Vig Mortgage Corporation Rates, Fees & Info
GUAYNABO,LEI: 5493003QFITYKWYBFG30
Tax ID: 66-0737374
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Mortgage Data
Review & Overview
Vig Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Vig Mortgage Corporation has an average proportion of conventional loans. Their top markets by origination volume include: San Juan, Aguadilla, Guayama, Ponce, and Coamo among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Vig Mortgage Corporation has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Vig Mortgage Corporation 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 | 11.77% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 11.68% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 11.11% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 11.58% | 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. | ||
Vig Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
201Origination Dollar Volume (All Markets)
$29,935,000Top 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) | 173 | $26,065,000 | $150,665 | $7,716 | 3.35% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 11 | $1,685,000 | $153,182 | $6,700 | 3.67% |
| Outside of Metro Areas | 1 | $515,000 | $515,000 | $15,286 | 3.25% |
| GUAYAMA, PR (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $6,902 | 3.50% |
| PONCE, PR (FHA|USDA|VA) | 4 | $360,000 | $90,000 | $4,541 | 3.50% |
| Coamo, PR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $8,647 | 3.00% |
| Arecibo, PR (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $4,740 | 3.58% |
| Santa Isabel, PR (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,715 | 3.75% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,866 | 3.25% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,622 | 3.50% |
Their top states include:
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Product Mix
For 2021, Vig Mortgage Corporation's most frequently originated type of loan was FHA, with 119 originations. Their 2nd most popular type was USDA, with 42 originations.
Loan Reason
For 2021, Vig Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
For 2021, Vig Mortgage Corporation's most frequently cited loan duration was 30 Year, with 190 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Vig Mortgage Corporation's average total fees were $7,470, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 51 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 121 | $17,095,000 | $141,281 |
| 2.5-3% | 67 | $11,035,000 | $164,701 |
| 4-5% | 7 | $765,000 | $109,286 |
| <2.5% | 4 | $880,000 | $220,000 |
| 5-6% | 2 | $160,000 | $80,000 |
During 2021, Vig Mortgage Corporation's average interest rate for loans was 3.41%, while their most frequently originated rate bucket for loans was 3-4%, with 121 originations.
Loan Sizing
2021 saw Vig Mortgage Corporation place emphasis on $100k-200k loans with 121 originations, totaling $16,555,000 in origination value.
Applicant Income
Vig Mortgage Corporation lent most frequently to those with incomes in the $50k or less range, with 121 originations. The second most popular income band? $50k-75k, with 37 originations.
Applicant Debt to Income Ratio
Vig Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 47 originations. The next most common DTI ratio? 20-30%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.07%
Vig Mortgage Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination74.13%
Vig Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 201 | $29,935,000 | $148,930 |