Arecibo USDA Loan Rates, Closing Costs & Stats

Arecibo, PR

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Arecibo's 15 lenders originated 54 USDA loans during 2023. The total origination value was $7,070,000, with an average USDA loan value of $130,926.

Arecibo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Arecibo averaged 5.82% for the week of 2024-12-06, compared to the national average (all USDA variants) of 6.328% for the same period.

Arecibo's average USDA mortgage closing costs are $5,620.

The average rate for the prior week (2024-11-29) was 6.19% and one month ago for the week of 2024-11-01, the average rate was 6.24%.

The average rate one year ago was 6.46%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.43%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Arecibo USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Arecibo level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRSTBANK PUERTO RICO 12 5.60% $7,979
HR MORTGAGE CORP. 8 6.44% $7,493
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA 5 6.85% $10,160
SUN WEST MORTGAGE COMPANY, INC. 4 6.38% $7,451
TRUST MORTGAGE, CORP 4 6.31% $7,564
METRO ISLAND MORTGAGE, INC. 4 6.06% $8,656
Oriental Bank 3 5.75% $5,973
PREFERRED MORTGAGE CORPORATION 2 6.50% $11,515
FIRST EQUITY MORTGAGE BANKERS, INC. 2 6.75% $6,431
Banco Popular de Puerto Rico 2 5.25% $13,079
Senior Mortgage Bankers Inc 1 5.75% $8,977
RM ACTUAL MORTGAGE, INC. 1 6.00% $7,291
The Lending Center Corporation 1 7.25% $4,996
THE MONEY HOUSE INC. 1 6.25% $9,879
Rf Mortgage & Investment Corp 1 5.75% $10,474

The top Arecibo USDA lender as defined by loan originations is FIRSTBANK PUERTO RICO, with 12 USDA loans originated. Their average total fees are $7,979, which is $486 higher than the next largest lender, HR MORTGAGE CORP..

The lowest fee Arecibo USDA lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO ($7,979), .

The lowest rate Arecibo USDA lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO (5.60%), .