Banco Popular De Puerto Rico Mortgage Rates, Fees & Info

San Juan,

LEI: OJH4M4RQMT1WXN2BNC32

Tax ID: 66-0561870

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

    Banco Popular De Puerto Rico is a smaller mortgage company specializing in Home Purchase loans. Banco Popular De Puerto Rico has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA 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.)

    Banco Popular De 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. Banco Popular De 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.04% 4/28/24
    30 Year Conventional Refi 7.03% 4/28/24
    30 Year Cash-out Refi 6.93% 4/28/24
    30 Year FHA Purchase 6.80% 4/28/24
    30 Year FHA Refi 6.77% 4/28/24
    30 Year VA Purchase 6.01% 4/28/24
    30 Year VA Refi 5.93% 4/28/24
    30 Year USDA Purchase 6.28% 4/28/24
    30 Year USDA Refi 6.53% 4/28/24
    15 Year Conventional Purchase 6.33% 4/28/24
    15 Year Conventional Refi 6.35% 4/28/24
    15 Year Cash-out Refi 6.35% 4/28/24
    15 Year FHA Purchase 6.81% 4/28/24
    15 Year FHA Refi 6.99% 4/28/24
    15 Year VA Purchase 6.89% 4/28/24
    15 Year VA Refi 6.20% 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.

    Banco Popular De Puerto Rico Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Banco Popular De 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

    2,334

    Origination Dollar Volume (All Markets)

    $522,090,000
    Show all (13) 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) 1,662 $431,200,000 $259,446 $8,391 5.10%
    AGUADILLA-ISABELA, PR (FHA|USDA|VA) 189 $27,225,000 $144,048 $6,701 4.83%
    SAN GERMÁN, PR (FHA|USDA|VA) 141 $19,065,000 $135,213 $7,199 4.87%
    PONCE, PR (FHA|USDA|VA) 109 $16,925,000 $155,275 $5,879 5.12%
    MAYAGÜEZ, PR (FHA|USDA|VA) 57 $8,745,000 $153,421 $6,347 5.20%
    Arecibo, PR (FHA|USDA|VA) 72 $8,300,000 $115,278 $6,029 5.12%
    YAUCO, PR (FHA|USDA|VA) 25 $2,575,000 $103,000 $5,436 4.99%
    GUAYAMA, PR (FHA|USDA|VA) 23 $2,155,000 $93,696 $4,487 5.70%
    Coamo, PR (FHA|USDA|VA) 17 $2,005,000 $117,941 $5,364 5.15%
    Santa Isabel, PR (FHA|USDA|VA) 19 $1,955,000 $102,895 $5,501 5.49%
    Coco, PR (FHA|USDA|VA) 11 $905,000 $82,273 $4,776 4.76%
    Outside of Metro Areas 5 $635,000 $127,000 $6,783 5.50%
    Jayuya, PR (FHA|USDA|VA) 4 $400,000 $100,000 $5,195 3.69%
    Banco Popular De Puerto Rico's top markets include San Juan, Aguadilla, San GermÁn, Ponce, and MayagÜez among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Banco Popular de 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
    COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA
    Similarity Rank: 111

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,674 $417,630,000 $249,480 $7,317 5.32%
    FHA 368 $58,670,000 $159,429 $9,697 4.50%
    USDA 188 $25,220,000 $134,149 $7,520 4.34%
    VA 104 $20,570,000 $197,788 $9,479 4.52%

    For 2022, Banco Popular De Puerto Rico's most frequently originated type of loan was Conventional, with 1,674 originations. Their 2nd most popular type was FHA, with 368 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,746 $349,710,000 $200,292 $7,762 5.25%
    Cash Out Refi 419 $92,585,000 $220,967 $7,630 4.46%
    Refi 89 $28,285,000 $317,809 $7,580 4.05%
    Other 47 $35,485,000 $755,000 $11,397 5.39%
    Home Improvement 33 $16,025,000 $485,606 $7,581 5.82%

    For 2022, Banco Popular De Puerto Rico's most frequently cited loan purpose was Home Purchase, with 1,746 originations. The 2nd most popular reason was Cash Out Refi, with 419 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,831 $421,515,000 $230,210 $7,977 5.26%
    15 Year 351 $70,675,000 $201,353 $7,843 4.10%
    Other 47 $5,895,000 $125,426 $4,089 4.23%
    20 Year 44 $11,310,000 $257,045 $5,392 5.78%
    10 Year 42 $4,940,000 $117,619 $5,228 4.76%
    30+ year 19 $7,755,000 $408,158 $7,993 6.44%

    For 2022, Banco Popular De Puerto Rico's most frequently cited loan duration was 30 Year, with 1,831 originations. The 2nd most popular length was 15 Year, with 351 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 476 $49,460,000 $103,908
    $5k+ 473 $155,365,000 $328,467
    $3k-4k 446 $58,570,000 $131,323
    $<1k 355 $160,925,000 $453,310
    $1k-2k 323 $36,365,000 $112,585
    $4k-5k 244 $39,310,000 $161,107

