Fajardo, PR Metro Area Mortgage Lenders & HMDA Data, 2005
In 2005, lenders reported 5,783 mortgage applications in Fajardo, PR metro area totaling $512.0 million, down 4% from 2004. The average application was for $88,536, and applicants reported an average income of $53,000. 46% of applications resulted in an originated loan and 22% were denied. The most active lender was Doral Mortgage Corp., with 729 applications, followed by Banco Popular De Puerto Rico and R & G Mortgage Corporation.
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| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 5,783 |
| Total Mortgage Loan Application Amount | $512,006,000 |
| Average Mortgage Loan Application Amount | $88,536 |
| Highest Mortgage Loan Application Amount | $810,000 |
| Average Applicant Income | $53,000 |
| Highest Applicant Income | $2,066,000 |
Top Mortgage Lenders in Fajardo, PR Metro Area (2005)
Ranked by the number of mortgage applications each lender reported in Fajardo, PR metro area in 2005.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Doral Mortgage Corp. San Juan, PR |
729 | $59,621,000 | $81,000 | $42,000 |
| 2 | Banco Popular De Puerto Rico San Juan, PR |
623 | $24,046,000 | $38,000 | $33,000 |
| 3 | R & G Mortgage Corporation San Juan, PR |
572 | $49,545,000 | $86,000 | $38,000 |
| 4 | Doral Bank San Juan, PR |
556 | $64,621,000 | $116,000 | $59,000 |
| 5 | Popular Mortgage, Inc. San Juan, PR |
447 | $54,965,000 | $122,000 | $64,000 |
| 6 | R-G Premier Bank of P.R. Guaynabo, PR |
417 | $38,810,000 | $93,000 | $95,000 |
| 7 | Banco Santander San Juan, PR |
243 | $23,723,000 | $97,000 | $20,000 |
| 8 | Citifinancial Baltimore, MD |
211 | $7,853,000 | $37,000 | $25,000 |
| 9 | Hf Mortgage Bankers 1451 Roosevelt Ave S.J., PR |
197 | $18,799,000 | $95,000 | $50,000 |
| 10 | Citibank, N.A. New York, NY |
186 | $6,823,000 | $36,000 | $35,000 |
The tables below break down 2005 mortgage applications in Fajardo, 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 Fajardo, PR in 2005
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 | 2,428 | $295,937,000 | $121,000 | $810,000 | $66,000 | $2,066,000 |
| Refinancing | 2,067 | $182,482,000 | $88,000 | $620,000 | $49,000 | $1,525,000 |
| Home Improvement | 1,288 | $33,587,000 | $26,000 | $462,000 | $30,000 | $533,000 |
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 | 4,938 | $417,168,000 | $84,000 | $777,000 | $49,000 | $1,620,000 |
| Not applicable | 573 | $71,340,000 | $124,000 | $810,000 | $41,000 | $2,066,000 |
| Not Provided | 200 | $14,423,000 | $72,000 | $765,000 | $62,000 | $1,525,000 |
| White | 59 | $7,819,000 | $132,000 | $810,000 | $128,000 | $1,800,000 |
| Asian | 6 | $875,000 | $145,000 | $569,000 | $68,000 | $151,000 |
| Black or African American | 5 | $196,000 | $39,000 | $139,000 | $50,000 | $68,000 |
| American Indian or Alaskan Native | 2 | $185,000 | $92,000 | $110,000 | $19,000 | $38,000 |
| 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) | 5,396 | $477,698,000 | $88,000 | $810,000 | $58,000 | $2,066,000 |
| FHA-insured (Federal Housing Administration) | 328 | $27,793,000 | $84,000 | $259,000 | $24,000 | $205,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 30 | $3,031,000 | $101,000 | $179,000 | $30,000 | $80,000 |
| VA-guaranteed (Veterans Administration) | 29 | $3,484,000 | $120,000 | $179,000 | $31,000 | $75,000 |
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 | 2,641 | $244,718,000 | $92,000 | $810,000 | $68,000 | $2,066,000 |
| Application Denied By Financial Institution | 1,264 | $78,731,000 | $62,000 | $640,000 | $42,000 | $533,000 |
| Application Withdrawn By Applicant | 740 | $72,276,000 | $97,000 | $765,000 | $56,000 | $840,000 |
| Loan Purchased By The Institution | 690 | $80,498,000 | $116,000 | $810,000 | $25,000 | $1,620,000 |
| File Closed For Incompleteness | 237 | $19,765,000 | $83,000 | $384,000 | $45,000 | $298,000 |
| Application Approved But Not Accepted | 210 | $15,943,000 | $75,000 | $660,000 | $58,000 | $694,000 |
| Preapproval Approved but not Accepted | 1 | $75,000 | $75,000 | $75,000 | $74,000 | $74,000 |
| Preapproval Denied by Financial Institution | 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 |
|---|---|---|---|---|---|---|
| Credit History | 349 | $22,434,000 | $64,000 | $620,000 | $40,000 | $370,000 |
| Other | 125 | $8,346,000 | $66,000 | $320,000 | $37,000 | $216,000 |
| Collateral | 119 | $8,231,000 | $69,000 | $513,000 | $41,000 | $264,000 |
| Debt-To-Income Ratio | 103 | $7,046,000 | $68,000 | $268,000 | $35,000 | $269,000 |
| Employment History | 28 | $3,234,000 | $115,000 | $640,000 | $47,000 | $180,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 22 | $1,443,000 | $65,000 | $265,000 | $41,000 | $129,000 |
| Credit Application Incomplete | 16 | $1,091,000 | $68,000 | $240,000 | $69,000 | $139,000 |
| Mortgage Insurance Denied | 7 | $870,000 | $124,000 | $239,000 | $60,000 | $162,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
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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