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

Jump to:

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, Arecibo, Yauco, and MayagÜez among others. We have data for 8 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    217

    Origination Dollar Volume (All Markets)

    $32,045,000

    Employee count

    991

    Awards

    BANCO SANTANDER PUERTO RICO 30 Year Conventional Loans gold BANCO SANTANDER PUERTO RICO FHA Loans gold BANCO SANTANDER PUERTO RICO FHA Loans bronze
    Show all (3) 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) 182 $28,290,000 $155,440 $3,788 5.11%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 12 $1,570,000 $130,833 $3,487 5.30%
    Arecibo, PR (FHA|USDA|VA) 5 $635,000 $127,000 $2,961 6.08%
    YAUCO, PR (FHA|USDA|VA) 4 $390,000 $97,500 $2,995 5.75%
    MAYAGÜEZ, PR (FHA|USDA|VA) 5 $375,000 $75,000 $3,218 4.88%
    SAN GERMÁN, PR (FHA|USDA|VA) 3 $365,000 $121,667 $2,352 5.50%
    PONCE, PR (FHA|USDA|VA) 5 $335,000 $67,000 $2,412 4.68%
    GUAYAMA, PR (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.00%
    Banco Santander Puerto Rico's top markets include San Juan, Aguadilla, Arecibo, Yauco, and MayagÜez 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 DE MANATI INC.
    Similarity Rank: 24
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 56
    COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA
    Similarity Rank: 86
    Cooperativa Ahorro y Credito Aguadilla
    Similarity Rank: 141
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 172
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 184
    Cooperativa A/C Oriental
    Similarity Rank: 204
    Oriental Bank
    Similarity Rank: 300
    Banco Popular de Puerto Rico
    Similarity Rank: 325
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 335

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $25,760,000 $148,046 $3,220 5.44%
    FHA 34 $5,210,000 $153,235 $5,636 4.00%
    USDA 7 $775,000 $110,714 $3,512 4.07%
    VA 2 $300,000 $150,000 $4,532 4.25%

    For 2019, Banco Santander Puerto Rico's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was FHA, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 166 $24,500,000 $147,590 $3,617 5.04%
    Refi 25 $4,355,000 $174,200 $4,476 5.71%
    Cash Out Refi 25 $3,155,000 $126,200 $3,837 5.28%
    Home Improvement 1 $35,000 $35,000 $0 8.75%

    For 2019, Banco Santander Puerto Rico's most frequently cited loan purpose was Home Purchase, with 166 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 139 $20,365,000 $146,511 $3,862 4.87%
    30+ year 27 $3,565,000 $132,037 $2,702 5.54%
    15 Year 19 $3,265,000 $171,842 $4,170 5.55%
    20 Year 9 $1,175,000 $130,556 $3,499 4.58%
    10 Year 9 $955,000 $106,111 $2,936 5.94%
    5 Year 8 $1,360,000 $170,000 $0 7.08%
    Other 6 $1,360,000 $226,667 $3,894 6.88%

    For 2019, Banco Santander Puerto Rico's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was 30+ year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $20,745,000 $141,122
    $1k-2k 26 $3,090,000 $118,846
    $2k-3k 9 $1,465,000 $162,778
    $3k-4k 3 $705,000 $235,000
    $5k+ 2 $620,000 $310,000
    $4k-5k 1 $305,000 $305,000

    Banco Santander Puerto Rico's average total fees were $3,862, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 80 $9,710,000 $121,375
    4-5% 56 $8,640,000 $154,286
    3-4% 43 $7,655,000 $178,023
    6-7% 13 $1,395,000 $107,308
    7-8% 9 $1,915,000 $212,778
    Over 8% 5 $585,000 $117,000

    During 2019, Banco Santander Puerto Rico's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 5-6%, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 91 $12,465,000 $136,978 $3,470 5.19%
    $100,000 or less 82 $5,820,000 $70,976 $2,422 5.22%
    $200k-400k 34 $9,230,000 $271,471 $7,073 4.76%
    $400k-600k 10 $4,530,000 $453,000 $6,882 5.06%

    2019 saw Banco Santander Puerto Rico place emphasis on $100k-200k loans with 91 originations, totaling $12,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 80 $7,370,000 $92,125 $2,881 5.01%
    $50k-75k 41 $5,875,000 $143,293 $3,273 5.34%
    $100k-150k 24 $4,970,000 $207,083 $5,147 5.16%
    $150k-250k 23 $5,725,000 $248,913 $4,917 4.74%
    $75k-100k 15 $2,155,000 $143,667 $3,840 5.43%
    $250k+ 14 $2,940,000 $210,000 $6,534 5.96%

