Banco Santander Puerto Rico Mortgage Rates, Fees & Info

SAN JUAN,

LEI: 549300QO3CMBIN236004

Tax ID: 66-0312389

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Banco Santander Puerto Rico is a smaller mortgage company specializing in Home Purchase loans. Banco Santander Puerto Rico has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: San Juan, Aguadilla, Ponce, San GermÁn, and Arecibo among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Banco Santander Puerto Rico has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Banco Santander Puerto Rico 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 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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    Originations

    198

    Origination Dollar Volume (All Markets)

    $25,400,000

    Employee count

    998

    Awards

    BANCO SANTANDER PUERTO RICO 30 Year Conventional Loans gold
    Show all (1) 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
    SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 160 $20,740,000 $129,625 $3,174 5.25%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 10 $1,310,000 $131,000 $3,429 5.75%
    PONCE, PR (FHA|USDA|VA) 10 $1,230,000 $123,000 $3,653 4.84%
    SAN GERMÁN, PR (FHA|USDA|VA) 8 $1,040,000 $130,000 $4,320 4.45%
    Arecibo, PR (FHA|USDA|VA) 3 $555,000 $185,000 $5,691 5.63%
    MAYAGÜEZ, PR (FHA|USDA|VA) 2 $160,000 $80,000 $1,813 5.06%
    GUAYAMA, PR (FHA|USDA|VA) 2 $140,000 $70,000 $1,542 5.25%
    Santa Isabel, PR (FHA|USDA|VA) 1 $95,000 $95,000 $4,508 5.00%
    Coco, PR (FHA|USDA|VA) 1 $65,000 $65,000 $2,060 6.00%
    Outside of Metro Areas 1 $65,000 $65,000 $2,955 4.88%
    Banco Santander Puerto Rico's top markets include San Juan, Aguadilla, Ponce, San GermÁn, and Arecibo among others.

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

    • Similar Lenders

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

    COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS
    Similarity Rank: 12
    Cooperativa A/C Oriental
    Similarity Rank: 48
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC.
    Similarity Rank: 54
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 92
    Cooperativa A/C de Arecibo
    Similarity Rank: 108
    COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA
    Similarity Rank: 111
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 184
    Scotiabank de Puerto Rico
    Similarity Rank: 312
    The Lending Center Corporation
    Similarity Rank: 368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 176 $22,690,000 $128,920 $3,022 5.33%
    FHA 13 $1,705,000 $131,154 $5,195 4.38%
    USDA 7 $715,000 $102,143 $4,140 4.43%
    VA 2 $290,000 $145,000 $6,910 4.25%

    For 2018, Banco Santander Puerto Rico's most frequently originated type of loan was Conventional, with 176 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 166 $20,070,000 $120,904 $3,081 5.25%
    Refi 23 $4,415,000 $191,957 $5,202 5.13%
    Cash Out Refi 8 $880,000 $110,000 $4,387 4.89%
    Home Improvement 1 $35,000 $35,000 $2,529 5.25%

    For 2018, Banco Santander Puerto Rico's most frequently cited loan purpose was Home Purchase, with 166 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 112 $13,290,000 $118,661 $3,287 5.06%
    30+ year 35 $4,525,000 $129,286 $2,728 5.28%
    15 Year 18 $1,770,000 $98,333 $2,775 5.47%
    20 Year 14 $1,860,000 $132,857 $4,458 4.98%
    5 Year 9 $2,745,000 $305,000 $0 6.84%
    10 Year 8 $970,000 $121,250 $5,706 6.87%
    Other 2 $240,000 $120,000 $0 4.00%

    For 2018, Banco Santander Puerto Rico's most frequently cited loan duration was 30 Year, with 112 originations. The 2nd most popular length was 30+ year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 122 $13,900,000 $113,934
    $1k-2k 34 $3,450,000 $101,471
    $2k-3k 17 $2,615,000 $153,824
    $4k-5k 4 $950,000 $237,500
    $3k-4k 2 $450,000 $225,000

