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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
35Origination Dollar Volume (All Markets)
$5,075,000Top 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) | 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% |
Their top states include:
Similar Lenders
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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
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
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
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
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
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 applications97.50%
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 origination94.29%
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 |