The Lending Center Corporation Mortgage Rates, Fees & Info

San Juan,

LEI: 549300NG2D8XTAILV420

Tax ID: 66-0699600

3.9 stars - Updated: 6/23/24 - out of 5 stars, based on 7 reviews

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

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Mortgage Data

Review & Overview

The Lending Center Corporation is a smaller mortgage company specializing in Home Purchase loans. The Lending Center Corporation has a high proportion of conventional loans. They also have a high ratio of USDA loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Juan, Aguadilla, Arecibo, MayagÜez, and Guayama among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Lending Center Corporation has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. The Lending Center Corporation 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.

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 7.24% 6/23/24
30 Year Conventional Refi 6.27% 6/23/24
30 Year Cash-out Refi 6.27% 6/23/24
30 Year FHA Purchase 6.27% 6/23/24
30 Year VA Purchase 6.27% 6/23/24
30 Year USDA Purchase 6.27% 6/23/24
30 Year USDA Refi 6.27% 6/23/24
15 Year Conventional Purchase 5.68% 6/23/24
15 Year Conventional Refi 5.68% 6/23/24
15 Year Cash-out Refi 5.68% 6/23/24
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.

The Lending Center Corporation Mortgage Calculator






Your Estimates

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

This is not an official calculator from The Lending Center Corporation. 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

47

Origination Dollar Volume (All Markets)

$5,745,000

Relative Rate

The Lending Center Corporation's average 30 year fixed mortgage rate was 7.16%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.68%.

Relative Fees (Closing Costs)

The Lending Center Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $8,158.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 37 $4,485,000 $121,216 $8,097 7.22%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 4 $490,000 $122,500 $9,174 6.81%
Arecibo, PR (FHA|USDA|VA) 4 $460,000 $115,000 $7,592 7.31%
MAYAGÜEZ, PR (FHA|USDA|VA) 1 $225,000 $225,000 $13,635 6.50%
GUAYAMA, PR (FHA|USDA|VA) 1 $85,000 $85,000 $6,653 7.00%
The Lending Center Corporation's top markets include San Juan, Aguadilla, Arecibo, MayagÜez, and Guayama among others.

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

    We use machine learning to identify the top lenders compared against The Lending Center Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 23 $2,865,000 $124,565 $7,488 7.45%
    USDA 19 $1,735,000 $91,316 $7,651 7.12%
    FHA 3 $675,000 $225,000 $14,869 6.00%
    VA 2 $470,000 $235,000 $12,373 6.25%

    For 2023, The Lending Center Corporation's most frequently originated type of loan was Conventional, with 23 originations. Their 2nd most popular type was USDA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 44 $5,430,000 $123,409 $8,257 7.13%
    Cash Out Refi 3 $315,000 $105,000 $7,890 7.75%

    For 2023, The Lending Center Corporation's most frequently cited loan purpose was Home Purchase, with 44 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 46 $5,580,000 $121,304 $8,158 7.16%
    15 Year 1 $165,000 $165,000 $11,706 7.75%

    For 2023, The Lending Center Corporation's most frequently cited loan duration was 30 Year, with 46 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 22 $3,870,000 $175,909
    $3k-4k 11 $825,000 $75,000
    $4k-5k 7 $625,000 $89,286
    $2k-3k 6 $330,000 $55,000
    $1k-2k 1 $95,000 $95,000

    The Lending Center Corporation's average total fees were $8,158, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 28 $2,430,000 $86,786
    6-7% 14 $2,570,000 $183,571
    5-6% 3 $575,000 $191,667
    Over 8% 2 $170,000 $85,000

    During 2023, The Lending Center Corporation's average interest rate for loans was 7.16%, while their most frequently originated rate bucket for loans was 7-8%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 28 $2,120,000 $75,714 $6,467 7.40%
    $100k-200k 15 $2,125,000 $141,667 $9,775 6.98%
    $200k-400k 3 $775,000 $258,333 $14,126 6.17%
    $600k-1MM 1 $725,000 $725,000 $16,883 6.75%

    2023 saw The Lending Center Corporation place emphasis on $100,000 or less loans with 28 originations, totaling $2,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 35 $3,175,000 $90,714 $7,188 7.32%
    $50k-75k 7 $945,000 $135,000 $9,238 6.96%
    $100k-150k 2 $450,000 $225,000 $11,428 7.00%
    $150k-250k 1 $265,000 $265,000 $17,595 5.75%
    $250k+ 1 $725,000 $725,000 $16,883 6.75%
    $75k-100k 1 $185,000 $185,000 $13,376 5.75%

    The Lending Center Corporation lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 14 $1,250,000 $89,286 $7,411 7.28%
    30-36% 8 $700,000 $87,500 $7,104 7.33%
    48% 4 $400,000 $100,000 $6,800 6.97%
    41% 3 $335,000 $111,667 $9,252 7.42%
    36% 3 $265,000 $88,333 $6,289 7.54%
    50-60% 2 $490,000 $245,000 $15,615 6.13%
    37% 2 $200,000 $100,000 $7,783 6.63%
    43% 2 $270,000 $135,000 $8,742 7.63%
    49% 2 $190,000 $95,000 $7,953 7.25%
    <20% 2 $1,010,000 $505,000 $14,016 6.50%
    44% 1 $195,000 $195,000 $11,347 6.25%
    47% 1 $145,000 $145,000 $9,521 7.50%
    39% 1 $95,000 $95,000 $8,451 7.50%
    42% 1 $85,000 $85,000 $7,021 7.50%
    38% 1 $115,000 $115,000 $7,979 6.88%

    The Lending Center Corporation lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 45 $5,575,000 $123,889 $8,295 7.17%
    Black 2 $170,000 $85,000 $6,841 7.31%

    Approval Rates

    Total approvals of all applications
    81.97%

    The Lending Center Corporation has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    93.62%

    The Lending Center Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 47 $5,745,000 $122,234

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    47 $5,745,000 $122,234

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $725,000 $725,000 $16,883 6.75%
    40-60% 5 $375,000 $75,000 $6,592 7.58%
    60-80% 26 $2,630,000 $101,154 $7,393 7.30%
    80-100% 15 $2,015,000 $134,333 $9,659 6.84%