    Banco Santander Puerto Rico's average total fees were $3,287, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 87 $10,105,000 $116,149
    4-5% 63 $8,175,000 $129,762
    6-7% 16 $1,650,000 $103,125
    3-4% 15 $1,735,000 $115,667
    Over 8% 5 $575,000 $115,000
    7-8% 2 $550,000 $275,000
    <2.5% 1 $585,000 $585,000

    During 2018, Banco Santander Puerto Rico's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 5-6%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 91 $6,315,000 $69,396 $2,353 5.35%
    $100k-200k 81 $11,515,000 $142,160 $3,627 5.13%
    $200k-400k 24 $6,430,000 $267,917 $6,063 5.25%
    $400k-600k 2 $1,140,000 $570,000 $0 1.00%

    2018 saw Banco Santander Puerto Rico place emphasis on $100,000 or less loans with 91 originations, totaling $6,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 80 $7,140,000 $89,250 $2,832 5.21%
    $50k-75k 46 $5,280,000 $114,783 $3,286 5.13%
    $75k-100k 17 $2,715,000 $159,706 $4,165 5.46%
    $100k-150k 15 $2,385,000 $159,000 $3,371 5.21%
    $150k-250k 13 $2,735,000 $210,385 $4,317 5.09%
    $250k+ 12 $2,860,000 $238,333 $5,531 6.28%

    Banco Santander Puerto Rico lent most frequently to those with incomes in the $50k or less range, with 80 originations. The second most popular income band? $50k-75k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 24 $2,500,000 $104,167 $2,594 5.18%
    20-30% 22 $2,510,000 $114,091 $3,425 5.20%
    >60% 18 $2,090,000 $116,111 $3,625 4.28%
    49% 16 $2,220,000 $138,750 $3,402 5.23%
    48% 9 $1,235,000 $137,222 $3,176 5.21%
    44% 8 $810,000 $101,250 $3,398 5.22%
    39% 8 $1,080,000 $135,000 $3,440 5.16%
    41% 8 $960,000 $120,000 $3,458 5.19%
    <20% 7 $735,000 $105,000 $3,536 5.54%
    43% 7 $605,000 $86,429 $2,423 5.16%
    47% 7 $685,000 $97,857 $2,810 5.45%
    42% 6 $820,000 $136,667 $3,528 5.27%
    50-60% 6 $1,010,000 $168,333 $5,277 4.77%
    36% 6 $890,000 $148,333 $2,573 5.33%
    37% 6 $750,000 $125,000 $3,147 5.42%
    46% 5 $595,000 $119,000 $3,323 5.13%
    45% 4 $300,000 $75,000 $3,242 5.00%
    38% 2 $250,000 $125,000 $3,236 5.31%
    40% 2 $370,000 $185,000 $3,897 5.06%

    Banco Santander Puerto Rico lent most frequently to those with DTI ratios of 30-36%, with 24 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $22,305,000 $130,439 $3,317 5.18%
    Black 25 $2,655,000 $106,200 $2,868 5.53%
    Not applicable 2 $440,000 $220,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    71.05%

    Banco Santander Puerto Rico has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.78%

    Banco Santander Puerto Rico has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 198 $25,400,000 $128,283

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $395,000 $395,000
    Single Family (1-4 Units):Site-Built 197 $25,005,000 $126,929

