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. They have a low ratio of USDA loans. Their top markets by origination volume include: San GermÁn, San Juan, MayagÜez, Yauco, and Aguadilla among others. We have data for 5 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 an above average pick rate when compared to similar lenders. Cooperativa De Ahorro Y Credito De Cabo Rojo is typically a high 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
53Origination Dollar Volume (All Markets)
$6,005,000Top 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) | 34 | $3,160,000 | $92,941 | $10,894 | 3.88% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 7 | $1,355,000 | $193,571 | $30,203 | 3.54% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 9 | $1,165,000 | $129,444 | $3,826 | 3.97% |
| YAUCO, PR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,759 | 3.63% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.75% |
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: 50
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $5,725,000 | $112,255 | $12,531 | 3.84% |
| USDA | 2 | $280,000 | $140,000 | $7,383 | 3.75% |
For 2021, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently originated type of loan was Conventional, with 51 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2021, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.
Loan Duration/Length
For 2021, Cooperativa De Ahorro Y Credito De Cabo Rojo's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was 15 Year, with 22 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito De Cabo Rojo's average total fees were $16,312, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 27 | $2,535,000 | $93,889 |
| 4-5% | 12 | $1,290,000 | $107,500 |
| 2.5-3% | 11 | $1,985,000 | $180,455 |
| 6-7% | 2 | $140,000 | $70,000 |
| 5-6% | 1 | $55,000 | $55,000 |
During 2021, Cooperativa De Ahorro Y Credito De Cabo Rojo's average interest rate for loans was 4.19%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.
Loan Sizing
2021 saw Cooperativa De Ahorro Y Credito De Cabo Rojo place emphasis on $100,000 or less loans with 29 originations, totaling $1,695,000 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 24 originations. The second most popular income band? $100k-150k, with 10 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 16 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 53 | $6,005,000 | $113,302 | $12,423 | 3.84% |
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 origination94.34%
Cooperativa De Ahorro Y Credito De Cabo Rojo has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3545.0 | 1 | $125,000 | $125,000 |
| 9512.47 | 1 | $195,000 | $195,000 |
| NA | 51 | $5,685,000 | $111,471 |