Santa Isabel Mortgage Rates
30 Year Fixed Rate mortgages in Santa Isabel averaged
6.43%
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
6.1% and
one month ago for the week of 2022-05-19, the
average rate was 5.77%.
Santa Isabel's average rate one year ago was 4.05%.
For refis of the same type during the week of 2022-06-23, the average rate
was 5.71%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
| Santa Isabel 30 Year Fixed Rate | 2022-06-23 | 6.43% |
| Santa Isabel 30 Year Fixed Rate Refi | 2022-06-23 | 5.71% |
| Santa Isabel 15 Year Fixed Rate | 2022-06-23 | 4.99% |
| Santa Isabel 15 Year Fixed Rate Refi | 2022-06-23 | 4.69% |
| Santa Isabel 30 Year FHA | 2022-06-23 | 0% |
| Santa Isabel 30 Year FHA Refi | 2022-06-23 | -0.42% |
| Santa Isabel 30 Year USDA | 2022-06-23 | 0.3% |
| Santa Isabel 30 Year USDA Refi | 2022-06-23 | -0.46% |
| Santa Isabel 30 Year VA | 2022-06-23 | 0.53% |
| Santa Isabel 30 Year VA Refi | 2022-06-23 | 0.05% |
Santa Isabel 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 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 | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| Banco Popular de Puerto Rico | 5 | 3.10% | $2,951 |
| SUN WEST MORTGAGE COMPANY, INC. | 3 | 3.37% | $6,653 |
| FIRSTBANK PUERTO RICO | 2 | 2.81% | $6,233 |
| Senior Mortgage Bankers Inc | 2 | 4.13% | $6,703 |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | 2 | 5.63% | $4,128 |
| Oriental Bank | 1 | 2.88% | $4,278 |
| PENTAGON FEDERAL CREDIT UNION | 1 | 2.88% | $4,984 |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | 1 | 3.95% | $14,197 |
| FIRST EQUITY MORTGAGE BANKERS, INC. | 1 | 5.88% | $7,720 |
| METRO ISLAND MORTGAGE, INC. | 1 | 6.50% | $5,973 |
Santa Isabel, PR's 10 lenders originated 160
loans during 2021. The total origination value was $20,380,000, with an average loan value of
$127,375.
The top Santa Isabel lender as defined by loan originations is Banco Popular de Puerto Rico, with
5 loans originated. Their average total fees are
$2,951, which is $3,702
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 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.
| Name | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| SUN WEST MORTGAGE COMPANY, INC. | $3,910,000 | $4,575,000 | 17.0% | 22.4% |
| Banco Popular de Puerto Rico | $3,185,000 | $2,865,000 | -10.0% | 14.1% |
| Senior Mortgage Bankers Inc | $1,585,000 | $2,800,000 | 76.7% | 13.7% |
| METRO ISLAND MORTGAGE, INC. | $515,000 | $2,015,000 | 291.3% | 9.9% |
| FIRSTBANK PUERTO RICO | $1,360,000 | $1,400,000 | 2.9% | 6.9% |
| THE MONEY HOUSE INC. | $1,170,000 | $1,295,000 | 10.7% | 6.4% |
| Oriental Bank | $805,000 | $1,045,000 | 29.8% | 5.1% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $355,000 | $830,000 | 133.8% | 4.1% |
| HR MORTGAGE CORP. | $115,000 | $460,000 | 300.0% | 2.3% |
| PENTAGON FEDERAL CREDIT UNION | $165,000 | $455,000 | 175.8% | 2.2% |
| PREFERRED MORTGAGE CORPORATION | $190,000 | $385,000 | 102.6% | 1.9% |
| The Lending Center Corporation | $380,000 | n/a | 1.9% | |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | $375,000 | n/a | 1.8% | |
| RM ACTUAL MORTGAGE, INC. | $380,000 | $365,000 | -3.9% | 1.8% |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | $280,000 | $360,000 | 28.6% | 1.8% |
| E.M.I. EQUITY MORTGAGE, INC. | $115,000 | $260,000 | 126.1% | 1.3% |
| VIG MORTGAGE CORPORATION | $1,840,000 | $170,000 | -90.8% | 0.8% |
| Cooperativa de Ahorro y Credito de Rincon | $155,000 | n/a | 0.8% | |
| Cooperativa A/C de Arecibo | $105,000 | n/a | 0.5% | |
| LATIN AMERICAN FINANCIAL CORPORATION | $85,000 | n/a | 0.4% |
Santa Isabel's top lender by overall market share is SUN WEST MORTGAGE COMPANY, INC., with 22.4% market share. In second place, with 14.1%, is Banco Popular de Puerto Rico, having originated $2,865,000 in loans. In third place, with 13.7%, is Senior Mortgage Bankers Inc, having originated $2,800,000 in loans. In third place, with 9.9%, is METRO ISLAND MORTGAGE, INC., having originated $2,015,000 in loans. In third place, with 6.9%, is FIRSTBANK PUERTO RICO, having originated $1,400,000 in loans.
Santa Isabel, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 121 | $16,255,000 | $134,339 |
| Refi | 22 | $2,310,000 | $105,000 |
| Cash Out Refi | 17 | $1,815,000 | $106,765 |
Santa Isabel's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 22 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 68 | $9,260,000 | $136,176 |
| 3-4% | 58 | $7,270,000 | $125,345 |
| <2.5% | 24 | $2,870,000 | $119,583 |
| 4-5% | 6 | $590,000 | $98,333 |
| 5-6% | 2 | $220,000 | $110,000 |
| 6-7% | 2 | $170,000 | $85,000 |
During 2021, Santa Isabel's most frequently originated rate bucket was 2.5-3%, with 68 originations.
Loan Sizing (Santa Isabel, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 95 | $14,185,000 | $149,316 |
| $100,000 or less | 60 | $4,920,000 | $82,000 |
| $200k-400k | 5 | $1,275,000 | $255,000 |
Santa Isabel's loan sizing saw the bucket of loans from $100k-200k with 95 originations, totaling $14,185,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 119 | $16,135,000 | $135,588 |
| 60-80% | 30 | $2,820,000 | $94,000 |
| Over 100% | 5 | $725,000 | $145,000 |
| 40-60% | 3 | $355,000 | $118,333 |
Santa Isabel's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 119 originations, totaling $16,135,000 in origination value.