    Banco Popular De Puerto Rico's average total fees were $7,977, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 476 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 621 $186,875,000 $300,926
    4-5% 546 $131,240,000 $240,366
    3-4% 420 $76,690,000 $182,595
    6-7% 358 $64,880,000 $181,229
    2.5-3% 132 $23,330,000 $176,742
    7-8% 123 $21,795,000 $177,195
    <2.5% 72 $12,130,000 $168,472
    Over 8% 62 $5,150,000 $83,065

    During 2022, Banco Popular De Puerto Rico's average interest rate for loans was 5.26%, while their most frequently originated rate bucket for loans was 5-6%, with 621 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,001 $137,835,000 $137,697 $6,493 4.83%
    $100,000 or less 716 $53,260,000 $74,385 $4,288 5.56%
    $200k-400k 402 $108,260,000 $269,303 $11,515 4.84%
    $400k-600k 90 $43,100,000 $478,889 $14,990 4.70%
    $600k-1MM 74 $54,740,000 $739,730 $16,578 5.10%
    $1MM+ 51 $124,895,000 $2,448,922 $31,362 5.46%

    2022 saw Banco Popular De Puerto Rico place emphasis on $100k-200k loans with 1,001 originations, totaling $137,835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 794 $78,430,000 $98,778 $5,296 5.18%
    $50k-75k 404 $57,000,000 $141,089 $6,882 4.94%
    $100k-150k 316 $63,380,000 $200,570 $9,032 4.92%
    $75k-100k 258 $43,820,000 $169,845 $8,060 5.00%
    $150k-250k 232 $66,570,000 $286,940 $9,999 5.17%
    $250k+ 188 $154,330,000 $820,904 $13,955 5.21%

    Banco Popular De Puerto Rico lent most frequently to those with incomes in the $50k or less range, with 794 originations. The second most popular income band? $50k-75k, with 404 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 543 $111,135,000 $204,669 $7,493 4.90%
    30-36% 418 $87,260,000 $208,756 $7,438 5.06%
    <20% 234 $69,620,000 $297,521 $9,187 4.71%
    36% 105 $21,865,000 $208,238 $7,931 5.18%
    38% 97 $17,335,000 $178,711 $6,665 5.26%
    42% 95 $32,485,000 $341,947 $9,797 5.29%
    37% 91 $19,395,000 $213,132 $7,593 5.07%
    39% 85 $16,955,000 $199,471 $7,635 5.11%
    41% 83 $13,495,000 $162,590 $7,064 5.36%
    47% 80 $14,100,000 $176,250 $8,007 5.59%
    44% 80 $17,660,000 $220,750 $8,416 5.14%
    40% 67 $16,905,000 $252,313 $7,109 4.99%
    43% 63 $10,495,000 $166,587 $6,763 5.10%
    49% 56 $9,480,000 $169,286 $7,577 5.36%
    46% 55 $11,635,000 $211,545 $7,621 5.43%
    45% 54 $9,650,000 $178,704 $7,352 5.28%
    50-60% 54 $9,980,000 $184,815 $10,212 4.87%
    48% 51 $9,955,000 $195,196 $7,450 5.31%
    >60% 2 $250,000 $125,000 $5,102 4.63%

    Banco Popular De Puerto Rico lent most frequently to those with DTI ratios of 20-30%, with 543 originations. The next most common DTI ratio? 30-36%, with 418 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,901 $427,125,000 $224,684 $7,838 5.04%
    Not provided 251 $48,275,000 $192,331 $8,579 5.21%
    Not applicable 14 $21,800,000 $1,557,143 $0 6.28%
    Black 160 $19,970,000 $124,813 $6,047 5.17%
    Asian 5 $4,405,000 $881,000 $11,804 4.88%
    Chinese 1 $195,000 $195,000 $7,358 4.88%
    American Indian 1 $175,000 $175,000 $11,543 2.75%
    Other Pacific Islander 1 $145,000 $145,000 $8,854 4.75%

    Approval Rates

    Total approvals of all applications
    86.77%

    Banco Popular De Puerto Rico has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.71%

    Banco Popular De Puerto Rico has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,334 $522,090,000 $223,689

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,334 $522,090,000 $223,689

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 62 $36,860,000 $594,516 $11,471 5.66%
    40-60% 233 $73,225,000 $314,270 $8,741 5.27%
    60-80% 829 $193,875,000 $233,866 $7,154 5.20%
    80-100% 1,188 $211,670,000 $178,173 $7,837 4.91%
    Over 100% 12 $2,740,000 $228,333 $14,037 4.83%
    Under 20% 10 $3,720,000 $372,000 $7,371 6.59%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANCO POPULAR DE PUERTO RICO VA mortgage Trouble during payment process 1 100.0%