Coco Mortgage Rates
30 Year Fixed Rate mortgages in Coco averaged
for the week of 2022-06-30, compared to the national average of
5.7% for the same period.
The average rate for the prior week (2022-06-23) was 7.05% and one month ago for the week of 2022-05-26, the average rate was 6.04%.
Coco's average rate one year ago was 3.42%.
For refis of the same type during the week of 2022-06-30, the average rate was 5.9%.
|US 30 Year Fixed Rate||2022-06-30||5.7%|
|Coco 30 Year Fixed Rate||2022-06-30||6.74%|
|Coco 30 Year Fixed Rate Refi||2022-06-30||5.9%|
|Coco 15 Year Fixed Rate||2022-06-30||6.2%|
|Coco 15 Year Fixed Rate Refi||2022-06-30||5.08%|
|Coco 30 Year FHA||2022-06-30||5.76%|
|Coco 30 Year FHA Refi||2022-06-30||5.87%|
|Coco 30 Year USDA||2022-06-30||5.89%|
|Coco 30 Year USDA Refi||2022-06-30||5.27%|
|Coco 30 Year VA||2022-06-30||6.35%|
|Coco 30 Year VA Refi||2022-06-30||2.47%|
Coco 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 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||2021 Avg. 30yFix Rate||2021 Avg. Total Fees|
|Banco Popular de Puerto Rico||5||3.05%||$5,122|
|COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS||4||3.69%||$2,269|
|PENTAGON FEDERAL CREDIT UNION||2||2.44%||$4,579|
|THE MONEY HOUSE INC.||1||3.88%||$2,157|
|FIRSTBANK PUERTO RICO||1||3.25%||$3,775|
|Baxter Credit Union||1||2.88%||$1,697|
|SUN WEST MORTGAGE COMPANY, INC.||1||3.63%||$5,243|
Coco, PR's 7 lenders originated 117
loans during 2021. The total origination value was $10,565,000, with an average loan value of
The top Coco lender as defined by loan originations is Banco Popular de Puerto Rico, with 5 loans originated. Their average total fees are $5,122, which is $2,853 higher than the next largest lender, COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS.
The lowest fee Coco lenders (with over 10 loans originated) are .
The lowest rate Coco lenders (with over 10 loans originated) are .
Coco, 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|
|SUN WEST MORTGAGE COMPANY, INC.||$520,000||$1,715,000||229.8%||16.2%|
|Banco Popular de Puerto Rico||$1,035,000||$1,265,000||22.2%||12.0%|
|RM ACTUAL MORTGAGE, INC.||$1,275,000||$1,150,000||-9.8%||10.9%|
|THE MONEY HOUSE INC.||$150,000||$1,120,000||646.7%||10.6%|
|METRO ISLAND MORTGAGE, INC.||$460,000||$900,000||95.7%||8.5%|
|FIRSTBANK PUERTO RICO||$230,000||$655,000||184.8%||6.2%|
|FIRST EQUITY MORTGAGE BANKERS, INC.||$580,000||$640,000||10.3%||6.1%|
|HR MORTGAGE CORP.||$190,000||$625,000||228.9%||5.9%|
|PENTAGON FEDERAL CREDIT UNION||$435,000||n/a||4.1%|
|PREFERRED MORTGAGE CORPORATION||$245,000||$415,000||69.4%||3.9%|
|COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS||$570,000||$380,000||-33.3%||3.6%|
|Rf Mortgage & Investment Corp||$190,000||n/a||1.8%|
|E.M.I. EQUITY MORTGAGE, INC.||$85,000||$180,000||111.8%||1.7%|
|LATIN AMERICAN FINANCIAL CORPORATION||$95,000||n/a||0.9%|
|TRUST MORTGAGE, CORP||$250,000||$95,000||-62.0%||0.9%|
|Equity Prime Mortgage LLC||$85,000||n/a||0.8%|
|Baxter Credit Union||$75,000||n/a||0.7%|
|Senior Mortgage Bankers Inc||$75,000||n/a||0.7%|
Coco's top lender by overall market share is SUN WEST MORTGAGE COMPANY, INC., with 16.2% market share. In second place, with 12.0%, is Banco Popular de Puerto Rico, having originated $1,265,000 in loans. In third place, with 10.9%, is RM ACTUAL MORTGAGE, INC., having originated $1,150,000 in loans. In third place, with 10.6%, is THE MONEY HOUSE INC., having originated $1,120,000 in loans. In third place, with 8.5%, is METRO ISLAND MORTGAGE, INC., having originated $900,000 in loans.
Coco, PR Market Loan Reason
|Loan Purpose||Originations||Total Value||Average Loan|
|Cash Out Refi||10||$760,000||$76,000|
Coco's most frequently cited loan purpose was Home Purchase, with 91 originations. The 2nd most popular reason was Refi, with 16 originations.
Interest Rate Frequencies
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Coco's most frequently originated rate bucket was 2.5-3%, with 46 originations.
Loan Sizing (Coco, PR MSA)
|Loan Size||Originations||Total Value||Average Loan|
|$100,000 or less||88||$6,930,000||$78,750|
Coco's loan sizing saw the bucket of loans from $100,000 or less with 88 originations, totaling $6,930,000 in origination value.
|Loan to Value||Originations||Total Value||Average Loan|
Coco's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 86 originations, totaling $8,360,000 in origination value.