Oriental Bank Mortgage Rates, Fees & Info

San Juan,

LEI: 549300ZLPU75MU7O0T38

Tax ID: 66-0259436

5 stars - Updated: 3/28/24 - out of 5 stars, based on 30 reviews

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

Jump to:

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.

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 6.77% 3/28/24
30 Year Conventional Refi 6.41% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
30 Year FHA Purchase 6.55% 3/28/24
30 Year FHA Refi 6.34% 3/28/24
30 Year VA Purchase 5.71% 3/28/24
30 Year VA Refi 5.67% 3/28/24
30 Year USDA Purchase 6.05% 3/28/24
30 Year USDA Refi 6.05% 3/28/24
15 Year Conventional Purchase 5.96% 3/28/24
15 Year Conventional Refi 5.59% 3/28/24
15 Year Cash-out Refi 5.59% 3/28/24
15 Year FHA Purchase 6.60% 3/28/24
15 Year FHA Refi 6.47% 3/28/24
15 Year VA Purchase 6.19% 3/28/24
15 Year VA Refi 5.68% 3/28/24
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.

Oriental Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Oriental Bank. 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

898

Origination Dollar Volume (All Markets)

$136,380,000
Show all (11) awards

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%
Oriental Bank's top markets include San Juan, Ponce, Guayama, Aguadilla, and San GermÁn among others.

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

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 439 $57,625,000 $131,264 $8,380 5.70%
    Conventional 335 $59,255,000 $176,881 $6,999 6.38%
    USDA 76 $9,430,000 $124,079 $7,085 5.66%
    VA 48 $10,070,000 $209,792 $9,239 5.73%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 783 $121,655,000 $155,370 $7,892 5.95%
    Cash Out Refi 57 $8,315,000 $145,877 $7,868 6.00%
    Refi 34 $4,180,000 $122,941 $7,997 5.71%
    Other 20 $1,790,000 $89,500 $5,097 6.14%
    Home Improvement 4 $440,000 $110,000 $4,010 6.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 802 $120,670,000 $150,461 $7,977 5.97%
    15 Year 51 $6,685,000 $131,078 $6,939 5.87%
    20 Year 22 $2,110,000 $95,909 $4,975 5.80%
    10 Year 13 $1,295,000 $99,615 $5,383 5.89%
    Other 9 $5,535,000 $615,000 $6,612 4.61%
    5 Year 1 $85,000 $85,000 $0 8.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 191 $48,235,000 $252,539
    $2k-3k 187 $18,045,000 $96,497
    $1k-2k 173 $14,995,000 $86,676
    $3k-4k 140 $18,360,000 $131,143
    $<1k 93 $15,115,000 $162,527
    $4k-5k 92 $14,060,000 $152,826

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 541 $77,575,000 $143,392
    6-7% 223 $33,385,000 $149,709
    4-5% 66 $11,750,000 $178,030
    7-8% 45 $9,825,000 $218,333
    Over 8% 15 $3,135,000 $209,000
    3-4% 7 $605,000 $86,429
    <2.5% 1 $105,000 $105,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 375 $26,855,000 $71,613 $4,768 5.98%
    $100k-200k 345 $47,905,000 $138,855 $7,975 5.90%
    $200k-400k 148 $38,850,000 $262,500 $13,129 5.92%
    $400k-600k 19 $8,645,000 $455,000 $19,509 6.11%
    $600k-1MM 6 $4,600,000 $766,667 $16,054 7.13%
    $1MM+ 5 $9,525,000 $1,905,000 $15,070 6.47%

    2023 saw Oriental Bank place emphasis on $100,000 or less loans with 375 originations, totaling $26,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 408 $35,710,000 $87,525 $5,667 5.86%
    $50k-75k 195 $28,035,000 $143,769 $8,150 5.87%
    $75k-100k 119 $21,075,000 $177,101 $9,338 5.96%
    $100k-150k 93 $20,415,000 $219,516 $11,836 6.04%
    $150k-250k 52 $12,420,000 $238,846 $10,781 6.25%
    $250k+ 28 $13,860,000 $495,000 $12,630 6.76%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 161 $20,915,000 $129,907 $7,174 5.94%
    20-30% 155 $19,765,000 $127,516 $7,332 5.88%
    <20% 46 $6,950,000 $151,087 $7,454 5.97%
    37% 44 $5,940,000 $135,000 $7,088 6.00%
    40% 43 $6,615,000 $153,837 $7,398 5.94%
    50-60% 39 $7,965,000 $204,231 $11,100 5.66%
    47% 38 $4,860,000 $127,895 $6,683 6.13%
    43% 38 $5,160,000 $135,789 $6,799 5.99%
    38% 37 $4,705,000 $127,162 $7,014 6.02%
    49% 36 $6,440,000 $178,889 $9,253 5.99%
    45% 35 $5,785,000 $165,286 $9,000 5.96%
    39% 34 $5,290,000 $155,588 $10,164 5.73%
    42% 34 $7,130,000 $209,706 $9,366 6.20%
    48% 34 $5,770,000 $169,706 $8,383 6.01%
    46% 33 $5,935,000 $179,848 $7,352 5.95%
    44% 30 $4,520,000 $150,667 $8,915 5.91%
    36% 29 $3,765,000 $129,828 $6,824 5.95%
    41% 27 $3,715,000 $137,593 $7,461 5.82%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 853 $126,245,000 $148,001 $7,867 5.94%
    Not applicable 3 $4,865,000 $1,621,667 $0 7.57%
    Black 37 $4,215,000 $113,919 $6,638 5.89%
    Not provided 4 $850,000 $212,500 $6,153 7.53%
    Asian 1 $205,000 $205,000 $6,525 5.50%

    Approval Rates

    Total approvals of all applications
    78.49%

    Oriental Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.02%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    898 $136,380,000 $151,871

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,115,000 $74,333 $4,620 5.90%
    40-60% 111 $9,555,000 $86,081 $5,230 5.84%
    60-80% 327 $40,445,000 $123,685 $6,653 6.17%
    80-100% 442 $84,730,000 $191,697 $9,406 5.82%
    Over 100% 2 $330,000 $165,000 $12,282 6.00%
    Under 20% 1 $205,000 $205,000 $2,519 8.13%