Cooperativa De Ahorro Y Credito De Manati Mortgage Rates, Fees & Info
Manati,LEI: 5493000L4JCTDWD6WT73
Tax ID: 66-0220429
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito De Manati is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cooperativa De Ahorro Y Credito De Manati has a high proportion of conventional loans. Their top markets by origination volume include: San Juan, Arecibo, and MayagÜez 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 De Manati has an above average approval rate when compared to the average across all lenders. Cooperativa De Ahorro Y Credito De Manati 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.
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 | 5.67% | 10/29/24 |
| 30 Year Conventional Refi | 6.27% | 10/29/24 |
| 30 Year Cash-out Refi | 6.12% | 10/29/24 |
| 15 Year Conventional Purchase | 3.91% | 10/29/24 |
| 15 Year Conventional Refi | 3.58% | 10/29/24 |
| 15 Year Cash-out Refi | 3.58% | 10/29/24 |
| 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 De Manati Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
36Origination Dollar Volume (All Markets)
$4,030,000Awards
COOPERATIVA DE AHORRO Y CREDITO DE MANATI - 2018
COOPERATIVA DE AHORRO Y CREDITO DE MANATI is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 31 | $3,575,000 | $115,323 | $6,009 | 5.01% |
| Arecibo, PR (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $4,001 | 5.00% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,891 | 5.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO DE MANATI 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 | 36 | $4,030,000 | $111,944 | $5,762 | 5.01% |
For 2018, Cooperativa De Ahorro Y Credito De Manati's most frequently originated type of loan was Conventional, with 36 originations.
Loan Reason
For 2018, Cooperativa De Ahorro Y Credito De Manati's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Loan Duration/Length
For 2018, Cooperativa De Ahorro Y Credito De Manati's most frequently cited loan duration was 30 Year, with 27 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito De Manati's average total fees were $5,713, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 27 | $3,425,000 | $126,852 |
| 5-6% | 9 | $605,000 | $67,222 |
During 2018, Cooperativa De Ahorro Y Credito De Manati's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 4-5%, with 27 originations.
Loan Sizing
2018 saw Cooperativa De Ahorro Y Credito De Manati place emphasis on $100,000 or less loans with 23 originations, totaling $1,405,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito De Manati lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito De Manati lent most frequently to those with DTI ratios of <20%, with 6 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 34 | $3,890,000 | $114,412 | $5,859 | 5.01% |
| Black | 2 | $140,000 | $70,000 | $4,262 | 5.00% |
Approval Rates
Total approvals of all applications97.30%
Cooperativa De Ahorro Y Credito De Manati has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1603.95 | 1 | $75,000 | $75,000 |
| 2375.0 | 1 | $135,000 | $135,000 |
| 2725.0 | 1 | $65,000 | $65,000 |
| NA | 33 | $3,755,000 | $113,788 |