Cooperativa De Ahorro Y Credito De Rincon Mortgage Rates, Fees & Info

Rincon,

LEI: 549300LW8UB33S1ZIF68

Tax ID: 66-0228482

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cooperativa De Ahorro Y Credito De Rincon is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cooperativa De Ahorro Y Credito De Rincon has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Aguadilla, San GermÁn, MayagÜez, San Juan, and Yauco among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cooperativa De Ahorro Y Credito De Rincon has an 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 Rincon 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.

    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 6.72% 11/17/24
    30 Year Conventional Refi 6.33% 11/17/24
    30 Year Cash-out Refi 6.66% 11/17/24
    30 Year FHA Purchase 7.57% 11/17/24
    30 Year VA Purchase 5.66% 11/17/24
    30 Year USDA Purchase 6.71% 11/17/24
    15 Year Conventional Purchase 6.33% 11/17/24
    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 Ahorro Y Credito De Rincon Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cooperativa De Ahorro Y Credito De Rincon. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    158

    Origination Dollar Volume (All Markets)

    $21,980,000

    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
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 105 $16,735,000 $159,381 $5,218 5.63%
    SAN GERMÁN, PR (FHA|USDA|VA) 25 $2,445,000 $97,800 $4,166 5.48%
    MAYAGÜEZ, PR (FHA|USDA|VA) 16 $1,500,000 $93,750 $2,904 4.93%
    SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 9 $885,000 $98,333 $3,328 5.08%
    YAUCO, PR (FHA|USDA|VA) 2 $350,000 $175,000 $8,219 7.00%
    Arecibo, PR (FHA|USDA|VA) 1 $65,000 $65,000 $3,045 6.75%
    Cooperativa De Ahorro Y Credito De Rincon's top markets include Aguadilla, San GermÁn, MayagÜez, San Juan, and Yauco among others.

    Their top states include:
  • Puerto Rico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cooperativa de Ahorro y Credito de Rincon based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    COOPERATIVA DE AHORRO Y CREDITO DE AGUADA
    Similarity Rank: 14
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC.
    Similarity Rank: 42
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 52
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 69
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    Cooperativa de Ahorro y Credito de Rincon
    Similarity Rank: 96
    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 96
    The Lending Center Corporation
    Similarity Rank: 132
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 145
    Cooperativa A/C de Arecibo
    Similarity Rank: 217

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $20,190,000 $140,208 $4,777 5.65%
    FHA 6 $720,000 $120,000 $2,956 3.92%
    VA 5 $725,000 $145,000 $6,396 5.30%
    USDA 3 $345,000 $115,000 $5,517 3.33%

    For 2020, Cooperativa De Ahorro Y Credito De Rincon's most frequently originated type of loan was Conventional, with 144 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $11,485,000 $120,895 $4,169 5.54%
    Cash Out Refi 61 $10,315,000 $169,098 $5,858 5.55%
    Refi 2 $180,000 $90,000 $4,506 4.50%

    For 2020, Cooperativa De Ahorro Y Credito De Rincon's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $13,765,000 $169,938 $5,605 5.61%
    20 Year 28 $2,890,000 $103,214 $3,877 5.41%
    15 Year 24 $2,950,000 $122,917 $4,389 5.10%
    Other 14 $1,540,000 $110,000 $4,284 6.21%
    10 Year 11 $835,000 $75,909 $2,971 5.25%

    For 2020, Cooperativa De Ahorro Y Credito De Rincon's most frequently cited loan duration was 30 Year, with 81 originations. The 2nd most popular length was 20 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 57 $5,325,000 $93,421
    $<1k 44 $3,260,000 $74,091
    $2k-3k 25 $3,025,000 $121,000
    $3k-4k 16 $2,790,000 $174,375
    $5k+ 12 $6,650,000 $554,167
    $4k-5k 4 $930,000 $232,500

    Cooperativa De Ahorro Y Credito De Rincon's average total fees were $5,605, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 57 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 46 $10,140,000 $220,435
    4-5% 44 $5,090,000 $115,682
    6-7% 34 $3,650,000 $107,353
    7-8% 21 $1,585,000 $75,476
    3-4% 11 $1,285,000 $116,818
    2.5-3% 2 $230,000 $115,000

    During 2020, Cooperativa De Ahorro Y Credito De Rincon's average interest rate for loans was 5.61%, while their most frequently originated rate bucket for loans was 5-6%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $5,665,000 $69,938 $2,799 5.56%
    $100k-200k 56 $7,490,000 $133,750 $4,906 5.51%
    $200k-400k 17 $4,605,000 $270,882 $9,127 5.53%
    $400k-600k 3 $1,515,000 $505,000 $13,818 5.08%
    $1MM+ 1 $2,705,000 $2,705,000 $51,462 5.25%

    2020 saw Cooperativa De Ahorro Y Credito De Rincon place emphasis on $100,000 or less loans with 81 originations, totaling $5,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $5,070,000 $81,774 $3,149 5.55%
    $50k-75k 32 $4,030,000 $125,938 $4,932 5.21%
    $100k-150k 27 $4,375,000 $162,037 $5,252 5.47%
    $75k-100k 16 $1,910,000 $119,375 $4,938 6.06%
    $150k-250k 13 $2,265,000 $174,231 $5,642 5.69%
    $250k+ 8 $4,330,000 $541,250 $12,761 5.47%

    Cooperativa De Ahorro Y Credito De Rincon lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 37 $3,785,000 $102,297 $3,694 5.52%
    30-36% 26 $2,820,000 $108,462 $3,718 5.59%
    <20% 24 $2,450,000 $102,083 $3,936 5.02%
    50-60% 9 $2,015,000 $223,889 $7,928 5.56%
    48% 7 $755,000 $107,857 $4,615 5.61%
    49% 7 $755,000 $107,857 $4,068 5.84%
    39% 7 $1,075,000 $153,571 $5,663 5.68%
    41% 6 $3,330,000 $555,000 $14,041 5.58%
    45% 6 $1,270,000 $211,667 $6,799 4.96%
    >60% 4 $860,000 $215,000 $6,783 5.86%
    43% 3 $385,000 $128,333 $4,726 5.50%
    38% 3 $255,000 $85,000 $5,252 6.83%
    37% 3 $125,000 $41,667 $1,500 6.17%
    42% 3 $285,000 $95,000 $1,140 5.42%
    46% 3 $525,000 $175,000 $5,810 6.75%
    47% 3 $445,000 $148,333 $5,157 5.25%
    40% 3 $315,000 $105,000 $3,791 5.33%
    44% 2 $190,000 $95,000 $3,988 5.50%
    36% 1 $175,000 $175,000 $9,118 6.50%

    Cooperativa De Ahorro Y Credito De Rincon lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $21,715,000 $140,097 $4,799 5.53%
    Black 2 $200,000 $100,000 $2,911 5.50%
    Asian 1 $65,000 $65,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    85.57%

    Cooperativa De Ahorro Y Credito De Rincon has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.57%

    Cooperativa De Ahorro Y Credito De Rincon has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 158 $21,980,000 $139,114

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 158 $21,980,000 $139,114

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $460,000 $76,667 $3,436 5.29%
    40-60% 14 $1,230,000 $87,857 $3,580 5.43%
    60-80% 53 $8,115,000 $153,113 $4,869 5.91%
    80-100% 82 $11,790,000 $143,780 $5,098 5.31%
    Over 100% 2 $340,000 $170,000 $4,925 5.00%
    Under 20% 1 $45,000 $45,000 $0 6.50%