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 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, San Juan, and MayagÜez among others. We have data for 3 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. They have a below average pick rate when compared to similar 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 relatively high rates.
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Originations
18Origination Dollar Volume (All Markets)
$1,850,000Top 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) | 12 | $1,310,000 | $109,167 | $5,731 | 6.10% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $5,732 | 4.83% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $4,141 | 4.92% |
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: 39
Similarity Rank: 114
Similarity Rank: 117
Similarity Rank: 150
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $1,755,000 | $103,235 | $5,468 | 5.75% |
| USDA | 1 | $95,000 | $95,000 | $5,435 | 4.75% |
For 2019, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently originated type of loan was Conventional, with 17 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 12 | $1,350,000 | $112,500 | $6,014 | 5.71% |
| 15 Year | 5 | $455,000 | $91,000 | $4,685 | 5.70% |
| 10 Year | 1 | $45,000 | $45,000 | $2,806 | 5.50% |
For 2019, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan duration was 30 Year, with 12 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 8 | $690,000 | $86,250 |
| $3k-4k | 3 | $385,000 | $128,333 |
| $5k+ | 3 | $475,000 | $158,333 |
| $1k-2k | 2 | $100,000 | $50,000 |
| $4k-5k | 2 | $200,000 | $100,000 |
Cooperativa De Ahorro Y Credito De Cabo Rojo's average total fees were $6,014, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 8 | $810,000 | $101,250 |
| 5-6% | 6 | $500,000 | $83,333 |
| Over 8% | 2 | $190,000 | $95,000 |
| 6-7% | 1 | $255,000 | $255,000 |
| 7-8% | 1 | $95,000 | $95,000 |
During 2019, Cooperativa De Ahorro Y Credito De Cabo Rojo's average interest rate for loans was 5.71%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.
Loan Sizing
2019 saw Cooperativa De Ahorro Y Credito De Cabo Rojo place emphasis on $100,000 or less loans with 10 originations, totaling $710,000 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 8 originations. The second most popular income band? $50k-75k, 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 7 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 | 18 | $1,850,000 | $102,778 | $5,466 | 5.69% |
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 origination83.33%
Cooperativa De Ahorro Y Credito De Cabo Rojo has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 18 | $1,850,000 | $102,778 |