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 loans. Cooperativa A/c De Arecibo has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Juan, Arecibo, Aguadilla, Ponce, and Yauco among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa A/c De Arecibo has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 15 Year FHA Refi | 5.68% | 12/16/24 |
| 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
169Origination Dollar Volume (All Markets)
$19,545,000Top 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) | 110 | $13,640,000 | $124,000 | $0 | 4.03% |
| Arecibo, PR (FHA|USDA|VA) | 40 | $3,980,000 | $99,500 | $0 | 3.83% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 9 | $1,025,000 | $113,889 | $0 | 4.00% |
| PONCE, PR (FHA|USDA|VA) | 7 | $575,000 | $82,143 | $0 | 4.14% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.50% |
| Santa Isabel, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.58% |
| Coamo, PR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.25% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 164 | $18,770,000 | $114,451 | $0 | 4.00% |
| USDA | 3 | $345,000 | $115,000 | $0 | 3.42% |
| VA | 2 | $430,000 | $215,000 | $0 | 4.00% |
For 2021, Cooperativa A/c De Arecibo's most frequently originated type of loan was Conventional, with 164 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 140 | $15,830,000 | $113,071 | $0 | 4.05% |
| Refi | 29 | $3,715,000 | $128,103 | $0 | 3.67% |
For 2021, Cooperativa A/c De Arecibo's most frequently cited loan purpose was Home Purchase, with 140 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
For 2021, Cooperativa A/c De Arecibo's most frequently cited loan duration was 30 Year, with 130 originations. The 2nd most popular length was Other, with 22 originations.
Interest Rates
During 2021, Cooperativa A/c De Arecibo's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 78 originations.
Loan Sizing
2021 saw Cooperativa A/c De Arecibo place emphasis on $100,000 or less loans with 93 originations, totaling $6,485,000 in origination value.
Applicant Income
Cooperativa A/c De Arecibo lent most frequently to those with incomes in the $50k or less range, with 110 originations. The second most popular income band? $50k-75k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 128 | $15,250,000 | $119,141 | $0 | 4.05% |
| >60% | 41 | $4,295,000 | $104,756 | $0 | 3.80% |
Cooperativa A/c De Arecibo lent most frequently to those with DTI ratios of <20%, with 128 originations. The next most common DTI ratio? >60%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 168 | $19,490,000 | $116,012 | $0 | 3.98% |
| Not provided | 1 | $55,000 | $55,000 | $0 | 4.50% |
Approval Rates
Total approvals of all applications79.17%
Cooperativa A/c De Arecibo has a below average approval rate.
Pick Rate
Approvals leading to origination69.23%
Cooperativa A/c De Arecibo has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 12 | $1,220,000 | $101,667 |
| NA | 157 | $18,325,000 | $116,720 |