Cooperativa De Ahorro Y Credito De Isabela Mortgage Rates, Fees & Info
ISABEL,LEI: 549300PIBI14GDBLD168
Tax ID: 66-0214491
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito De Isabela is a smaller mortgage company specializing in Cash Out Refi loans. Cooperativa De Ahorro Y Credito De Isabela has a high proportion of conventional loans. Their top markets by origination volume include: Aguadilla, Arecibo, San Juan, Ponce, and MayagÜez 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 De Isabela 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 Isabela 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 | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 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 Isabela Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
56Origination Dollar Volume (All Markets)
$6,850,000Awards
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA - 2023
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Cooperativa De Ahorro Y Credito De Isabela's average 30 year fixed mortgage rate was
5.7%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.78%.
Relative Fees (Closing Costs)
Cooperativa De Ahorro Y Credito De Isabela's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,187.
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 |
|---|---|---|---|---|---|
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 39 | $4,145,000 | $106,282 | $5,990 | 5.48% |
| Arecibo, PR (FHA|USDA|VA) | 8 | $1,110,000 | $138,750 | $6,964 | 5.63% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $7,142 | 5.89% |
| PONCE, PR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 6.20% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $12,315 | 4.19% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO DE ISABELA 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 |
|---|---|---|---|---|---|
| Conventional | 56 | $6,850,000 | $122,321 | $6,664 | 5.55% |
For 2023, Cooperativa De Ahorro Y Credito De Isabela's most frequently originated type of loan was Conventional, with 56 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 46 | $5,740,000 | $124,783 | $6,775 | 5.58% |
| Home Purchase | 8 | $880,000 | $110,000 | $6,165 | 5.65% |
| Refi | 2 | $230,000 | $115,000 | $0 | 4.55% |
For 2023, Cooperativa De Ahorro Y Credito De Isabela's most frequently cited loan purpose was Cash Out Refi, with 46 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2023, Cooperativa De Ahorro Y Credito De Isabela's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 9 | $825,000 | $91,667 |
| $2k-3k | 9 | $1,605,000 | $178,333 |
| $<1k | 2 | $80,000 | $40,000 |
| $3k-4k | 2 | $470,000 | $235,000 |
| $4k-5k | 1 | $315,000 | $315,000 |
Cooperativa De Ahorro Y Credito De Isabela's average total fees were $7,187, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 39 | $5,245,000 | $134,487 |
| 4-5% | 8 | $930,000 | $116,250 |
| 7-8% | 4 | $280,000 | $70,000 |
| 6-7% | 3 | $235,000 | $78,333 |
| 3-4% | 2 | $160,000 | $80,000 |
During 2023, Cooperativa De Ahorro Y Credito De Isabela's average interest rate for loans was 5.70%, while their most frequently originated rate bucket for loans was 5-6%, with 39 originations.
Loan Sizing
2023 saw Cooperativa De Ahorro Y Credito De Isabela place emphasis on $100k-200k loans with 31 originations, totaling $4,285,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito De Isabela lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito De Isabela lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 55 | $6,745,000 | $122,636 | $6,664 | 5.52% |
| American Indian | 1 | $105,000 | $105,000 | $0 | 7.30% |
Approval Rates
Total approvals of all applications98.51%
Cooperativa De Ahorro Y Credito De Isabela has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.14%
Cooperativa De Ahorro Y Credito De Isabela has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 56 | $6,850,000 | $122,321 |