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $855,000 $122,143 $5,114 6.02%
    40-60% 12 $1,520,000 $126,667 $3,686 4.92%
    60-80% 39 $4,175,000 $107,051 $3,224 5.30%
    80-100% 126 $15,900,000 $126,190 $3,172 5.22%
    Over 100% 8 $2,260,000 $282,500 $5,413 5.49%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OZK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 33.3%
    BANK OZK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    BANK OZK Other type of mortgage Trouble during payment process 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Banco Santander Puerto Rico 1300 Jesus T. Pinero Avenue San Juan, PR 920 Full Service B&M $138,337
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 917 Full Service B&M $1,209,057
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 919 Full Service B&M $553,493
    Banco Santander Puerto Rico 521 Jose Cedeno Avenue Arecibo, PR 612 Full Service B&M $87,801
    Banco Santander Puerto Rico 65th Infantry Avenue 13th Street San Juan, PR 926 Full Service B&M $82,663
    Banco Santander Puerto Rico 7 Calle Tabonuco Guaynabo, PR 968 Full Service B&M $31,297
    Banco Santander Puerto Rico Bayamon Oeste Shopping Center Bayamon, PR 985 Full Service B&M $54,358
    Banco Santander Puerto Rico Bo. San Anton, Carretera Num. 3 Carolina, PR 984 Full Service B&M $50,343
    Banco Santander Puerto Rico Calle Tabonuco B-4 Guaynabo, PR 968 Full Service B&M $172,915
    Banco Santander Puerto Rico Carolina Shopping Center Carolina, PR 982 Full Service B&M $69,255
    Banco Santander Puerto Rico Carretera No. 2 Corner Carretera No. 167 Bayamon, PR 957 Full Service B&M $162,309
    Banco Santander Puerto Rico Centro Comercial Los Dominicos Levittown, PR 949 Full Service B&M $36,620
    Banco Santander Puerto Rico Centro Commercial Del Montehiedra Town Center, Avenida Los Romeros #941 Rio Piedras, PR 926 Full Service B&M $31,530
    Banco Santander Puerto Rico Loiza And San Jorge Street Santurce, PR 911 Full Service B&M $186,299
    Banco Santander Puerto Rico Lot #3, Barrio Montellano, Carretera Numero 1 Cayey, PR 736 Full Service B&M $61,974
    Banco Santander Puerto Rico Mayaguez Mall Shopping Ctr Mayaguez, PR 680 Full Service B&M $87,529
    Banco Santander Puerto Rico Mendez Vigo And Las Nereidas Streets Mayaguez, PR 682 Full Service B&M $81,570
    Banco Santander Puerto Rico Plaza Degetau, Amor Street Ponce, PR 731 Full Service B&M $233,500
    Banco Santander Puerto Rico Plaza Del Caribe Mall, State Road #1 Ponce, PR 731 Full Service B&M $100,081
    Banco Santander Puerto Rico Plaza Del Sol Shopping Center Avenid Bayamon, PR 961 Full Service B&M $32,334
    Banco Santander Puerto Rico Plaza Las Americas Shopping Center San Juan, PR 913 Full Service B&M $163,739
    Banco Santander Puerto Rico Plaza Palma Real Shopping Center, P.R. 3 And P.R. 53, Bo. Rio Abajo Humacao, PR 791 Full Service B&M $75,802
    Banco Santander Puerto Rico Plazoleta Las Cumbres Guaynabo, PR 969 Full Service B&M $90,258
    Banco Santander Puerto Rico Road #2, Kilometer 37.5 Bo Caribe & State Road Number 688 Vega Baja, PR 693 Full Service B&M $106,026
    Banco Santander Puerto Rico Ruiz Belvis And Miramar Streets San Sebastian, PR 685 Full Service B&M $63,244
    Banco Santander Puerto Rico San Carlos Avenue And Betances St. Aguadilla, PR 603 Full Service B&M $63,580
    Banco Santander Puerto Rico Villa Del Carmen Shopping Center Caguas, PR 725 Full Service B&M $144,603

    For 2018, Banco Santander Puerto Rico had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $246,218
    Net interest income $225,475
    Total noninterest income $23,441
    Gross Fiduciary activities income $576
    Service charges on deposit accounts $8,883
    Trading account gains and fees $414
    Additional Noninterest Income $13,568
    Pre-tax net operating income $86,019
    Securities gains (or losses, -) $0
    Income before extraordinary items $56,971
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $56,971
    Minority interest net income $0
    Net income $56,971
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $56,971

    Banco Santander Puerto Rico's gross interest income from loans was $246,218,000.
    Banco Santander Puerto Rico's net interest income from loans was $225,475,000.
    Banco Santander Puerto Rico's fee based income from loans was $8,883,000.
    Banco Santander Puerto Rico's net income from loans was $56,971,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $20,743
    Provision for credit losses $23,628
    Total noninterest expense $139,269
    Salaries and employee benefits $55,259
    Premises and equipment expense $19,158
    Additional noninterest expense $64,852
    Applicable income taxes $29,048
    Net charge-offs $46,344
    Cash dividends $0

