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 and Refi 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, Orlando, San GermÁn, and Miami among others. We have data for 22 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 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.

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    Originations

    610

    Origination Dollar Volume (All Markets)

    $79,600,000
    Show all (7) 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) 300 $40,850,000 $136,167 $5,205 3.61%
    PONCE, PR (FHA|USDA|VA) 117 $11,945,000 $102,094 $3,988 3.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 28 $5,900,000 $210,714 $6,576 2.72%
    SAN GERMÁN, PR (FHA|USDA|VA) 37 $4,285,000 $115,811 $4,700 3.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,945,000 $420,714 $10,397 2.71%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 21 $2,565,000 $122,143 $4,259 3.57%
    YAUCO, PR (FHA|USDA|VA) 24 $2,280,000 $95,000 $3,829 3.57%
    MAYAGÜEZ, PR (FHA|USDA|VA) 21 $2,005,000 $95,476 $4,353 3.75%
    Coamo, PR (FHA|USDA|VA) 11 $1,365,000 $124,091 $4,407 3.68%
    Santa Isabel, PR (FHA|USDA|VA) 10 $1,170,000 $117,000 $4,636 3.88%
    GUAYAMA, PR (FHA|USDA|VA) 9 $885,000 $98,333 $3,701 3.67%
    Arecibo, PR (FHA|USDA|VA) 7 $785,000 $112,143 $6,127 3.75%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $700,000 $175,000 $4,766 2.78%
    Jayuya, PR (FHA|USDA|VA) 4 $410,000 $102,500 $4,617 3.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $310,000 $155,000 $4,092 3.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $235,000 $235,000 $8,475 3.00%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $215,000 $215,000 $3,356 3.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $7,517 4.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $165,000 $165,000 $8,376 3.13%
    Coco, PR (FHA|USDA|VA) 2 $150,000 $75,000 $2,814 3.63%
    OCALA, FL (FHA|USDA|VA) 1 $125,000 $125,000 $6,716 2.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $105,000 $105,000 $5,725 2.75%
    The Money House's top markets include San Juan, Ponce, Orlando, San GermÁn, and Miami 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 DE AGUADA
    Similarity Rank: 14
    COOPERATIVA DE AHORRO Y CREDITO DE CAMUY
    Similarity Rank: 30
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC.
    Similarity Rank: 42
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 52
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 69
    BANCO SANTANDER PUERTO RICO
    Similarity Rank: 90
    CARIBE FEDERAL CREDIT UNION
    Similarity Rank: 96
    Cooperativa de Ahorro y Credito de Rincon
    Similarity Rank: 96
    The Lending Center Corporation
    Similarity Rank: 132
    LATIN AMERICAN FINANCIAL CORPORATION
    Similarity Rank: 145

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 413 $50,135,000 $121,392 $4,903 3.58%
    USDA 80 $8,910,000 $111,375 $4,151 3.54%
    Conventional 62 $10,780,000 $173,871 $5,955 3.71%
    VA 50 $9,220,000 $184,400 $4,733 3.47%
    FHA 4 $440,000 $110,000 $0 2.17%
    Reverse Mortgage 1 $115,000 $115,000 $0 3.00%

    For 2020, The Money House's most frequently originated type of loan was FHA, with 413 originations. Their 2nd most popular type was USDA, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 396 $55,130,000 $139,217 $5,724 3.57%
    Refi 203 $22,715,000 $111,897 $3,192 3.60%
    Home Improvement 6 $1,290,000 $215,000 $8,231 3.13%
    Cash Out Refi 5 $465,000 $93,000 $3,870 2.94%

    For 2020, The Money House's most frequently cited loan purpose was Home Purchase, with 396 originations. The 2nd most popular reason was Refi, with 203 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 470 $63,300,000 $134,681 $5,425 3.59%
    Other 116 $13,030,000 $112,328 $2,806 3.59%
    20 Year 13 $1,595,000 $122,692 $4,005 3.29%
    15 Year 10 $1,530,000 $153,000 $4,648 2.95%
    10 Year 1 $145,000 $145,000 $2,966 2.50%

