Cooperativa De Ahorro Y Credito Vega Alta Mortgage Rates, Fees & Info
Vega Alta,LEI: 549300RE7CP5SUFPFX27
Tax ID: 66-0214784
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Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito Vega Alta is a smaller mortgage company specializing in Home Purchase and Refi loans. Cooperativa De Ahorro Y Credito Vega Alta 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, and San GermÁn among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa De Ahorro Y Credito Vega Alta 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 Vega Alta is typically a high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 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 Vega Alta Mortgage Calculator
Your Estimates
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This is not an official calculator from Cooperativa De Ahorro Y Credito Vega Alta. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
81Origination Dollar Volume (All Markets)
$9,595,000Relative Rate
Cooperativa De Ahorro Y Credito Vega Alta's average 30 year fixed mortgage rate was
7.07%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.52%.
Relative Fees (Closing Costs)
Cooperativa De Ahorro Y Credito Vega Alta's average total fees/closing costs for a 30 year fixed rate
mortgage were $43,850.
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 $8,356.
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) | 77 | $9,055,000 | $117,597 | $43,172 | 7.10% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $8,505 | 6.75% |
| Arecibo, PR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,871 | 6.75% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 4
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Product Mix
For 2024, Cooperativa De Ahorro Y Credito Vega Alta's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was FHA, with 8 originations.
Loan Reason
For 2024, Cooperativa De Ahorro Y Credito Vega Alta's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
For 2024, Cooperativa De Ahorro Y Credito Vega Alta's most frequently cited loan duration was 30 Year, with 77 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito Vega Alta's average total fees were $43,850, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 57 | $6,665,000 | $116,930 |
| 7-8% | 21 | $2,685,000 | $127,857 |
| Over 8% | 3 | $245,000 | $81,667 |
During 2024, Cooperativa De Ahorro Y Credito Vega Alta's average interest rate for loans was 7.07%, while their most frequently originated rate bucket for loans was 6-7%, with 57 originations.
Loan Sizing
2024 saw Cooperativa De Ahorro Y Credito Vega Alta place emphasis on $100k-200k loans with 41 originations, totaling $5,665,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito Vega Alta lent most frequently to those with incomes in the $50k or less range, with 46 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito Vega Alta lent most frequently to those with DTI ratios of 20-30%, with 19 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 | 76 | $9,140,000 | $120,263 | $44,513 | 7.09% |
| Black | 5 | $455,000 | $91,000 | $6,287 | 7.20% |
Approval Rates
Total approvals of all applications95.80%
Cooperativa De Ahorro Y Credito Vega Alta has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.49%
Cooperativa De Ahorro Y Credito Vega Alta has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 81 | $9,595,000 | $118,457 |