Oriental Bank Mortgage Rates, Fees & Info
San Juan,LEI: 549300ZLPU75MU7O0T38
Tax ID: 66-0259436
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Mortgage Data
Review & Overview
Oriental Bank is a smaller bank specializing in Home Purchase loans. They have a a high proportion of FHA loans. Oriental Bank has a high proportion of conventional loans. Their top markets by origination volume include: San Juan, Ponce, Guayama, Aguadilla, and San GermÁn among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Oriental Bank 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. Oriental Bank 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 11/17/24 |
| 30 Year Conventional Refi | 6.41% | 11/17/24 |
| 30 Year Cash-out Refi | 6.62% | 11/17/24 |
| 30 Year FHA Purchase | 6.55% | 11/17/24 |
| 30 Year FHA Refi | 6.34% | 11/17/24 |
| 30 Year VA Purchase | 5.71% | 11/17/24 |
| 30 Year VA Refi | 5.67% | 11/17/24 |
| 30 Year USDA Purchase | 6.05% | 11/17/24 |
| 30 Year USDA Refi | 6.05% | 11/17/24 |
| 15 Year Conventional Purchase | 5.96% | 11/17/24 |
| 15 Year Conventional Refi | 5.59% | 11/17/24 |
| 15 Year Cash-out Refi | 5.59% | 11/17/24 |
| 15 Year FHA Purchase | 6.60% | 11/17/24 |
| 15 Year FHA Refi | 6.47% | 11/17/24 |
| 15 Year VA Purchase | 6.19% | 11/17/24 |
| 15 Year VA Refi | 5.68% | 11/17/24 |
| 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. | ||
Oriental Bank Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
898Origination Dollar Volume (All Markets)
$136,380,000Awards
Oriental Bank - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
Oriental Bank's average 30 year fixed mortgage rate was
5.97%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.51%.
Relative Fees (Closing Costs)
Oriental Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,977.
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 |
|---|---|---|---|---|---|
| SAN JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) | 625 | $100,425,000 | $160,680 | $8,291 | 5.95% |
| PONCE, PR (FHA|USDA|VA) | 64 | $8,210,000 | $128,281 | $7,185 | 5.93% |
| GUAYAMA, PR (FHA|USDA|VA) | 28 | $6,880,000 | $245,714 | $5,754 | 5.82% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 44 | $6,190,000 | $140,682 | $7,750 | 6.04% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 42 | $5,260,000 | $125,238 | $6,912 | 6.12% |
| Arecibo, PR (FHA|USDA|VA) | 36 | $4,280,000 | $118,889 | $7,592 | 6.07% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 20 | $1,790,000 | $89,500 | $5,369 | 5.94% |
| YAUCO, PR (FHA|USDA|VA) | 19 | $1,235,000 | $65,000 | $4,344 | 5.31% |
| Coamo, PR (FHA|USDA|VA) | 9 | $995,000 | $110,556 | $6,141 | 6.06% |
| Coco, PR (FHA|USDA|VA) | 9 | $845,000 | $93,889 | $5,493 | 5.94% |
| Santa Isabel, PR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $8,146 | 5.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Oriental Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 14
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Product Mix
For 2023, Oriental Bank's most frequently originated type of loan was FHA, with 439 originations. Their 2nd most popular type was Conventional, with 335 originations.
Loan Reason
For 2023, Oriental Bank's most frequently cited loan purpose was Home Purchase, with 783 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.
Loan Duration/Length
For 2023, Oriental Bank's most frequently cited loan duration was 30 Year, with 802 originations. The 2nd most popular length was 15 Year, with 51 originations.
Origination Fees/Closing Costs
Oriental Bank's average total fees were $7,977, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 191 originations.
Interest Rates
During 2023, Oriental Bank's average interest rate for loans was 5.97%, while their most frequently originated rate bucket for loans was 5-6%, with 541 originations.
Loan Sizing
2023 saw Oriental Bank place emphasis on $100,000 or less loans with 375 originations, totaling $26,855,000 in origination value.
Applicant Income
Oriental Bank lent most frequently to those with incomes in the $50k or less range, with 408 originations. The second most popular income band? $50k-75k, with 195 originations.
Applicant Debt to Income Ratio
Oriental Bank lent most frequently to those with DTI ratios of 30-36%, with 161 originations. The next most common DTI ratio? 20-30%, with 155 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.49%
Oriental Bank has a below average approval rate.
Pick Rate
Approvals leading to origination57.02%
Oriental Bank 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 | 898 | $136,380,000 | $151,871 |