San GermÁn USDA Loan Rates, Closing Costs & Stats
SAN GERMÁN, 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.
San GermÁn's 11 lenders originated 60 USDA loans during 2023. The total origination value was $7,860,000, with an average USDA loan value of $131,000.
San GermÁn USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in San GermÁn
averaged
6.63%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
San GermÁn's average USDA mortgage closing costs are $5,522.
The average rate for the prior week (2024-04-12) was
6.28% and
one month ago for the week of 2024-03-15, the
average rate was 6.06%.
The average rate one year ago was 6%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
San GermÁn 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 San GermÁn level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Banco Popular de Puerto Rico | 27 | 5.26% | $9,361 |
| THE MONEY HOUSE INC. | 8 | 6.38% | $5,610 |
| FIRSTBANK PUERTO RICO | 7 | 5.93% | $4,122 |
| Oriental Bank | 6 | 5.88% | $5,031 |
| SUN WEST MORTGAGE COMPANY, INC. | 4 | 5.94% | $7,674 |
| METRO ISLAND MORTGAGE, INC. | 2 | 6.50% | $7,985 |
| E.M.I. EQUITY MORTGAGE, INC. | 2 | 6.75% | $5,229 |
| RM ACTUAL MORTGAGE, INC. | 1 | 6.75% | $5,800 |
| COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. | 1 | 7.50% | $7,347 |
| Capital Mortgage Services Corp. | 1 | 7.75% | $4,985 |
| VIG MORTGAGE CORPORATION | 1 | 6.75% | $6,946 |
The top San GermÁn USDA lender as defined by loan originations is Banco Popular de Puerto Rico, with
27 USDA loans originated. Their average total fees are
$9,361, which is $3,752
higher than the next largest lender,
THE MONEY HOUSE INC..
The lowest fee San GermÁn USDA lenders (with over 10 loans originated) are
Banco Popular de Puerto Rico ($9,361), .
The lowest rate San GermÁn USDA lenders (with over 10 loans originated) are
Banco Popular de Puerto Rico (5.26%), .