Cooperativa De Ahorro Y Credito La Aiboniteña Mortgage Rates, Fees & Info
Aibonito,LEI: 5493006Q452T1FESHO34
Tax ID: 66-0213182
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito La Aiboniteña is a smaller mortgage company specializing in Home Purchase and Refi loans. Cooperativa De Ahorro Y Credito La Aiboniteña has a high proportion of conventional loans. Their top two markets are San Juan and Guayama .Cooperativa De Ahorro Y Credito La Aiboniteña 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 La Aiboniteña 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 relatively high 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 | 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 La Aiboniteña Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
23Origination Dollar Volume (All Markets)
$2,185,000Awards
Cooperativa De Ahorro Y Credito La Aiboniteña - 2023
Cooperativa De Ahorro Y Credito La Aiboniteña is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Cooperativa De Ahorro Y Credito La Aiboniteña's average 30 year fixed mortgage rate was
6.93%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.45%.
Relative Fees (Closing Costs)
Cooperativa De Ahorro Y Credito La Aiboniteña's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,867.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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) | 22 | $2,090,000 | $95,000 | $7,191 | 6.59% |
| GUAYAMA, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $7,323 | 6.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Cooperativa De Ahorro Y Credito La Aiboniteña 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 | 23 | $2,185,000 | $95,000 | $7,197 | 6.57% |
For 2023, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 19 | $1,605,000 | $84,474 | $7,350 | 6.53% |
| Refi | 3 | $445,000 | $148,333 | $6,923 | 6.42% |
| Other | 1 | $135,000 | $135,000 | $5,265 | 7.75% |
For 2023, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
For 2023, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan duration was 30 Year, with 17 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 9 | $575,000 | $63,889 |
| $2k-3k | 8 | $840,000 | $105,000 |
| $<1k | 2 | $60,000 | $30,000 |
| $5k+ | 2 | $430,000 | $215,000 |
| $3k-4k | 1 | $135,000 | $135,000 |
Cooperativa De Ahorro Y Credito La Aiboniteña's average total fees were $5,867, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 7 | $435,000 | $62,143 |
| 7-8% | 7 | $555,000 | $79,286 |
| 5-6% | 6 | $740,000 | $123,333 |
| 4-5% | 2 | $330,000 | $165,000 |
| Over 8% | 1 | $125,000 | $125,000 |
During 2023, Cooperativa De Ahorro Y Credito La Aiboniteña's average interest rate for loans was 6.93%, while their most frequently originated rate bucket for loans was 6-7%, with 7 originations.
Loan Sizing
2023 saw Cooperativa De Ahorro Y Credito La Aiboniteña place emphasis on $100,000 or less loans with 14 originations, totaling $900,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito La Aiboniteña lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito La Aiboniteña lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 43%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $2,185,000 | $95,000 | $7,197 | 6.57% |
Approval Rates
Total approvals of all applications100.00%
Cooperativa De Ahorro Y Credito La Aiboniteña has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.65%
Cooperativa De Ahorro Y Credito La Aiboniteña has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 23 | $2,185,000 | $95,000 |