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.) Their top markets by origination volume include: Aguadilla, San GermÁn, MayagÜez, San Juan, and Yauco among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cooperativa De Ahorro Y Credito De Rincon 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 Rincon is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.72% 4/28/24
    30 Year Conventional Refi 6.33% 4/28/24
    30 Year Cash-out Refi 6.66% 4/28/24
    30 Year FHA Purchase 7.57% 4/28/24
    30 Year VA Purchase 5.66% 4/28/24
    30 Year USDA Purchase 6.71% 4/28/24
    15 Year Conventional Purchase 6.33% 4/28/24
    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

    263

    Origination Dollar Volume (All Markets)

    $32,825,000

    Awards

    Cooperativa de Ahorro y Credito de Rincon 30 Year Conventional Loans gold Cooperativa de Ahorro y Credito de Rincon 30 Year Conventional Loans gold
    Show all (2) awards

    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) 153 $22,235,000 $145,327 $4,789 5.52%
    SAN GERMÁN, PR (FHA|USDA|VA) 61 $6,345,000 $104,016 $3,926 5.23%
    MAYAGÜEZ, PR (FHA|USDA|VA) 35 $2,285,000 $65,286 $2,453 5.38%
    SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 7 $1,245,000 $177,857 $7,310 5.36%
    YAUCO, PR (FHA|USDA|VA) 2 $250,000 $125,000 $4,232 5.00%
    Santa Isabel, PR (FHA|USDA|VA) 1 $155,000 $155,000 $2,580 3.50%
    PONCE, PR (FHA|USDA|VA) 1 $125,000 $125,000 $3,624 5.50%
    Outside of Metro Areas 1 $105,000 $105,000 $4,657 5.50%
    Arecibo, PR (FHA|USDA|VA) 2 $80,000 $40,000 $1,867 7.50%
    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 Jesus Obrero
    Similarity Rank: 25
    COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS
    Similarity Rank: 27
    COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO
    Similarity Rank: 50
    COOPERATIVA DE AHORRO Y CREDITO DE ISABELA
    Similarity Rank: 55
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 56
    COOPERATIVA DE AHORRO Y CREDITO DE AGUADA
    Similarity Rank: 60
    COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA
    Similarity Rank: 72
    COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS
    Similarity Rank: 96
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 150
    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 235 $29,515,000 $125,596 $4,317 5.68%
    USDA 17 $1,745,000 $102,647 $4,690 3.22%
    FHA 10 $1,140,000 $114,000 $2,139 3.60%
    VA 1 $425,000 $425,000 $17,913 3.00%

    For 2021, Cooperativa De Ahorro Y Credito De Rincon's most frequently originated type of loan was Conventional, with 235 originations. Their 2nd most popular type was USDA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 199 $23,725,000 $119,221 $4,036 5.41%
    Cash Out Refi 58 $8,580,000 $147,931 $5,262 5.52%
    Refi 6 $520,000 $86,667 $3,986 5.42%

    For 2021, Cooperativa De Ahorro Y Credito De Rincon's most frequently cited loan purpose was Home Purchase, with 199 originations. The 2nd most popular reason was Cash Out Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 177 $24,025,000 $135,734 $4,610 5.42%
    20 Year 40 $5,520,000 $138,000 $4,680 5.39%
    15 Year 23 $1,515,000 $65,870 $2,402 5.21%
    10 Year 14 $1,030,000 $73,571 $3,029 5.98%
    Other 8 $710,000 $88,750 $3,886 5.72%
    5 Year 1 $25,000 $25,000 $1,517 4.25%

    For 2021, Cooperativa De Ahorro Y Credito De Rincon's most frequently cited loan duration was 30 Year, with 177 originations. The 2nd most popular length was 20 Year, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 86 $8,350,000 $97,093
    $<1k 64 $2,960,000 $46,250
    $2k-3k 51 $7,315,000 $143,431
    $3k-4k 17 $3,265,000 $192,059
    $4k-5k 10 $2,680,000 $268,000
    $5k+ 6 $5,080,000 $846,667

