Arecibo, PR Metro Area Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 1,050 mortgage applications in Arecibo, PR metro area totaling $128.5 million, down 18% from 2022. The average application was for $122,390, and applicants reported an average income of $60,000. 59% of applications resulted in an originated loan and 17% were denied. The most active lender was Banco Popular, with 215 applications, followed by Firstbank and The Moneyhouse Inc..
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2003 |
| Total Number of Mortgage Applications | 1,050 |
| Total Mortgage Loan Application Amount | $128,510,000 |
| Average Mortgage Loan Application Amount | $122,390 |
| Highest Mortgage Loan Application Amount | $775,000 |
| Average Applicant Income | $60,000 |
| Highest Applicant Income | $831,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Banco Popular PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 56,050,000,000 | 215 | $ 26,605,000 |
| Firstbank PO BOX 9146 SAN JUAN, PR 00908 |
* | $ 18,626,645,000 | 151 | $ 18,045,000 |
| The Moneyhouse Inc. #52 CALLE PASEO COVANDONGA SAN JUAN, PR 00901 |
* | $ -1,000 | 89 | $ 13,305,000 |
| Cooperativa De A/C Camuy AVE. BALTAZAR JIMÉNEZ MÉNDEZ #300 CAMUY, PR 00627 |
* | $ -1,000 | 70 | $ 7,060,000 |
| Oriental Bank PO BOX 195115 SAN JUAN, PR 00919 |
* | $ 9,709,667,000 | 68 | $ 8,250,000 |
| Coopaca Mortgage PO BOX 1056 ARECIBO, PR 00613 |
* | $ -1,000 | 58 | $ 5,410,000 |
| Metro Island Mortgage VILLA NEVAREZ PROF. CENTER SUITE 201 RIO PIEDRAS, PR 00927 |
* | $ -1,000 | 50 | $ 7,000,000 |
| Sun West Mortgage Company, Inc 18000 STUDEBAKER ROAD, SUITE 200 CERRITOS, CA 90703 |
* | $ -1,000 | 41 | $ 5,325,000 |
| Pentagon Federal Credit Union OMAHA, NE 68164 |
* | $ 35,526,360,000 | 34 | $ 6,670,000 |
| First Equity Mortgage Bankers Inc. 9300 S DADELAND BLVD STE 500 MIAMI, FL 33156 |
* | $ -1,000 | 25 | $ 2,605,000 |
| Preferred Mortgage LLC 307 AVE FD ROOSEVELT SAN JUAN, PR 00918 |
* | $ -1,000 | 21 | $ 2,285,000 |
| Home Mortgage Bankers AVE. SANCHEZ OSORIO 3BS-5 VIA 60 VILLA F CAROLINA, PR 00983 |
* | $ -1,000 | 20 | $ 2,500,000 |
| Multiples Mortgage Corp. 761 AVE. LUIS MUNOZ RIVERA, SAN JUAN, PR 00918 |
* | $ -1,000 | 17 | $ 1,885,000 |
| Cooperativa De Ahorro Y Credito Del Bo. Quebrada De Camuy HC 02 BOX 7873 CAMUY, PR 00627 |
* | $ -1,000 | 16 | $ 1,470,000 |
| Trust Mortgage Corp. EDIFI EMILIO BACARDI SUITE 101A CALLE JUNIN PARK GARDENS SAN JUAN, PR 00923 |
* | $ -1,000 | 16 | $ 1,980,000 |
| Coop. De A/C La Puertorrique+¦A AVE. ANA G. MÉNDEZ, 9729 PR-176 KM 1.1 SAN JUAN, PR 00921 |
* | $ -1,000 | 15 | $ 1,905,000 |
| Cooperativa De Ahorro Y Crn++Dito Dr. Manuel Zeno Gandn++A PO BOX 1865 ARECIBO, PR 00613 |
* | $ -1,000 | 15 | $ 1,075,000 |
| Hr Mortgage Corp M11 CALLE ROBLE, VILLA TURABO CAGUAS, PR 00725 |
* | $ -1,000 | 13 | $ 1,385,000 |
| Actual Mortgage Bankers PO BOX 2808 BAYAMON, PR 00960 |
* | $ -1,000 | 12 | $ 1,240,000 |
| San Rafael Coop CALLE RAFAEL RODR+¡GUEZ, CANAL 1 URB. AVI QUEBRADILLAS, PR 00678 |
* | $ -1,000 | 12 | $ 1,150,000 |
| Capital Mortgage 206 ELEANOR ROOSEVELT SAN JUAN, PR 00918 |
* | $ -1,000 | 9 | $ 1,005,000 |
| Senior Mortgage Banker 1239 ROOSEVELT AVE SAN JUAN, PR 00920 |
* | $ -1,000 | 8 | $ 1,150,000 |
| Cooperativa De Ac Hatillo PO BOX 95 HATILLO, PR 00659 |
* | $ -1,000 | 8 | $ 830,000 |
| Cooperativa De A/C Isabela 21 CALLE BARBOSA SUITE 1 ISABELA, PR 00662 |
* | $ -1,000 | 8 | $ 1,110,000 |
| Cooperativa De Ac Manati PO BOX 30562 MANATI, PR 00674 |
* | $ -1,000 | 7 | $ 835,000 |
| Cooperativa De A\C Lares CARR 111 KM 3.8 AVE LOS PATRIOTAS LARES, PR 00669 |
* | $ -1,000 | 7 | $ 415,000 |
| Vig Mortgage 1225 PONCE DE LEON VIG TOWER SUITE B-J SAN JUAN, PR 00907 |
* | $ -1,000 | 7 | $ 705,000 |
| Emi Equity Mortgage, Inc. 1651 PONCE DE LEON AVE, SUITE 102 SAN JUAN, PR 00909 |
* | $ -1,000 | 6 | $ 790,000 |
| Calcon Mutual Mortgage LLC 3131 CAMINO DEL RIO N SUITE 1680 SAN DIEGO, CA 92108 |
* | $ -1,000 | 5 | $ 545,000 |
| Cooperativa De Ahorroy Credito PO BOX 608 RINCON, PR 00677 |
* | $ -1,000 | 5 | $ 1,015,000 |
| Equity Prime Mortgage LLC 5 CONCOURSE PKWY, STE 2250 ATLANTA, GA 30328 |
* | $ -1,000 | 4 | $ 820,000 |
| Rf Mortgage & Investment Corp PO BOX 361309 SAN JUAN, PR 00936 |
* | $ -1,000 | 4 | $ 510,000 |
| The Lending Center Corporation G-8 ONEILL STREET SAN JUAN, PR 00918 |
* | $ -1,000 | 4 | $ 460,000 |
| Crosscountry Mortgage, LLC 2160 SUPERIOR AVENUE CLEVELAND, OH 44114 |
* | $ -1,000 | 4 | $ 620,000 |
| Latin American Financlal 1700 JESUS T. PINERO AVE 2ND FL STE 26 SAN JUAN, PR 00921 |
* | $ -1,000 | 2 | $ 140,000 |
| A&D Mortgage LLC 899 W. CYPRESS CREEK ROAD FT. LAUDERDALE, FL 33309 |
* | $ -1,000 | 2 | $ 190,000 |
| Caribe Federal Credit Union 195 ONEIL ST SAN JUAN, PR 00918 |
* | $ 654,595,000 | 1 | $ 125,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 1 | $ 95,000 |
The tables below break down 2023 mortgage applications in Arecibo, PR metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Arecibo, PR in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 877 | $108,685,000 | $123,000 | $775,000 | $59,000 | $751,000 |
| Cash-out Refinancing | 87 | $11,825,000 | $135,000 | $425,000 | $62,000 | $326,000 |
| Refinancing | 33 | $3,335,000 | $101,000 | $265,000 | $49,000 | $145,000 |
| Not Applicable | 27 | $1,455,000 | $53,000 | $145,000 | $0 | $0 |
| Other Purpose | 22 | $2,780,000 | $126,000 | $455,000 | $92,000 | $831,000 |
| Home Improvement | 4 | $430,000 | $107,000 | $175,000 | $29,000 | $39,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Hispanic | 849 | $102,215,000 | $120,000 | $515,000 | $58,000 | $831,000 |
| Not applicable | 144 | $17,520,000 | $121,000 | $405,000 | $0 | $0 |
| White | 29 | $3,685,000 | $127,000 | $365,000 | $73,000 | $212,000 |
| Not Provided | 16 | $3,100,000 | $193,000 | $385,000 | $94,000 | $183,000 |
| Black or African American | 11 | $1,775,000 | $161,000 | $775,000 | $78,000 | $163,000 |
| Asian | 1 | $215,000 | $215,000 | $215,000 | $135,000 | $135,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 489 | $51,835,000 | $106,000 | $505,000 | $64,000 | $831,000 |
| FHA-insured (Federal Housing Administration) | 376 | $48,510,000 | $129,000 | $515,000 | $53,000 | $312,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 127 | $16,225,000 | $127,000 | $345,000 | $51,000 | $117,000 |
| VA-guaranteed (Veterans Administration) | 58 | $11,940,000 | $205,000 | $775,000 | $74,000 | $163,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 618 | $75,530,000 | $122,000 | $775,000 | $60,000 | $751,000 |
| Application Denied By Financial Institution | 174 | $20,090,000 | $115,000 | $365,000 | $52,000 | $315,000 |
| Loan Purchased By The Institution | 141 | $17,115,000 | $121,000 | $405,000 | $0 | $0 |
| Application Withdrawn By Applicant | 74 | $10,180,000 | $137,000 | $455,000 | $79,000 | $831,000 |
| File Closed For Incompleteness | 25 | $3,125,000 | $125,000 | $315,000 | $59,000 | $286,000 |
| Application Approved But Not Accepted | 17 | $2,195,000 | $129,000 | $275,000 | $69,000 | $200,000 |
| Preapproval Denied by Financial Institution | 1 | $275,000 | $275,000 | $275,000 | $5,000 | $5,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 859 | $106,675,000 | $124,000 | $775,000 | $62,000 | $831,000 |
| Collateral | 79 | $9,805,000 | $124,000 | $365,000 | $57,000 | $315,000 |
| Debt-To-Income Ratio | 55 | $6,165,000 | $112,000 | $365,000 | $47,000 | $181,000 |
| Credit History | 20 | $1,540,000 | $77,000 | $175,000 | $37,000 | $98,000 |
| Other | 16 | $1,670,000 | $104,000 | $245,000 | $48,000 | $82,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $785,000 | $112,000 | $225,000 | $67,000 | $151,000 |
| Unverifiable Information | 6 | $1,080,000 | $180,000 | $285,000 | $62,000 | $89,000 |
| Employment History | 4 | $280,000 | $70,000 | $85,000 | $22,000 | $31,000 |
| Credit Application Incomplete | 2 | $300,000 | $150,000 | $205,000 | $102,000 | $172,000 |
| Mortgage Insurance Denied | 2 | $210,000 | $105,000 | $125,000 | $39,000 | $58,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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