Cooperativa De Ahorro Y Credito Roosevelt Roads Mortgage Rates, Fees & Info
FAJARDO,LEI: 54930076TYMG3Z3BO135
Tax ID: 66-0226689
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito Roosevelt Roads is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cooperativa De Ahorro Y Credito Roosevelt Roads has a high proportion of conventional loans. Their top (well, only) market is San Juan.Cooperativa De Ahorro Y Credito Roosevelt Roads has a below 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 Roosevelt Roads 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.
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% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 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 Roosevelt Roads Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6Origination Dollar Volume (All Markets)
$350,000Top 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) | 5 | $295,000 | $59,000 | $3,083 | 5.98% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $4,440 | 6.00% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 6 | $350,000 | $58,333 | $3,423 | 5.98% |
For 2020, Cooperativa De Ahorro Y Credito Roosevelt Roads's most frequently originated type of loan was Conventional, with 6 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 4 | $210,000 | $52,500 | $2,586 | 5.74% |
| Cash Out Refi | 2 | $140,000 | $70,000 | $4,259 | 6.48% |
For 2020, Cooperativa De Ahorro Y Credito Roosevelt Roads's most frequently cited loan purpose was Home Purchase, with 4 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 4 | $260,000 | $65,000 | $3,083 | 5.74% |
| 15 Year | 2 | $90,000 | $45,000 | $4,440 | 6.48% |
For 2020, Cooperativa De Ahorro Y Credito Roosevelt Roads's most frequently cited loan duration was 30 Year, with 4 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 2 | $110,000 | $55,000 |
| $2k-3k | 2 | $140,000 | $70,000 |
Cooperativa De Ahorro Y Credito Roosevelt Roads's average total fees were $3,083, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 3 | $165,000 | $55,000 |
| 6-7% | 2 | $120,000 | $60,000 |
| 3-4% | 1 | $65,000 | $65,000 |
During 2020, Cooperativa De Ahorro Y Credito Roosevelt Roads's average interest rate for loans was 5.74%, while their most frequently originated rate bucket for loans was 5-6%, with 3 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 6 | $350,000 | $58,333 | $3,423 | 5.98% |
2020 saw Cooperativa De Ahorro Y Credito Roosevelt Roads place emphasis on $100,000 or less loans with 6 originations, totaling $350,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 5 | $305,000 | $61,000 | $3,874 | 5.98% |
| $75k-100k | 1 | $45,000 | $45,000 | $2,067 | 6.00% |
Cooperativa De Ahorro Y Credito Roosevelt Roads lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $75k-100k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 3 | $165,000 | $55,000 | $3,254 | 6.00% |
| 20-30% | 2 | $120,000 | $60,000 | $4,077 | 6.95% |
| 43% | 1 | $65,000 | $65,000 | $3,106 | 4.00% |
Cooperativa De Ahorro Y Credito Roosevelt Roads lent most frequently to those with DTI ratios of <20%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Black | 3 | $205,000 | $68,333 | $4,259 | 6.32% |
| White | 3 | $145,000 | $48,333 | $2,586 | 5.65% |
Approval Rates
Total approvals of all applications58.33%
Cooperativa De Ahorro Y Credito Roosevelt Roads has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination83.33%
Cooperativa De Ahorro Y Credito Roosevelt Roads has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6 | $350,000 | $58,333 |