Cooperativa De Ahorro Y Credito De Cabo Rojo Mortgage Rates, Fees & Info
Cabo Rojo,LEI: 549300H8ZDZLHESMY152
Tax ID: 66-0270259
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito De Cabo Rojo is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cooperativa De Ahorro Y Credito De Cabo Rojo has a high proportion of conventional loans. Their top markets by origination volume include: San GermÁn, MayagÜez, San Juan, and Ponce among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa De Ahorro Y Credito De Cabo Rojo has an above average approval rate when compared to the average across all lenders. Cooperativa De Ahorro Y Credito De Cabo Rojo 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.
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Originations
23Origination Dollar Volume (All Markets)
$2,215,000Top 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 GERMÁN, PR (FHA|USDA|VA) | 17 | $1,795,000 | $105,588 | $4,616 | 4.95% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $3,522 | 5.25% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,635 | 5.13% |
| PONCE, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,945 | 7.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
Similarity Rank: 143
Similarity Rank: 144
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,855,000 | $88,333 | $4,479 | 5.14% |
| USDA | 2 | $360,000 | $180,000 | $5,032 | 4.50% |
For 2018, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2018, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 18 | $1,890,000 | $105,000 | $4,867 | 5.13% |
| 15 Year | 4 | $270,000 | $67,500 | $2,923 | 5.33% |
| 10 Year | 1 | $55,000 | $55,000 | $3,270 | 4.00% |
For 2018, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito De Cabo Rojo's average total fees were $4,867, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 12 | $1,370,000 | $114,167 |
| 5-6% | 4 | $190,000 | $47,500 |
| 3-4% | 2 | $110,000 | $55,000 |
| 6-7% | 2 | $220,000 | $110,000 |
| 7-8% | 1 | $55,000 | $55,000 |
During 2018, Cooperativa De Ahorro Y Credito De Cabo Rojo's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 4-5%, with 12 originations.
Loan Sizing
2018 saw Cooperativa De Ahorro Y Credito De Cabo Rojo place emphasis on $100,000 or less loans with 13 originations, totaling $825,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito De Cabo Rojo lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito De Cabo Rojo lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $2,215,000 | $96,304 | $4,529 | 5.11% |
Approval Rates
Total approvals of all applications100.00%
Cooperativa De Ahorro Y Credito De Cabo Rojo has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 23 | $2,215,000 | $96,304 |