Firstbank Puerto Rico Mortgage Rates, Fees & Info

San Juan,

LEI: 549300WWJ28EP3GZG107

Tax ID: 66-0183103

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Firstbank Puerto Rico is a smaller bank specializing in Home Purchase loans. Firstbank Puerto Rico has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: San Juan, Miami, Aguadilla, Arecibo, and Ponce among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firstbank Puerto Rico 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. Firstbank Puerto Rico 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.30% 12/3/24
    30 Year Conventional Refi 6.23% 12/3/24
    30 Year Cash-out Refi 6.28% 12/3/24
    30 Year FHA Purchase 6.56% 12/3/24
    30 Year FHA Refi 6.41% 12/3/24
    30 Year VA Purchase 5.58% 12/3/24
    30 Year VA Refi 5.71% 12/3/24
    30 Year USDA Purchase 6.10% 12/3/24
    30 Year USDA Refi 5.69% 12/3/24
    15 Year Conventional Purchase 6.00% 12/3/24
    15 Year Conventional Refi 5.59% 12/3/24
    15 Year Cash-out Refi 5.59% 12/3/24
    15 Year FHA Purchase 6.87% 12/3/24
    15 Year FHA Refi 6.50% 12/3/24
    15 Year VA Purchase 6.28% 12/3/24
    15 Year VA Refi 5.51% 12/3/24
    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.

    Firstbank Puerto Rico Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Firstbank Puerto Rico. 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

    2,315

    Origination Dollar Volume (All Markets)

    $474,585,000
    Show all (20) 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) 1,513 $290,945,000 $192,297 $7,591 4.76%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 323 $108,995,000 $337,446 $5,578 5.05%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 184 $29,150,000 $158,424 $7,784 4.60%
    Arecibo, PR (FHA|USDA|VA) 69 $8,445,000 $122,391 $6,226 4.43%
    PONCE, PR (FHA|USDA|VA) 62 $8,340,000 $134,516 $6,711 4.70%
    SAN GERMÁN, PR (FHA|USDA|VA) 50 $7,640,000 $152,800 $6,739 4.82%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $5,760,000 $2,880,000 $0 4.35%
    MAYAGÜEZ, PR (FHA|USDA|VA) 35 $4,975,000 $142,143 $7,835 4.84%
    GUAYAMA, PR (FHA|USDA|VA) 23 $2,595,000 $112,826 $5,871 4.46%
    YAUCO, PR (FHA|USDA|VA) 14 $1,400,000 $100,000 $5,090 4.80%
    Coamo, PR (FHA|USDA|VA) 12 $1,300,000 $108,333 $5,791 3.80%
    Coco, PR (FHA|USDA|VA) 11 $1,235,000 $112,273 $6,443 4.59%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $1,110,000 $555,000 $7,972 5.25%
    Santa Isabel, PR (FHA|USDA|VA) 6 $870,000 $145,000 $8,489 5.17%
    Key West, FL (FHA|USDA|VA) 1 $695,000 $695,000 $7,753 4.13%
    Outside of Metro Areas 3 $265,000 $88,333 $3,244 4.38%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,996 3.25%
    OCALA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $8,374 7.00%
    Jayuya, PR (FHA|USDA|VA) 2 $200,000 $100,000 $2,824 5.63%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,703 3.88%
    Firstbank Puerto Rico's top markets include San Juan, Miami, Aguadilla, Arecibo, and Ponce among others.

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

    • Similar Lenders

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

    COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS
    Similarity Rank: 9
    COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS
    Similarity Rank: 18
    COOPERATIVA DE AHORRO Y CREDITO DE ISABELA
    Similarity Rank: 20
    COOPERATIVA DE AHORRO Y CREDITO DE LARES
    Similarity Rank: 35
    COOPERATIVA DE CREDITO LA SAGRADA FAMILIA
    Similarity Rank: 40
    Cooperativa de Ahorro y Credito Jesus Obrero
    Similarity Rank: 42
    COOPERATIVA DE AHORRO Y CREDITO DE CAMUY
    Similarity Rank: 45
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC.
    Similarity Rank: 46
    Cooperativa De Credito Y Ahorro San Jose
    Similarity Rank: 55
    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 94

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,558 $355,200,000 $227,985 $6,244 4.95%
    FHA 455 $73,895,000 $162,407 $9,668 4.45%
    USDA 194 $25,020,000 $128,969 $6,751 4.40%
    VA 108 $20,470,000 $189,537 $9,809 4.30%

    For 2022, Firstbank Puerto Rico's most frequently originated type of loan was Conventional, with 1,558 originations. Their 2nd most popular type was FHA, with 455 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,770 $370,960,000 $209,582 $7,248 4.95%
    Refi 253 $49,025,000 $193,775 $6,963 3.76%
    Cash Out Refi 203 $41,765,000 $205,739 $7,743 4.49%
    Other 51 $7,955,000 $155,980 $6,287 4.69%
    Home Improvement 38 $4,880,000 $128,421 $5,928 5.02%

