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, Yauco, Aguadilla, Guayama, and Coco among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Latin American Financial Corporation has an above 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% | 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
67Origination Dollar Volume (All Markets)
$9,435,000Top 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) | 62 | $8,850,000 | $142,742 | $0 | 5.28% |
| YAUCO, PR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.25% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.25% |
| GUAYAMA, PR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.25% |
| Coco, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.75% |
| PONCE, PR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.00% |
Their top states include:
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 2022, Latin American Financial Corporation's most frequently originated type of loan was FHA, with 54 originations. Their 2nd most popular type was USDA, with 7 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 64 | $9,110,000 | $142,344 | $0 | 5.20% |
| Cash Out Refi | 2 | $260,000 | $130,000 | $0 | 5.00% |
| Refi | 1 | $65,000 | $65,000 | $0 | 6.50% |
For 2022, Latin American Financial Corporation's most frequently cited loan purpose was Home Purchase, with 64 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 | 67 | $9,435,000 | $140,821 | $0 | 5.21% |
For 2022, Latin American Financial Corporation's most frequently cited loan duration was 30 Year, with 67 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 23 | $2,995,000 | $130,217 |
| 6-7% | 17 | $2,375,000 | $139,706 |
| 3-4% | 16 | $2,380,000 | $148,750 |
| 4-5% | 11 | $1,685,000 | $153,182 |
During 2022, Latin American Financial Corporation's average interest rate for loans was 5.21%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.
Loan Sizing
2022 saw Latin American Financial Corporation place emphasis on $100k-200k loans with 41 originations, totaling $5,825,000 in origination value.
Applicant Income
Latin American Financial Corporation lent most frequently to those with incomes in the $50k or less range, with 38 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
Latin American Financial Corporation lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 47%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 66 | $9,340,000 | $141,515 | $0 | 5.20% |
| Black | 1 | $95,000 | $95,000 | $0 | 5.75% |
Approval Rates
Total approvals of all applications93.41%
Latin American Financial Corporation has an average approval rate.
Pick Rate
Approvals leading to origination73.13%
Latin American Financial Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 67 | $9,435,000 | $140,821 |