San Rafael Coop Mortgage Rates, Fees & Info
Quebradillas,LEI: 549300WBMOZ68L65GY91
Tax ID: 66-0224450
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Mortgage Data
Review & Overview
San Rafael Coop is a smaller mortgage company specializing in Home Purchase and Refi loans. San Rafael Coop has a high proportion of conventional loans. Their top markets by origination volume include: Arecibo, San GermÁn, San Juan, Aguadilla, and Yauco among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)San Rafael Coop has an above average approval rate when compared to the average across all lenders. San Rafael Coop 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 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. | ||
San Rafael Coop Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
29Origination Dollar Volume (All Markets)
$2,085,000Top 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 |
|---|---|---|---|---|---|
| Arecibo, PR (FHA|USDA|VA) | 10 | $560,000 | $56,000 | $3,156 | 4.80% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 7 | $515,000 | $73,571 | $4,569 | 4.86% |
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 4 | $350,000 | $87,500 | $4,455 | 5.13% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 4 | $300,000 | $75,000 | $3,991 | 4.69% |
| YAUCO, PR (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $5,582 | 4.75% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,081 | 4.75% |
| PONCE, PR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,676 | 4.75% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $2,085,000 | $71,897 | $4,098 | 4.84% |
For 2021, San Rafael Coop's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 19 | $1,265,000 | $66,579 | $3,909 | 4.78% |
| Refi | 6 | $470,000 | $78,333 | $4,457 | 4.83% |
| Cash Out Refi | 4 | $350,000 | $87,500 | $4,497 | 5.13% |
For 2021, San Rafael Coop's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2021, San Rafael Coop's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
San Rafael Coop's average total fees were $4,233, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 26 | $1,840,000 | $70,769 |
| 5-6% | 3 | $245,000 | $81,667 |
During 2021, San Rafael Coop's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 26 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 25 | $1,555,000 | $62,200 | $3,772 | 4.81% |
| $100k-200k | 4 | $530,000 | $132,500 | $5,972 | 5.00% |
2021 saw San Rafael Coop place emphasis on $100,000 or less loans with 25 originations, totaling $1,555,000 in origination value.
Applicant Income
San Rafael Coop lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
San Rafael Coop lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $2,085,000 | $71,897 | $4,098 | 4.84% |
Approval Rates
Total approvals of all applications97.78%
San Rafael Coop 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 | 29 | $2,085,000 | $71,897 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Summerfield Mortgage, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |