Cooperativa A/c De Arecibo Mortgage Rates, Fees & Info
Arecibo,LEI: 549300DJS1VMO4NUS123
Tax ID: 66-0190521
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Mortgage Data
Review & Overview
Cooperativa A/c De Arecibo is a smaller mortgage company specializing in Home Purchase and Refi loans. Cooperativa A/c De Arecibo has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: San Juan, Arecibo, Ponce, Santa Isabel, and MayagÜez among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa A/c De Arecibo has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Cooperativa A/c De Arecibo 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 | 6.27% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year FHA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 30 Year USDA Purchase | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 15 Year FHA Refi | 5.68% | 5/4/24 |
| 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 A/c De Arecibo Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
60Origination Dollar Volume (All Markets)
$6,070,000Top 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) | 35 | $3,825,000 | $109,286 | $5,293 | 5.11% |
| Arecibo, PR (FHA|USDA|VA) | 20 | $1,890,000 | $94,500 | $4,313 | 4.72% |
| PONCE, PR (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,621 | 5.75% |
| Santa Isabel, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,321 | 4.25% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,500 | 5.00% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,387 | 5.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Cooperativa A/C de Arecibo 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
For 2018, Cooperativa A/c De Arecibo's most frequently originated type of loan was Conventional, with 53 originations. Their 2nd most popular type was USDA, with 4 originations.
Loan Reason
For 2018, Cooperativa A/c De Arecibo's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
For 2018, Cooperativa A/c De Arecibo's most frequently cited loan duration was 30 Year, with 36 originations. The 2nd most popular length was 15 Year, with 11 originations.
Origination Fees/Closing Costs
Cooperativa A/c De Arecibo's average total fees were $5,767, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 32 | $4,040,000 | $126,250 |
| 3-4% | 11 | $875,000 | $79,545 |
| 5-6% | 10 | $840,000 | $84,000 |
| 7-8% | 4 | $230,000 | $57,500 |
| 6-7% | 3 | $85,000 | $28,333 |
During 2018, Cooperativa A/c De Arecibo's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.
Loan Sizing
2018 saw Cooperativa A/c De Arecibo place emphasis on $100,000 or less loans with 38 originations, totaling $2,330,000 in origination value.
Applicant Income
Cooperativa A/c De Arecibo lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 14 originations.
Applicant Debt to Income Ratio
Cooperativa A/c De Arecibo lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? 42%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 59 | $5,725,000 | $97,034 | $4,788 | 4.99% |
| Black | 1 | $345,000 | $345,000 | $8,460 | 5.00% |
Approval Rates
Total approvals of all applications63.54%
Cooperativa A/c De Arecibo has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination98.33%
Cooperativa A/c De Arecibo 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 | 60 | $6,070,000 | $101,167 |