The Lending Center Corporation Mortgage Rates, Fees & Info
San Juan,LEI: 549300NG2D8XTAILV420
Tax ID: 66-0699600
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.24% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 30 Year USDA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 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
47Origination Dollar Volume (All Markets)
$5,745,000Relative 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% |
Their top states include:
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.
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Product Mix
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
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
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
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 applications81.97%
The Lending Center Corporation has a below average approval rate.
Pick Rate
Approvals leading to origination93.62%
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 |