Scotiabank De Puerto Rico Mortgage Rates, Fees & Info

San Juan, PR

LEI: 549300QT4SBXGF2B9B45

Tax ID: 66-0372744

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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

    Scotiabank De Puerto Rico is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Scotiabank De Puerto Rico has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Juan, Aguadilla, Ponce, Arecibo, and San GermÁn among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Scotiabank De 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. Scotiabank De 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

    986

    Origination Dollar Volume (All Markets)

    $121,730,000
    Show all (16) 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) 755 $98,575,000 $130,563 $4,934 3.91%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 48 $5,550,000 $115,625 $4,122 3.97%
    PONCE, PR (FHA|USDA|VA) 55 $5,015,000 $91,182 $3,674 3.96%
    Arecibo, PR (FHA|USDA|VA) 32 $3,670,000 $114,688 $4,589 3.63%
    SAN GERMÁN, PR (FHA|USDA|VA) 35 $3,415,000 $97,571 $3,781 3.80%
    MAYAGÜEZ, PR (FHA|USDA|VA) 23 $2,595,000 $112,826 $4,558 3.60%
    GUAYAMA, PR (FHA|USDA|VA) 13 $865,000 $66,538 $3,052 3.37%
    Coamo, PR (FHA|USDA|VA) 8 $710,000 $88,750 $4,466 3.63%
    Santa Isabel, PR (FHA|USDA|VA) 6 $530,000 $88,333 $4,076 3.54%
    YAUCO, PR (FHA|USDA|VA) 6 $440,000 $73,333 $3,173 3.65%
    Coco, PR (FHA|USDA|VA) 3 $185,000 $61,667 $3,144 4.00%
    Jayuya, PR (FHA|USDA|VA) 1 $105,000 $105,000 $4,597 3.00%
    Outside of Metro Areas 1 $75,000 $75,000 $2,059 4.00%
    Scotiabank De Puerto Rico's top markets include San Juan, Aguadilla, Ponce, Arecibo, and San GermÁn among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Scotiabank de 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 Ahorro y Credito de Rincon
    Similarity Rank: 50
    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
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 335
    MULTIPLES MORTGAGE CORPORATION
    Similarity Rank: 396

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 580 $72,950,000 $125,776 $4,618 4.03%
    FHA 233 $27,865,000 $119,592 $5,178 3.70%
    USDA 126 $14,310,000 $113,571 $4,450 3.64%
    VA 47 $6,605,000 $140,532 $3,933 3.69%

    For 2019, Scotiabank De Puerto Rico's most frequently originated type of loan was Conventional, with 580 originations. Their 2nd most popular type was FHA, with 233 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 543 $71,825,000 $132,274 $4,606 3.99%
    Cash Out Refi 230 $24,440,000 $106,261 $4,614 3.61%
    Refi 201 $24,615,000 $122,463 $5,233 3.94%
    Home Improvement 12 $850,000 $70,833 $3,834 3.43%

    For 2019, Scotiabank De Puerto Rico's most frequently cited loan purpose was Home Purchase, with 543 originations. The 2nd most popular reason was Cash Out Refi, with 230 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 701 $91,485,000 $130,506 $4,709 3.95%
    15 Year 169 $19,085,000 $112,929 $4,918 3.49%
    20 Year 46 $5,760,000 $125,217 $4,672 4.33%
    10 Year 36 $2,680,000 $74,444 $3,862 3.35%
    Other 31 $2,595,000 $83,710 $4,257 4.28%
    5 Year 3 $125,000 $41,667 $2,751 5.17%

    For 2019, Scotiabank De Puerto Rico's most frequently cited loan duration was 30 Year, with 701 originations. The 2nd most popular length was 15 Year, with 169 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 382 $43,360,000 $113,508
    $1k-2k 272 $26,790,000 $98,493
    $2k-3k 190 $21,670,000 $114,053
    $3k-4k 60 $9,180,000 $153,000
    $5k+ 43 $12,965,000 $301,512
    $4k-5k 26 $6,120,000 $235,385

