Arecibo Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Arecibo averaged 7.2% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

The average rate for the prior week (2023-09-07) was 7.34% and one month ago for the week of 2023-08-10, the average rate was 7.08%.

Arecibo's average rate one year ago was 6.11%.

For refis of the same type during the week of 2023-09-14, the average rate was 7.78%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-14 7.18%
Arecibo 30 Year Fixed Rate 2023-09-14 7.2%
Arecibo 30 Year Fixed Rate Refi 2023-09-14 7.78%
Arecibo 15 Year Fixed Rate 2023-09-14 6.61%
Arecibo 15 Year Fixed Rate Refi 2023-09-14 6.91%
Arecibo 30 Year FHA 2023-09-14 6.9%
Arecibo 30 Year FHA Refi 2023-09-14 7.19%
Arecibo 30 Year USDA 2023-09-14 6.57%
Arecibo 30 Year USDA Refi 2023-09-14 6.98%
Arecibo 30 Year VA 2023-09-14 6.61%
Arecibo 30 Year VA Refi 2023-09-14 6.61%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Arecibo, PR.

Arecibo Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Arecibo, PR market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Banco Popular de Puerto Rico 37 5.53% $4,710
COOPERATIVA DE AHORRO Y CREDITO DE CAMUY 27 5.58% $4,716
Cooperativa A/C de Arecibo 17 4.00% $6,794
COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA 14 5.26% $6,643
FIRSTBANK PUERTO RICO 13 4.89% $4,629
PENTAGON FEDERAL CREDIT UNION 11 3.50% $5,279
COOPERATIVA DE AHORRO Y CREDITO DE LARES 6 5.17% $4,054
Capital Mortgage Services Corp. 6 5.88% $7,985
SUN WEST MORTGAGE COMPANY, INC. 6 5.77% $5,643
Oriental Bank 5 5.00% $5,044
Cooperativa de Ahorro y Credito de Rincon 5 5.50% $6,288
FIRST EQUITY MORTGAGE BANKERS, INC. 4 5.41% $7,126
MULTIPLES MORTGAGE CORPORATION 3 5.25% $21,673
COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA 3 5.83% $97,306
SAN RAFAEL COOP 3 4.83% $3,703
VIG MORTGAGE CORPORATION 2 5.88% $5,713
COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. 2 5.38% $6,167
METRO ISLAND MORTGAGE, INC. 2 4.81% $7,404
PREFERRED MORTGAGE CORPORATION 2 7.81% $6,673
CALCON MUTUAL MORTGAGE LLC 1 5.75% $5,387
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA 1 6.50% $9,266
The Lending Center Corporation 1 6.50% $6,339
TRUST MORTGAGE, CORP 1 6.25% $7,470
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA 1 3.99% $11,358

Arecibo Average Closing Costs & Other Stats

Arecibo, PR's 24 lenders originated 628 loans during 2022. The total origination value was $72,150,000, with an average loan value of $114,889.

Arecibo's average closing costs are $6,135.

The top Arecibo lender as defined by loan originations is Banco Popular de Puerto Rico, with 37 loans originated. Their average total fees are $4,710, which is $5 lower than the next largest lender, COOPERATIVA DE AHORRO Y CREDITO DE CAMUY.

The lowest fee Arecibo lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO ($4,629), Banco Popular de Puerto Rico ($4,710), COOPERATIVA DE AHORRO Y CREDITO DE CAMUY ($4,716), PENTAGON FEDERAL CREDIT UNION ($5,279) and COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA ($6,643).

The lowest rate Arecibo lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (3.50%), Cooperativa A/C de Arecibo (4.00%), FIRSTBANK PUERTO RICO (4.89%), COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA (5.26%) and Banco Popular de Puerto Rico (5.53%).

