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 7.47% for the week of 2023-11-22, compared to the national average of 7.29% for the same period.

The average rate for the prior week (2023-11-16) was 7.62% and one month ago for the week of 2023-10-19, the average rate was 8.01%.

Ponce's average rate one year ago was 6.59%.

For refis of the same type during the week of 2023-11-22, the average rate was 7.79%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-11-22 7.29%
Ponce 30 Year Fixed Rate 2023-11-22 7.47%
Ponce 30 Year Fixed Rate Refi 2023-11-22 7.79%
Ponce 15 Year Fixed Rate 2023-11-22 6.67%
Ponce 15 Year Fixed Rate Refi 2023-11-22 6.97%
Ponce 30 Year FHA 2023-11-22 -0.64%
Ponce 30 Year FHA Refi 2023-11-22 0.1%
Ponce 30 Year USDA 2023-11-22 -0.2%
Ponce 30 Year USDA Refi 2023-11-22 0.1%
Ponce 30 Year VA 2023-11-22 0.2%
Ponce 30 Year VA Refi 2023-11-22 0.1%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Banco Popular de Puerto Rico 53 5.87% $5,016
SUN WEST MORTGAGE COMPANY, INC. 23 5.81% $5,852
FIRSTBANK PUERTO RICO 16 5.38% $5,270
FIRST EQUITY MORTGAGE BANKERS, INC. 13 5.49% $5,854
PENTAGON FEDERAL CREDIT UNION 9 4.44% $5,940
Oriental Bank 9 5.19% $5,736
Cooperativa A/C de Arecibo 6 3.96% $9,996
Cooperativa de Ahorro y Credito de Rincon 4 5.75% $3,729
COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) 2 6.75% $3,338
Capital Mortgage Services Corp. 2 6.44% $4,791
MULTIPLES MORTGAGE CORPORATION 2 5.13% $12,586
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS 1 6.50% $3,762
METRO ISLAND MORTGAGE, INC. 1 7.75% $5,313
VIG MORTGAGE CORPORATION 1 4.75% $5,963
COOPERATIVA DE AHORRO Y CREDITO DE LARES 1 5.49% $3,383
Cooperativa A/C Oriental 1 7.75% $4,182
Senior Mortgage Bankers Inc 1 5.13% $6,765
CALCON MUTUAL MORTGAGE LLC 1 5.38% $7,788
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA 1 4.50% $7,847
The Lending Center Corporation 1 6.25% $6,131

PONCE Average Closing Costs & Other Stats

PONCE, PR's 20 lenders originated 617 loans during 2022. The total origination value was $76,615,000, with an average loan value of $124,173.

PONCE's average closing costs are $5,769.

The top PONCE lender as defined by loan originations is Banco Popular de Puerto Rico, with 53 loans originated. Their average total fees are $5,016, which is $835 lower than the next largest lender, SUN WEST MORTGAGE COMPANY, INC..

The lowest fee PONCE lenders (with over 10 loans originated) are Banco Popular de Puerto Rico ($5,016), FIRSTBANK PUERTO RICO ($5,270), SUN WEST MORTGAGE COMPANY, INC. ($5,852), FIRST EQUITY MORTGAGE BANKERS, INC. ($5,854) and .

The lowest rate PONCE lenders (with over 10 loans originated) are FIRSTBANK PUERTO RICO (5.38%), FIRST EQUITY MORTGAGE BANKERS, INC. (5.49%), SUN WEST MORTGAGE COMPANY, INC. (5.81%), Banco Popular de Puerto Rico (5.87%) 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Banco Popular de Puerto Rico $22,465,000 $16,925,000 -24.7% 22.1%
SUN WEST MORTGAGE COMPANY, INC. $20,515,000 $8,875,000 -56.7% 11.6%
FIRSTBANK PUERTO RICO $14,800,000 $8,340,000 -43.6% 10.9%
FIRST EQUITY MORTGAGE BANKERS, INC. $13,290,000 $7,800,000 -41.3% 10.2%
THE MONEY HOUSE INC. $13,335,000 $7,315,000 -45.1% 9.5%
Oriental Bank $11,585,000 $6,320,000 -45.4% 8.2%
PENTAGON FEDERAL CREDIT UNION $4,240,000 $4,975,000 17.3% 6.5%
METRO ISLAND MORTGAGE, INC. $6,525,000 $3,215,000 -50.7% 4.2%
RM ACTUAL MORTGAGE, INC. $3,545,000 $2,095,000 -40.9% 2.7%
Senior Mortgage Bankers Inc $635,000 $1,840,000 189.8% 2.4%
PREFERRED MORTGAGE CORPORATION $1,765,000 $1,335,000 -24.4% 1.7%
Cooperativa A/C de Arecibo $575,000 $885,000 53.9% 1.2%
MULTIPLES MORTGAGE CORPORATION $960,000 $750,000 -21.9% 1.0%
VIG MORTGAGE CORPORATION $360,000 $680,000 88.9% 0.9%
Baxter Credit Union $480,000 $675,000 40.6% 0.9%
HOME MORTGAGE BANKERS CORP. $305,000 $660,000 116.4% 0.9%
Capital Mortgage Services Corp. $490,000 $590,000 20.4% 0.8%
Cooperativa A/C Oriental $490,000 n/a 0.6%
Cooperativa de Ahorro y Credito de Rincon $125,000 $470,000 276.0% 0.6%
The Lending Center Corporation $965,000 $305,000 -68.4% 0.4%
COOPERATIVA DE CREDITO LA SAGRADA FAMILIA $195,000 n/a 0.3%
Cooperativa de A/C de Maunabo $165,000 n/a 0.2%
CALCON MUTUAL MORTGAGE LLC $85,000 $145,000 70.6% 0.2%
COOPERATIVA DE AHORRO Y CREDITO DE CAMUY $170,000 $145,000 -14.7% 0.2%
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA $140,000 n/a 0.2%
E.M.I. EQUITY MORTGAGE, INC. $335,000 $135,000 -59.7% 0.2%
Rf Mortgage & Investment Corp $250,000 $125,000 -50.0% 0.2%
COOPERATIVA DE AHORRO Y CREDITO DE LARES $65,000 $110,000 69.2% 0.1%
HR MORTGAGE CORP. $1,480,000 $105,000 -92.9% 0.1%
LATIN AMERICAN FINANCIAL CORPORATION $55,000 $95,000 72.7% 0.1%
TRUST MORTGAGE, CORP $1,190,000 $95,000 -92.0% 0.1%
COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) $480,000 $90,000 -81.3% 0.1%
CARIBE FEDERAL CREDIT UNION $590,000 $85,000 -85.6% 0.1%
Cooperativa De Ahorro Y Credito La Aiboniteña $75,000 n/a 0.1%
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS $55,000 n/a 0.1%
COOPERATIVA DE AHORRO Y CREDITO CAGUAS $25,000 n/a 0.0%

