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, San GermÁn, Aguadilla, and Coco among others. We have data for 7 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 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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
116Origination Dollar Volume (All Markets)
$15,200,000Top 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) | 107 | $14,205,000 | $132,757 | $0 | 3.01% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 2.83% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 3.13% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
| Coco, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 2.75% |
| Santa Isabel, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 2.75% |
| PONCE, PR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $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 | 92 | $12,000,000 | $130,435 | $0 | 2.98% |
| USDA | 15 | $1,695,000 | $113,000 | $0 | 3.15% |
| VA | 9 | $1,505,000 | $167,222 | $0 | 3.08% |
For 2021, Latin American Financial Corporation's most frequently originated type of loan was FHA, with 92 originations. Their 2nd most popular type was USDA, with 15 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 111 | $14,615,000 | $131,667 | $0 | 3.01% |
| Cash Out Refi | 4 | $430,000 | $107,500 | $0 | 2.94% |
| Refi | 1 | $155,000 | $155,000 | $0 | 3.25% |
For 2021, Latin American Financial Corporation's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.
Loan Duration/Length
For 2021, Latin American Financial Corporation's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was Other, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 87 | $11,845,000 | $136,149 |
| 3-4% | 27 | $3,155,000 | $116,852 |
| 4-5% | 2 | $200,000 | $100,000 |
During 2021, Latin American Financial Corporation's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 87 originations.
Loan Sizing
2021 saw Latin American Financial Corporation place emphasis on $100k-200k loans with 83 originations, totaling $11,175,000 in origination value.
Applicant Income
Latin American Financial Corporation lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 28 originations.
Applicant Debt to Income Ratio
Latin American Financial Corporation lent most frequently to those with DTI ratios of 30-36%, with 19 originations. The next most common DTI ratio? 20-30%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 115 | $14,975,000 | $130,217 | $0 | 3.01% |
| Black | 1 | $225,000 | $225,000 | $0 | 3.00% |
Approval Rates
Total approvals of all applications87.12%
Latin American Financial Corporation has an average approval rate.
Pick Rate
Approvals leading to origination77.59%
Latin American Financial Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 116 | $15,200,000 | $131,034 |