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, Aguadilla, and San GermÁn among others. We have data for 4 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. They have an above average pick rate when compared to similar 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






Your Estimates

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This is not an official calculator from Cooperativa De Ahorro Y Credito De Manati. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

35

Origination Dollar Volume (All Markets)

$5,075,000

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) 29 $4,385,000 $151,207 $7,634 4.82%
Arecibo, PR (FHA|USDA|VA) 3 $405,000 $135,000 $7,957 4.58%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 2 $180,000 $90,000 $5,614 4.75%
SAN GERMÁN, PR (FHA|USDA|VA) 1 $105,000 $105,000 $3,176 4.00%
Cooperativa De Ahorro Y Credito De Manati's top markets include San Juan, Arecibo, Aguadilla, and San GermÁn among others.

Their top states include:
  • Puerto Rico (FHA|USDA|VA)
  • 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.

    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $5,075,000 $145,000 $7,419 4.77%

    For 2021, Cooperativa De Ahorro Y Credito De Manati's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $2,865,000 $150,789 $7,706 4.79%
    Cash Out Refi 16 $2,210,000 $138,125 $7,078 4.75%

    For 2021, Cooperativa De Ahorro Y Credito De Manati's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 28 $4,320,000 $154,286 $7,875 4.70%
    15 Year 2 $270,000 $135,000 $6,931 4.63%
    20 Year 2 $230,000 $115,000 $5,812 5.50%
    10 Year 1 $75,000 $75,000 $5,381 5.50%
    5 Year 1 $25,000 $25,000 $2,035 5.50%
    Other 1 $155,000 $155,000 $6,265 4.00%

    For 2021, Cooperativa De Ahorro Y Credito De Manati's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 16 $1,730,000 $108,125
    $2k-3k 7 $945,000 $135,000
    $3k-4k 7 $1,365,000 $195,000
    $<1k 2 $70,000 $35,000
    $4k-5k 2 $640,000 $320,000
    $5k+ 1 $325,000 $325,000

    Cooperativa De Ahorro Y Credito De Manati's average total fees were $7,875, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 12 $2,050,000 $170,833
    4-5% 12 $1,750,000 $145,833
    5-6% 11 $1,275,000 $115,909

    During 2021, Cooperativa De Ahorro Y Credito De Manati's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 3-4%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 16 $2,370,000 $148,125 $6,676 4.54%
    $100,000 or less 12 $850,000 $70,833 $5,297 5.13%
    $200k-400k 7 $1,855,000 $265,000 $12,756 4.68%

    2021 saw Cooperativa De Ahorro Y Credito De Manati place emphasis on $100k-200k loans with 16 originations, totaling $2,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 9 $855,000 $95,000 $4,901 4.92%
    $100k-150k 8 $1,550,000 $193,750 $9,196 5.09%
    $50k-75k 8 $990,000 $123,750 $7,599 4.63%
    $150k-250k 5 $945,000 $189,000 $9,071 4.64%
    $75k-100k 5 $735,000 $147,000 $7,169 4.35%

    Cooperativa De Ahorro Y Credito De Manati lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,395,000 $155,000 $8,961 4.81%
    <20% 7 $1,005,000 $143,571 $6,914 4.71%
    20-30% 4 $530,000 $132,500 $6,657 4.94%
    50-60% 3 $355,000 $118,333 $5,331 4.83%
    41% 2 $480,000 $240,000 $12,466 4.13%
    40% 1 $155,000 $155,000 $6,265 4.00%
    42% 1 $95,000 $95,000 $5,433 5.00%
    44% 1 $185,000 $185,000 $8,083 5.50%
    47% 1 $55,000 $55,000 $3,884 5.00%
    49% 1 $105,000 $105,000 $5,842 5.00%
    >60% 1 $145,000 $145,000 $5,555 4.00%
    36% 1 $205,000 $205,000 $8,977 5.50%
    37% 1 $95,000 $95,000 $5,917 5.25%
    38% 1 $105,000 $105,000 $5,676 5.00%
    39% 1 $165,000 $165,000 $7,444 3.95%

    Cooperativa De Ahorro Y Credito De Manati lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? <20%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $5,075,000 $145,000 $7,419 4.77%

    Approval Rates

    Total approvals of all applications
    97.50%

    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 origination
    94.29%

    Cooperativa De Ahorro Y Credito De Manati has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 35 $5,075,000 $145,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    35 $5,075,000 $145,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $3,542 5.50%
    40-60% 2 $260,000 $130,000 $6,732 5.50%
    60-80% 9 $1,065,000 $118,333 $5,780 4.91%
    80-100% 23 $3,705,000 $161,087 $8,289 4.62%