Coamo Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Coamo averaged 7.09% for the week of 2024-06-06, compared to the national average of 6.99% for the same period.

The average rate for the prior week (2024-05-30) was 7.03% and one month ago for the week of 2024-05-02, the average rate was 7.42%.

Coamo's average rate one year ago was 6.69%.

For refis of the same type during the week of 2024-06-06, the average rate was 7.09%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-06 6.99%
Coamo 30 Year Fixed Rate 2024-06-06 7.09%
Coamo 30 Year Fixed Rate Refi 2024-06-06 7.09%
Coamo 15 Year Fixed Rate 2024-06-06 6.09%
Coamo 15 Year Fixed Rate Refi 2024-06-06 6.49%
Coamo 30 Year FHA 2024-06-06 6.59%
Coamo 30 Year FHA Refi 2024-06-06 6.69%
Coamo 30 Year USDA 2024-06-06 6.9%
Coamo 30 Year USDA Refi 2024-06-06 6.5%
Coamo 30 Year VA 2024-06-06 6.49%
Coamo 30 Year VA Refi 2024-06-06 6.29%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Coamo, PR.

Coamo 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 Coamo, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Banco Popular de Puerto Rico 10 7.75% $3,880
SUN WEST MORTGAGE COMPANY, INC. 5 7.28% $5,207
Oriental Bank 4 6.31% $4,933
Cooperativa De Credito Y Ahorro San Jose 1 6.75% $5,641
Equity Prime Mortgage LLC 1 7.63% $9,861
Cooperativa A/C de Arecibo 1 6.75% $13,388
PENTAGON FEDERAL CREDIT UNION 1 5.88% $5,697
CALCON MUTUAL MORTGAGE LLC 1 7.25% $6,884
FIRSTBANK PUERTO RICO 1 6.00% $3,917

Coamo Average Closing Costs & Other Stats

Coamo, PR's 9 lenders originated 103 loans during 2023. The total origination value was $12,575,000, with an average loan value of $122,087.

Coamo's average closing costs are $5,973.

The top Coamo lender as defined by loan originations is Banco Popular de Puerto Rico, with 10 loans originated. Their average total fees are $3,880, which is $1,328 lower than the next largest lender, SUN WEST MORTGAGE COMPANY, INC..

The lowest fee Coamo lenders (with over 10 loans originated) are Banco Popular de Puerto Rico ($3,880), .

The lowest rate Coamo lenders (with over 10 loans originated) are Banco Popular de Puerto Rico (7.75%), .

Coamo, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Banco Popular de Puerto Rico $2,005,000 $2,885,000 43.9% 22.9%
THE MONEY HOUSE INC. $760,000 $1,665,000 119.1% 13.2%
SUN WEST MORTGAGE COMPANY, INC. $635,000 $1,630,000 156.7% 13.0%
FIRSTBANK PUERTO RICO $1,300,000 $1,085,000 -16.5% 8.6%
Oriental Bank $2,270,000 $995,000 -56.2% 7.9%
METRO ISLAND MORTGAGE, INC. $1,140,000 $810,000 -28.9% 6.4%
FIRST EQUITY MORTGAGE BANKERS, INC. $800,000 $565,000 -29.4% 4.5%
E.M.I. EQUITY MORTGAGE, INC. $320,000 n/a 2.5%
PENTAGON FEDERAL CREDIT UNION $520,000 $275,000 -47.1% 2.2%
RM ACTUAL MORTGAGE, INC. $370,000 $275,000 -25.7% 2.2%
HOME MORTGAGE BANKERS CORP. $85,000 $270,000 217.6% 2.1%
PREFERRED MORTGAGE CORPORATION $580,000 $260,000 -55.2% 2.1%
HR MORTGAGE CORP. $150,000 $245,000 63.3% 1.9%
VIG MORTGAGE CORPORATION $165,000 $200,000 21.2% 1.6%
CALCON MUTUAL MORTGAGE LLC $190,000 n/a 1.5%
Cooperativa A/C de Arecibo $185,000 n/a 1.5%
LATIN AMERICAN FINANCIAL CORPORATION $165,000 n/a 1.3%
TRUST MORTGAGE, CORP $285,000 $160,000 -43.9% 1.3%
Equity Prime Mortgage LLC $145,000 n/a 1.2%
Capital Mortgage Services Corp. $125,000 $125,000 0.0% 1.0%
Cooperativa De Credito Y Ahorro San Jose $25,000 $125,000 400.0% 1.0%

Coamo's top lender by overall market share is Banco Popular de Puerto Rico, with 22.9% market share. In second place, with 13.2%, is THE MONEY HOUSE INC., having originated $1,665,000 in loans. In third place, with 13.0%, is SUN WEST MORTGAGE COMPANY, INC., having originated $1,630,000 in loans. In fourth place, with 8.6%, is FIRSTBANK PUERTO RICO, having originated $1,085,000 in loans. In fifth place, with 7.9%, is Oriental Bank, having originated $995,000 in loans.

Coamo, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 93 $11,335,000 $121,882
Cash Out Refi 6 $850,000 $141,667
Home Improvement 2 $120,000 $60,000
Other 2 $270,000 $135,000

Coamo's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 50 $5,950,000 $119,000
5-6% 22 $3,170,000 $144,091
7-8% 16 $1,570,000 $98,125
4-5% 6 $980,000 $163,333
Over 8% 6 $470,000 $78,333
3-4% 3 $435,000 $145,000

During 2023, Coamo's most frequently originated rate bucket was 6-7%, with 50 originations.

Loan Sizing (Coamo, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 48 $3,450,000 $71,875
$100k-200k 44 $6,020,000 $136,818
$200k-400k 9 $2,205,000 $245,000
$400k-600k 2 $900,000 $450,000

Coamo's loan sizing saw the bucket of loans from $100,000 or less with 48 originations, totaling $3,450,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
60-80% 44 $3,960,000 $90,000
80-100% 41 $6,205,000 $151,341
40-60% 12 $860,000 $71,667
Over 100% 5 $1,505,000 $301,000
20-40% 1 $45,000 $45,000

Coamo's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 44 originations, totaling $3,960,000 in origination value.