The Money House Mortgage Rates, Fees & Info

San Juan,

LEI: 549300TDRENNEZ2S6M03

Tax ID: 66-0545351

5 stars - Updated: 7/20/24 - out of 5 stars, based on 33 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

The Money House is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. The Money House has an average proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: San Juan, Ponce, Guayama, San GermÁn, and Arecibo among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Money House has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Money House is typically an average 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 relatively high 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

1,085

Origination Dollar Volume (All Markets)

$164,275,000
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Relative Rate

The Money House's average 30 year fixed mortgage rate was 6.65%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

The Money House's average total fees/closing costs for a 30 year fixed rate mortgage were $8,036.

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 $9,089.

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) 791 $118,925,000 $150,348 $8,489 6.64%
PONCE, PR (FHA|USDA|VA) 85 $13,345,000 $157,000 $6,845 6.66%
GUAYAMA, PR (FHA|USDA|VA) 42 $6,380,000 $151,905 $5,839 6.65%
SAN GERMÁN, PR (FHA|USDA|VA) 37 $5,805,000 $156,892 $6,702 6.58%
Arecibo, PR (FHA|USDA|VA) 30 $4,640,000 $154,667 $7,405 6.89%
YAUCO, PR (FHA|USDA|VA) 33 $4,435,000 $134,394 $7,238 6.63%
MAYAGÜEZ, PR (FHA|USDA|VA) 20 $2,940,000 $147,000 $7,122 6.61%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 19 $2,505,000 $131,842 $8,654 6.61%
Coco, PR (FHA|USDA|VA) 13 $1,995,000 $153,462 $5,702 6.65%
Coamo, PR (FHA|USDA|VA) 7 $1,665,000 $237,857 $5,348 6.64%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $700,000 $350,000 $13,487 6.19%
Santa Isabel, PR (FHA|USDA|VA) 3 $425,000 $141,667 $7,463 6.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $4,843 6.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $135,000 $135,000 $6,214 7.63%
Jayuya, PR (FHA|USDA|VA) 1 $75,000 $75,000 $3,648 7.50%
The Money House's top markets include San Juan, Ponce, Guayama, San GermÁn, and Arecibo among others.

Their top states include:
  • Puerto Rico (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against THE MONEY HOUSE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 833 $128,345,000 $154,076 $8,384 6.57%
    Conventional 122 $13,510,000 $110,738 $6,579 7.25%
    USDA 87 $14,305,000 $164,425 $7,035 6.58%
    VA 40 $7,970,000 $199,250 $7,736 6.66%
    FHA 3 $145,000 $48,333 $0 3.35%

    For 2023, The Money House's most frequently originated type of loan was FHA, with 833 originations. Their 2nd most popular type was Conventional, with 122 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,035 $156,925,000 $151,618 $8,022 6.65%
    Cash Out Refi 36 $4,890,000 $135,833 $8,485 6.49%
    Refi 14 $2,460,000 $175,714 $8,954 6.68%

    For 2023, The Money House's most frequently cited loan purpose was Home Purchase, with 1,035 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,066 $161,320,000 $151,332 $8,036 6.65%
    15 Year 12 $2,090,000 $174,167 $8,029 6.73%
    Other 5 $615,000 $123,000 $10,051 5.01%
    20 Year 2 $250,000 $125,000 $12,219 6.00%

    For 2023, The Money House's most frequently cited loan duration was 30 Year, with 1,066 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 312 $44,870,000 $143,814
    $3k-4k 241 $36,205,000 $150,228
    $1k-2k 194 $24,410,000 $125,825
    $<1k 131 $20,005,000 $152,710
    $5k+ 105 $20,365,000 $193,952
    $4k-5k 99 $18,275,000 $184,596

    The Money House's average total fees were $8,036, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 312 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 868 $133,730,000 $154,067
    7-8% 133 $17,875,000 $134,398
    5-6% 71 $11,525,000 $162,324
    Over 8% 11 $1,065,000 $96,818
    <2.5% 2 $80,000 $40,000

    During 2023, The Money House's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 868 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 464 $64,960,000 $140,000 $8,413 6.63%
    $100,000 or less 392 $28,530,000 $72,781 $6,814 6.69%
    $200k-400k 190 $52,520,000 $276,421 $9,493 6.59%
    $400k-600k 37 $16,955,000 $458,243 $9,070 6.59%
    $600k-1MM 2 $1,310,000 $655,000 $7,167 6.75%

    2023 saw The Money House place emphasis on $100k-200k loans with 464 originations, totaling $64,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 657 $91,405,000 $139,125 $6,644 6.62%
    $50k-75k 210 $33,700,000 $160,476 $8,832 6.64%
    $75k-100k 94 $16,530,000 $175,851 $9,985 6.66%
    $100k-150k 74 $13,280,000 $179,459 $11,881 6.73%
    $150k-250k 40 $7,590,000 $189,750 $13,866 6.84%
    $250k+ 10 $1,770,000 $177,000 $13,541 6.89%

    The Money House lent most frequently to those with incomes in the $50k or less range, with 657 originations. The second most popular income band? $50k-75k, with 210 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 179 $26,505,000 $148,073 $7,799 6.60%
    20-30% 169 $24,605,000 $145,592 $7,754 6.61%
    36% 62 $11,960,000 $192,903 $6,786 6.65%
    49% 57 $9,485,000 $166,404 $9,820 6.70%
    48% 55 $7,985,000 $145,182 $8,811 6.68%
    44% 54 $8,300,000 $153,704 $8,011 6.59%
    40% 53 $8,555,000 $161,415 $9,622 6.64%
    43% 51 $6,285,000 $123,235 $7,803 6.75%
    41% 48 $6,280,000 $130,833 $8,025 6.83%
    37% 48 $7,040,000 $146,667 $6,735 6.61%
    39% 46 $8,240,000 $179,130 $7,892 6.59%
    46% 42 $6,840,000 $162,857 $7,243 6.73%
    42% 42 $6,240,000 $148,571 $7,360 6.77%
    38% 40 $5,900,000 $147,500 $9,191 6.63%
    47% 38 $4,940,000 $130,000 $8,331 6.70%
    50-60% 38 $6,010,000 $158,158 $9,963 6.60%
    45% 37 $5,925,000 $160,135 $7,578 6.57%
    <20% 25 $3,065,000 $122,600 $7,305 6.51%
    >60% 1 $115,000 $115,000 $9,669 6.75%

    The Money House lent most frequently to those with DTI ratios of 30-36%, with 179 originations. The next most common DTI ratio? 20-30%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 993 $151,555,000 $152,623 $8,028 6.64%
    Not provided 56 $7,350,000 $131,250 $7,192 6.70%
    Black 33 $4,805,000 $145,606 $9,418 6.47%
    Asian 2 $310,000 $155,000 $17,736 6.50%
    American Indian 1 $255,000 $255,000 $11,284 8.63%

    Approval Rates

    Total approvals of all applications
    93.52%

    The Money House has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.15%

    The Money House has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,085 $164,275,000 $151,406

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,085 $164,275,000 $151,406

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $6,145,000 $77,785 $11,740 6.59%
    40-60% 160 $13,970,000 $87,313 $7,939 6.72%
    60-80% 260 $27,040,000 $104,000 $7,145 6.71%
    80-100% 250 $37,040,000 $148,160 $8,614 6.61%
    Over 100% 323 $79,315,000 $245,557 $7,317 6.59%
    Under 20% 13 $765,000 $58,846 $13,138 6.80%