    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 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 25 $3,305,000 $132,200 $3,882 5.10%
    20-30% 25 $2,985,000 $119,400 $3,467 4.92%
    47% 22 $2,400,000 $109,091 $2,858 5.23%
    44% 12 $1,700,000 $141,667 $4,675 4.92%
    37% 12 $1,660,000 $138,333 $3,964 4.27%
    46% 11 $2,165,000 $196,818 $3,940 4.40%
    48% 10 $1,500,000 $150,000 $3,068 5.13%
    <20% 10 $1,290,000 $129,000 $3,336 5.14%
    40% 9 $2,275,000 $252,778 $6,269 4.26%
    45% 8 $1,080,000 $135,000 $3,417 4.84%
    42% 7 $1,045,000 $149,286 $4,209 4.93%
    41% 7 $815,000 $116,429 $3,027 4.93%
    43% 7 $1,375,000 $196,429 $3,729 5.09%
    49% 7 $885,000 $126,429 $3,145 5.13%
    38% 6 $960,000 $160,000 $3,201 4.71%
    36% 5 $1,005,000 $201,000 $3,761 4.98%
    39% 4 $430,000 $107,500 $2,742 5.31%
    >60% 1 $55,000 $55,000 $3,057 3.50%

    Banco Santander Puerto Rico lent most frequently to those with DTI ratios of 30-36%, with 25 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 177 $26,855,000 $151,723 $3,822 5.05%
    Black 30 $3,300,000 $110,000 $2,916 5.13%
    Not applicable 7 $1,455,000 $207,857 $0 7.62%
    American Indian 2 $330,000 $165,000 $0 7.63%
    Asian 1 $105,000 $105,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    76.49%

    Banco Santander Puerto Rico has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.10%

    Banco Santander Puerto Rico has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 217 $32,045,000 $147,673

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 217 $32,045,000 $147,673

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $520,000 $260,000 $4,415 5.69%
    40-60% 13 $885,000 $68,077 $2,978 5.73%
    60-80% 51 $7,855,000 $154,020 $3,825 5.17%
    80-100% 146 $21,390,000 $146,507 $3,677 5.05%
    Over 100% 4 $1,320,000 $330,000 $0 7.75%
    Under 20% 1 $75,000 $75,000 $0 3.75%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OZK Conventional home mortgage Closing on a mortgage 1 50.0%
    BANK OZK Conventional home mortgage Trouble during payment process 1 50.0%

    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 $144,617
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 917 Full Service B&M $2,084,487
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 919 Full Service B&M $564,251
    Banco Santander Puerto Rico 521 Jose Cedeno Avenue Arecibo, PR 612 Full Service B&M $88,007
    Banco Santander Puerto Rico 65th Infantry Avenue 13th Street San Juan, PR 926 Full Service B&M $71,978
    Banco Santander Puerto Rico 7 Calle Tabonuco, Santander Tower, Ph, B Guaynabo, PR 968 Full Service B&M $35,032
    Banco Santander Puerto Rico Bayamon Oeste Shopping Center Bayamon, PR 985 Full Service B&M $51,110
    Banco Santander Puerto Rico Bo. San Anton, Carretera Num. 3 Carolina, PR 984 Full Service B&M $50,090
    Banco Santander Puerto Rico Calle Tabonuco B-4 Guaynabo, PR 968 Full Service B&M $158,943
    Banco Santander Puerto Rico Carolina Shopping Center Carolina, PR 982 Full Service B&M $66,282
    Banco Santander Puerto Rico Carretera No. 2 Corner Carretera No. 167 Bayamon, PR 957 Full Service B&M $175,964
    Banco Santander Puerto Rico Centro Comercial Los Dominicos Levittown, PR 949 Full Service B&M $35,722
    Banco Santander Puerto Rico Centro Commercial Del Montehiedra Town Center, Avenida Los Romeros #941 Rio Piedras, PR 926 Full Service B&M $36,443
    Banco Santander Puerto Rico Loiza And San Jorge Street Santurce, PR 911 Full Service B&M $176,461
    Banco Santander Puerto Rico Lot #3, Barrio Montellano, Carretera Numero 1 Cayey, PR 736 Full Service B&M $66,612
    Banco Santander Puerto Rico Mayaguez Mall Shopping Ctr Mayaguez, PR 680 Full Service B&M $91,788
    Banco Santander Puerto Rico Mendez Vigo And Las Nereidas Streets Mayaguez, PR 682 Full Service B&M $82,179
    Banco Santander Puerto Rico Plaza Degetau, Amor Street Ponce, PR 731 Full Service B&M $236,885
    Banco Santander Puerto Rico Plaza Del Caribe Mall, State Road #1 Ponce, PR 731 Full Service B&M $101,959
    Banco Santander Puerto Rico Plaza Del Sol Shopping Center Avenid Bayamon, PR 961 Full Service B&M $33,076
    Banco Santander Puerto Rico Plaza Las Americas Shopping Center San Juan, PR 913 Full Service B&M $157,669
    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 $66,916
    Banco Santander Puerto Rico Plazoleta Las Cumbres Guaynabo, PR 969 Full Service B&M $95,225
    Banco Santander Puerto Rico Road #2, Kilometer 37.5 Bo Caribe & State Road Number 688 Vega Baja, PR 693 Full Service B&M $99,348
    Banco Santander Puerto Rico Ruiz Belvis And Miramar Streets San Sebastian, PR 685 Full Service B&M $65,047
    Banco Santander Puerto Rico San Carlos Avenue And Betances St. Aguadilla, PR 603 Full Service B&M $67,542
    Banco Santander Puerto Rico Villa Del Carmen Shopping Center Caguas, PR 725 Full Service B&M $137,085

