Puerto Rico Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Puerto Rico averaged
6.66%
for the week of 2025-04-10, compared to the national average of
6.62% for the same period.
The average rate for the prior week (2025-04-03) was
6.68% and
one month ago for the week of 2025-03-06, the
average rate was 6.67%.
Puerto Rico's average rate one year ago was 6.86%.
For refis of the same type during the week of 2025-04-10, the average rate
was 6.86%.
Puerto Rico 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 Puerto Rico 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.).
Puerto Rico Average Closing Costs & Other Stats
Puerto Rico's 52 lenders originated 12,640
loans during 2024. The total origination value was $2,377,350,000, with an average loan value of
$188,081.
Puerto Rico's average closing costs are $7,601.
The top Puerto Rico lender as defined by loan originations is Banco Popular de Puerto Rico, with
1,104 loans originated. Their average total fees are
$8,467, which is $970
higher than the next largest lender,
FIRSTBANK PUERTO RICO.
The lowest fee Puerto Rico lenders (with over 10 loans originated) are
COOPERATIVA DE AHORRO Y CREDITO DE LARES ($4,768), COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA ($5,622), COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS ($5,828), COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS ($5,843) and Cooperativa de Ahorro y Credito de Rincon ($5,922).
The lowest rate Puerto Rico lenders (with over 10 loans originated) are
COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS (5.88%), Cooperativa de Ahorro y Credito de Rincon (6.13%), COOPERATIVA DE AHORRO Y CREDITO DE ISABELA (6.16%), FIRSTBANK PUERTO RICO (6.22%) and COOPERATIVA DE CREDITO LA SAGRADA FAMILIA (6.23%).
Puerto Rico 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| Banco Popular de Puerto Rico | $515,770,000 | $628,885,000 | 21.9% | 26.5% |
| FIRSTBANK PUERTO RICO | $319,635,000 | $368,810,000 | 15.4% | 15.5% |
| THE MONEY HOUSE INC. | $163,135,000 | $175,165,000 | 7.4% | 7.4% |
| Oriental Bank | $136,380,000 | $147,320,000 | 8.0% | 6.2% |
| METRO ISLAND MORTGAGE, INC. | $82,080,000 | $79,525,000 | -3.1% | 3.3% |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $129,140,000 | $76,450,000 | -40.8% | 3.2% |
| PENTAGON FEDERAL CREDIT UNION | $68,420,000 | $68,455,000 | 0.1% | 2.9% |
| PREFERRED MORTGAGE CORPORATION | $64,060,000 | $65,980,000 | 3.0% | 2.8% |
| HOME MORTGAGE BANKERS CORP. | $60,930,000 | $61,660,000 | 1.2% | 2.6% |
| HR MORTGAGE CORP. | $56,885,000 | $54,855,000 | -3.6% | 2.3% |
| TRUST MORTGAGE, CORP | $47,550,000 | $50,665,000 | 6.6% | 2.1% |
| Rf Mortgage & Investment Corp | $47,915,000 | $48,765,000 | 1.8% | 2.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $66,420,000 | $42,405,000 | -36.2% | 1.8% |
| VIG MORTGAGE CORPORATION | $31,115,000 | $32,285,000 | 3.8% | 1.4% |
