PONCE Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Ponce averaged 6.06% for the week of 2024-10-03, compared to the national average of 6.12% for the same period.

The average rate for the prior week (2024-09-26) was 6.02% and one month ago for the week of 2024-08-29, the average rate was 6.39%.

Ponce's average rate one year ago was 7.55%.

For refis of the same type during the week of 2024-10-03, the average rate was 6.72%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-03 6.12%
Ponce 30 Year Fixed Rate 2024-10-03 6.06%
Ponce 30 Year Fixed Rate Refi 2024-10-03 6.72%
Ponce 15 Year Fixed Rate 2024-10-03 5.05%
Ponce 15 Year Fixed Rate Refi 2024-10-03 5.85%
Ponce 30 Year FHA 2024-10-03 5.48%
Ponce 30 Year FHA Refi 2024-10-03 5.99%
Ponce 30 Year USDA 2024-10-03 5.97%
Ponce 30 Year USDA Refi 2024-10-03 5.97%
Ponce 30 Year VA 2024-10-03 5.5%
Ponce 30 Year VA Refi 2024-10-03 5.7%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within PONCE, PR.

PONCE 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 PONCE, 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 55 7.68% $5,033
FIRSTBANK PUERTO RICO 30 6.19% $4,339
SUN WEST MORTGAGE COMPANY, INC. 17 7.29% $6,139
Oriental Bank 13 6.43% $6,226
FIRST EQUITY MORTGAGE BANKERS, INC. 9 6.63% $6,240
THE MONEY HOUSE INC. 6 7.46% $7,192
Cooperativa A/C de Arecibo 5 4.85% $6,802
PENTAGON FEDERAL CREDIT UNION 4 6.41% $7,721
COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA 3 7.17% $5,411
COOPERATIVA DE AHORRO Y CREDITO DE CAMUY 2 6.85% $7,088
COOPERATIVA DE AHORRO Y CREDITO DE LARES 2 5.95% $3,805
Cooperativa de Ahorro y Credito de Rincon 2 6.38% $3,828
Cooperativa A/C Oriental 2 6.75% $5,863
METRO ISLAND MORTGAGE, INC. 2 7.83% $13,776
Capital Mortgage Services Corp. 2 7.56% $6,204
Equity Prime Mortgage LLC 1 7.00% $18,161
COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA 1 7.13% $7,889
PLANET HOME LENDING, LLC 1 7.75% $11,958
Cooperativa de A/C de Maunabo 1 6.55% $6,127
RM ACTUAL MORTGAGE, INC. 1 8.50% $7,215
Baxter Credit Union 1 6.38% $5,280

PONCE Average Closing Costs & Other Stats

PONCE, PR's 21 lenders originated 579 loans during 2023. The total origination value was $72,305,000, with an average loan value of $124,879.

PONCE's average closing costs are $6,036.

The top PONCE lender as defined by loan originations is Banco Popular de Puerto Rico, with 55 loans originated. Their average total fees are $5,033, which is $694 higher than the next largest lender, FIRSTBANK PUERTO RICO.

The lowest fee PONCE lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO ($4,339), Banco Popular de Puerto Rico ($5,033), SUN WEST MORTGAGE COMPANY, INC. ($6,139), Oriental Bank ($6,226) and .

The lowest rate PONCE lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO (6.19%), Oriental Bank (6.43%), SUN WEST MORTGAGE COMPANY, INC. (7.29%), Banco Popular de Puerto Rico (7.68%) and .