    Scotiabank De Puerto Rico's average total fees were $4,709, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 382 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 466 $56,210,000 $120,622
    4-5% 295 $37,865,000 $128,356
    2.5-3% 159 $18,465,000 $116,132
    5-6% 39 $5,925,000 $151,923
    <2.5% 24 $2,870,000 $119,583
    6-7% 2 $370,000 $185,000
    7-8% 1 $25,000 $25,000

    During 2019, Scotiabank De Puerto Rico's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 466 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 464 $32,800,000 $70,690 $3,409 3.88%
    $100k-200k 413 $55,265,000 $133,814 $5,010 3.83%
    $200k-400k 86 $22,640,000 $263,256 $8,451 4.05%
    $400k-600k 22 $10,410,000 $473,182 $11,387 4.22%
    $600k-1MM 1 $615,000 $615,000 $8,482 5.00%

    2019 saw Scotiabank De Puerto Rico place emphasis on $100,000 or less loans with 464 originations, totaling $32,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 543 $49,595,000 $91,335 $4,002 3.82%
    $50k-75k 212 $26,240,000 $123,774 $4,761 3.86%
    $100k-150k 79 $15,395,000 $194,873 $6,456 4.04%
    $75k-100k 78 $11,940,000 $153,077 $5,446 4.07%
    $150k-250k 43 $10,645,000 $247,558 $7,146 4.13%
    $250k+ 25 $6,815,000 $272,600 $7,418 4.04%

    Scotiabank De Puerto Rico lent most frequently to those with incomes in the $50k or less range, with 543 originations. The second most popular income band? $50k-75k, with 212 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 191 $21,635,000 $113,272 $4,539 3.75%
    30-36% 176 $20,910,000 $118,807 $4,547 3.90%
    <20% 76 $8,040,000 $105,789 $4,494 3.60%
    43% 54 $6,460,000 $119,630 $4,185 3.92%
    41% 52 $6,700,000 $128,846 $5,182 3.77%
    44% 43 $5,005,000 $116,395 $4,360 3.84%
    38% 43 $6,035,000 $140,349 $5,193 3.89%
    42% 40 $6,010,000 $150,250 $5,590 3.75%
    48% 38 $5,210,000 $137,105 $5,064 3.83%
    39% 36 $4,490,000 $124,722 $4,786 4.01%
    40% 36 $4,530,000 $125,833 $4,871 3.95%
    37% 32 $4,990,000 $155,938 $4,989 4.13%
    49% 30 $3,870,000 $129,000 $5,212 3.66%
    36% 29 $3,275,000 $112,931 $3,782 3.96%
    >60% 27 $4,185,000 $155,000 $5,115 5.13%
    45% 24 $2,640,000 $110,000 $4,635 3.93%
    47% 19 $2,605,000 $137,105 $4,861 3.78%
    50-60% 17 $1,915,000 $112,647 $4,928 4.58%
    46% 15 $2,385,000 $159,000 $6,094 3.84%

    Scotiabank De Puerto Rico lent most frequently to those with DTI ratios of 20-30%, with 191 originations. The next most common DTI ratio? 30-36%, with 176 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 918 $113,670,000 $123,824 $4,709 3.87%
    Black 58 $6,290,000 $108,448 $4,392 4.04%
    Not provided 5 $805,000 $161,000 $5,732 4.40%
    Not applicable 1 $475,000 $475,000 $0 5.00%
    Chinese 1 $225,000 $225,000 $10,218 3.38%
    American Indian 2 $170,000 $85,000 $4,429 3.69%
    Native Hawaiian or Islander 1 $95,000 $95,000 $4,684 3.38%

    Approval Rates

    Total approvals of all applications
    76.44%

    Scotiabank De Puerto Rico has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.91%

    Scotiabank De Puerto Rico has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 986 $121,730,000 $123,458

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 986 $121,730,000 $123,458

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $2,540,000 $66,842 $4,233 4.07%
    40-60% 94 $8,760,000 $93,191 $4,020 3.68%
    60-80% 293 $34,875,000 $119,027 $4,504 3.90%
    80-100% 532 $71,750,000 $134,868 $4,940 3.88%
    Over 100% 23 $3,625,000 $157,609 $5,110 4.09%
    Under 20% 6 $180,000 $30,000 $3,139 4.69%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SOUTHPOINT FINANCIAL SERVICES, INC. FHA mortgage Trouble during payment process 1 100.0%