MAYAGÜEZ Mortgage Rates

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

30 Year Fixed Rate mortgages in MayagÜez averaged 6.41% 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 6.52% and one month ago for the week of 2022-05-26, the average rate was 6.01%.

MayagÜez's average rate one year ago was 4.37%.

For refis of the same type during the week of 2022-06-30, the average rate was 5.78%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-30 5.7%
MayagÜez 30 Year Fixed Rate 2022-06-30 6.41%
MayagÜez 30 Year Fixed Rate Refi 2022-06-30 5.78%
MayagÜez 15 Year Fixed Rate 2022-06-30 6.27%
MayagÜez 15 Year Fixed Rate Refi 2022-06-30 5.13%
MayagÜez 30 Year FHA 2022-06-30 5.58%
MayagÜez 30 Year FHA Refi 2022-06-30 5.63%
MayagÜez 30 Year USDA 2022-06-30 5.43%
MayagÜez 30 Year USDA Refi 2022-06-30 3.1%
MayagÜez 30 Year VA 2022-06-30 5.97%
MayagÜez 30 Year VA Refi 2022-06-30 5.25%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within MAYAGÜEZ, PR.

MAYAGÜEZ 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 MAYAGÜEZ, 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 29 3.81% $4,101
Cooperativa de Ahorro y Credito de Rincon 16 5.75% $2,711
Oriental Bank 11 3.00% $4,399
Capital Mortgage Services Corp. 6 4.92% $13,787
FIRSTBANK PUERTO RICO 6 3.88% $3,429
COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO 5 4.55% $4,508
PENTAGON FEDERAL CREDIT UNION 4 2.78% $4,689
THE MONEY HOUSE INC. 4 3.75% $5,161
FIRST EQUITY MORTGAGE BANKERS, INC. 4 3.25% $9,133
SUN WEST MORTGAGE COMPANY, INC. 3 3.04% $6,194
LENDUS, LLC 2 3.25% $6,314
COOPERATIVA DE AHORRO Y CREDITO DE AGUADA 2 3.56% $4,586
METRO ISLAND MORTGAGE, INC. 1 3.75% $8,135
SAN RAFAEL COOP 1 4.75% $5,081
CALCON MUTUAL MORTGAGE LLC 1 4.50% $6,698
The Lending Center Corporation 1 3.63% $10,132
Baxter Credit Union 1 2.38% $2,738
TRUST MORTGAGE, CORP 1 3.00% $7,276

MAYAGÜEZ, PR's 18 lenders originated 349 loans during 2021. The total origination value was $44,445,000, with an average loan value of $127,350.

The top MAYAGÜEZ lender as defined by loan originations is Banco Popular de Puerto Rico, with 29 loans originated. Their average total fees are $4,101, which is $1,389 higher than the next largest lender, Cooperativa de Ahorro y Credito de Rincon.

The lowest fee MAYAGÜEZ lenders (with over 10 loans originated) are Cooperativa de Ahorro y Credito de Rincon ($2,711), Banco Popular de Puerto Rico ($4,101), Oriental Bank ($4,399), .

The lowest rate MAYAGÜEZ lenders (with over 10 loans originated) are Oriental Bank (3.00%), Banco Popular de Puerto Rico (3.81%), Cooperativa de Ahorro y Credito de Rincon (5.75%), .

