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)

    • Review & Overview

    Banco Santander Puerto Rico is a smaller mortgage company specializing in Refi and 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, Ponce, Coco, San GermÁn, and MayagÜez among others. We have data for 9 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

    78

    Origination Dollar Volume (All Markets)

    $13,420,000

    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) 64 $11,940,000 $186,563 $3,822 3.27%
    PONCE, PR (FHA|USDA|VA) 3 $475,000 $158,333 $3,446 4.29%
    Coco, PR (FHA|USDA|VA) 2 $230,000 $115,000 $4,442 3.00%
    SAN GERMÁN, PR (FHA|USDA|VA) 2 $190,000 $95,000 $3,023 2.44%
    MAYAGÜEZ, PR (FHA|USDA|VA) 2 $190,000 $95,000 $2,479 3.88%
    Arecibo, PR (FHA|USDA|VA) 2 $170,000 $85,000 $2,194 3.56%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 1 $105,000 $105,000 $4,335 2.50%
    Coamo, PR (FHA|USDA|VA) 1 $65,000 $65,000 $2,261 5.63%
    Santa Isabel, PR (FHA|USDA|VA) 1 $55,000 $55,000 $1,957 3.00%
    Banco Santander Puerto Rico's top markets include San Juan, Ponce, Coco, San GermÁn, 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: 42
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 52
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 69
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 96
    The Lending Center Corporation
    Similarity Rank: 132
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 145
    Cooperativa A/C de Arecibo
    Similarity Rank: 217
    Oriental Bank
    Similarity Rank: 242
    Cooperativa A/C Oriental
    Similarity Rank: 300

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $11,735,000 $180,538 $3,619 3.36%
    FHA 10 $1,190,000 $119,000 $4,366 3.15%
    VA 2 $440,000 $220,000 $3,362 3.00%
    USDA 1 $55,000 $55,000 $1,957 3.00%

    For 2020, Banco Santander Puerto Rico's most frequently originated type of loan was Conventional, with 65 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 36 $7,250,000 $201,389 $4,218 2.80%
    Home Purchase 29 $4,375,000 $150,862 $3,168 3.99%
    Cash Out Refi 13 $1,795,000 $138,077 $3,420 3.27%

    For 2020, Banco Santander Puerto Rico's most frequently cited loan purpose was Refi, with 36 originations. The 2nd most popular reason was Home Purchase, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 39 $5,595,000 $143,462 $3,333 3.71%
    15 Year 17 $3,285,000 $193,235 $3,930 2.56%
    20 Year 11 $2,555,000 $232,273 $4,790 3.20%
    Other 6 $1,320,000 $220,000 $3,644 3.06%
    10 Year 4 $580,000 $145,000 $3,154 2.16%
    5 Year 1 $85,000 $85,000 $0 8.25%

    For 2020, Banco Santander Puerto Rico's most frequently cited loan duration was 30 Year, with 39 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 59 $10,935,000 $185,339
    $1k-2k 12 $1,580,000 $131,667
    $2k-3k 6 $820,000 $136,667

    Banco Santander Puerto Rico's average total fees were $3,333, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 25 $4,375,000 $175,000
    2.5-3% 24 $5,440,000 $226,667
    3-4% 11 $1,785,000 $162,273
    4-5% 11 $1,275,000 $115,909
    5-6% 6 $460,000 $76,667
    Over 8% 1 $85,000 $85,000

    During 2020, Banco Santander Puerto Rico's average interest rate for loans was 3.71%, while their most frequently originated rate bucket for loans was <2.5%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,265,000 $137,581 $3,732 3.05%
    $100,000 or less 25 $1,945,000 $77,800 $2,653 4.09%
    $200k-400k 15 $3,975,000 $265,000 $4,579 2.71%
    $400k-600k 7 $3,235,000 $462,143 $5,131 3.05%

    2020 saw Banco Santander Puerto Rico place emphasis on $100k-200k loans with 31 originations, totaling $4,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $2,275,000 $98,913 $3,158 4.08%
    $75k-100k 9 $1,285,000 $142,778 $3,520 3.28%
    $50k-75k 8 $890,000 $111,250 $3,614 3.03%
    $100k-150k 6 $1,430,000 $238,333 $4,591 2.65%
    $250k+ 5 $1,825,000 $365,000 $4,011 3.10%
    $150k-250k 4 $1,350,000 $337,500 $5,173 3.13%