| RM ACTUAL MORTGAGE, INC. | $26,570,000 | $31,625,000 | 19.0% | 1.3% |
| E.M.I. EQUITY MORTGAGE, INC. | $26,075,000 | $31,230,000 | 19.8% | 1.3% |
| Capital Mortgage Services Corp. | $33,545,000 | $28,670,000 | -14.5% | 1.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $38,115,000 | $28,125,000 | -26.2% | 1.2% |
| CALCON MUTUAL MORTGAGE LLC | $17,845,000 | $23,360,000 | 30.9% | 1.0% |
| COOPERATIVA DE AHORRO Y CREDITO LA PUERTORRIQUEÑA | $22,015,000 | $22,215,000 | 0.9% | 0.9% |
| MULTIPLES MORTGAGE CORPORATION | $26,575,000 | $21,885,000 | -17.6% | 0.9% |
| Senior Mortgage Bankers Inc | $20,220,000 | $20,480,000 | 1.3% | 0.9% |
| COOPERATIVA DE AHORRO Y CREDITO DE ISABELA | $6,850,000 | $17,400,000 | 154.0% | 0.7% |
| COOPERATIVA DE AHORRO Y CREDITO DE CAMUY | $15,815,000 | $16,885,000 | 6.8% | 0.7% |
| Cooperativa de Ahorro y Credito de Rincon | $32,895,000 | $16,395,000 | -50.2% | 0.7% |
| Baxter Credit Union | $3,010,000 | $13,935,000 | 363.0% | 0.6% |
| Cooperativa A/C de Arecibo | $13,765,000 | $12,780,000 | -7.2% | 0.5% |
| COOPERATIVA DE AHORRO Y CREDITO DE MANATI INC. | $9,805,000 | $10,745,000 | 9.6% | 0.5% |
| COOPERATIVA DE CREDITO LA SAGRADA FAMILIA | $7,870,000 | $10,470,000 | 33.0% | 0.4% |
| LATIN AMERICAN FINANCIAL CORPORATION | $13,295,000 | $9,650,000 | -27.4% | 0.4% |
| COOPERATIVA DE AHORRO Y CREDITO VEGA ALTA | $12,515,000 | $9,560,000 | -23.6% | 0.4% |
| Cooperativa A/C Oriental | $7,290,000 | $9,270,000 | 27.2% | 0.4% |
| Equity Prime Mortgage LLC | $12,395,000 | $8,595,000 | -30.7% | 0.4% |
| EVERETT FINANCIAL, INC. | $4,490,000 | $8,565,000 | 90.8% | 0.4% |
| The Lending Center Corporation | $5,745,000 | $7,540,000 | 31.2% | 0.3% |
| CARIBE FEDERAL CREDIT UNION | $7,410,000 | $6,585,000 | -11.1% | 0.3% |
| BROKER SOLUTIONS, INC. | $5,700,000 | n/a | 0.2% | |
| COOPERATIVA DE AHORRO Y CREDITO DE CABO ROJO | $5,125,000 | n/a | 0.2% | |
| COOPERATIVA DE AHORRO Y CREDITO CAGUAS | $3,315,000 | $4,595,000 | 38.6% | 0.2% |
| The Piedmont Bank | $4,305,000 | $4,405,000 | 2.3% | 0.2% |
| Cooperativa De Credito Y Ahorro San Jose | $3,820,000 | $4,175,000 | 9.3% | 0.2% |
| Cooperativa de A/C de Maunabo | $1,755,000 | $3,760,000 | 114.2% | 0.2% |
| Cooperativa de Ahoro y Crédito Bo. Quebrada de Camuy, P.R. | $2,520,000 | $3,505,000 | 39.1% | 0.1% |
| Cooperativa de Ahorro y Credito Jesus Obrero | $4,035,000 | $2,900,000 | -28.1% | 0.1% |
| COOPERATIVA DE AHORRO Y CREDITO DE LARES | $3,385,000 | $2,850,000 | -15.8% | 0.1% |
| Flagstar Bank, FSB | $2,620,000 | n/a | 0.1% | |
| Cooperativa de Ahorro y Credito Aguas Buenas | $615,000 | $2,325,000 | 278.0% | 0.1% |
| COOPERATIVA DE AHORRO Y CREDITO LAS PIEDRAS | $2,790,000 | $2,295,000 | -17.7% | 0.1% |
| COOPERATIVA DE AHORRO Y CREDITO DR. MANUEL ZENO GANDIA | $3,040,000 | $1,875,000 | -38.3% | 0.1% |
| SAN RAFAEL COOP | $2,780,000 | $1,550,000 | -44.2% | 0.1% |
| Cooperativa De Ahorro Y Credito La Aiboniteña | $2,185,000 | $1,535,000 | -29.7% | 0.1% |
