approvals leading to origination68.75%
Cooperativa De Ahorro Y Credito Las Piedras 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 | 32 | $2,790,000 | $87,188 |