GUAYAMA Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Guayama averaged
6.9%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
7.08% and
one month ago for the week of 2024-03-14, the
average rate was 6.84%.
Guayama's average rate one year ago was 6.07%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Guayama 30 Year Fixed Rate | 2024-04-18 | 6.9% |
| Guayama 30 Year Fixed Rate Refi | 2024-04-18 | 7% |
| Guayama 15 Year Fixed Rate | 2024-04-18 | 6.59% |
| Guayama 15 Year Fixed Rate Refi | 2024-04-18 | 6.69% |
| Guayama 30 Year FHA | 2024-04-18 | 6.46% |
| Guayama 30 Year FHA Refi | 2024-04-18 | 7.06% |
| Guayama 30 Year USDA | 2024-04-18 | 6.76% |
| Guayama 30 Year USDA Refi | 2024-04-18 | 6.76% |
| Guayama 30 Year VA | 2024-04-18 | 6.56% |
| Guayama 30 Year VA Refi | 2024-04-18 | 6.86% |
GUAYAMA 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 GUAYAMA, 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 |
|---|---|---|---|
| Banco Popular de Puerto Rico | 17 | 7.81% | $4,430 |
| FIRSTBANK PUERTO RICO | 7 | 6.13% | $4,261 |
| Oriental Bank | 4 | 6.88% | $4,214 |
| Cooperativa de A/C de Maunabo | 4 | 6.96% | $5,409 |
| Rf Mortgage & Investment Corp | 2 | 7.13% | $7,084 |
| SUN WEST MORTGAGE COMPANY, INC. | 2 | 7.63% | $6,829 |
| Cooperativa A/C de Arecibo | 1 | 4.25% | $7,599 |
| FIRST EQUITY MORTGAGE BANKERS, INC. | 1 | 7.38% | $6,706 |
| HR MORTGAGE CORP. | 1 | 7.00% | $9,771 |
| Cooperativa A/C Oriental | 1 | 7.75% | $4,226 |
| THE MONEY HOUSE INC. | 1 | 8.50% | $5,617 |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | 1 | 7.25% | $8,106 |
| Cooperativa de Ahorro y Credito Jesus Obrero | 1 | 7.25% | $10,601 |
| Cooperativa De Ahorro Y Credito La Aiboniteña | 1 | 6.00% | $7,323 |
GUAYAMA Average Closing Costs & Other Stats
GUAYAMA, PR's 14 lenders originated 244
loans during 2023. The total origination value was $29,890,000, with an average loan value of
$122,500.
GUAYAMA's average closing costs are $5,586.
The top GUAYAMA lender as defined by loan originations is Banco Popular de Puerto Rico, with
17 loans originated. Their average total fees are
$4,430, which is $169
higher than the next largest lender,
FIRSTBANK PUERTO RICO.
The lowest fee GUAYAMA lenders (with over 10 loans originated) are
Banco Popular de Puerto Rico ($4,430), .
The lowest rate GUAYAMA lenders (with over 10 loans originated) are
Banco Popular de Puerto Rico (7.81%), .
GUAYAMA, 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 |
|---|---|---|---|---|
| Oriental Bank | $1,980,000 | $6,880,000 | 247.5% | 23.0% |
| THE MONEY HOUSE INC. | $2,060,000 | $6,380,000 | 209.7% | 21.3% |
| Banco Popular de Puerto Rico | $2,155,000 | $3,140,000 | 45.7% | 10.5% |
| FIRSTBANK PUERTO RICO | $2,595,000 | $2,175,000 | -16.2% | 7.3% |
| PREFERRED MORTGAGE CORPORATION | $1,880,000 | $1,495,000 | -20.5% | 5.0% |
| METRO ISLAND MORTGAGE, INC. | $830,000 | $1,270,000 | 53.0% | 4.2% |
| Cooperativa de A/C de Maunabo | $300,000 | $1,110,000 | 270.0% | 3.7% |
| HR MORTGAGE CORP. | $2,170,000 | $1,060,000 | -51.2% | 3.5% |
| SUN WEST MORTGAGE COMPANY, INC. | $1,670,000 | $910,000 | -45.5% | 3.0% |
| Senior Mortgage Bankers Inc | $625,000 | $765,000 | 22.4% | 2.6% |
| RM ACTUAL MORTGAGE, INC. | $1,035,000 | $595,000 | -42.5% | 2.0% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $1,145,000 | $555,000 | -51.5% | 1.9% |
| PENTAGON FEDERAL CREDIT UNION | $460,000 | $555,000 | 20.7% | 1.9% |