    For 2019, Banco Santander Puerto Rico had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $257,974
    Net interest income $218,063
    Total noninterest income $26,813
    Gross Fiduciary activities income $327
    Service charges on deposit accounts $8,996
    Trading account gains and fees $455
    Additional Noninterest Income $17,035
    Pre-tax net operating income $104,326
    Securities gains (or losses, -) $289
    Income before extraordinary items $66,738
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $66,738
    Minority interest net income $0
    Net income $66,738
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $66,509

    Banco Santander Puerto Rico's gross interest income from loans was $257,974,000.
    Banco Santander Puerto Rico's net interest income from loans was $218,063,000.
    Banco Santander Puerto Rico's fee based income from loans was $8,996,000.
    Banco Santander Puerto Rico's net income from loans was $66,738,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $39,911
    Provision for credit losses $-7,864
    Total noninterest expense $148,414
    Salaries and employee benefits $57,815
    Premises and equipment expense $22,637
    Additional noninterest expense $67,962
    Applicable income taxes $37,877
    Net charge-offs $35,687
    Cash dividends $1,250

    Banco Santander Puerto Rico's interest expense for loans was $39,911,000.
    Banco Santander Puerto Rico's payroll and benefits expense were $57,815,000.
    Banco Santander Puerto Rico's property, plant and equipment expenses $22,637,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 1.7%
    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 $4,848,008
    Deposits held in domestic offices $4,848,008
    Deposits by Individuals, partnerships, and corporations $3,151,796
    Deposits by U.S. Government $72,017
    Deposits by States and political subdivisions in the U.S. $1,616,806
    Deposits by Commercial banks and other depository institutions in U.S. $7,389
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $3,381,282
    Demand deposits $2,782,059
    Nontransaction accounts $1,466,726
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $950,175
    Total time deposits $516,550
    Total time and savings deposits $2,065,949
    Noninterest-bearing deposits $877,590
    Interest-bearing deposits $3,970,418
    Retail deposits $4,467,009
    IRAs and Keogh plan accounts $20,777
    Brokered deposits $28,408
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,005,654
    Cash & Balances due from depository institutions $960,014
    Interest-bearing balances $891,620
    Total securities $2,191,737
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,676,259
    Loan and leases loss allowance $67,218
    Trading account assets $1,374
    Bank premises and fixed assets $67,558
    Other real estate owned $1,834
    Goodwill and other intangibles $6,081
    All other assets $100,797

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,005,654
    Total Liabilities $4,969,013
    Total deposits $4,848,008
    Interest-bearing deposits $3,970,418
    Deposits held in domestic offices $4,848,008
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,360
    Other borrowed funds $5,403
    Subordinated debt $0
    All other liabilities $114,242

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,676,259
    Loan and leases loss allowance $67,218
    Total loans and leases (domestic) $2,743,477
    All real estate loans $2,031,492
    Real estate loans in domestic offices $2,031,492
    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 $1,107,720
    Nonfarm nonresidential secured by owner-occupied properties $450,686
    Commercial real estate & other non-farm, non-residential $657,034
    Multifamily residential real estate $47,173
    1-4 family residential loans $876,599
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $1,094
    Commercial and industrial loans $149,852
    To non-U.S. addressees $194
    Loans to individuals $258,528
    Credit card loans $91,857
    Related Plans $3,768
    Consumer Auto Loans $0
    Other loans to individuals $162,903
    All other loans & leases $302,511
    Loans to foreign governments and official institutions $0
    Other loans $57,363
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $24,228
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $149,420
    Non 1-4 family restructured loans & leases $56,319
    Total loans and leases (foreign) $0

    BANCO SANTANDER PUERTO RICO had $2,676,259,000 of loans outstanding in 2019. $2,031,492,000 of loans were in real estate loans. $0 of loans were in development loans. $47,173,000 of loans were in multifamily mortgage loans. $876,599,000 of loans were in 1-4 family mortgage loans. $1,094,000 of loans were in farm loans. $91,857,000 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 921 $155,317 $168,640
    Nonfarm, nonresidential loans - <$100k 210 $10,277 $48,938
    Nonfarm, nonresidential loans - $100-250k 457 $51,770 $113,282
    Nonfarm, nonresidential loans - $250k-1MM 254 $93,270 $367,205
    Commercial & Industrial, US addressed loans - <$1MM 294 $40,145 $136,548
    Commercial & Industrial, US addressed loans - <$100k 114 $3,703 $32,482
    Commercial & Industrial, US addressed loans - $100-250k 113 $13,332 $117,982
    Commercial & Industrial, US addressed loans - $250k-1MM 67 $23,110 $344,925
    Agriculture operations loans - <$1MM 4 $602 $150,500
    Agriculture operations loans - <$100k 2 $53 $26,500
    Agriculture operations loans - $100-250k 1 $173 $173,000
    Agriculture operations loans - $250k-1MM 1 $376 $376,000