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 also have a high ratio of USDA loans. Their top two markets are San Juan and Coco .Cooperativa De Ahorro Y Credito Las Piedras has an above average approval rate when compared to the average across all lenders. Cooperativa De Ahorro Y Credito Las Piedras is typically a low 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 | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 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 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
20Origination Dollar Volume (All Markets)
$2,080,000Top 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) | 18 | $1,870,000 | $103,889 | $4,522 | 5.04% |
| Coco, PR (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,238 | 4.44% |
Their top states include:
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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 | 13 | $1,375,000 | $105,769 | $4,717 | 5.44% |
| USDA | 7 | $705,000 | $100,714 | $3,793 | 4.13% |
For 2019, Cooperativa De Ahorro Y Credito Las Piedras's most frequently originated type of loan was Conventional, with 13 originations. Their 2nd most popular type was USDA, with 7 originations.
Loan Reason
For 2019, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 16 | $1,840,000 | $115,000 | $4,395 | 4.76% |
| 15 Year | 3 | $165,000 | $55,000 | $3,749 | 6.00% |
| 30+ year | 1 | $75,000 | $75,000 | $6,300 | 5.50% |
For 2019, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan duration was 30 Year, with 16 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 10 | $740,000 | $74,000 |
| $<1k | 6 | $620,000 | $103,333 |
| $2k-3k | 2 | $240,000 | $120,000 |
| $3k-4k | 1 | $145,000 | $145,000 |
| $5k+ | 1 | $335,000 | $335,000 |
Cooperativa De Ahorro Y Credito Las Piedras's average total fees were $4,395, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 10 | $840,000 | $84,000 |
| 3-4% | 5 | $495,000 | $99,000 |
| 4-5% | 4 | $690,000 | $172,500 |
| 7-8% | 1 | $55,000 | $55,000 |
During 2019, Cooperativa De Ahorro Y Credito Las Piedras's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 5-6%, with 10 originations.
Loan Sizing
2019 saw Cooperativa De Ahorro Y Credito Las Piedras place emphasis on $100,000 or less loans with 11 originations, totaling $755,000 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 12 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Las Piedras lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 20 | $2,080,000 | $104,000 | $4,394 | 4.98% |
Approval Rates
Total approvals of all applications91.30%
Cooperativa De Ahorro Y Credito Las Piedras has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 20 | $2,080,000 | $104,000 |