SAN GERMÁN Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in San GermÁn averaged
7.77%
for the week of 2023-03-23, compared to the national average of
6.42% for the same period.
The average rate for the prior week (2023-03-16) was
7.75% and
one month ago for the week of 2023-02-16, the
average rate was 7.37%.
San GermÁn's average rate one year ago was 4.48%.
For refis of the same type during the week of 2023-03-23, the average rate
was 7.28%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-03-23 | 6.42% |
| San GermÁn 30 Year Fixed Rate | 2023-03-23 | 7.77% |
| San GermÁn 30 Year Fixed Rate Refi | 2023-03-23 | 7.28% |
| San GermÁn 15 Year Fixed Rate | 2023-03-23 | 7.31% |
| San GermÁn 15 Year Fixed Rate Refi | 2023-03-23 | 6% |
| San GermÁn 30 Year FHA | 2023-03-23 | 6.27% |
| San GermÁn 30 Year FHA Refi | 2023-03-23 | 6.15% |
| San GermÁn 30 Year USDA | 2023-03-23 | 6.26% |
| San GermÁn 30 Year USDA Refi | 2023-03-23 | 5.98% |
| San GermÁn 30 Year VA | 2023-03-23 | 5.92% |
| San GermÁn 30 Year VA Refi | 2023-03-23 | 6.04% |
SAN GERMÁN 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 SAN GERMÁN, 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.).
SAN GERMÁN Average Closing Costs & Other Stats
SAN GERMÁN, PR's 28 lenders originated 498
loans during 2022. The total origination value was $65,910,000, with an average loan value of
$132,349.
SAN GERMÁN's average closing costs are $5,584.
The top SAN GERMÁN lender as defined by loan originations is Banco Popular de Puerto Rico, with
60 loans originated. Their average total fees are
$5,809, which is $1,789
higher than the next largest lender,
Cooperativa de Ahorro y Credito de Rincon.
The lowest fee SAN GERMÁN lenders (with over 10 loans originated) are
Cooperativa de Ahorro y Credito de Rincon ($4,020), FIRSTBANK PUERTO RICO ($4,692), Oriental Bank ($4,712), Banco Popular de Puerto Rico ($5,809) and FIRST EQUITY MORTGAGE BANKERS, INC. ($8,007).
The lowest rate SAN GERMÁN lenders (with over 10 loans originated) are
Oriental Bank (4.71%), Banco Popular de Puerto Rico (5.43%), FIRST EQUITY MORTGAGE BANKERS, INC. (5.53%), FIRSTBANK PUERTO RICO (5.58%) and Cooperativa de Ahorro y Credito de Rincon (5.79%).
SAN GERMÁN, 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 | $27,925,000 | $19,065,000 | -31.7% | 28.9% |
| FIRSTBANK PUERTO RICO | $9,215,000 | $7,640,000 | -17.1% | 11.6% |
| Oriental Bank | $10,470,000 | $6,375,000 | -39.1% | 9.7% |
| Cooperativa de Ahorro y Credito de Rincon | $6,345,000 | $5,695,000 | -10.2% | 8.6% |
| SUN WEST MORTGAGE COMPANY, INC. | $7,465,000 | $3,735,000 | -50.0% | 5.7% |
| THE MONEY HOUSE INC. | $5,610,000 | $3,465,000 | -38.2% | 5.3% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $3,350,000 | $2,805,000 | -16.3% | 4.3% |
| PREFERRED MORTGAGE CORPORATION | $1,195,000 | $2,225,000 | 86.2% | 3.4% |
| Capital Mortgage Services Corp. | $5,080,000 | $2,120,000 | -58.3% | 3.2% |
| PENTAGON FEDERAL CREDIT UNION | $2,585,000 | $1,710,000 | -33.8% | 2.6% |
| Rf Mortgage & Investment Corp | $550,000 | $1,080,000 | 96.4% | 1.6% |
| SAN RAFAEL COOP | $515,000 | $915,000 | 77.7% | 1.4% |
| Equity Prime Mortgage LLC | $775,000 | $835,000 | 7.7% | 1.3% |
| METRO ISLAND MORTGAGE, INC. | $775,000 | $810,000 | 4.5% | 1.2% |
| TRUST MORTGAGE, CORP | $1,755,000 | $780,000 | -55.6% | 1.2% |
| Baxter Credit Union | $670,000 | $635,000 | -5.2% | 1.0% |
| Senior Mortgage Bankers Inc | $200,000 | $600,000 | 200.0% | 0.9% |
| MULTIPLES MORTGAGE CORPORATION | $535,000 | n/a | 0.8% | |
| CALCON MUTUAL MORTGAGE LLC | $645,000 | $530,000 | -17.8% | 0.8% |
| HOME MORTGAGE BANKERS CORP. | $180,000 | $415,000 | 130.6% | 0.6% |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | $125,000 | $405,000 | 224.0% | 0.6% |
| E.M.I. EQUITY MORTGAGE, INC. | $1,065,000 | $395,000 | -62.9% | 0.6% |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | $465,000 | $345,000 | -25.8% | 0.5% |
| Cooperativa de Ahoro y Crédito Bo. Quebrada de Camuy, P.R. | $240,000 | $290,000 | 20.8% | 0.4% |
