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 6.98% 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 7.02% and one month ago for the week of 2023-08-10, the average rate was 6.86%.

Coamo's average rate one year ago was 5.69%.

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%
Coamo 30 Year Fixed Rate 2023-09-14 6.98%
Coamo 30 Year Fixed Rate Refi 2023-09-14 7.78%
Coamo 15 Year Fixed Rate 2023-09-14 6.61%
Coamo 15 Year Fixed Rate Refi 2023-09-14 6.81%
Coamo 30 Year FHA 2023-09-14 7.09%
Coamo 30 Year FHA Refi 2023-09-14 6.99%
Coamo 30 Year USDA 2023-09-14 6.78%
Coamo 30 Year USDA Refi 2023-09-14 6.98%
Coamo 30 Year VA 2023-09-14 6.91%
Coamo 30 Year VA Refi 2023-09-14 6.91%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Banco Popular de Puerto Rico 7 5.89% $5,035
Oriental Bank 3 4.29% $5,338
Capital Mortgage Services Corp. 1 7.75% $5,623
Cooperativa de Ahorro y Credito de Rincon 1 6.50% $4,147
Cooperativa de Ahorro y Credito Jesus Obrero 1 4.75% $4,160
Cooperativa De Ahorro Y Credito La Aiboniteña 1 5.50% $8,109
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA 1 5.25% $6,510
FIRSTBANK PUERTO RICO 1 5.38% $7,854
FIRST EQUITY MORTGAGE BANKERS, INC. 1 5.88% $6,035
Rf Mortgage & Investment Corp 1 5.88% $5,298
SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $5,199
Baxter Credit Union 1 6.13% $5,234

Coamo Average Closing Costs & Other Stats

Coamo, PR's 12 lenders originated 106 loans during 2022. The total origination value was $12,210,000, with an average loan value of $115,189.

Coamo's average closing costs are $5,742.

The top Coamo lender as defined by loan originations is Banco Popular de Puerto Rico, with 7 loans originated. Their average total fees are $5,035, which is $302 lower than the next largest lender, Oriental Bank.

The lowest fee Coamo lenders (with over 10 loans originated) are .

The lowest rate Coamo lenders (with over 10 loans originated) are .

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Oriental Bank $1,565,000 $2,270,000 45.0% 18.6%
Banco Popular de Puerto Rico $3,265,000 $2,005,000 -38.6% 16.4%
FIRSTBANK PUERTO RICO $2,250,000 $1,300,000 -42.2% 10.6%
METRO ISLAND MORTGAGE, INC. $1,155,000 $1,140,000 -1.3% 9.3%
FIRST EQUITY MORTGAGE BANKERS, INC. $1,675,000 $800,000 -52.2% 6.6%
THE MONEY HOUSE INC. $1,950,000 $760,000 -61.0% 6.2%
SUN WEST MORTGAGE COMPANY, INC. $1,250,000 $635,000 -49.2% 5.2%
PREFERRED MORTGAGE CORPORATION $640,000 $580,000 -9.4% 4.8%
PENTAGON FEDERAL CREDIT UNION $350,000 $520,000 48.6% 4.3%
RM ACTUAL MORTGAGE, INC. $55,000 $370,000 572.7% 3.0%
TRUST MORTGAGE, CORP $520,000 $285,000 -45.2% 2.3%
VIG MORTGAGE CORPORATION $290,000 $165,000 -43.1% 1.4%
Rf Mortgage & Investment Corp $105,000 $160,000 52.4% 1.3%
Senior Mortgage Bankers Inc $85,000 $155,000 82.4% 1.3%
HR MORTGAGE CORP. $250,000 $150,000 -40.0% 1.2%
Cooperativa de Ahorro y Credito de Rincon $130,000 n/a 1.1%
Capital Mortgage Services Corp. $95,000 $125,000 31.6% 1.0%
MULTIPLES MORTGAGE CORPORATION $155,000 $125,000 -19.4% 1.0%
Baxter Credit Union $115,000 n/a 0.9%
Cooperativa De Ahorro Y Credito La Aiboniteña $115,000 n/a 0.9%
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA $95,000 n/a 0.8%
HOME MORTGAGE BANKERS CORP. $75,000 $85,000 13.3% 0.7%
Cooperativa de Ahorro y Credito Jesus Obrero $75,000 n/a 0.6%
Cooperativa De Credito Y Ahorro San Jose $25,000 n/a 0.2%
SAN RAFAEL COOP $25,000 n/a 0.2%

Coamo's top lender by overall market share is Oriental Bank, with 18.6% market share. In second place, with 16.4%, is Banco Popular de Puerto Rico, having originated $2,005,000 in loans. In third place, with 10.6%, is FIRSTBANK PUERTO RICO, having originated $1,300,000 in loans. In fourth place, with 9.3%, is METRO ISLAND MORTGAGE, INC., having originated $1,140,000 in loans. In fifth place, with 6.6%, is FIRST EQUITY MORTGAGE BANKERS, INC., having originated $800,000 in loans.

Coamo, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 83 $9,775,000 $117,771
Cash Out Refi 17 $1,825,000 $107,353
Refi 5 $545,000 $109,000
Other 1 $65,000 $65,000

Coamo's most frequently cited loan purpose was Home Purchase, with 83 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
4-5% 26 $3,070,000 $118,077
5-6% 26 $2,860,000 $110,000
3-4% 21 $2,605,000 $124,048
6-7% 13 $1,325,000 $101,923
2.5-3% 9 $1,035,000 $115,000
<2.5% 5 $735,000 $147,000
7-8% 4 $390,000 $97,500
Over 8% 1 $65,000 $65,000

During 2022, Coamo's most frequently originated rate bucket was 4-5%, with 26 originations.

Loan Sizing (Coamo, PR MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 56 $7,620,000 $136,071
$100,000 or less 44 $3,070,000 $69,773
$200k-400k 6 $1,520,000 $253,333

Coamo's loan sizing saw the bucket of loans from $100k-200k with 56 originations, totaling $7,620,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 54 $7,340,000 $135,926
60-80% 36 $3,500,000 $97,222
40-60% 12 $710,000 $59,167
Over 100% 2 $480,000 $240,000
20-40% 1 $55,000 $55,000

Coamo's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 54 originations, totaling $7,340,000 in origination value.