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 also have a high ratio of USDA loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Juan, Arecibo, San GermÁn, and Aguadilla 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Refi | 5.68% | 12/16/24 |
| 15 Year Cash-out Refi | 5.68% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
106Origination Dollar Volume (All Markets)
$11,150,000Top 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) | 98 | $10,490,000 | $107,041 | $19,878 | 4.29% |
| Arecibo, PR (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $6,543 | 4.00% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 5.00% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,696 | 5.13% |
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.
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Product Mix
For 2020, Cooperativa De Ahorro Y Credito Vega Alta's most frequently originated type of loan was Conventional, with 53 originations. Their 2nd most popular type was USDA, with 30 originations.
Loan Reason
For 2020, Cooperativa De Ahorro Y Credito Vega Alta's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
For 2020, Cooperativa De Ahorro Y Credito Vega Alta's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was Other, with 4 originations.
Origination Fees/Closing Costs
Cooperativa De Ahorro Y Credito Vega Alta's average total fees were $21,358, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 31 | $3,645,000 | $117,581 |
| 5-6% | 28 | $3,280,000 | $117,143 |
| 4-5% | 27 | $2,165,000 | $80,185 |
| 3-4% | 17 | $1,915,000 | $112,647 |
| 6-7% | 3 | $145,000 | $48,333 |
During 2020, Cooperativa De Ahorro Y Credito Vega Alta's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 2.5-3%, with 31 originations.
Loan Sizing
2020 saw Cooperativa De Ahorro Y Credito Vega Alta place emphasis on $100,000 or less loans with 56 originations, totaling $3,730,000 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 76 originations. The second most popular income band? $50k-75k, with 22 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 25 originations. The next most common DTI ratio? 30-36%, with 17 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 104 | $10,800,000 | $103,846 | $19,410 | 4.34% |
| Black | 2 | $350,000 | $175,000 | $10,364 | 3.50% |
Approval Rates
Total approvals of all applications99.07%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 106 | $11,150,000 | $105,189 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 106 | $11,150,000 | $105,189 |