YAUCO Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Yauco averaged
7.38%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7.32% and
one month ago for the week of 2023-08-10, the
average rate was 6.76%.
Yauco's average rate one year ago was 5.89%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.18%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Yauco 30 Year Fixed Rate | 2023-09-14 | 7.38% |
| Yauco 30 Year Fixed Rate Refi | 2023-09-14 | 7.18% |
| Yauco 15 Year Fixed Rate | 2023-09-14 | 6.51% |
| Yauco 15 Year Fixed Rate Refi | 2023-09-14 | 6.41% |
| Yauco 30 Year FHA | 2023-09-14 | 6.79% |
| Yauco 30 Year FHA Refi | 2023-09-14 | 7.19% |
| Yauco 30 Year USDA | 2023-09-14 | 7.18% |
| Yauco 30 Year USDA Refi | 2023-09-14 | 6.88% |
| Yauco 30 Year VA | 2023-09-14 | 6.91% |
| Yauco 30 Year VA Refi | 2023-09-14 | 7.01% |
YAUCO 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 YAUCO, 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 | 8 | 5.52% | $4,794 |
| FIRSTBANK PUERTO RICO | 7 | 5.18% | $3,455 |
| Cooperativa de Ahorro y Credito de Rincon | 5 | 6.25% | $4,568 |
| PENTAGON FEDERAL CREDIT UNION | 4 | 4.50% | $5,557 |
| Oriental Bank | 3 | 5.13% | $4,682 |
| SUN WEST MORTGAGE COMPANY, INC. | 2 | 6.88% | $5,726 |
| The Lending Center Corporation | 1 | 7.13% | $7,491 |
| CARIBE FEDERAL CREDIT UNION | 1 | 6.50% | $4,272 |
| Cooperativa A/C de Arecibo | 1 | 3.75% | $8,786 |
| FIRST EQUITY MORTGAGE BANKERS, INC. | 1 | 6.50% | $14,950 |
YAUCO Average Closing Costs & Other Stats
YAUCO, PR's 10 lenders originated 155
loans during 2022. The total origination value was $16,115,000, with an average loan value of
$103,968.
YAUCO's average closing costs are $5,243.
The top YAUCO lender as defined by loan originations is Banco Popular de Puerto Rico, with
8 loans originated. Their average total fees are
$4,794, which is $1,339
higher than the next largest lender,
FIRSTBANK PUERTO RICO.
The lowest fee YAUCO lenders (with over 10 loans originated) are
.
The lowest rate YAUCO lenders (with over 10 loans originated) are
.
YAUCO, 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 |
|---|---|---|---|---|
| Oriental Bank | $3,430,000 | $2,650,000 | -22.7% | 16.4% |
| Banco Popular de Puerto Rico | $3,790,000 | $2,575,000 | -32.1% | 16.0% |
| THE MONEY HOUSE INC. | $1,940,000 | $2,215,000 | 14.2% | 13.7% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $1,470,000 | $1,660,000 | 12.9% | 10.3% |
| FIRSTBANK PUERTO RICO | $3,145,000 | $1,400,000 | -55.5% | 8.7% |
| SUN WEST MORTGAGE COMPANY, INC. | $2,940,000 | $1,275,000 | -56.6% | 7.9% |
| PENTAGON FEDERAL CREDIT UNION | $720,000 | $1,160,000 | 61.1% | 7.2% |
| Cooperativa de Ahorro y Credito de Rincon | $250,000 | $655,000 | 162.0% | 4.1% |
| PREFERRED MORTGAGE CORPORATION | $855,000 | $390,000 | -54.4% | 2.4% |
| METRO ISLAND MORTGAGE, INC. | $1,275,000 | $375,000 | -70.6% | 2.3% |
| HR MORTGAGE CORP. | $115,000 | $305,000 | 165.2% | 1.9% |
| CARIBE FEDERAL CREDIT UNION | $65,000 | $285,000 | 338.5% | 1.8% |
| HOME MORTGAGE BANKERS CORP. | $165,000 | $200,000 | 21.2% | 1.2% |
