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 and Cash Out Refi loans. Cooperativa De Ahorro Y Credito Las Piedras has a high proportion of conventional 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. They have a below average pick rate when compared to similar 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% | 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)
$3,010,000Top 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) | 26 | $2,440,000 | $93,846 | $3,975 | 4.03% |
| Coco, PR (FHA|USDA|VA) | 6 | $570,000 | $95,000 | $2,475 | 4.25% |
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 | 24 | $2,120,000 | $88,333 | $3,475 | 4.36% |
| USDA | 8 | $890,000 | $111,250 | $4,351 | 3.19% |
For 2020, Cooperativa De Ahorro Y Credito Las Piedras's most frequently originated type of loan was Conventional, with 24 originations. Their 2nd most popular type was USDA, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 22 | $2,030,000 | $92,273 | $3,460 | 4.08% |
| Cash Out Refi | 8 | $740,000 | $92,500 | $4,122 | 4.19% |
| Refi | 2 | $240,000 | $120,000 | $4,552 | 3.50% |
For 2020, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2020, Cooperativa De Ahorro Y Credito Las Piedras's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito Las Piedras's average total fees were $3,800, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 11 | $1,085,000 | $98,636 |
| 4-5% | 11 | $855,000 | $77,727 |
| 2.5-3% | 6 | $730,000 | $121,667 |
| 5-6% | 3 | $305,000 | $101,667 |
| 6-7% | 1 | $35,000 | $35,000 |
During 2020, Cooperativa De Ahorro Y Credito Las Piedras's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 11 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 19 | $1,285,000 | $67,632 | $2,670 | 4.30% |
| $100k-200k | 13 | $1,725,000 | $132,692 | $5,191 | 3.73% |
2020 saw Cooperativa De Ahorro Y Credito Las Piedras place emphasis on $100,000 or less loans with 19 originations, totaling $1,285,000 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 21 originations. The second most popular income band? $50k-75k, with 6 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 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.18%
Cooperativa De Ahorro Y Credito Las Piedras has an average approval rate.
Pick Rate
Approvals leading to origination75.00%
Cooperativa De Ahorro Y Credito Las Piedras has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 32 | $3,010,000 | $94,063 |