MAYAGÜEZ, 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
Banco Popular de Puerto Rico $8,700,000 $10,315,000 18.6% 23.2%
Oriental Bank $2,755,000 $6,290,000 128.3% 14.2%
THE MONEY HOUSE INC. $2,005,000 $4,165,000 107.7% 9.4%
SUN WEST MORTGAGE COMPANY, INC. $620,000 $3,620,000 483.9% 8.1%
FIRSTBANK PUERTO RICO $3,930,000 $3,550,000 -9.7% 8.0%
Capital Mortgage Services Corp. $825,000 $3,215,000 289.7% 7.2%
FIRST EQUITY MORTGAGE BANKERS, INC. $440,000 $2,300,000 422.7% 5.2%
Cooperativa de Ahorro y Credito de Rincon $1,500,000 $2,285,000 52.3% 5.1%
PENTAGON FEDERAL CREDIT UNION $1,005,000 $2,080,000 107.0% 4.7%
COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO $1,165,000 n/a 2.6%
LENDUS, LLC $735,000 n/a 1.7%
Senior Mortgage Bankers Inc $180,000 $605,000 236.1% 1.4%
COOPERATIVA DE AHORRO Y CREDITO DE AGUADA $400,000 n/a 0.9%
LATIN AMERICAN FINANCIAL CORPORATION $255,000 $385,000 51.0% 0.9%
HR MORTGAGE CORP. $375,000 n/a 0.8%
The Lending Center Corporation $370,000 n/a 0.8%
METRO ISLAND MORTGAGE, INC. $65,000 $365,000 461.5% 0.8%
Equity Prime Mortgage LLC $320,000 n/a 0.7%
E.M.I. EQUITY MORTGAGE, INC. $615,000 $275,000 -55.3% 0.6%
PREFERRED MORTGAGE CORPORATION $410,000 $255,000 -37.8% 0.6%
Rf Mortgage & Investment Corp $250,000 n/a 0.6%
RM ACTUAL MORTGAGE, INC. $95,000 $240,000 152.6% 0.5%
Baxter Credit Union $185,000 $220,000 18.9% 0.5%
TRUST MORTGAGE, CORP $55,000 $200,000 263.6% 0.4%
CALCON MUTUAL MORTGAGE LLC $200,000 $155,000 -22.5% 0.3%
MULTIPLES MORTGAGE CORPORATION $370,000 $85,000 -77.0% 0.2%
VIG MORTGAGE CORPORATION $85,000 n/a 0.2%
HOME MORTGAGE BANKERS CORP. $85,000 $75,000 -11.8% 0.2%
SAN RAFAEL COOP $45,000 $65,000 44.4% 0.1%

MAYAGÜEZ's top lender by overall market share is Banco Popular de Puerto Rico, with 23.2% market share. In second place, with 14.2%, is Oriental Bank, having originated $6,290,000 in loans. In third place, with 9.4%, is THE MONEY HOUSE INC., having originated $4,165,000 in loans. In third place, with 8.1%, is SUN WEST MORTGAGE COMPANY, INC., having originated $3,620,000 in loans. In third place, with 8.0%, is FIRSTBANK PUERTO RICO, having originated $3,550,000 in loans.


MAYAGÜEZ, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 265 $33,975,000 $128,208
Cash Out Refi 42 $5,230,000 $124,524
Refi 39 $4,915,000 $126,026
Other 3 $325,000 $108,333

MayagÜez's most frequently cited loan purpose was Home Purchase, with 265 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 105 $12,985,000 $123,667
2.5-3% 99 $13,195,000 $133,283
<2.5% 70 $10,670,000 $152,429
4-5% 44 $5,310,000 $120,682
5-6% 16 $1,260,000 $78,750
6-7% 9 $665,000 $73,889
7-8% 6 $360,000 $60,000

During 2021, MayagÜez's most frequently originated rate bucket was 3-4%, with 105 originations.

Loan Sizing (MAYAGÜEZ, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 162 $11,510,000 $71,049
$100k-200k 137 $19,085,000 $139,307
$200k-400k 44 $11,160,000 $253,636
$400k-600k 6 $2,690,000 $448,333

MAYAGÜEZ's loan sizing saw the bucket of loans from $100,000 or less with 162 originations, totaling $11,510,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 213 $30,075,000 $141,197
60-80% 110 $11,780,000 $107,091
40-60% 17 $1,305,000 $76,765
20-40% 5 $375,000 $75,000
Over 100% 4 $910,000 $227,500

MAYAGÜEZ's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 213 originations, totaling $30,075,000 in origination value.