    Cooperativa De Ahorro Y Credito De Rincon's average total fees were $4,610, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 96 $15,690,000 $163,438
    4-5% 65 $8,235,000 $126,692
    6-7% 40 $3,640,000 $91,000
    7-8% 34 $1,960,000 $57,647
    3-4% 17 $1,835,000 $107,941
    2.5-3% 11 $1,465,000 $133,182

    During 2021, Cooperativa De Ahorro Y Credito De Rincon's average interest rate for loans was 5.42%, while their most frequently originated rate bucket for loans was 5-6%, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 131 $8,315,000 $63,473 $2,515 5.68%
    $100k-200k 105 $14,025,000 $133,571 $4,723 5.19%
    $200k-400k 22 $5,730,000 $260,455 $8,167 5.35%
    $400k-600k 4 $1,900,000 $475,000 $16,789 4.50%
    $1MM+ 1 $2,855,000 $2,855,000 $52,912 5.25%

    2021 saw Cooperativa De Ahorro Y Credito De Rincon place emphasis on $100,000 or less loans with 131 originations, totaling $8,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 138 $11,850,000 $85,870 $3,195 5.38%
    $100k-150k 38 $4,750,000 $125,000 $4,439 5.55%
    $50k-75k 30 $3,540,000 $118,000 $4,148 5.52%
    $150k-250k 27 $5,525,000 $204,630 $7,059 5.38%
    $75k-100k 22 $2,960,000 $134,545 $4,803 5.40%
    $250k+ 8 $4,200,000 $525,000 $12,741 5.87%

    Cooperativa De Ahorro Y Credito De Rincon lent most frequently to those with incomes in the $50k or less range, with 138 originations. The second most popular income band? $100k-150k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $7,200,000 $116,129 $4,328 5.26%
    <20% 38 $3,520,000 $92,632 $3,148 5.38%
    30-36% 33 $6,705,000 $203,182 $5,597 5.34%
    50-60% 23 $3,205,000 $139,348 $5,234 5.70%
    40% 13 $1,535,000 $118,077 $4,296 5.85%
    45% 10 $1,340,000 $134,000 $4,936 5.75%
    49% 10 $900,000 $90,000 $3,860 5.61%
    38% 9 $955,000 $106,111 $3,381 5.47%
    44% 9 $1,195,000 $132,778 $4,716 5.64%
    >60% 8 $760,000 $95,000 $3,748 6.25%
    41% 8 $800,000 $100,000 $4,125 5.56%
    48% 8 $730,000 $91,250 $3,610 5.88%
    36% 6 $570,000 $95,000 $3,229 4.95%
    46% 5 $1,195,000 $239,000 $6,417 5.10%
    37% 5 $725,000 $145,000 $5,527 4.75%
    47% 4 $460,000 $115,000 $4,125 5.25%
    39% 4 $320,000 $80,000 $3,240 5.69%
    43% 4 $310,000 $77,500 $2,283 4.06%
    42% 2 $180,000 $90,000 $3,474 5.23%

    Cooperativa De Ahorro Y Credito De Rincon lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? <20%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 262 $32,400,000 $123,664 $4,254 5.44%
    Black 1 $425,000 $425,000 $17,913 3.00%

    Approval Rates

    Total approvals of all applications
    98.15%

    Cooperativa De Ahorro Y Credito De Rincon has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    78.71%

    Cooperativa De Ahorro Y Credito De Rincon has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 263 $32,825,000 $124,810

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    263 $32,825,000 $124,810

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $375,000 $75,000 $3,133 5.05%
    40-60% 15 $1,165,000 $77,667 $2,663 5.50%
    60-80% 103 $8,585,000 $83,350 $3,369 5.84%
    80-100% 132 $21,760,000 $164,848 $5,303 5.12%
    Over 100% 8 $940,000 $117,500 $3,793 5.50%