| COOPERATIVA DE AHORRO Y CREDITO DE ISABELA | $240,000 | $290,000 | 20.8% | 0.4% |
| VIG MORTGAGE CORPORATION | $165,000 | $265,000 | 60.6% | 0.4% |
| A&D Mortgage LLC | $260,000 | n/a | 0.4% | |
| Cooperativa De Credito Y Ahorro San Jose | $55,000 | $245,000 | 345.5% | 0.4% |
| HR MORTGAGE CORP. | $505,000 | $180,000 | -64.4% | 0.3% |
| RM ACTUAL MORTGAGE, INC. | $170,000 | $180,000 | 5.9% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $145,000 | n/a | 0.2% | |
| Cooperativa A/C Oriental | $125,000 | n/a | 0.2% | |
| Cooperativa A/C de Arecibo | $120,000 | n/a | 0.2% | |
| COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA | $115,000 | n/a | 0.2% | |
| CARIBE FEDERAL CREDIT UNION | $340,000 | $105,000 | -69.1% | 0.2% |
| Cooperativa de A/C de Maunabo | $630,000 | $105,000 | -83.3% | 0.2% |
| Cooperativa De Ahorro Y Credito La Aiboniteña | $155,000 | $105,000 | -32.3% | 0.2% |
| COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA | $345,000 | $85,000 | -75.4% | 0.1% |
| COOPERATIVA DE AHORRO Y CREDITO DE LARES | $85,000 | $75,000 | -11.8% | 0.1% |
SAN GERMÁN's top lender by overall market share is Banco Popular de Puerto Rico, with 28.9% market share. In second place, with 11.6%, is FIRSTBANK PUERTO RICO, having originated $7,640,000 in loans. In third place, with 9.7%, is Oriental Bank, having originated $6,375,000 in loans. In fourth place, with 8.6%, is Cooperativa de Ahorro y Credito de Rincon, having originated $5,695,000 in loans. In fifth place, with 5.7%, is SUN WEST MORTGAGE COMPANY, INC., having originated $3,735,000 in loans.
SAN GERMÁN, 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 |
|---|---|---|---|---|---|---|
| 00606 | San German, PR | $370 | $390 | $440 | $590 | $650 |
| 00622 | San German, PR | $390 | $420 | $480 | $640 | $760 |
| 00623 | San German, PR | $380 | $390 | $450 | $580 | $770 |
| 00637 | San German, PR | $380 | $400 | $460 | $620 | $730 |
| 00647 | San German, PR | $370 | $390 | $440 | $600 | $670 |
| 00667 | San German, PR | $350 | $380 | $430 | $580 | $680 |
| 00680 | San German, PR | $390 | $390 | $450 | $560 | $770 |
| 00683 | San German, PR | $380 | $390 | $450 | $580 | $770 |
| 00698 | San German, PR | $360 | $370 | $420 | $570 | $650 |
2022 Average & Median Rent Data Statistics
SAN GERMÁN, PR average 1BR rent: $391, median: $390
SAN GERMÁN, PR average 2BR rent: $447, median: $450
SAN GERMÁN, PR average 3BR rent: $591, median: $580
SAN GERMÁN, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 433 | $58,175,000 | $134,353 |
| Cash Out Refi | 43 | $5,615,000 | $130,581 |
| Refi | 19 | $1,885,000 | $99,211 |
| Other | 2 | $130,000 | $65,000 |
| Home Improvement | 1 | $105,000 | $105,000 |
San GermÁn's most frequently cited loan purpose was Home Purchase, with 433 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 144 | $21,020,000 | $145,972 |
| 4-5% | 139 | $17,845,000 | $128,381 |
| 3-4% | 89 | $11,575,000 | $130,056 |
| 6-7% | 71 | $8,485,000 | $119,507 |
| 2.5-3% | 24 | $3,510,000 | $146,250 |
| 7-8% | 19 | $1,975,000 | $103,947 |
| <2.5% | 7 | $845,000 | $120,714 |
| Over 8% | 2 | $200,000 | $100,000 |
During 2022, San GermÁn's most frequently originated rate bucket was 5-6%, with 144 originations.
Loan Sizing (SAN GERMÁN, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 292 | $40,340,000 | $138,151 |
| $100,000 or less | 157 | $11,625,000 | $74,045 |
| $200k-400k | 44 | $11,290,000 | $256,591 |
| $400k-600k | 3 | $1,365,000 | $455,000 |
| $600k-1000k | 2 | $1,290,000 | $645,000 |
SAN GERMÁN's loan sizing saw the bucket of loans from $100k-200k with 292 originations, totaling $40,340,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 297 | $42,525,000 | $143,182 |
| 60-80% | 157 | $18,285,000 | $116,465 |
| 40-60% | 26 | $1,930,000 | $74,231 |
| Over 100% | 9 | $2,325,000 | $258,333 |
| 20-40% | 6 | $390,000 | $65,000 |
SAN GERMÁN's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 297 originations, totaling $42,525,000 in origination value.