Coamo Mortgage Rates
30 Year Fixed Rate mortgages in Coamo averaged
6.66%
for the week of 2022-06-23, compared to the national average of
5.81% for the same period.
The average rate for the prior week (2022-06-16) was
6.63% and
one month ago for the week of 2022-05-19, the
average rate was 5.9%.
Coamo's average rate one year ago was 3.86%.
For refis of the same type during the week of 2022-06-23, the average rate
was 6.92%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
| Coamo 30 Year Fixed Rate | 2022-06-23 | 6.66% |
| Coamo 30 Year Fixed Rate Refi | 2022-06-23 | 6.92% |
| Coamo 15 Year Fixed Rate | 2022-06-23 | 4.91% |
| Coamo 15 Year Fixed Rate Refi | 2022-06-23 | 2.3% |
| Coamo 30 Year FHA | 2022-06-23 | -0.12% |
| Coamo 30 Year FHA Refi | 2022-06-23 | -0.08% |
| Coamo 30 Year USDA | 2022-06-23 | -0.13% |
| Coamo 30 Year USDA Refi | 2022-06-23 | -0.42% |
| Coamo 30 Year VA | 2022-06-23 | 0.14% |
| Coamo 30 Year VA Refi | 2022-06-23 | -0.13% |
Coamo Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, 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 | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| Banco Popular de Puerto Rico | 8 | 3.69% | $3,841 |
| FIRSTBANK PUERTO RICO | 3 | 3.42% | $4,125 |
| Oriental Bank | 3 | 3.33% | $3,556 |
| PENTAGON FEDERAL CREDIT UNION | 1 | 3.25% | $4,436 |
| FIRST EQUITY MORTGAGE BANKERS, INC. | 1 | 3.50% | $4,730 |
| CARIBE FEDERAL CREDIT UNION | 1 | 3.25% | $7,027 |
| METRO ISLAND MORTGAGE, INC. | 1 | 5.00% | $9,151 |
Coamo, PR's 7 lenders originated 145
loans during 2021. The total origination value was $16,705,000, with an average loan value of
$115,207.
The top Coamo lender as defined by loan originations is Banco Popular de Puerto Rico, with
8 loans originated. Their average total fees are
$3,841, which is $284
lower than the next largest lender,
FIRSTBANK PUERTO RICO.
The lowest fee Coamo lenders (with over 10 loans originated) are
.
The lowest rate Coamo lenders (with over 10 loans originated) are
.
Coamo, PR Lender 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| Banco Popular de Puerto Rico | $2,225,000 | $3,265,000 | 46.7% | 19.5% |
| FIRSTBANK PUERTO RICO | $1,315,000 | $2,250,000 | 71.1% | 13.5% |
| THE MONEY HOUSE INC. | $1,365,000 | $1,950,000 | 42.9% | 11.7% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $1,735,000 | $1,675,000 | -3.5% | 10.0% |
| Oriental Bank | $1,470,000 | $1,565,000 | 6.5% | 9.4% |
| SUN WEST MORTGAGE COMPANY, INC. | $2,230,000 | $1,250,000 | -43.9% | 7.5% |
| METRO ISLAND MORTGAGE, INC. | $505,000 | $1,155,000 | 128.7% | 6.9% |
| PREFERRED MORTGAGE CORPORATION | $200,000 | $640,000 | 220.0% | 3.8% |
| TRUST MORTGAGE, CORP | $370,000 | $520,000 | 40.5% | 3.1% |
| CARIBE FEDERAL CREDIT UNION | $430,000 | n/a | 2.6% | |
| PENTAGON FEDERAL CREDIT UNION | $245,000 | $350,000 | 42.9% | 2.1% |
| VIG MORTGAGE CORPORATION | $290,000 | n/a | 1.7% | |
| HR MORTGAGE CORP. | $605,000 | $250,000 | -58.7% | 1.5% |
| CALCON MUTUAL MORTGAGE LLC | $75,000 | $155,000 | 106.7% | 0.9% |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | $155,000 | n/a | 0.9% | |
| MULTIPLES MORTGAGE CORPORATION | $155,000 | n/a | 0.9% | |
| Equity Prime Mortgage LLC | $125,000 | n/a | 0.7% | |
| Rf Mortgage & Investment Corp | $105,000 | n/a | 0.6% | |
| Capital Mortgage Services Corp. | $150,000 | $95,000 | -36.7% | 0.6% |
| Senior Mortgage Bankers Inc | $145,000 | $85,000 | -41.4% | 0.5% |
| HOME MORTGAGE BANKERS CORP. | $75,000 | n/a | 0.4% | |
| COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA | $65,000 | n/a | 0.4% | |
| RM ACTUAL MORTGAGE, INC. | $435,000 | $55,000 | -87.4% | 0.3% |
| Cooperativa A/C de Arecibo | $105,000 | $45,000 | -57.1% | 0.3% |
Coamo's top lender by overall market share is Banco Popular de Puerto Rico, with 19.5% market share. In second place, with 13.5%, is FIRSTBANK PUERTO RICO, having originated $2,250,000 in loans. In third place, with 11.7%, is THE MONEY HOUSE INC., having originated $1,950,000 in loans. In third place, with 10.0%, is FIRST EQUITY MORTGAGE BANKERS, INC., having originated $1,675,000 in loans. In third place, with 9.4%, is Oriental Bank, having originated $1,565,000 in loans.
Coamo, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 97 | $11,535,000 | $118,918 |
| Refi | 23 | $2,665,000 | $115,870 |
| Cash Out Refi | 23 | $2,365,000 | $102,826 |
| Other | 2 | $140,000 | $70,000 |
Coamo's most frequently cited loan purpose was Home Purchase, with 97 originations. The 2nd most popular reason was Refi, with 23 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 49 | $5,585,000 | $113,980 |
| 2.5-3% | 48 | $5,920,000 | $123,333 |
| <2.5% | 36 | $4,270,000 | $118,611 |
| 4-5% | 10 | $860,000 | $86,000 |
| 5-6% | 1 | $35,000 | $35,000 |
| 6-7% | 1 | $35,000 | $35,000 |
During 2021, Coamo's most frequently originated rate bucket was 3-4%, with 49 originations.
Loan Sizing (Coamo, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 74 | $10,550,000 | $142,568 |
| $100,000 or less | 66 | $5,000,000 | $75,758 |
| $200k-400k | 5 | $1,155,000 | $231,000 |
Coamo's loan sizing saw the bucket of loans from $100k-200k with 74 originations, totaling $10,550,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 95 | $11,985,000 | $126,158 |
| 60-80% | 36 | $3,500,000 | $97,222 |
| 40-60% | 10 | $710,000 | $71,000 |
| Over 100% | 3 | $385,000 | $128,333 |
Coamo's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 95 originations, totaling $11,985,000 in origination value.