Arecibo, PR Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
FIRSTBANK PUERTO RICO $17,115,000 $8,445,000 -50.7% 11.7%
Banco Popular de Puerto Rico $11,290,000 $8,300,000 -26.5% 11.5%
METRO ISLAND MORTGAGE, INC. $8,780,000 $7,070,000 -19.5% 9.8%
COOPERATIVA DE AHORRO Y CREDITO DE CAMUY $9,540,000 $5,030,000 -47.3% 7.0%
PENTAGON FEDERAL CREDIT UNION $5,185,000 $3,920,000 -24.4% 5.4%
PREFERRED MORTGAGE CORPORATION $5,895,000 $3,785,000 -35.8% 5.2%
Oriental Bank $9,565,000 $3,485,000 -63.6% 4.8%
THE MONEY HOUSE INC. $2,660,000 $3,430,000 28.9% 4.8%
Cooperativa A/C de Arecibo $3,980,000 $3,390,000 -14.8% 4.7%
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA $3,595,000 $2,655,000 -26.1% 3.7%
Capital Mortgage Services Corp. $3,380,000 $2,240,000 -33.7% 3.1%
SUN WEST MORTGAGE COMPANY, INC. $3,835,000 $1,860,000 -51.5% 2.6%
HOME MORTGAGE BANKERS CORP. $955,000 $1,615,000 69.1% 2.2%
CALCON MUTUAL MORTGAGE LLC $515,000 $1,490,000 189.3% 2.1%
TRUST MORTGAGE, CORP $2,390,000 $1,415,000 -40.8% 2.0%
MULTIPLES MORTGAGE CORPORATION $410,000 $1,295,000 215.9% 1.8%
FIRST EQUITY MORTGAGE BANKERS, INC. $2,065,000 $1,280,000 -38.0% 1.8%
COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA $835,000 $1,160,000 38.9% 1.6%
COOPERATIVA DE AHORRO Y CREDITO DE LARES $245,000 $1,095,000 346.9% 1.5%
RM ACTUAL MORTGAGE, INC. $1,145,000 $1,070,000 -6.6% 1.5%
Cooperativa de Ahoro y Crédito Bo. Quebrada de Camuy, P.R. $1,040,000 $995,000 -4.3% 1.4%
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA $1,390,000 $985,000 -29.1% 1.4%
Cooperativa de Ahorro y Credito de Rincon $80,000 $785,000 881.3% 1.1%
Rf Mortgage & Investment Corp $1,750,000 $600,000 -65.7% 0.8%
HR MORTGAGE CORP. $480,000 $525,000 9.4% 0.7%
SAN RAFAEL COOP $560,000 $495,000 -11.6% 0.7%
Senior Mortgage Bankers Inc $1,135,000 $480,000 -57.7% 0.7%
COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA $375,000 n/a 0.5%
COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. $405,000 $325,000 -19.8% 0.5%
E.M.I. EQUITY MORTGAGE, INC. $1,545,000 $315,000 -79.6% 0.4%
CROSSCOUNTRY MORTGAGE, LLC $300,000 n/a 0.4%
VIG MORTGAGE CORPORATION $235,000 $300,000 27.7% 0.4%
The Lending Center Corporation $730,000 $255,000 -65.1% 0.4%
Equity Prime Mortgage LLC $210,000 n/a 0.3%

Arecibo's top lender by overall market share is FIRSTBANK PUERTO RICO, with 11.7% market share. In second place, with 11.5%, is Banco Popular de Puerto Rico, having originated $8,300,000 in loans. In third place, with 9.8%, is METRO ISLAND MORTGAGE, INC., having originated $7,070,000 in loans. In fourth place, with 7.0%, is COOPERATIVA DE AHORRO Y CREDITO DE CAMUY, having originated $5,030,000 in loans. In fifth place, with 5.4%, is PENTAGON FEDERAL CREDIT UNION, having originated $3,920,000 in loans.

Arecibo, PR Average Rent (2023)

Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
00612 Arecibo, PR $410 $430 $510 $670 $820
00613 Arecibo, PR $410 $410 $470 $630 $740
00614 Arecibo, PR $410 $410 $470 $630 $740
00616 Arecibo, PR $480 $490 $560 $750 $880
00627 Arecibo, PR $410 $410 $470 $630 $740
00650 Arecibo, PR $400 $430 $510 $670 $820
00652 Arecibo, PR $410 $420 $480 $640 $760
00659 Arecibo, PR $390 $390 $450 $600 $710
00662 Arecibo, PR $410 $430 $490 $610 $720
00678 Arecibo, PR $400 $410 $470 $620 $740
00688 Arecibo, PR $390 $390 $450 $600 $710

2022 Average & Median Rent Data Statistics
Arecibo, PR average 1BR rent: $420, median: $410
Arecibo, PR average 2BR rent: $485, median: $470
Arecibo, PR average 3BR rent: $641, median: $630

Arecibo, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 498 $57,840,000 $116,145
Cash Out Refi 67 $7,235,000 $107,985
Refi 57 $6,445,000 $113,070
Other 6 $630,000 $105,000

Arecibo's most frequently cited loan purpose was Home Purchase, with 498 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 163 $18,865,000 $115,736
4-5% 155 $17,885,000 $115,387
3-4% 119 $14,455,000 $121,471
6-7% 115 $12,665,000 $110,130
2.5-3% 30 $3,900,000 $130,000
<2.5% 20 $2,230,000 $111,500
7-8% 12 $920,000 $76,667
Over 8% 2 $130,000 $65,000

During 2022, Arecibo's most frequently originated rate bucket was 5-6%, with 163 originations.

Loan Sizing (Arecibo, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 332 $23,950,000 $72,139
$100k-200k 241 $32,875,000 $136,411
$200k-400k 52 $13,150,000 $252,885
$400k-600k 2 $970,000 $485,000
$Over $1MM 1 $1,205,000 $1,205,000

Arecibo's loan sizing saw the bucket of loans from $100,000 or less with 332 originations, totaling $23,950,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 303 $40,925,000 $135,066
60-80% 221 $22,455,000 $101,606
40-60% 66 $4,890,000 $74,091
20-40% 13 $765,000 $58,846
Over 100% 10 $1,780,000 $178,000
Under 20% 2 $170,000 $85,000

Arecibo's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 303 originations, totaling $40,925,000 in origination value.