    Banco Santander Puerto Rico lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $3,315,000 $195,000 $3,289 3.01%
    30-36% 16 $2,520,000 $157,500 $3,671 3.34%
    49% 6 $920,000 $153,333 $3,015 3.60%
    45% 5 $865,000 $173,000 $4,844 3.85%
    48% 5 $985,000 $197,000 $2,935 3.23%
    <20% 4 $1,310,000 $327,500 $5,920 2.81%
    44% 4 $490,000 $122,500 $3,584 3.38%
    43% 4 $540,000 $135,000 $4,554 2.84%
    37% 3 $635,000 $211,667 $3,346 3.21%
    36% 2 $220,000 $110,000 $4,102 2.38%
    40% 2 $260,000 $130,000 $3,435 2.69%
    47% 2 $530,000 $265,000 $4,182 3.88%
    46% 2 $210,000 $105,000 $3,601 2.69%
    50-60% 1 $95,000 $95,000 $4,129 3.00%
    38% 1 $65,000 $65,000 $1,330 5.00%
    39% 1 $225,000 $225,000 $4,075 2.00%
    41% 1 $95,000 $95,000 $4,145 4.63%
    42% 1 $55,000 $55,000 $1,716 5.25%

    Banco Santander Puerto Rico lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $12,350,000 $176,429 $3,794 3.29%
    Black 8 $1,070,000 $133,750 $2,768 3.55%

    Approval Rates

    Total approvals of all applications
    75.91%

    Banco Santander Puerto Rico has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.49%

    Banco Santander Puerto Rico has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 78 $13,420,000 $172,051

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 78 $13,420,000 $172,051

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 11 $1,935,000 $175,909 $3,712 2.60%
    60-80% 32 $6,940,000 $216,875 $4,113 2.86%
    80-100% 35 $4,545,000 $129,857 $3,279 3.96%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OZK Conventional home mortgage Trouble during payment process 1 25.0%
    BANK OZK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%
    BANK OZK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    BANK OZK Other type of mortgage Trouble during payment process 1 25.0%

    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 $129,244
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 917 Full Service B&M $1,731,312
    Banco Santander Puerto Rico 207 Ponce De Leon Avenue San Juan, PR 919 Full Service B&M $585,382
    Banco Santander Puerto Rico 521 Jose Cedeno Avenue Arecibo, PR 612 Full Service B&M $98,646
    Banco Santander Puerto Rico 65th Infantry Avenue 13th Street San Juan, PR 926 Full Service B&M $80,679
    Banco Santander Puerto Rico 7 Calle Tabonuco, Santander Tower, Ph, B Guaynabo, PR 968 Full Service B&M $30,342
    Banco Santander Puerto Rico Bayamon Oeste Shopping Center Bayamon, PR 985 Full Service B&M $60,099
    Banco Santander Puerto Rico Bo. San Anton, Carretera Num. 3 Carolina, PR 984 Full Service B&M $46,983
    Banco Santander Puerto Rico Calle Tabonuco B-4 Guaynabo, PR 968 Full Service B&M $167,756
    Banco Santander Puerto Rico Carolina Shopping Center Carolina, PR 982 Full Service B&M $79,377
    Banco Santander Puerto Rico Carretera No. 2 Corner Carretera No. 167 Bayamon, PR 957 Full Service B&M $184,640
    Banco Santander Puerto Rico Centro Comercial Los Dominicos Levittown, PR 949 Full Service B&M $43,699
    Banco Santander Puerto Rico Centro Commercial Del Montehiedra Town Center, Avenida Los Romeros #941 Rio Piedras, PR 926 Full Service B&M $40,366
    Banco Santander Puerto Rico Loiza And San Jorge Street Santurce, PR 911 Full Service B&M $201,486
    Banco Santander Puerto Rico Lot #3, Barrio Montellano, Carretera Numero 1 Cayey, PR 736 Full Service B&M $70,544
    Banco Santander Puerto Rico Mayaguez Mall Shopping Ctr Mayaguez, PR 680 Full Service B&M $98,832
    Banco Santander Puerto Rico Mendez Vigo And Las Nereidas Streets Mayaguez, PR 682 Full Service B&M $65,564
    Banco Santander Puerto Rico Plaza Degetau, Amor Street Ponce, PR 731 Full Service B&M $245,703
    Banco Santander Puerto Rico Plaza Del Caribe Mall, State Road #1 Ponce, PR 731 Full Service B&M $120,479
    Banco Santander Puerto Rico Plaza Del Sol Shopping Center Avenid Bayamon, PR 961 Full Service B&M $39,735
    Banco Santander Puerto Rico Plaza Las Americas Shopping Center San Juan, PR 913 Full Service B&M $158,949
    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 $73,028
    Banco Santander Puerto Rico Plazoleta Las Cumbres Guaynabo, PR 969 Full Service B&M $102,851
    Banco Santander Puerto Rico Road #2, Kilometer 37.5 Bo Caribe & State Road Number 688 Vega Baja, PR 693 Full Service B&M $108,563
    Banco Santander Puerto Rico Ruiz Belvis And Miramar Streets San Sebastian, PR 685 Full Service B&M $74,690
    Banco Santander Puerto Rico San Carlos Avenue And Betances St. Aguadilla, PR 603 Full Service B&M $75,638
    Banco Santander Puerto Rico Villa Del Carmen Shopping Center Caguas, PR 725 Full Service B&M $147,281

    For 2020, Banco Santander Puerto Rico had 27 branches.

    Yearly Performance Overview