    For 2020, The Money House's most frequently cited loan duration was 30 Year, with 470 originations. The 2nd most popular length was Other, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 411 $48,845,000 $118,844
    $1k-2k 101 $13,845,000 $137,079
    $2k-3k 46 $6,230,000 $135,435
    $3k-4k 26 $4,490,000 $172,692
    $5k+ 13 $3,945,000 $303,462
    $4k-5k 7 $1,615,000 $230,714

    The Money House's average total fees were $5,425, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 411 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 476 $57,610,000 $121,029
    2.5-3% 60 $12,230,000 $203,833
    4-5% 44 $4,470,000 $101,591
    <2.5% 20 $4,240,000 $212,000
    5-6% 3 $225,000 $75,000
    6-7% 2 $280,000 $140,000

    During 2020, The Money House's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 476 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 284 $37,560,000 $132,254 $5,055 3.55%
    $100,000 or less 240 $18,490,000 $77,042 $3,418 3.72%
    $200k-400k 79 $20,115,000 $254,620 $8,345 3.28%
    $400k-600k 7 $3,435,000 $490,714 $9,932 3.05%

    2020 saw The Money House place emphasis on $100k-200k loans with 284 originations, totaling $37,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 429 $45,325,000 $105,653 $4,146 3.61%
    $50k-75k 82 $13,130,000 $160,122 $5,973 3.54%
    $75k-100k 44 $7,830,000 $177,955 $6,659 3.49%
    $100k-150k 32 $6,670,000 $208,438 $7,312 3.30%
    $150k-250k 15 $4,255,000 $283,667 $7,156 3.71%
    $250k+ 7 $2,255,000 $322,143 $11,221 3.63%

    The Money House lent most frequently to those with incomes in the $50k or less range, with 429 originations. The second most popular income band? $50k-75k, with 82 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $10,905,000 $122,528 $5,034 3.58%
    30-36% 82 $10,760,000 $131,220 $5,122 3.58%
    <20% 33 $4,195,000 $127,121 $4,790 3.54%
    44% 28 $3,580,000 $127,857 $5,883 3.66%
    50-60% 27 $4,275,000 $158,333 $7,349 3.51%
    40% 21 $2,795,000 $133,095 $5,068 3.64%
    36% 20 $2,790,000 $139,500 $7,041 3.65%
    43% 18 $2,180,000 $121,111 $5,406 3.65%
    41% 18 $2,350,000 $130,556 $6,501 3.57%
    39% 17 $3,035,000 $178,529 $5,730 3.58%
    47% 16 $2,470,000 $154,375 $6,002 3.53%
    42% 15 $2,865,000 $191,000 $5,980 3.37%
    48% 15 $2,155,000 $143,667 $6,088 3.53%
    38% 14 $1,870,000 $133,571 $4,875 3.41%
    49% 14 $1,760,000 $125,714 $5,226 3.61%
    46% 11 $1,555,000 $141,364 $4,978 3.60%
    37% 10 $980,000 $98,000 $4,652 3.43%
    45% 10 $1,530,000 $153,000 $7,101 3.50%
    >60% 3 $715,000 $238,333 $7,352 3.08%

    The Money House lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 82 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 574 $74,250,000 $129,355 $4,910 3.58%
    Not provided 17 $2,755,000 $162,059 $4,567 3.24%
    Black 16 $2,010,000 $125,625 $4,634 3.66%
    American Indian 3 $585,000 $195,000 $5,582 3.50%

    Approval Rates

    Total approvals of all applications
    93.30%

    The Money House has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.62%

    The Money House has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 610 $79,600,000 $130,492

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 610 $79,600,000 $130,492

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $175,000 $58,333 $4,376 3.31%
    40-60% 19 $1,615,000 $85,000 $4,947 3.43%
    60-80% 70 $8,990,000 $128,429 $4,523 3.59%
    80-100% 493 $64,905,000 $131,653 $4,922 3.57%
    Over 100% 24 $3,710,000 $154,583 $5,350 3.77%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    THE MONEY HOUSE, INC. Conventional home mortgage Closing on a mortgage 1 16.7%
    THE MONEY HOUSE, INC. VA mortgage Closing on a mortgage 5 83.3%