Cooperativa De Ahorro Y Credito De Lares Mortgage Rates, Fees & Info
Lares,LEI: 549300UVFLI1W4O27J10
Tax ID: 66-0206444
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Cooperativa De Ahorro Y Credito De Lares is a smaller mortgage company specializing in Home Purchase loans. Cooperativa De Ahorro Y Credito De Lares has a high proportion of conventional loans. Their top markets by origination volume include: Aguadilla, Arecibo, San Juan, MayagÜez, and Ponce among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Cooperativa De Ahorro Y Credito De Lares 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 De Lares is typically a low 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.27% | 12/5/24 |
30 Year Cash-out Refi | 6.27% | 12/5/24 |
30 Year FHA Purchase | 6.27% | 12/5/24 |
30 Year USDA Purchase | 6.27% | 12/5/24 |
15 Year Conventional Purchase | 5.68% | 12/5/24 |
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 De Lares Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Cooperativa De Ahorro Y Credito De Lares. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
47Origination Dollar Volume (All Markets)
$3,385,000COOPERATIVA DE AHORRO Y CREDITO DE LARES - 2023
COOPERATIVA DE AHORRO Y CREDITO DE LARES is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for COOPERATIVA DE AHORRO Y CREDITO DE LARES?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Cooperativa De Ahorro Y Credito De Lares's average 30 year fixed mortgage rate was
6.4%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.08%.
Relative Fees (Closing Costs)
Cooperativa De Ahorro Y Credito De Lares's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,189.
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 |
---|---|---|---|---|---|
AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 33 | $2,225,000 | $67,424 | $4,056 | 6.39% |
Arecibo, PR (FHA|USDA|VA) | 6 | $400,000 | $66,667 | $4,147 | 6.49% |
SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $4,993 | 6.66% |
MAYAGÜEZ, PR (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $6,160 | 6.70% |
PONCE, PR (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $3,805 | 5.95% |
Jayuya, PR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,460 | 6.74% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against COOPERATIVA DE AHORRO Y CREDITO DE LARES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 25
Similarity Rank: 36
Similarity Rank: 40
Similarity Rank: 55
Similarity Rank: 55
Similarity Rank: 90
Similarity Rank: 286
Similarity Rank: 368
Similarity Rank: 3199
Similarity Rank: 8694
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 47 | $3,385,000 | $72,021 | $4,218 | 6.42% |
For 2023, Cooperativa De Ahorro Y Credito De Lares's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Home Purchase | 41 | $2,935,000 | $71,585 | $4,106 | 6.32% |
Cash Out Refi | 6 | $450,000 | $75,000 | $4,965 | 7.16% |
For 2023, Cooperativa De Ahorro Y Credito De Lares's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 41 | $2,965,000 | $72,317 | $4,189 | 6.40% |
15 Year | 6 | $420,000 | $70,000 | $4,409 | 6.58% |
For 2023, Cooperativa De Ahorro Y Credito De Lares's most frequently cited loan duration was 30 Year, with 41 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$1k-2k | 22 | $1,130,000 | $51,364 |
$2k-3k | 17 | $1,475,000 | $86,765 |
$3k-4k | 5 | $675,000 | $135,000 |
$<1k | 2 | $50,000 | $25,000 |
Cooperativa De Ahorro Y Credito De Lares's average total fees were $4,189, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 22 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 21 | $1,395,000 | $66,429 |
6-7% | 20 | $1,530,000 | $76,500 |
7-8% | 5 | $415,000 | $83,000 |
Over 8% | 1 | $45,000 | $45,000 |
During 2023, Cooperativa De Ahorro Y Credito De Lares's average interest rate for loans was 6.40%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100,000 or less | 39 | $2,395,000 | $61,410 | $3,890 | 6.41% |
$100k-200k | 8 | $990,000 | $123,750 | $5,775 | 6.50% |
2023 saw Cooperativa De Ahorro Y Credito De Lares place emphasis on $100,000 or less loans with 39 originations, totaling $2,395,000 in origination value.
Applicant Income
Cooperativa De Ahorro Y Credito De Lares lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
Cooperativa De Ahorro Y Credito De Lares lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 47 | $3,385,000 | $72,021 | $4,218 | 6.42% |
Approval Rates
Total approvals of all applications96.72%
Cooperativa De Ahorro Y Credito De Lares has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.47%
Cooperativa De Ahorro Y Credito De Lares has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 47 | $3,385,000 | $72,021 |