Coco Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Coco averaged 7.39% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 7.28% and one month ago for the week of 2023-08-17, the average rate was 6.89%.

Coco's average rate one year ago was 5.82%.

For refis of the same type during the week of 2023-09-21, the average rate was 7.89%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Coco 30 Year Fixed Rate 2023-09-21 7.39%
Coco 30 Year Fixed Rate Refi 2023-09-21 7.89%
Coco 15 Year Fixed Rate 2023-09-21 6.34%
Coco 15 Year Fixed Rate Refi 2023-09-21 6.74%
Coco 30 Year FHA 2023-09-21 6.94%
Coco 30 Year FHA Refi 2023-09-21 7.24%
Coco 30 Year USDA 2023-09-21 6.82%
Coco 30 Year USDA Refi 2023-09-21 6.92%
Coco 30 Year VA 2023-09-21 6.62%
Coco 30 Year VA Refi 2023-09-21 6.72%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Coco, PR.

Coco 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 Coco, 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
FIRSTBANK PUERTO RICO 3 5.33% $5,681
Banco Popular de Puerto Rico 3 7.38% $3,529
PENTAGON FEDERAL CREDIT UNION 2 3.06% $3,288
PREFERRED MORTGAGE CORPORATION 2 6.50% $5,961
RM ACTUAL MORTGAGE, INC. 2 5.63% $12,235
SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $5,969
Cooperativa de Ahorro y Credito de Rincon 1 6.50% $3,112
Cooperativa De Ahorro Y Credito La Aiboniteña 1 6.75% $6,487
FIRST EQUITY MORTGAGE BANKERS, INC. 1 5.88% $6,351
Oriental Bank 1 5.50% $4,083

Coco Average Closing Costs & Other Stats

Coco, PR's 10 lenders originated 89 loans during 2022. The total origination value was $8,995,000, with an average loan value of $101,067.

Coco's average closing costs are $5,255.

The top Coco lender as defined by loan originations is FIRSTBANK PUERTO RICO, with 3 loans originated. Their average total fees are $5,681, which is $2,152 higher than the next largest lender, Banco Popular de Puerto Rico.

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

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

Coco, 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 $655,000 $1,235,000 88.5% 13.7%
THE MONEY HOUSE INC. $1,120,000 $1,085,000 -3.1% 12.1%
METRO ISLAND MORTGAGE, INC. $900,000 $925,000 2.8% 10.3%
Banco Popular de Puerto Rico $1,265,000 $905,000 -28.5% 10.1%
SUN WEST MORTGAGE COMPANY, INC. $1,715,000 $735,000 -57.1% 8.2%
HR MORTGAGE CORP. $625,000 $730,000 16.8% 8.1%
RM ACTUAL MORTGAGE, INC. $1,150,000 $655,000 -43.0% 7.3%
Oriental Bank $470,000 $605,000 28.7% 6.7%
PREFERRED MORTGAGE CORPORATION $415,000 $370,000 -10.8% 4.1%
PENTAGON FEDERAL CREDIT UNION $435,000 $305,000 -29.9% 3.4%
CARIBE FEDERAL CREDIT UNION $205,000 n/a 2.3%
FIRST EQUITY MORTGAGE BANKERS, INC. $640,000 $200,000 -68.8% 2.2%
E.M.I. EQUITY MORTGAGE, INC. $180,000 $160,000 -11.1% 1.8%
The Lending Center Corporation $155,000 n/a 1.7%
TRUST MORTGAGE, CORP $95,000 $130,000 36.8% 1.4%
LATIN AMERICAN FINANCIAL CORPORATION $95,000 $105,000 10.5% 1.2%
Cooperativa De Ahorro Y Credito La Aiboniteña $95,000 n/a 1.1%
HOME MORTGAGE BANKERS CORP. $95,000 n/a 1.1%
Rf Mortgage & Investment Corp $190,000 $95,000 -50.0% 1.1%
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA $75,000 n/a 0.8%
Cooperativa de A/C de Maunabo $65,000 n/a 0.7%
Cooperativa de Ahorro y Credito de Rincon $65,000 n/a 0.7%

Coco's top lender by overall market share is FIRSTBANK PUERTO RICO, with 13.7% market share. In second place, with 12.1%, is THE MONEY HOUSE INC., having originated $1,085,000 in loans. In third place, with 10.3%, is METRO ISLAND MORTGAGE, INC., having originated $925,000 in loans. In fourth place, with 10.1%, is Banco Popular de Puerto Rico, having originated $905,000 in loans. In fifth place, with 8.2%, is SUN WEST MORTGAGE COMPANY, INC., having originated $735,000 in loans.

Coco, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 78 $7,860,000 $100,769
Cash Out Refi 6 $630,000 $105,000
Refi 4 $440,000 $110,000
Home Improvement 1 $65,000 $65,000

Coco's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 23 $2,485,000 $108,043
5-6% 21 $2,185,000 $104,048
4-5% 20 $2,020,000 $101,000
6-7% 16 $1,510,000 $94,375
2.5-3% 5 $515,000 $103,000
7-8% 2 $130,000 $65,000
Over 8% 1 $45,000 $45,000
<2.5% 1 $105,000 $105,000

During 2022, Coco's most frequently originated rate bucket was 3-4%, with 23 originations.

Loan Sizing (Coco, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 52 $4,050,000 $77,885
$100k-200k 34 $4,310,000 $126,765
$200k-400k 3 $635,000 $211,667

Coco's loan sizing saw the bucket of loans from $100,000 or less with 52 originations, totaling $4,050,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 59 $6,175,000 $104,661
60-80% 18 $1,570,000 $87,222
40-60% 6 $360,000 $60,000
Over 100% 5 $745,000 $149,000

Coco's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 59 originations, totaling $6,175,000 in origination value.