Coamo USDA Loan Rates, Closing Costs & Stats

Coamo, 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.

Coamo's 11 lenders originated 20 USDA loans during 2023. The total origination value was $2,080,000, with an average USDA loan value of $104,000.

Coamo USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Coamo averaged -0.4% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Coamo's average USDA mortgage closing costs are $5,670.

The average rate for the prior week (2024-11-22) was 6.2% and one month ago for the week of 2024-10-25, the average rate was 6.3%.

The average rate one year ago was 7%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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

Coamo 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 Coamo level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST EQUITY MORTGAGE BANKERS, INC. 3 6.92% $6,656
HR MORTGAGE CORP. 3 6.58% $5,416
METRO ISLAND MORTGAGE, INC. 3 6.00% $8,094
FIRSTBANK PUERTO RICO 2 5.13% $9,766
RM ACTUAL MORTGAGE, INC. 2 6.63% $5,753
SUN WEST MORTGAGE COMPANY, INC. 2 6.50% $5,824
TRUST MORTGAGE, CORP 1 6.00% $7,462
E.M.I. EQUITY MORTGAGE, INC. 1 6.75% $10,132
Oriental Bank 1 6.00% $10,407
THE MONEY HOUSE INC. 1 7.00% $2,843
Banco Popular de Puerto Rico 1 8.25% $6,741

The top Coamo USDA lender as defined by loan originations is FIRST EQUITY MORTGAGE BANKERS, INC., with 3 USDA loans originated. Their average total fees are $6,656, which is $1,240 higher than the next largest lender, HR MORTGAGE CORP..

The lowest fee Coamo USDA lenders (with over 10 loans originated) are .

The lowest rate Coamo USDA lenders (with over 10 loans originated) are .