    Banco Santander Puerto Rico's interest expense for loans was $20,743,000.
    Banco Santander Puerto Rico's payroll and benefits expense were $55,259,000.
    Banco Santander Puerto Rico's property, plant and equipment expenses $19,158,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 5.0%
    Real Estate loans 7.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 10.0%
    HELOC loans 0.0%
    All other family 10.0%
    Commercial & industrial loans 6.0%
    Personal loans 1.0%
    Credit card loans 1.5%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $4,130,848
    Deposits held in domestic offices $4,130,848
    Deposits by Individuals, partnerships, and corporations $3,318,123
    Deposits by U.S. Government $68,299
    Deposits by States and political subdivisions in the U.S. $738,937
    Deposits by Commercial banks and other depository institutions in U.S. $5,489
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $2,555,075
    Demand deposits $1,930,261
    Nontransaction accounts $1,575,773
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $1,066,656
    Total time deposits $509,116
    Total time and savings deposits $2,200,587
    Noninterest-bearing deposits $993,015
    Interest-bearing deposits $3,137,833
    Retail deposits $3,765,492
    IRAs and Keogh plan accounts $22,912
    Brokered deposits $29,392
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $5,177,922
    Cash & Balances due from depository institutions $1,253,852
    Interest-bearing balances $1,180,135
    Total securities $702,228
    Federal funds sold & reverse repurchase $0
    Net loans and leases $3,003,036
    Loan and leases loss allowance $110,769
    Trading account assets $1,235
    Bank premises and fixed assets $16,132
    Other real estate owned $54,710
    Goodwill and other intangibles $6,653
    All other assets $140,076

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $5,177,922
    Total Liabilities $4,220,366
    Total deposits $4,130,848
    Interest-bearing deposits $3,137,833
    Deposits held in domestic offices $4,130,848
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,225
    Other borrowed funds $4,342
    Subordinated debt $0
    All other liabilities $83,951

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $3,003,036
    Loan and leases loss allowance $110,769
    Total loans and leases (domestic) $3,113,805
    All real estate loans $2,258,323
    Real estate loans in domestic offices $2,258,323
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $1,163,447
    Nonfarm nonresidential secured by owner-occupied properties $561,503
    Commercial real estate & other non-farm, non-residential $601,944
    Multifamily residential real estate $42,744
    1-4 family residential loans $1,050,672
    Farmland loans $1,460
    Loans held in foreign offices $0
    Farm loans $662
    Commercial and industrial loans $250,756
    To non-U.S. addressees $119
    Loans to individuals $356,842
    Credit card loans $179,258
    Related Plans $3,840
    Consumer Auto Loans $0
    Other loans to individuals $173,744
    All other loans & leases $247,222
    Loans to foreign governments and official institutions $0
    Other loans $39,802
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $34,110
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $138,828
    Non 1-4 family restructured loans & leases $50,502
    Total loans and leases (foreign) $0

    BANCO SANTANDER PUERTO RICO had $3,003,036,000 of loans outstanding in 2018. $2,258,323,000 of loans were in real estate loans. $0 of loans were in development loans. $42,744,000 of loans were in multifamily mortgage loans. $1,050,672,000 of loans were in 1-4 family mortgage loans. $662,000 of loans were in farm loans. $179,258,000 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 1,186 $188,020 $158,533
    Nonfarm, nonresidential loans - <$100k 263 $12,095 $45,989
    Nonfarm, nonresidential loans - $100-250k 581 $64,807 $111,544
    Nonfarm, nonresidential loans - $250k-1MM 342 $111,118 $324,906
    Commercial & Industrial, US addressed loans - <$1MM 627 $76,714 $122,351
    Commercial & Industrial, US addressed loans - <$100k 307 $7,971 $25,964
    Commercial & Industrial, US addressed loans - $100-250k 183 $21,923 $119,798
    Commercial & Industrial, US addressed loans - $250k-1MM 137 $46,820 $341,752
    Agriculture operations loans - <$1MM 4 $100 $25,000
    Agriculture operations loans - <$100k 4 $100 $25,000