| PLANET HOME LENDING, LLC | $560,000 | $1,470,000 | 162.5% | 0.1% |
| COOPERATIVA DE AHORRO Y CREDITO ROOSEVELT ROADS | $1,795,000 | $1,175,000 | -34.5% | 0.0% |
| City Lending Inc. | $1,160,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $930,000 | n/a | 0.0% | |
| COOPERATIVA DE AHORRO Y CREDITO DEL VALENCIANO | $1,980,000 | $730,000 | -63.1% | 0.0% |
| COOPERATIVA DE AHORRO Y CREDITO DE SANTA ISABEL (CACSI) | $485,000 | n/a | 0.0% | |
| FIRST MORTGAGE COMPANY, INC. | $475,000 | n/a | 0.0% | |
| CMG MORTGAGE, INC. | $470,000 | n/a | 0.0% | |
| M&T Bank | $35,000 | n/a | 0.0% |
Puerto Rico's top lender by overall market share is Banco Popular de Puerto Rico, with 26.5% market share. In second place, with 15.5%, is FIRSTBANK PUERTO RICO, having originated $368,810,000 in loans. In third place, with 7.4%, is THE MONEY HOUSE INC., having originated $175,165,000 in loans. In fourth place, with 6.2%, is Oriental Bank, having originated $147,320,000 in loans. In fifth place, with 3.3%, is METRO ISLAND MORTGAGE, INC., having originated $79,525,000 in loans.
Puerto Rico Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 10,955 | $2,028,875,000 | $185,201 |
| Cash Out Refi | 1,064 | $180,750,000 | $169,878 |
| Refi | 292 | $78,720,000 | $269,589 |
| Other | 221 | $52,815,000 | $238,982 |
| Home Improvement | 108 | $36,190,000 | $335,093 |
Puerto Rico's most frequently cited loan purpose was Home Purchase, with 10,955 originations. The 2nd most popular reason was Cash Out Refi, with 1,064 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 6,307 | $1,153,625,000 | $182,912 |
| 5-6% | 2,774 | $554,390,000 | $199,852 |
| 7-8% | 1,782 | $296,970,000 | $166,650 |
| 4-5% | 1,099 | $233,365,000 | $212,343 |
| Over 8% | 497 | $71,995,000 | $144,859 |
| 3-4% | 108 | $22,440,000 | $207,778 |
| <2.5% | 2 | $200,000 | $100,000 |
| 2.5-3% | 1 | $115,000 | $115,000 |
During 2024, Puerto Rico's most frequently originated rate bucket was 6-7%, with 6,307 originations.
Loan Sizing (Puerto Rico MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 5,632 | $795,510,000 | $141,248 |
| $100,000 or less | 3,639 | $264,355,000 | $72,645 |
| $200k-400k | 2,532 | $692,700,000 | $273,578 |
| $400k-600k | 499 | $238,015,000 | $476,984 |
| $600k-1000k | 227 | $167,005,000 | $735,705 |
| $Over $1MM | 111 | $219,765,000 | $1,979,865 |
Puerto Rico's loan sizing saw the bucket of loans from $100k-200k with 5,632 originations, totaling $795,510,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 5,984 | $1,263,400,000 | $211,130 |
| 60-80% | 4,707 | $803,815,000 | $170,770 |
| 40-60% | 1,276 | $164,330,000 | $128,785 |
| 20-40% | 322 | $42,990,000 | $133,509 |
| Over 100% | 212 | $51,570,000 | $243,255 |
| Under 20% | 36 | $3,190,000 | $88,611 |
Puerto Rico's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 5,984 originations, totaling $1,263,400,000 in origination value.