PONCE's top lender by overall market share is Banco Popular de Puerto Rico, with 22.1% market share. In second place, with 11.6%, is SUN WEST MORTGAGE COMPANY, INC., having originated $8,875,000 in loans. In third place, with 10.9%, is FIRSTBANK PUERTO RICO, having originated $8,340,000 in loans. In fourth place, with 10.2%, is FIRST EQUITY MORTGAGE BANKERS, INC., having originated $7,800,000 in loans. In fifth place, with 9.5%, is THE MONEY HOUSE INC., having originated $7,315,000 in loans.

PONCE, PR Average Rent (2023)

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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
00601 Ponce, PR $360 $370 $420 $600 $700
00624 Ponce, PR $360 $370 $420 $580 $670
00631 Ponce, PR $360 $370 $420 $550 $640
00641 Ponce, PR $380 $390 $450 $560 $660
00715 Ponce, PR $360 $370 $420 $600 $700
00716 Ponce, PR $460 $470 $530 $750 $870
00717 Ponce, PR $410 $420 $480 $680 $790
00720 Ponce, PR $400 $430 $510 $670 $820
00728 Ponce, PR $410 $410 $470 $670 $780
00730 Ponce, PR $390 $390 $450 $640 $740
00731 Ponce, PR $360 $370 $420 $600 $700
00732 Ponce, PR $410 $410 $470 $670 $780
00733 Ponce, PR $410 $410 $470 $670 $780
00766 Ponce, PR $360 $370 $420 $600 $690
00780 Ponce, PR $530 $540 $620 $880 $1,020
00795 Ponce, PR $380 $390 $440 $630 $730

2022 Average & Median Rent Data Statistics
PONCE, PR average 1BR rent: $405, median: $390
PONCE, PR average 2BR rent: $463, median: $450
PONCE, PR average 3BR rent: $647, median: $635

PONCE, PR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 511 $61,075,000 $119,521
Cash Out Refi 55 $6,025,000 $109,545
Refi 38 $8,210,000 $216,053
Other 9 $945,000 $105,000
Home Improvement 3 $285,000 $95,000
NA 1 $75,000 $75,000

Ponce's most frequently cited loan purpose was Home Purchase, with 511 originations. The 2nd most popular reason was Cash Out Refi, with 55 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 172 $25,160,000 $146,279
4-5% 145 $17,205,000 $118,655
3-4% 110 $13,270,000 $120,636
6-7% 109 $11,455,000 $105,092
2.5-3% 36 $4,850,000 $134,722
7-8% 20 $1,690,000 $84,500
<2.5% 16 $2,390,000 $149,375
Over 8% 8 $520,000 $65,000

During 2022, Ponce's most frequently originated rate bucket was 5-6%, with 172 originations.

Loan Sizing (PONCE, PR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 299 $21,945,000 $73,395
$100k-200k 260 $34,580,000 $133,000
$200k-400k 49 $12,555,000 $256,224
$400k-600k 8 $3,960,000 $495,000
$Over $1MM 1 $3,575,000 $3,575,000

PONCE's loan sizing saw the bucket of loans from $100,000 or less with 299 originations, totaling $21,945,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 328 $45,000,000 $137,195
60-80% 215 $25,445,000 $118,349
40-60% 59 $5,005,000 $84,831
20-40% 9 $345,000 $38,333
Over 100% 6 $820,000 $136,667

PONCE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 328 originations, totaling $45,000,000 in origination value.