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, Refi, and Cash Out Refi loans. Cooperativa De Ahorro Y Credito La Aiboniteña has a high proportion of conventional loans. Their top markets by origination volume include: San Juan, Coamo, San GermÁn, and Ponce 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 La Aiboniteña has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cooperativa De Ahorro Y Credito La Aiboniteña is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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
18Origination Dollar Volume (All Markets)
$1,500,000Top 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) | 13 | $1,125,000 | $86,538 | $4,209 | 5.05% |
| Coamo, PR (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $3,562 | 4.33% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $15,306 | 4.25% |
| PONCE, PR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,984 | 7.75% |
Their top states include:
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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 | 18 | $1,500,000 | $83,333 | $4,594 | 5.04% |
For 2019, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $575,000 | $82,143 | $5,642 | 5.49% |
| Refi | 7 | $565,000 | $80,714 | $3,926 | 4.57% |
| Cash Out Refi | 4 | $360,000 | $90,000 | $3,928 | 5.06% |
For 2019, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2019, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan duration was 15 Year, with 7 originations. The 2nd most popular length was 30 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 8 | $420,000 | $52,500 |
| $1k-2k | 8 | $800,000 | $100,000 |
| $2k-3k | 1 | $145,000 | $145,000 |
| $5k+ | 1 | $135,000 | $135,000 |
Cooperativa De Ahorro Y Credito La Aiboniteña's average total fees were $4,164, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 11 | $1,015,000 | $92,273 |
| 5-6% | 3 | $225,000 | $75,000 |
| 3-4% | 2 | $160,000 | $80,000 |
| 6-7% | 1 | $65,000 | $65,000 |
| 7-8% | 1 | $35,000 | $35,000 |
During 2019, Cooperativa De Ahorro Y Credito La Aiboniteña's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 4-5%, with 11 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 13 | $805,000 | $61,923 | $3,253 | 5.15% |
| $100k-200k | 5 | $695,000 | $139,000 | $8,080 | 4.75% |
2019 saw Cooperativa De Ahorro Y Credito La Aiboniteña place emphasis on $100,000 or less loans with 13 originations, totaling $805,000 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 7 originations. The second most popular income band? $50k-75k, with 4 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? 42%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 18 | $1,500,000 | $83,333 | $4,594 | 5.04% |
Approval Rates
Total approvals of all applications91.30%
Cooperativa De Ahorro Y Credito La Aiboniteña has an average approval rate.
Pick Rate
Approvals leading to origination83.33%
Cooperativa De Ahorro Y Credito La Aiboniteña has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 18 | $1,500,000 | $83,333 |