Cooperativa De Ahorro Y Credito La PuertorriqueÑa Mortgage Rates, Fees & Info
San Juan,LEI: 549300NC4WJQGK642G48
Tax ID: 66-0223995
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito La PuertorriqueÑa is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Cooperativa De Ahorro Y Credito La PuertorriqueÑa has a low ratio of conventional loans. Their top markets by origination volume include: San Juan, Arecibo, Aguadilla, San GermÁn, and Coamo 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 La PuertorriqueÑa 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 La PuertorriqueÑa 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.
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 | 8.99% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year FHA Purchase | 8.20% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 7.73% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 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 La PuertorriqueÑa Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
238Origination Dollar Volume (All Markets)
$28,860,000Top 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 JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 196 | $23,930,000 | $122,092 | $7,720 | 3.51% |
| Arecibo, PR (FHA|USDA|VA) | 31 | $3,595,000 | $115,968 | $6,902 | 3.61% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 7 | $925,000 | $132,143 | $8,386 | 3.29% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $6,129 | 3.33% |
| Coamo, PR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,395 | 3.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 175 | $20,835,000 | $119,057 | $7,640 | 3.47% |
| USDA | 54 | $6,780,000 | $125,556 | $7,013 | 3.31% |
| Conventional | 9 | $1,245,000 | $138,333 | $10,569 | 5.75% |
For 2021, Cooperativa De Ahorro Y Credito La PuertorriqueÑa's most frequently originated type of loan was FHA, with 175 originations. Their 2nd most popular type was USDA, with 54 originations.
Loan Reason
For 2021, Cooperativa De Ahorro Y Credito La PuertorriqueÑa's most frequently cited loan purpose was Home Purchase, with 230 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 235 | $28,275,000 | $120,319 | $7,573 | 3.52% |
| 20 Year | 2 | $290,000 | $145,000 | $9,470 | 3.25% |
| Other | 1 | $295,000 | $295,000 | $0 | 3.25% |
For 2021, Cooperativa De Ahorro Y Credito La PuertorriqueÑa's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 20 Year, with 2 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito La PuertorriqueÑa's average total fees were $7,573, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 68 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 173 | $21,125,000 | $122,110 |
| 2.5-3% | 51 | $6,105,000 | $119,706 |
| 5-6% | 9 | $1,245,000 | $138,333 |
| 4-5% | 5 | $385,000 | $77,000 |
During 2021, Cooperativa De Ahorro Y Credito La PuertorriqueÑa's average interest rate for loans was 3.52%, while their most frequently originated rate bucket for loans was 3-4%, with 173 originations.
Loan Sizing
2021 saw Cooperativa De Ahorro Y Credito La PuertorriqueÑa place emphasis on $100k-200k loans with 129 originations, totaling $17,015,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito La PuertorriqueÑa lent most frequently to those with incomes in the $50k or less range, with 178 originations. The second most popular income band? $50k-75k, with 41 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito La PuertorriqueÑa lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 223 | $27,225,000 | $122,085 | $7,634 | 3.51% |
| Black | 15 | $1,635,000 | $109,000 | $7,057 | 3.65% |
Approval Rates
Total approvals of all applications99.66%
Cooperativa De Ahorro Y Credito La PuertorriqueÑa has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.96%
Cooperativa De Ahorro Y Credito La PuertorriqueÑa has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 238 | $28,860,000 | $121,261 |