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. Oriental Bank has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: San Juan, Aguadilla, San GermÁn, Ponce, and MayagÜez among others. We have data for 13 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 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 | 6.77% | 12/3/24 |
| 30 Year Conventional Refi | 6.41% | 12/3/24 |
| 30 Year Cash-out Refi | 6.62% | 12/3/24 |
| 30 Year FHA Purchase | 6.55% | 12/3/24 |
| 30 Year FHA Refi | 6.34% | 12/3/24 |
| 30 Year VA Purchase | 5.71% | 12/3/24 |
| 30 Year VA Refi | 5.67% | 12/3/24 |
| 30 Year USDA Purchase | 6.05% | 12/3/24 |
| 30 Year USDA Refi | 6.05% | 12/3/24 |
| 15 Year Conventional Purchase | 5.96% | 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 | 6.60% | 12/3/24 |
| 15 Year FHA Refi | 6.47% | 12/3/24 |
| 15 Year VA Purchase | 6.19% | 12/3/24 |
| 15 Year VA Refi | 5.68% | 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. | ||
Oriental Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,259Origination Dollar Volume (All Markets)
$191,525,000Awards
Oriental Bank - 2022
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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) | 919 | $151,315,000 | $164,652 | $7,335 | 4.58% |
| AGUADILLA-ISABELA, PR (FHA|USDA|VA) | 75 | $11,045,000 | $147,267 | $6,420 | 4.76% |
| SAN GERMÁN, PR (FHA|USDA|VA) | 51 | $6,375,000 | $125,000 | $5,741 | 4.38% |
| PONCE, PR (FHA|USDA|VA) | 56 | $6,320,000 | $112,857 | $5,668 | 4.66% |
| MAYAGÜEZ, PR (FHA|USDA|VA) | 39 | $3,965,000 | $101,667 | $5,429 | 4.37% |
| Arecibo, PR (FHA|USDA|VA) | 35 | $3,485,000 | $99,571 | $5,320 | 4.39% |
| YAUCO, PR (FHA|USDA|VA) | 26 | $2,650,000 | $101,923 | $4,871 | 4.56% |
| Coamo, PR (FHA|USDA|VA) | 16 | $2,270,000 | $141,875 | $6,121 | 4.13% |
| GUAYAMA, PR (FHA|USDA|VA) | 26 | $1,980,000 | $76,154 | $4,055 | 4.61% |
| Santa Isabel, PR (FHA|USDA|VA) | 6 | $1,060,000 | $176,667 | $7,152 | 4.21% |
| Coco, PR (FHA|USDA|VA) | 7 | $605,000 | $86,429 | $5,023 | 4.59% |
| Outside of Metro Areas | 2 | $350,000 | $175,000 | $7,317 | 4.50% |
| Jayuya, PR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,490 | 4.50% |
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.
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Product Mix
For 2022, Oriental Bank's most frequently originated type of loan was Conventional, with 563 originations. Their 2nd most popular type was FHA, with 481 originations.
Loan Reason
For 2022, Oriental Bank's most frequently cited loan purpose was Home Purchase, with 916 originations. The 2nd most popular reason was Refi, with 167 originations.
Loan Duration/Length
For 2022, Oriental Bank's most frequently cited loan duration was 30 Year, with 963 originations. The 2nd most popular length was 15 Year, with 198 originations.
Origination Fees/Closing Costs
Oriental Bank's average total fees were $6,967, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 307 originations.
Interest Rates
During 2022, Oriental Bank's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 423 originations.
Loan Sizing
2022 saw Oriental Bank place emphasis on $100k-200k loans with 588 originations, totaling $81,250,000 in origination value.
Applicant Income
Oriental Bank lent most frequently to those with incomes in the $50k or less range, with 598 originations. The second most popular income band? $50k-75k, with 272 originations.
Applicant Debt to Income Ratio
Oriental Bank lent most frequently to those with DTI ratios of 20-30%, with 261 originations. The next most common DTI ratio? 30-36%, with 239 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.68%
Oriental Bank has a below average approval rate.
Pick Rate
Approvals leading to origination52.26%
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 | 1,259 | $191,525,000 | $152,125 |