San Juan USDA Loan Rates, Closing Costs & Stats

SAN JUAN-BAYAMÓN-CAGUAS, PR

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    • 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 Juan's 27 lenders originated 1,072 USDA loans during 2023. The total origination value was $135,820,000, with an average USDA loan value of $126,698.

    San Juan USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in San Juan averaged 6.56% for the week of 2024-04-26, compared to the national average (all USDA variants) of 6.838% for the same period.

    San Juan's average USDA mortgage closing costs are $6,371.

    The average rate for the prior week (2024-04-19) was 6.78% and one month ago for the week of 2024-03-22, the average rate was 6.47%.

    The average rate one year ago was 6.2%.

    For refis of the same type during the week of 2024-04-26, the average rate was 6.44%.

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

    San Juan 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 Juan level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    HR MORTGAGE CORP. 229 6.44% $7,637
    FIRSTBANK PUERTO RICO 92 5.38% $8,391
    Banco Popular de Puerto Rico 75 5.31% $11,006
    HOME MORTGAGE BANKERS CORP. 74 6.85% $8,377
    PREFERRED MORTGAGE CORPORATION 68 6.42% $7,300
    THE MONEY HOUSE INC. 61 6.57% $7,464
    RM ACTUAL MORTGAGE, INC. 59 6.70% $5,973
    TRUST MORTGAGE, CORP 55 6.25% $7,669
    METRO ISLAND MORTGAGE, INC. 54 6.30% $8,845
    FIRST EQUITY MORTGAGE BANKERS, INC. 53 6.26% $8,385
    Oriental Bank 42 5.64% $7,913
    Cooperativa A/C Oriental 26 6.50% $6,284
    Rf Mortgage & Investment Corp 21 6.65% $8,922
    VIG MORTGAGE CORPORATION 20 6.88% $8,686
    COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA 19 6.76% $9,360
    The Lending Center Corporation 14 7.25% $7,538
    SUN WEST MORTGAGE COMPANY, INC. 14 6.34% $8,519
    E.M.I. EQUITY MORTGAGE, INC. 13 6.63% $5,787
    Capital Mortgage Services Corp. 10 7.10% $7,449
    CROSSCOUNTRY MORTGAGE, LLC 4 6.52% $13,582
    Senior Mortgage Bankers Inc 4 6.38% $10,366
    COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS 2 5.88% $7,648
    MULTIPLES MORTGAGE CORPORATION 2 7.00% $8,070
    COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA 1 7.50% $9,263
    COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS 1 5.25% $4,594
    Cooperativa de Ahorro y Credito Aguas Buenas 1 7.25% $7,514
    COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. 1 6.50% $10,400

    The top San Juan USDA lender as defined by loan originations is HR MORTGAGE CORP., with 229 USDA loans originated. Their average total fees are $7,637, which is $754 lower than the next largest lender, FIRSTBANK PUERTO RICO.

    The lowest fee San Juan USDA lenders (with over 10 loans originated) are E.M.I. EQUITY MORTGAGE, INC. ($5,787), RM ACTUAL MORTGAGE, INC. ($5,973), Cooperativa A/C Oriental ($6,284), PREFERRED MORTGAGE CORPORATION ($7,300) and Capital Mortgage Services Corp. ($7,449).

    The lowest rate San Juan USDA lenders (with over 10 loans originated) are Banco Popular de Puerto Rico (5.31%), FIRSTBANK PUERTO RICO (5.38%), Oriental Bank (5.64%), TRUST MORTGAGE, CORP (6.25%) and FIRST EQUITY MORTGAGE BANKERS, INC. (6.26%).