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 7.09% for the week of 2024-07-11, compared to the national average of 6.89% for the same period.

The average rate for the prior week (2024-07-03) was 6.85% and one month ago for the week of 2024-06-06, the average rate was 6.99%.

Coco's average rate one year ago was 6.81%.

For refis of the same type during the week of 2024-07-11, the average rate was 6.79%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-11 6.89%
Coco 30 Year Fixed Rate 2024-07-11 7.09%
Coco 30 Year Fixed Rate Refi 2024-07-11 6.79%
Coco 15 Year Fixed Rate 2024-07-11 5.97%
Coco 15 Year Fixed Rate Refi 2024-07-11 6.27%
Coco 30 Year FHA 2024-07-11 6.46%
Coco 30 Year FHA Refi 2024-07-11 6.76%
Coco 30 Year USDA 2024-07-11 6.87%
Coco 30 Year USDA Refi 2024-07-11 6.47%
Coco 30 Year VA 2024-07-11 6.26%
Coco 30 Year VA Refi 2024-07-11 6.26%
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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRSTBANK PUERTO RICO 6 5.98% $4,231
Banco Popular de Puerto Rico 5 9.50% $2,569
Oriental Bank 2 6.38% $4,304
FIRST EQUITY MORTGAGE BANKERS, INC. 1 6.88% $5,428
PENTAGON FEDERAL CREDIT UNION 1 6.00% $6,341
SUN WEST MORTGAGE COMPANY, INC. 1 7.88% $6,533
Cooperativa A/C Oriental 1 7.75% $4,686
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA 1 5.25% $7,178

Coco Average Closing Costs & Other Stats

Coco, PR's 8 lenders originated 75 loans during 2023. The total origination value was $8,325,000, with an average loan value of $111,000.

Coco's average closing costs are $5,384.

The top Coco lender as defined by loan originations is FIRSTBANK PUERTO RICO, with 6 loans originated. Their average total fees are $4,231, which is $1,662 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
THE MONEY HOUSE INC. $1,085,000 $1,995,000 83.9% 24.0%
FIRSTBANK PUERTO RICO $1,235,000 $1,230,000 -0.4% 14.8%
Banco Popular de Puerto Rico $905,000 $920,000 1.7% 11.1%
Oriental Bank $605,000 $845,000 39.7% 10.2%
RM ACTUAL MORTGAGE, INC. $655,000 $660,000 0.8% 7.9%
SUN WEST MORTGAGE COMPANY, INC. $735,000 $530,000 -27.9% 6.4%
HOME MORTGAGE BANKERS CORP. $95,000 $510,000 436.8% 6.1%
METRO ISLAND MORTGAGE, INC. $925,000 $365,000 -60.5% 4.4%
PREFERRED MORTGAGE CORPORATION $370,000 $260,000 -29.7% 3.1%
HR MORTGAGE CORP. $730,000 $155,000 -78.8% 1.9%
FIRST EQUITY MORTGAGE BANKERS, INC. $200,000 $150,000 -25.0% 1.8%
EVERETT FINANCIAL, INC. $135,000 n/a 1.6%
PENTAGON FEDERAL CREDIT UNION $305,000 $115,000 -62.3% 1.4%
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA $105,000 n/a 1.3%
TRUST MORTGAGE, CORP $130,000 $105,000 -19.2% 1.3%
VIG MORTGAGE CORPORATION $105,000 n/a 1.3%
Cooperativa A/C Oriental $85,000 n/a 1.0%
MULTIPLES MORTGAGE CORPORATION $55,000 n/a 0.7%

Coco's top lender by overall market share is THE MONEY HOUSE INC., with 24.0% market share. In second place, with 14.8%, is FIRSTBANK PUERTO RICO, having originated $1,230,000 in loans. In third place, with 11.1%, is Banco Popular de Puerto Rico, having originated $920,000 in loans. In fourth place, with 10.2%, is Oriental Bank, having originated $845,000 in loans. In fifth place, with 7.9%, is RM ACTUAL MORTGAGE, INC., having originated $660,000 in loans.

Coco, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 68 $7,780,000 $114,412
Cash Out Refi 5 $375,000 $75,000
Refi 2 $170,000 $85,000

Coco's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 39 $4,805,000 $123,205
5-6% 20 $1,980,000 $99,000
7-8% 7 $715,000 $102,143
Over 8% 7 $485,000 $69,286
4-5% 2 $340,000 $170,000

During 2023, Coco's most frequently originated rate bucket was 6-7%, with 39 originations.

Loan Sizing (Coco, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 36 $2,470,000 $68,611
$100k-200k 33 $4,225,000 $128,030
$200k-400k 6 $1,630,000 $271,667

Coco's loan sizing saw the bucket of loans from $100,000 or less with 36 originations, totaling $2,470,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 37 $4,685,000 $126,622
60-80% 21 $1,505,000 $71,667
Over 100% 10 $1,780,000 $178,000
40-60% 7 $355,000 $50,714

Coco's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 37 originations, totaling $4,685,000 in origination value.