Santa Isabel Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Santa Isabel averaged
7.49%
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
7.44% and
one month ago for the week of 2023-10-19, the
average rate was 7.63%.
Santa Isabel's average rate one year ago was 6.71%.
For refis of the same type during the week of 2023-11-22, the average rate
was 7.49%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-11-22 | 7.29% |
| Santa Isabel 30 Year Fixed Rate | 2023-11-22 | 7.49% |
| Santa Isabel 30 Year Fixed Rate Refi | 2023-11-22 | 7.49% |
| Santa Isabel 15 Year Fixed Rate | 2023-11-22 | 6.77% |
| Santa Isabel 15 Year Fixed Rate Refi | 2023-11-22 | 6.97% |
| Santa Isabel 30 Year FHA | 2023-11-22 | -0.2% |
| Santa Isabel 30 Year FHA Refi | 2023-11-22 | 0.1% |
| Santa Isabel 30 Year USDA | 2023-11-22 | 0% |
| Santa Isabel 30 Year USDA Refi | 2023-11-22 | -0.1% |
| Santa Isabel 30 Year VA | 2023-11-22 | 0% |
| Santa Isabel 30 Year VA Refi | 2023-11-22 | -0.1% |
Santa Isabel 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 Santa Isabel, 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 | 7 | 5.77% | $5,722 |
| SUN WEST MORTGAGE COMPANY, INC. | 7 | 6.04% | $6,339 |
| PREFERRED MORTGAGE CORPORATION | 2 | 6.06% | $6,277 |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | 1 | 4.75% | $2,876 |
| FIRSTBANK PUERTO RICO | 1 | 7.13% | $6,135 |
Santa Isabel Average Closing Costs & Other Stats
Santa Isabel, PR's 5 lenders originated 100
loans during 2022. The total origination value was $11,760,000, with an average loan value of
$117,600.
Santa Isabel's average closing costs are $5,920.
The top Santa Isabel lender as defined by loan originations is Banco Popular de Puerto Rico, with
7 loans originated. Their average total fees are
$5,722, which is $617
lower than the next largest lender,
SUN WEST MORTGAGE COMPANY, INC..
The lowest fee Santa Isabel lenders (with over 10 loans originated) are
.
The lowest rate Santa Isabel lenders (with over 10 loans originated) are
.
Santa Isabel, 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 |
|---|---|---|---|---|
| SUN WEST MORTGAGE COMPANY, INC. | $4,575,000 | $2,560,000 | -44.0% | 21.8% |
| Banco Popular de Puerto Rico | $2,865,000 | $1,955,000 | -31.8% | 16.6% |
| THE MONEY HOUSE INC. | $1,295,000 | $1,105,000 | -14.7% | 9.4% |
| Oriental Bank | $1,045,000 | $1,060,000 | 1.4% | 9.0% |
| FIRSTBANK PUERTO RICO | $1,400,000 | $870,000 | -37.9% | 7.4% |
| HR MORTGAGE CORP. | $460,000 | $705,000 | 53.3% | 6.0% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $830,000 | $660,000 | -20.5% | 5.6% |
| VIG MORTGAGE CORPORATION | $170,000 | $510,000 | 200.0% | 4.3% |
| METRO ISLAND MORTGAGE, INC. | $2,015,000 | $470,000 | -76.7% | 4.0% |
| HOME MORTGAGE BANKERS CORP. | $435,000 | n/a | 3.7% | |
| PENTAGON FEDERAL CREDIT UNION | $455,000 | $385,000 | -15.4% | 3.3% |
| RM ACTUAL MORTGAGE, INC. | $365,000 | $285,000 | -21.9% | 2.4% |
| PREFERRED MORTGAGE CORPORATION | $385,000 | $245,000 | -36.4% | 2.1% |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | $360,000 | $215,000 | -40.3% | 1.8% |
| E.M.I. EQUITY MORTGAGE, INC. | $260,000 | $140,000 | -46.2% | 1.2% |
| Senior Mortgage Bankers Inc | $2,800,000 | $95,000 | -96.6% | 0.8% |
| TRUST MORTGAGE, CORP | $65,000 | n/a | 0.6% |
Santa Isabel's top lender by overall market share is SUN WEST MORTGAGE COMPANY, INC., with 21.8% market share. In second place, with 16.6%, is Banco Popular de Puerto Rico, having originated $1,955,000 in loans. In third place, with 9.4%, is THE MONEY HOUSE INC., having originated $1,105,000 in loans. In fourth place, with 9.0%, is Oriental Bank, having originated $1,060,000 in loans. In fifth place, with 7.4%, is FIRSTBANK PUERTO RICO, having originated $870,000 in loans.
Santa Isabel, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 84 | $9,700,000 | $115,476 |
| Refi | 9 | $1,045,000 | $116,111 |
| Cash Out Refi | 6 | $940,000 | $156,667 |
| Home Improvement | 1 | $75,000 | $75,000 |
Santa Isabel's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 9 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 31 | $3,725,000 | $120,161 |
| 6-7% | 23 | $2,335,000 | $101,522 |
| 4-5% | 22 | $2,910,000 | $132,273 |
| 3-4% | 14 | $1,880,000 | $134,286 |
| 7-8% | 4 | $430,000 | $107,500 |
| 2.5-3% | 4 | $340,000 | $85,000 |
| Over 8% | 1 | $55,000 | $55,000 |
| <2.5% | 1 | $85,000 | $85,000 |
During 2022, Santa Isabel's most frequently originated rate bucket was 5-6%, with 31 originations.
Loan Sizing (Santa Isabel, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 53 | $7,065,000 | $133,302 |
| $100,000 or less | 40 | $3,100,000 | $77,500 |
| $200k-400k | 7 | $1,595,000 | $227,857 |
Santa Isabel's loan sizing saw the bucket of loans from $100k-200k with 53 originations, totaling $7,065,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 62 | $8,120,000 | $130,968 |
| 60-80% | 27 | $2,765,000 | $102,407 |
| 40-60% | 8 | $500,000 | $62,500 |
| Over 100% | 3 | $375,000 | $125,000 |
Santa Isabel's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 62 originations, totaling $8,120,000 in origination value.