| LATIN AMERICAN FINANCIAL CORPORATION | $145,000 | n/a | 0.9% | |
| Cooperativa A/C de Arecibo | $175,000 | $135,000 | -22.9% | 0.8% |
| TRUST MORTGAGE, CORP | $400,000 | $125,000 | -68.8% | 0.8% |
| The Lending Center Corporation | $290,000 | $115,000 | -60.3% | 0.7% |
| Equity Prime Mortgage LLC | $95,000 | $95,000 | 0.0% | 0.6% |
| VIG MORTGAGE CORPORATION | $95,000 | n/a | 0.6% | |
| E.M.I. EQUITY MORTGAGE, INC. | $155,000 | $85,000 | -45.2% | 0.5% |
| Cooperativa A/C Oriental | $75,000 | n/a | 0.5% | |
| PLANET HOME LENDING, LLC | $65,000 | n/a | 0.4% | |
| SAN RAFAEL COOP | $240,000 | $35,000 | -85.4% | 0.2% |
YAUCO's top lender by overall market share is Oriental Bank, with 16.4% market share. In second place, with 16.0%, is Banco Popular de Puerto Rico, having originated $2,575,000 in loans. In third place, with 13.7%, is THE MONEY HOUSE INC., having originated $2,215,000 in loans. In fourth place, with 10.3%, is FIRST EQUITY MORTGAGE BANKERS, INC., having originated $1,660,000 in loans. In fifth place, with 8.7%, is FIRSTBANK PUERTO RICO, having originated $1,400,000 in loans.
YAUCO, 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 | Yauco, PR | $370 | $390 | $440 | $590 | $650 |
| 00624 | Yauco, PR | $360 | $370 | $420 | $580 | $670 |
| 00637 | Yauco, PR | $380 | $400 | $460 | $620 | $730 |
| 00647 | Yauco, PR | $370 | $390 | $440 | $600 | $670 |
| 00653 | Yauco, PR | $400 | $400 | $460 | $620 | $630 |
| 00656 | Yauco, PR | $360 | $370 | $420 | $570 | $580 |
| 00698 | Yauco, PR | $360 | $370 | $420 | $570 | $650 |
2022 Average & Median Rent Data Statistics
YAUCO, PR average 1BR rent: $384, median: $390
YAUCO, PR average 2BR rent: $437, median: $440
YAUCO, PR average 3BR rent: $593, median: $590
YAUCO, PR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 133 | $13,345,000 | $100,338 |
| Cash Out Refi | 15 | $1,825,000 | $121,667 |
| Refi | 6 | $830,000 | $138,333 |
| Other | 1 | $115,000 | $115,000 |
Yauco's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 38 | $3,650,000 | $96,053 |
| 4-5% | 37 | $3,525,000 | $95,270 |
| 3-4% | 35 | $3,945,000 | $112,714 |
| 6-7% | 28 | $2,920,000 | $104,286 |
| 7-8% | 8 | $660,000 | $82,500 |
| 2.5-3% | 6 | $720,000 | $120,000 |
| <2.5% | 2 | $660,000 | $330,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2022, Yauco's most frequently originated rate bucket was 5-6%, with 38 originations.
Loan Sizing (YAUCO, PR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 88 | $6,430,000 | $73,068 |
| $100k-200k | 60 | $7,800,000 | $130,000 |
| $200k-400k | 7 | $1,885,000 | $269,286 |
YAUCO's loan sizing saw the bucket of loans from $100,000 or less with 88 originations, totaling $6,430,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 87 | $9,685,000 | $111,322 |
| 60-80% | 49 | $4,815,000 | $98,265 |
| 40-60% | 15 | $1,125,000 | $75,000 |
| 20-40% | 2 | $190,000 | $95,000 |
| Over 100% | 2 | $300,000 | $150,000 |
YAUCO's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 87 originations, totaling $9,685,000 in origination value.