Caguas, PR Metro Area Mortgage Lenders & HMDA Data, 2003
In 2003, lenders reported 22,559 mortgage applications in Caguas, PR metro area totaling $2.2 billion. The average application was for $99,302, and applicants reported an average income of $50,000. 50% of applications resulted in an originated loan and 20% were denied. The most active lender was Banco Popular De Puerto Rico, with 3,054 applications, followed by Doral Mortgage Corp. and Hf Mortgage Bankers.
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| Years | 2003 |
| Total Number of Mortgage Applications | 22,559 |
| Total Mortgage Loan Application Amount | $2,240,162,000 |
| Average Mortgage Loan Application Amount | $99,302 |
| Highest Mortgage Loan Application Amount | $1,450,000 |
| Average Applicant Income | $50,000 |
| Highest Applicant Income | $1,613,000 |
Top Mortgage Lenders in Caguas, PR Metro Area (2003)
Ranked by the number of mortgage applications each lender reported in Caguas, PR metro area in 2003.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Banco Popular De Puerto Rico San Juan, PR |
3,054 | $93,172,000 | $30,000 | $34,000 |
| 2 | Doral Mortgage Corp. 1451 Roosevelt Ave S.J., PR |
2,817 | $285,977,000 | $101,000 | $46,000 |
| 3 | Hf Mortgage Bankers San Juan, PR |
1,999 | $254,445,000 | $127,000 | $56,000 |
| 4 | Popular Mortgage, Inc. San Juan, PR |
1,723 | $233,513,000 | $135,000 | $49,000 |
| 5 | R & G Mortgage Corporation San Juan, PR |
1,520 | $153,239,000 | $100,000 | $43,000 |
| 6 | Firstbank Puerto Rico Santurce, PR |
1,317 | $143,011,000 | $108,000 | $55,000 |
| 7 | R-G Premier Bank of P.R. Guaynabo, PR |
1,294 | $157,430,000 | $121,000 | $50,000 |
| 8 | Banco Santander San Juan, PR |
1,282 | $98,511,000 | $76,000 | $21,000 |
| 9 | Doral Bank San Juan, PR |
1,282 | $194,908,000 | $152,000 | $105,000 |
| 10 | Citibank, N.A. New York, NY |
1,085 | $53,982,000 | $49,000 | $40,000 |
The tables below break down 2003 mortgage applications in Caguas, 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 Caguas, PR in 2003
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 |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 10,550 | $1,149,320,000 | $108,000 | $1,450,000 | $50,000 | $1,000,000 |
| Home Purchase (one-to-four family) | 7,193 | $1,016,531,000 | $141,000 | $880,000 | $54,000 | $1,613,000 |
| Home Improvement (one-to-four family) | 4,805 | $72,369,000 | $15,000 | $1,000,000 | $40,000 | $887,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 11 | $1,942,000 | $176,000 | $425,000 | $0 | $0 |
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 | 20,014 | $1,995,470,000 | $99,000 | $1,450,000 | $51,000 | $1,026,000 |
| Not applicable | 1,418 | $205,468,000 | $144,000 | $647,000 | $28,000 | $1,613,000 |
| Information not provided by applicant in mail or telephone application | 948 | $30,975,000 | $32,000 | $647,000 | $47,000 | $357,000 |
| White | 115 | $4,372,000 | $38,000 | $315,000 | $74,000 | $332,000 |
| Black | 30 | $1,007,000 | $33,000 | $212,000 | $52,000 | $172,000 |
| Other | 14 | $1,949,000 | $139,000 | $343,000 | $71,000 | $134,000 |
| American Indian or Alaskan Native | 11 | $487,000 | $44,000 | $153,000 | $52,000 | $110,000 |
| Asian or Pacific Islander | 9 | $434,000 | $48,000 | $200,000 | $50,000 | $132,000 |
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) | 20,751 | $2,052,576,000 | $98,000 | $1,450,000 | $53,000 | $1,613,000 |
| FHA-insured (Federal Housing Administration) | 1,530 | $155,867,000 | $101,000 | $215,000 | $36,000 | $321,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 186 | $18,595,000 | $99,000 | $251,000 | $39,000 | $92,000 |
| VA-guaranteed (Veterans Administration) | 92 | $13,124,000 | $142,000 | $263,000 | $44,000 | $123,000 |
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 | 11,256 | $1,267,112,000 | $112,000 | $1,000,000 | $58,000 | $1,613,000 |
| Application Denied By Financial Institution | 4,406 | $189,271,000 | $42,000 | $1,450,000 | $43,000 | $1,000,000 |
| Loan Purchased By The Institution | 2,927 | $358,844,000 | $122,000 | $647,000 | $27,000 | $507,000 |
| Application Withdrawn By Applicant | 1,457 | $164,397,000 | $112,000 | $850,000 | $53,000 | $838,000 |
| File Closed For Incompleteness | 1,422 | $144,816,000 | $101,000 | $544,000 | $48,000 | $784,000 |
| Application Approved But Not Accepted | 1,091 | $115,722,000 | $106,000 | $900,000 | $64,000 | $664,000 |
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 |
|---|---|---|---|---|---|---|
| Credit History | 1,099 | $51,199,000 | $46,000 | $475,000 | $42,000 | $1,000,000 |
| Debt-To-Income Ratio | 538 | $28,111,000 | $52,000 | $1,450,000 | $36,000 | $285,000 |
| Other | 272 | $12,190,000 | $44,000 | $385,000 | $57,000 | $357,000 |
| Collateral | 215 | $14,472,000 | $67,000 | $364,000 | $41,000 | $461,000 |
| Credit Application Incomplete | 85 | $5,852,000 | $68,000 | $630,000 | $69,000 | $335,000 |
| Employment History | 51 | $4,290,000 | $84,000 | $219,000 | $39,000 | $128,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 20 | $2,599,000 | $129,000 | $285,000 | $42,000 | $104,000 |
| Mortgage Insurance Denied | 4 | $502,000 | $125,000 | $175,000 | $48,000 | $103,000 |
| Unverifiable Information | 3 | $339,000 | $113,000 | $159,000 | $59,000 | $85,000 |
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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