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 San GermÁn .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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 5.68% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 11/22/24 |
| 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
13Origination Dollar Volume (All Markets)
$1,645,000Top 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) | 12 | $1,490,000 | $124,167 | $5,915 | 5.52% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,649 | 4.00% |
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 | 13 | $1,645,000 | $126,538 | $6,049 | 5.40% |
For 2021, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently originated type of loan was Conventional, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 9 | $1,275,000 | $141,667 | $6,342 | 5.31% |
| Refi | 4 | $370,000 | $92,500 | $5,388 | 5.63% |
For 2021, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan purpose was Home Purchase, with 9 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2021, Cooperativa De Ahorro Y Credito La Aiboniteña's most frequently cited loan duration was 30 Year, with 8 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $390,000 | $97,500 |
| $2k-3k | 3 | $405,000 | $135,000 |
| $3k-4k | 1 | $155,000 | $155,000 |
| $5k+ | 1 | $255,000 | $255,000 |
Cooperativa De Ahorro Y Credito La Aiboniteña's average total fees were $6,503, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 5 | $705,000 | $141,000 |
| 4-5% | 3 | $155,000 | $51,667 |
| 3-4% | 2 | $310,000 | $155,000 |
| 6-7% | 2 | $390,000 | $195,000 |
| 7-8% | 1 | $85,000 | $85,000 |
During 2021, Cooperativa De Ahorro Y Credito La Aiboniteña's average interest rate for loans was 5.88%, while their most frequently originated rate bucket for loans was 5-6%, with 5 originations.
Loan Sizing
2021 saw Cooperativa De Ahorro Y Credito La Aiboniteña place emphasis on $100,000 or less loans with 6 originations, totaling $380,000 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 6 originations. The second most popular income band? $150k-250k, with 2 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 2 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 13 | $1,645,000 | $126,538 | $6,049 | 5.40% |
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 origination76.92%
Cooperativa De Ahorro Y Credito La Aiboniteña has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 13 | $1,645,000 | $126,538 |