The Money House Mortgage Rates, Fees & Info

San Juan,

LEI: 549300TDRENNEZ2S6M03

Tax ID: 66-0545351

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

    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.) 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, Orlando, San GermÁn, and Aguadilla among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Money House 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. 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    356

    Origination Dollar Volume (All Markets)

    $41,280,000

    Awards

    THE MONEY HOUSE FHA Loans bronze THE MONEY HOUSE USDA Loans silver THE MONEY HOUSE VA Loans silver
    Show all (3) 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) 184 $22,650,000 $123,098 $6,334 5.11%
    PONCE, PR (FHA|USDA|VA) 63 $5,445,000 $86,429 $5,386 5.10%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 17 $3,545,000 $208,529 $8,072 4.99%
    SAN GERMÁN, PR (FHA|USDA|VA) 21 $1,905,000 $90,714 $5,169 5.03%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 11 $1,375,000 $125,000 $5,858 5.10%
    Coamo, PR (FHA|USDA|VA) 10 $1,120,000 $112,000 $6,297 5.10%
    YAUCO, PR (FHA|USDA|VA) 13 $1,115,000 $85,769 $4,402 5.19%
    MAYAGÜEZ, PR (FHA|USDA|VA) 7 $865,000 $123,571 $5,102 5.52%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 6 $830,000 $138,333 $6,103 4.92%
    GUAYAMA, PR (FHA|USDA|VA) 6 $610,000 $101,667 $9,682 5.17%
    Arecibo, PR (FHA|USDA|VA) 5 $445,000 $89,000 $5,564 5.05%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $7,191 4.75%
    Jayuya, PR (FHA|USDA|VA) 3 $275,000 $91,667 $5,646 5.08%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $210,000 $105,000 $5,446 5.56%
    Santa Isabel, PR (FHA|USDA|VA) 2 $200,000 $100,000 $5,079 5.13%
    Coco, PR (FHA|USDA|VA) 2 $170,000 $85,000 $4,063 5.00%
    OCALA, FL (FHA|USDA|VA) 1 $125,000 $125,000 $6,299 4.50%
    Outside of Metro Areas 2 $90,000 $45,000 $3,257 5.25%
    The Money House's top markets include San Juan, Ponce, Orlando, San GermÁn, and Aguadilla 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.

    COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS
    Similarity Rank: 12
    COOPERATIVA DE AHORRO Y CREDITO DE CAMUY
    Similarity Rank: 24
    Cooperativa A/C Oriental
    Similarity Rank: 48
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC.
    Similarity Rank: 54
    McCoy Federal Credit Union
    Similarity Rank: 60
    Cooperativa de Ahorro y Credito de Rincon
    Similarity Rank: 66
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 92
    Cooperativa A/C de Arecibo
    Similarity Rank: 108
    COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA
    Similarity Rank: 111

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 239 $26,215,000 $109,686 $6,327 5.08%
    Conventional 43 $6,385,000 $148,488 $5,939 5.85%
    USDA 42 $4,190,000 $99,762 $5,074 4.90%
    VA 26 $4,170,000 $160,385 $5,570 4.93%
    FHA 3 $145,000 $48,333 $0 2.75%
    FHA 3 $175,000 $58,333 $0 2.38%

    For 2018, The Money House's most frequently originated type of loan was FHA, with 239 originations. Their 2nd most popular type was Conventional, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 334 $39,380,000 $117,904 $6,010 5.13%
    Refi 18 $1,440,000 $80,000 $8,121 4.72%
    Cash Out Refi 4 $460,000 $115,000 $4,221 4.59%

    For 2018, The Money House's most frequently cited loan purpose was Home Purchase, with 334 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 342 $40,220,000 $117,602 $6,077 5.14%
    Other 7 $475,000 $67,857 $7,194 3.08%
    15 Year 5 $445,000 $89,000 $6,349 4.95%
    20 Year 2 $140,000 $70,000 $4,085 6.06%

