Latin American Financial Corporation Mortgage Rates, Fees & Info
San Juan,LEI: 549300GGK5S87EZ84P32
Tax ID: 66-0677190
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Mortgage Data
Review & Overview
Latin American Financial Corporation is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Latin American Financial Corporation has a low ratio of conventional loans. Their top markets by origination volume include: San Juan, Aguadilla, and Coamo among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Latin American Financial Corporation 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 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% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 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. | ||
Latin American Financial Corporation Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
87Origination Dollar Volume (All Markets)
$13,875,000Relative Rate
Latin American Financial Corporation's average 30 year fixed mortgage rate was
6.58%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.1%.
Top 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) | 83 | $13,235,000 | $159,458 | $0 | 6.56% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 7.08% |
| Coamo, PR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against LATIN AMERICAN FINANCIAL CORPORATION 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 2023, Latin American Financial Corporation's most frequently originated type of loan was FHA, with 70 originations. Their 2nd most popular type was VA, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 85 | $13,675,000 | $160,882 | $0 | 6.56% |
| Cash Out Refi | 2 | $200,000 | $100,000 | $0 | 7.00% |
For 2023, Latin American Financial Corporation's most frequently cited loan purpose was Home Purchase, with 85 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 | 86 | $13,710,000 | $159,419 | $0 | 6.58% |
| 20 Year | 1 | $165,000 | $165,000 | $0 | 6.25% |
For 2023, Latin American Financial Corporation's most frequently cited loan duration was 30 Year, with 86 originations. The 2nd most popular length was 20 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 62 | $10,060,000 | $162,258 |
| 7-8% | 13 | $1,955,000 | $150,385 |
| 5-6% | 11 | $1,765,000 | $160,455 |
| Over 8% | 1 | $95,000 | $95,000 |
During 2023, Latin American Financial Corporation's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was 6-7%, with 62 originations.
Loan Sizing
2023 saw Latin American Financial Corporation place emphasis on $100k-200k loans with 62 originations, totaling $8,910,000 in origination value.
Applicant Income
Latin American Financial Corporation lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 28 originations.
Applicant Debt to Income Ratio
Latin American Financial Corporation lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 82 | $12,870,000 | $156,951 | $0 | 6.55% |
| Black | 5 | $1,005,000 | $201,000 | $0 | 6.85% |
Approval Rates
Total approvals of all applications86.32%
Latin American Financial Corporation has an average approval rate.
Pick Rate
Approvals leading to origination85.06%
Latin American Financial Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 87 | $13,875,000 | $159,483 |