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. Their top markets by origination volume include: San Juan, MayagÜez, Arecibo, Aguadilla, and Ponce among others. We have data for 5 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. Latin American Financial Corporation 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% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 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. | ||
Latin American Financial Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
88Origination Dollar Volume (All Markets)
$9,780,000Top 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) | 83 | $9,115,000 | $109,819 | $5,493 | 3.82% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.75% |
| Arecibo, PR (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 3.88% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,309 | 5.00% |
| PONCE, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 2.75% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 67 | $7,655,000 | $114,254 | $6,107 | 3.72% |
| USDA | 20 | $1,990,000 | $99,500 | $4,611 | 4.13% |
| VA | 1 | $135,000 | $135,000 | $5,687 | 3.75% |
For 2020, Latin American Financial Corporation's most frequently originated type of loan was FHA, with 67 originations. Their 2nd most popular type was USDA, with 20 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 88 | $9,780,000 | $111,136 | $5,558 | 3.81% |
For 2020, Latin American Financial Corporation's most frequently cited loan purpose was Home Purchase, with 88 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 86 | $9,640,000 | $112,093 | $5,634 | 3.80% |
| 15 Year | 2 | $140,000 | $70,000 | $3,503 | 4.25% |
For 2020, Latin American Financial Corporation's most frequently cited loan duration was 30 Year, with 86 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 | 14 | $1,410,000 | $100,714 |
| $1k-2k | 8 | $740,000 | $92,500 |
| $2k-3k | 3 | $365,000 | $121,667 |
| $3k-4k | 3 | $245,000 | $81,667 |
Latin American Financial Corporation's average total fees were $5,634, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 32 | $2,980,000 | $93,125 |
| 3-4% | 30 | $3,250,000 | $108,333 |
| 2.5-3% | 26 | $3,550,000 | $136,538 |
During 2020, Latin American Financial Corporation's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.
Loan Sizing
2020 saw Latin American Financial Corporation place emphasis on $100k-200k loans with 47 originations, totaling $6,155,000 in origination value.
Applicant Income
Latin American Financial Corporation lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
Latin American Financial Corporation lent most frequently to those with DTI ratios of 30-36%, with 15 originations. The next most common DTI ratio? 44%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 79 | $8,835,000 | $111,835 | $5,468 | 3.82% |
| Black | 8 | $810,000 | $101,250 | $6,734 | 3.69% |
| Asian | 1 | $135,000 | $135,000 | $0 | 4.00% |
Approval Rates
Total approvals of all applications86.26%
Latin American Financial Corporation has an average approval rate.
Pick Rate
Approvals leading to origination76.14%
Latin American Financial Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 88 | $9,780,000 | $111,136 |