    For 2018, The Money House's most frequently cited loan duration was 30 Year, with 342 originations. The 2nd most popular length was Other, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 164 $16,990,000 $103,598
    $2k-3k 65 $6,765,000 $104,077
    $1k-2k 63 $7,195,000 $114,206
    $3k-4k 33 $4,215,000 $127,727
    $4k-5k 15 $2,965,000 $197,667
    $5k+ 10 $2,830,000 $283,000

    The Money House's average total fees were $6,077, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 197 $24,325,000 $123,477
    5-6% 129 $13,615,000 $105,543
    6-7% 16 $1,810,000 $113,125
    3-4% 7 $935,000 $133,571
    2.5-3% 4 $210,000 $52,500
    <2.5% 1 $55,000 $55,000
    Over 8% 1 $275,000 $275,000

    During 2018, The Money House's average interest rate for loans was 5.14%, while their most frequently originated rate bucket for loans was 4-5%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 175 $12,665,000 $72,371 $4,876 5.13%
    $100k-200k 145 $19,405,000 $133,828 $6,365 5.09%
    $200k-400k 35 $8,575,000 $245,000 $10,127 4.99%
    $600k-1MM 1 $635,000 $635,000 $24,054 5.88%

    2018 saw The Money House place emphasis on $100,000 or less loans with 175 originations, totaling $12,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 225 $20,575,000 $91,444 $5,222 5.06%
    $50k-75k 69 $10,175,000 $147,464 $7,052 5.14%
    $75k-100k 26 $3,700,000 $142,308 $7,438 5.12%
    $100k-150k 20 $3,540,000 $177,000 $5,777 5.35%
    $150k-250k 13 $2,935,000 $225,769 $12,375 5.18%
    $250k+ 2 $310,000 $155,000 $10,969 5.75%

    The Money House lent most frequently to those with incomes in the $50k or less range, with 225 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 54 $5,500,000 $101,852 $5,076 5.16%
    20-30% 51 $5,665,000 $111,078 $6,179 5.17%
    50-60% 43 $6,315,000 $146,860 $7,384 5.01%
    41% 19 $2,095,000 $110,263 $5,899 5.22%
    42% 18 $2,010,000 $111,667 $7,064 5.10%
    49% 18 $2,330,000 $129,444 $7,614 4.92%
    44% 17 $1,935,000 $113,824 $6,040 5.21%
    <20% 15 $1,365,000 $91,000 $5,387 4.76%
    36% 15 $2,165,000 $144,333 $5,876 5.43%
    48% 14 $1,390,000 $99,286 $5,499 5.13%
    43% 14 $1,770,000 $126,429 $6,567 5.07%
    45% 14 $1,580,000 $112,857 $5,040 5.07%
    46% 13 $1,465,000 $112,692 $5,055 5.24%
    40% 12 $1,350,000 $112,500 $6,079 4.88%
    38% 10 $1,250,000 $125,000 $6,067 5.35%
    47% 9 $975,000 $108,333 $6,609 5.19%
    39% 8 $1,010,000 $126,250 $5,366 4.92%
    37% 8 $730,000 $91,250 $4,474 5.08%
    >60% 1 $75,000 $75,000 $3,473 4.75%

    The Money House lent most frequently to those with DTI ratios of 30-36%, with 54 originations. The next most common DTI ratio? 20-30%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 315 $36,215,000 $114,968 $6,046 5.11%
    Not provided 24 $3,150,000 $131,250 $6,820 4.87%
    Black 11 $1,185,000 $107,727 $6,015 5.07%
    American Indian 6 $730,000 $121,667 $4,819 5.56%

    Approval Rates

    Total approvals of all applications
    75.10%

    The Money House has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.13%

    The Money House 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 356 $41,280,000 $115,955

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 356 $41,280,000 $115,955

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $415,000 $59,286 $5,663 4.20%
    40-60% 13 $695,000 $53,462 $4,227 5.18%
    60-80% 33 $2,865,000 $86,818 $5,320 5.47%
    80-100% 267 $32,015,000 $119,906 $6,130 5.10%
    Over 100% 36 $5,290,000 $146,944 $6,897 4.97%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    THE MONEY HOUSE, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    THE MONEY HOUSE, INC. Reverse mortgage Struggling to pay mortgage 1 50.0%