Puerto Rico USDA Loan Rates, Closing Costs & Stats

Puerto Rico

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Puerto Rico USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Puerto Rico averaged -0.49% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Puerto Rico's average USDA mortgage closing costs are $6,068.

The average rate for the prior week (2024-11-22) was 6.22% and one month ago for the week of 2024-10-25, the average rate was 6.12%.

The average rate one year ago was 7.02%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.14%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Puerto Rico USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Puerto Rico level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
HR MORTGAGE CORP. 256 6.44% $7,565
FIRSTBANK PUERTO RICO 147 5.46% $7,858
Banco Popular de Puerto Rico 145 5.39% $9,837
THE MONEY HOUSE INC. 87 6.58% $7,035
HOME MORTGAGE BANKERS CORP. 84 6.85% $8,331
FIRST EQUITY MORTGAGE BANKERS, INC. 83 6.35% $7,794
RM ACTUAL MORTGAGE, INC. 81 6.74% $6,180
Oriental Bank 76 5.66% $7,085
PREFERRED MORTGAGE CORPORATION 75 6.43% $7,391
METRO ISLAND MORTGAGE, INC. 73 6.34% $8,463
TRUST MORTGAGE, CORP 66 6.27% $7,750
SUN WEST MORTGAGE COMPANY, INC. 48 6.33% $7,911
Cooperativa A/C Oriental 26 6.48% $6,222
Rf Mortgage & Investment Corp 25 6.67% $8,611
COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA 25 6.77% $9,466
VIG MORTGAGE CORPORATION 24 6.88% $8,368
The Lending Center Corporation 19 7.12% $7,651
E.M.I. EQUITY MORTGAGE, INC. 18 6.63% $5,856
Capital Mortgage Services Corp. 17 7.26% $7,085
Senior Mortgage Bankers Inc 5 6.25% $10,088
CROSSCOUNTRY MORTGAGE, LLC 4 6.52% $13,582
MULTIPLES MORTGAGE CORPORATION 3 7.00% $7,458
COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. 2 7.00% $8,874
COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS 2 5.88% $7,648
Cooperativa de Ahorro y Credito de Rincon 1 4.95% $6,989
Cooperativa de Ahorro y Credito Aguas Buenas 1 7.25% $7,514
COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA 1 7.50% $9,263
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS 1 5.25% $4,594
Cooperativa de A/C de Maunabo 1 6.50% $505

The top Puerto Rico USDA lender as defined by loan originations is HR MORTGAGE CORP., with 256 USDA loans originated. Their average total fees are $7,565, which is $293 lower than the next largest lender, FIRSTBANK PUERTO RICO.

The lowest fee Puerto Rico USDA lenders (with over 10 loans originated) are E.M.I. EQUITY MORTGAGE, INC. ($5,856), RM ACTUAL MORTGAGE, INC. ($6,180), Cooperativa A/C Oriental ($6,222), THE MONEY HOUSE INC. ($7,035) and Capital Mortgage Services Corp. ($7,085).

The lowest rate Puerto Rico USDA lenders (with over 10 loans originated) are Banco Popular de Puerto Rico (5.39%), FIRSTBANK PUERTO RICO (5.46%), Oriental Bank (5.66%), TRUST MORTGAGE, CORP (6.27%) and SUN WEST MORTGAGE COMPANY, INC. (6.33%).