PONCE, 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. $7,315,000 $13,345,000 82.4% 18.5%
Banco Popular de Puerto Rico $16,925,000 $13,065,000 -22.8% 18.1%
SUN WEST MORTGAGE COMPANY, INC. $8,875,000 $9,685,000 9.1% 13.4%
Oriental Bank $6,320,000 $8,210,000 29.9% 11.4%
FIRST EQUITY MORTGAGE BANKERS, INC. $7,800,000 $7,170,000 -8.1% 9.9%
FIRSTBANK PUERTO RICO $8,340,000 $7,005,000 -16.0% 9.7%
RM ACTUAL MORTGAGE, INC. $2,095,000 $3,295,000 57.3% 4.6%
HOME MORTGAGE BANKERS CORP. $660,000 $1,425,000 115.9% 2.0%
METRO ISLAND MORTGAGE, INC. $3,215,000 $1,410,000 -56.1% 2.0%
PENTAGON FEDERAL CREDIT UNION $4,975,000 $1,285,000 -74.2% 1.8%
VIG MORTGAGE CORPORATION $680,000 $695,000 2.2% 1.0%
Senior Mortgage Bankers Inc $1,840,000 $675,000 -63.3% 0.9%
Cooperativa A/C de Arecibo $885,000 $490,000 -44.6% 0.7%
TRUST MORTGAGE, CORP $95,000 $470,000 394.7% 0.7%
COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA $445,000 n/a 0.6%
PREFERRED MORTGAGE CORPORATION $1,335,000 $440,000 -67.0% 0.6%
Equity Prime Mortgage LLC $405,000 n/a 0.6%
COOPERATIVA DE AHORRO Y CREDITO DE CAMUY $145,000 $300,000 106.9% 0.4%
COOPERATIVA DE AHORRO Y CREDITO DE ISABELA $290,000 n/a 0.4%
Rf Mortgage & Investment Corp $125,000 $215,000 72.0% 0.3%
EVERETT FINANCIAL, INC. $205,000 n/a 0.3%
PLANET HOME LENDING, LLC $205,000 n/a 0.3%
Capital Mortgage Services Corp. $590,000 $200,000 -66.1% 0.3%
Baxter Credit Union $675,000 $190,000 -71.9% 0.3%
Cooperativa A/C Oriental $490,000 $190,000 -61.2% 0.3%
Cooperativa de Ahorro y Credito de Rincon $470,000 $180,000 -61.7% 0.2%
Cooperativa de A/C de Maunabo $165,000 $125,000 -24.2% 0.2%
SAN RAFAEL COOP $115,000 n/a 0.2%
COOPERATIVA DE AHORRO Y CREDITO DE LARES $110,000 $110,000 0.0% 0.2%
MULTIPLES MORTGAGE CORPORATION $750,000 $95,000 -87.3% 0.1%
HR MORTGAGE CORP. $105,000 $90,000 -14.3% 0.1%
E.M.I. EQUITY MORTGAGE, INC. $135,000 $75,000 -44.4% 0.1%
CARIBE FEDERAL CREDIT UNION $85,000 $65,000 -23.5% 0.1%
COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA $65,000 n/a 0.1%

PONCE's top lender by overall market share is THE MONEY HOUSE INC., with 18.5% market share. In second place, with 18.1%, is Banco Popular de Puerto Rico, having originated $13,065,000 in loans. In third place, with 13.4%, is SUN WEST MORTGAGE COMPANY, INC., having originated $9,685,000 in loans. In fourth place, with 11.4%, is Oriental Bank, having originated $8,210,000 in loans. In fifth place, with 9.9%, is FIRST EQUITY MORTGAGE BANKERS, INC., having originated $7,170,000 in loans.

PONCE, PR Average Rent (2023)

Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
601 Ponce, PR MSA $380 $390 $440 $640 $710
624 Ponce, PR MSA $380 $390 $440 $610 $680
631 Ponce, PR MSA $360 $390 $440 $590 $680
641 Ponce, PR MSA $380 $420 $480 $590 $680
715 Ponce, PR MSA $380 $390 $440 $640 $710
716 Ponce, PR MSA $480 $490 $550 $780 $870
717 Ponce, PR MSA $430 $440 $500 $700 $790
720 Ponce, PR MSA $390 $420 $490 $650 $790
728 Ponce, PR MSA $410 $420 $470 $660 $740
730 Ponce, PR MSA $430 $440 $500 $700 $790
731 Ponce, PR MSA $400 $410 $460 $650 $730
732 Ponce, PR MSA $430 $440 $500 $700 $790
733 Ponce, PR MSA $430 $440 $500 $700 $790
766 Ponce, PR MSA $380 $390 $440 $640 $710
780 Ponce, PR MSA $600 $610 $690 $970 $1,090
795 Ponce, PR MSA $420 $430 $490 $690 $780

2022 Average & Median Rent Data Statistics
PONCE, PR average 1BR rent: $432, median: $420
PONCE, PR average 2BR rent: $489, median: $485
PONCE, PR average 3BR rent: $682, median: $655

PONCE, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 530 $66,310,000 $125,113
Cash Out Refi 30 $3,730,000 $124,333
Refi 8 $1,140,000 $142,500
Home Improvement 7 $625,000 $89,286
Other 4 $500,000 $125,000

Ponce's most frequently cited loan purpose was Home Purchase, with 530 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 327 $41,255,000 $126,162
5-6% 120 $14,220,000 $118,500
7-8% 83 $9,605,000 $115,723
4-5% 23 $5,385,000 $234,130
Over 8% 22 $1,400,000 $63,636
3-4% 4 $440,000 $110,000

During 2023, Ponce's most frequently originated rate bucket was 6-7%, with 327 originations.

Loan Sizing (PONCE, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 296 $20,930,000 $70,709
$100k-200k 210 $28,020,000 $133,429
$200k-400k 58 $15,640,000 $269,655
$400k-600k 12 $5,660,000 $471,667
$600k-1000k 3 $2,055,000 $685,000

PONCE's loan sizing saw the bucket of loans from $100,000 or less with 296 originations, totaling $20,930,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 244 $37,940,000 $155,492
60-80% 217 $20,635,000 $95,092
40-60% 61 $3,385,000 $55,492
Over 100% 41 $9,465,000 $230,854
20-40% 15 $865,000 $57,667
Under 20% 1 $15,000 $15,000

PONCE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 244 originations, totaling $37,940,000 in origination value.