Cooperativa De A/c De Maunabo Mortgage Rates, Fees & Info
Maunabo,LEI: 549300GXIH93QAIAWV16
Tax ID: 66-0271958
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Mortgage Data
Review & Overview
Cooperativa De A/c De Maunabo is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cooperativa De A/c De Maunabo has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Guayama, San Juan, and Ponce among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa De A/c De Maunabo has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cooperativa De A/c De Maunabo 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 relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 7.50% | 11/22/24 |
| 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 De A/c De Maunabo Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
17Origination Dollar Volume (All Markets)
$1,755,000Relative Rate
Cooperativa De A/c De Maunabo's average 30 year fixed mortgage rate was
6.83%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.35%.
Relative Fees (Closing Costs)
Cooperativa De A/c De Maunabo's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,130.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| GUAYAMA, PR (FHA|USDA|VA) | 12 | $1,110,000 | $92,500 | $4,639 | 6.95% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $6,387 | 6.66% |
| PONCE, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,127 | 6.55% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $1,635,000 | $109,000 | $5,551 | 6.91% |
| VA | 1 | $65,000 | $65,000 | $0 | 6.35% |
| USDA | 1 | $55,000 | $55,000 | $505 | 6.50% |
For 2023, Cooperativa De A/c De Maunabo's most frequently originated type of loan was Conventional, with 15 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 8 | $730,000 | $91,250 | $4,983 | 6.61% |
| Cash Out Refi | 8 | $840,000 | $105,000 | $5,222 | 7.02% |
| Other | 1 | $185,000 | $185,000 | $0 | 7.50% |
For 2023, Cooperativa De A/c De Maunabo's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2023, Cooperativa De A/c De Maunabo's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $3k-4k | 5 | $575,000 | $115,000 |
| $2k-3k | 3 | $265,000 | $88,333 |
| $<1k | 1 | $85,000 | $85,000 |
| $1k-2k | 1 | $65,000 | $65,000 |
| $4k-5k | 1 | $145,000 | $145,000 |
Cooperativa De A/c De Maunabo's average total fees were $5,130, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 12 | $1,170,000 | $97,500 |
| 7-8% | 5 | $585,000 | $117,000 |
During 2023, Cooperativa De A/c De Maunabo's average interest rate for loans was 6.83%, while their most frequently originated rate bucket for loans was 6-7%, with 12 originations.
Loan Sizing
2023 saw Cooperativa De A/c De Maunabo place emphasis on $100,000 or less loans with 9 originations, totaling $635,000 in origination value.
Applicant Income
Cooperativa De A/c De Maunabo lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
Cooperativa De A/c De Maunabo lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications65.00%
Cooperativa De A/c De Maunabo has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination70.59%
Cooperativa De A/c De Maunabo has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6597.52 | 1 | $85,000 | $85,000 |
| NA | 16 | $1,670,000 | $104,375 |