    For 2022, Firstbank Puerto Rico's most frequently cited loan purpose was Home Purchase, with 1,770 originations. The 2nd most popular reason was Refi, with 253 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,939 $390,365,000 $201,323 $7,342 4.92%
    15 Year 253 $40,115,000 $158,557 $6,589 3.92%
    20 Year 58 $8,700,000 $150,000 $6,145 4.46%
    10 Year 34 $18,630,000 $547,941 $6,442 3.89%
    Other 26 $5,860,000 $225,385 $4,737 3.94%
    5 Year 4 $6,910,000 $1,727,500 $0 6.25%
    30+ year 1 $4,005,000 $4,005,000 $73,539 5.88%

    For 2022, Firstbank Puerto Rico's most frequently cited loan duration was 30 Year, with 1,939 originations. The 2nd most popular length was 15 Year, with 253 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 483 $98,815,000 $204,586
    $5k+ 401 $116,135,000 $289,613
    $2k-3k 352 $46,650,000 $132,528
    $3k-4k 338 $46,310,000 $137,012
    $<1k 315 $67,745,000 $215,063
    $4k-5k 207 $35,555,000 $171,763

    Firstbank Puerto Rico's average total fees were $7,342, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 483 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 793 $150,235,000 $189,451
    4-5% 782 $173,680,000 $222,097
    3-4% 294 $64,540,000 $219,524
    6-7% 223 $52,105,000 $233,655
    2.5-3% 120 $19,350,000 $161,250
    <2.5% 95 $13,765,000 $144,895
    7-8% 8 $910,000 $113,750

    During 2022, Firstbank Puerto Rico's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 5-6%, with 793 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,051 $148,335,000 $141,137 $6,471 4.69%
    $100,000 or less 604 $46,390,000 $76,805 $4,271 4.85%
    $200k-400k 461 $124,675,000 $270,445 $10,349 4.76%
    $400k-600k 109 $52,735,000 $483,807 $11,149 5.10%
    $600k-1MM 65 $47,965,000 $737,923 $12,812 4.86%
    $1MM+ 25 $54,485,000 $2,179,400 $19,944 5.32%

    2022 saw Firstbank Puerto Rico place emphasis on $100k-200k loans with 1,051 originations, totaling $148,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 664 $67,670,000 $101,913 $5,582 4.58%
    $50k-75k 497 $72,855,000 $146,590 $6,924 4.77%
    $75k-100k 344 $61,940,000 $180,058 $8,234 4.62%
    $100k-150k 312 $66,270,000 $212,404 $8,054 4.93%
    $150k-250k 225 $68,435,000 $304,156 $8,951 5.06%
    $250k+ 160 $85,110,000 $531,938 $9,841 5.15%

    Firstbank Puerto Rico lent most frequently to those with incomes in the $50k or less range, with 664 originations. The second most popular income band? $50k-75k, with 497 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 436 $80,250,000 $184,060 $7,100 4.71%
    30-36% 432 $82,040,000 $189,907 $7,089 4.84%
    42% 221 $41,075,000 $185,860 $6,428 5.00%
    <20% 162 $36,760,000 $226,914 $6,771 4.77%
    41% 133 $26,385,000 $198,383 $7,040 4.97%
    39% 124 $28,500,000 $229,839 $6,671 4.88%
    40% 121 $24,925,000 $205,992 $6,673 4.89%
    38% 105 $21,735,000 $207,000 $7,350 4.92%
    36% 105 $22,855,000 $217,667 $7,299 4.74%
    37% 91 $15,675,000 $172,253 $7,128 4.77%
    43% 63 $10,485,000 $166,429 $7,300 4.43%
    44% 57 $8,815,000 $154,649 $7,553 4.46%
    45% 56 $9,600,000 $171,429 $7,659 4.60%
    46% 44 $9,800,000 $222,727 $8,731 4.54%
    48% 44 $7,120,000 $161,818 $8,291 4.58%
    49% 39 $7,165,000 $183,718 $9,754 4.54%
    47% 30 $5,720,000 $190,667 $8,708 4.29%
    50-60% 24 $4,690,000 $195,417 $11,175 4.65%
    >60% 1 $4,005,000 $4,005,000 $73,539 5.88%

    Firstbank Puerto Rico lent most frequently to those with DTI ratios of 20-30%, with 436 originations. The next most common DTI ratio? 30-36%, with 432 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,129 $412,745,000 $193,868 $7,270 4.76%
    Not applicable 20 $32,920,000 $1,646,000 $29,749 5.17%
    Black 123 $17,415,000 $141,585 $6,382 4.87%
    Asian 15 $6,195,000 $413,000 $7,582 5.43%
    Not provided 25 $4,265,000 $170,600 $5,987 4.60%
    Asian Indian 1 $785,000 $785,000 $7,541 4.75%
    American Indian 2 $260,000 $130,000 $5,070 4.38%

    Approval Rates

    Total approvals of all applications
    80.50%

    Firstbank Puerto Rico has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.37%

    Firstbank Puerto Rico 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 2,315 $474,585,000 $205,004

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,315 $474,585,000 $205,004

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $15,745,000 $266,864 $7,482 4.59%
    40-60% 187 $50,135,000 $268,102 $6,829 4.81%
    60-80% 813 $168,665,000 $207,460 $6,251 4.90%
    80-100% 1,221 $231,965,000 $189,980 $7,698 4.72%
    Over 100% 17 $4,345,000 $255,588 $14,012 4.68%
    Under 20% 3 $1,925,000 $641,667 $5,499 5.57%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%