| HOME MORTGAGE BANKERS CORP. | $340,000 | $505,000 | 48.5% | 1.7% |
| Rf Mortgage & Investment Corp | $95,000 | $425,000 | 347.4% | 1.4% |
| VIG MORTGAGE CORPORATION | $360,000 | n/a | 1.2% | |
| E.M.I. EQUITY MORTGAGE, INC. | $940,000 | $245,000 | -73.9% | 0.8% |
| Cooperativa de Ahorro y Credito Jesus Obrero | $110,000 | $225,000 | 104.5% | 0.8% |
| TRUST MORTGAGE, CORP | $380,000 | $215,000 | -43.4% | 0.7% |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | $185,000 | n/a | 0.6% | |
| Cooperativa A/C de Arecibo | $160,000 | n/a | 0.5% | |
| EVERETT FINANCIAL, INC. | $155,000 | n/a | 0.5% | |
| Cooperativa De Ahorro Y Credito La Aiboniteña | $15,000 | $95,000 | 533.3% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $115,000 | $85,000 | -26.1% | 0.3% |
| The Lending Center Corporation | $125,000 | $85,000 | -32.0% | 0.3% |
| Capital Mortgage Services Corp. | $85,000 | $75,000 | -11.8% | 0.3% |
| Equity Prime Mortgage LLC | $1,480,000 | $75,000 | -94.9% | 0.3% |
| CARIBE FEDERAL CREDIT UNION | $65,000 | n/a | 0.2% | |
| Cooperativa A/C Oriental | $190,000 | $45,000 | -76.3% | 0.2% |
GUAYAMA's top lender by overall market share is Oriental Bank, with 23.0% market share. In second place, with 21.3%, is THE MONEY HOUSE INC., having originated $6,380,000 in loans. In third place, with 10.5%, is Banco Popular de Puerto Rico, having originated $3,140,000 in loans. In fourth place, with 7.3%, is FIRSTBANK PUERTO RICO, having originated $2,175,000 in loans. In fifth place, with 5.0%, is PREFERRED MORTGAGE CORPORATION, having originated $1,495,000 in loans.
GUAYAMA, PR Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 704 | Guayama, PR MSA | $390 | $390 | $450 | $600 | $600 |
| 714 | Guayama, PR MSA | $400 | $410 | $470 | $630 | $630 |
| 723 | Guayama, PR MSA | $380 | $400 | $460 | $640 | $780 |
| 784 | Guayama, PR MSA | $390 | $400 | $460 | $620 | $620 |
| 785 | Guayama, PR MSA | $390 | $390 | $450 | $600 | $600 |
2022 Average & Median Rent Data Statistics
GUAYAMA, PR average 1BR rent: $398, median: $400
GUAYAMA, PR average 2BR rent: $458, median: $460
GUAYAMA, PR average 3BR rent: $618, median: $620
GUAYAMA, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 218 | $27,070,000 | $124,174 |
| Cash Out Refi | 17 | $2,015,000 | $118,529 |
| Refi | 6 | $500,000 | $83,333 |
| Other | 3 | $305,000 | $101,667 |
Guayama's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 126 | $13,380,000 | $106,190 |
| 5-6% | 53 | $9,395,000 | $177,264 |
| 7-8% | 49 | $5,195,000 | $106,020 |
| Over 8% | 7 | $625,000 | $89,286 |
| 4-5% | 6 | $1,000,000 | $166,667 |
| 3-4% | 1 | $115,000 | $115,000 |
During 2023, Guayama's most frequently originated rate bucket was 6-7%, with 126 originations.
Loan Sizing (GUAYAMA, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 155 | $11,185,000 | $72,161 |
| $100k-200k | 73 | $9,595,000 | $131,438 |
| $200k-400k | 13 | $3,605,000 | $277,308 |
| $400k-600k | 2 | $940,000 | $470,000 |
| $Over $1MM | 1 | $4,565,000 | $4,565,000 |
GUAYAMA's loan sizing saw the bucket of loans from $100,000 or less with 155 originations, totaling $11,185,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 90 | $14,490,000 | $161,000 |
| 60-80% | 88 | $7,530,000 | $85,568 |
| 40-60% | 39 | $2,475,000 | $63,462 |
| Over 100% | 26 | $5,320,000 | $204,615 |
| 20-40% | 1 | $75,000 | $75,000 |
GUAYAMA's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 90 originations, totaling $14,490,000 in origination value.