SAN GERMÁN Mortgage Rates
30 Year Fixed Rate mortgages in San GermÁn averaged
6.57%
for the week of 2022-06-23, compared to the national average of
5.81% for the same period.
The average rate for the prior week (2022-06-16) was
6.94% and
one month ago for the week of 2022-05-19, the
average rate was 6.41%.
San GermÁn's average rate one year ago was 4.28%.
For refis of the same type during the week of 2022-06-23, the average rate
was 6.15%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
| San GermÁn 30 Year Fixed Rate | 2022-06-23 | 6.57% |
| San GermÁn 30 Year Fixed Rate Refi | 2022-06-23 | 6.15% |
| San GermÁn 15 Year Fixed Rate | 2022-06-23 | 6.35% |
| San GermÁn 15 Year Fixed Rate Refi | 2022-06-23 | 4.93% |
| San GermÁn 30 Year FHA | 2022-06-23 | -0.24% |
| San GermÁn 30 Year FHA Refi | 2022-06-23 | -0.06% |
| San GermÁn 30 Year USDA | 2022-06-23 | -0.13% |
| San GermÁn 30 Year USDA Refi | 2022-06-23 | -0.36% |
| San GermÁn 30 Year VA | 2022-06-23 | 0.23% |
| San GermÁn 30 Year VA Refi | 2022-06-23 | -0.04% |
SAN GERMÁN 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 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, PR's 24 lenders originated 752
loans during 2021. The total origination value was $96,650,000, with an average loan value of
$128,524.
The top SAN GERMÁN lender as defined by loan originations is Banco Popular de Puerto Rico, with
69 loans originated. Their average total fees are
$4,507, which is $569
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 ($3,938), Banco Popular de Puerto Rico ($4,507), Oriental Bank ($4,748), FIRSTBANK PUERTO RICO ($4,891) and Capital Mortgage Services Corp. ($6,933).
The lowest rate SAN GERMÁN lenders (with over 10 loans originated) are
Oriental Bank (3.28%), FIRSTBANK PUERTO RICO (3.60%), Banco Popular de Puerto Rico (3.71%), COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO (4.27%) and Capital Mortgage Services Corp. (5.15%).
SAN GERMÁN, 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.
SAN GERMÁN's top lender by overall market share is Banco Popular de Puerto Rico, with 28.9% market share. In second place, with 10.8%, is Oriental Bank, having originated $10,470,000 in loans. In third place, with 9.5%, is FIRSTBANK PUERTO RICO, having originated $9,215,000 in loans. In third place, with 7.7%, is SUN WEST MORTGAGE COMPANY, INC., having originated $7,465,000 in loans. In third place, with 6.6%, is Cooperativa de Ahorro y Credito de Rincon, having originated $6,345,000 in loans.
SAN GERMÁN, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 550 | $69,370,000 | $126,127 |
| Refi | 97 | $14,255,000 | $146,959 |
| Cash Out Refi | 96 | $12,120,000 | $126,250 |
| Other | 8 | $800,000 | $100,000 |
| Home Improvement | 1 | $105,000 | $105,000 |
San GermÁn's most frequently cited loan purpose was Home Purchase, with 550 originations. The 2nd most popular reason was Refi, with 97 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 213 | $27,555,000 | $129,366 |
| 2.5-3% | 211 | $27,105,000 | $128,460 |
| <2.5% | 171 | $23,915,000 | $139,854 |
| 4-5% | 97 | $11,455,000 | $118,093 |
| 5-6% | 31 | $3,515,000 | $113,387 |
| 6-7% | 16 | $1,650,000 | $103,125 |
| 7-8% | 11 | $1,215,000 | $110,455 |
During 2021, San GermÁn's most frequently originated rate bucket was 3-4%, with 213 originations.
Loan Sizing (SAN GERMÁN, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 413 | $56,115,000 | $135,872 |
| $100,000 or less | 274 | $21,000,000 | $76,642 |
| $200k-400k | 59 | $15,015,000 | $254,492 |
| $400k-600k | 4 | $2,060,000 | $515,000 |
| $600k-1000k | 1 | $605,000 | $605,000 |
| $Over $1MM | 1 | $1,855,000 | $1,855,000 |
SAN GERMÁN's loan sizing saw the bucket of loans from $100k-200k with 413 originations, totaling $56,115,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 463 | $62,835,000 | $135,713 |
| 60-80% | 228 | $27,100,000 | $118,860 |
| 40-60% | 36 | $4,120,000 | $114,444 |
| Over 100% | 9 | $1,115,000 | $123,889 |
| 20-40% | 8 | $480,000 | $60,000 |
SAN GERMÁN's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 463 originations, totaling $62,835,000 in origination value.
