Fajardo, PR Metro Area Mortgage Lenders & HMDA Data, 2006
In 2006, lenders reported 4,798 mortgage applications in Fajardo, PR metro area totaling $469.9 million, down 17% from 2005. The average application was for $97,932, and applicants reported an average income of $60,000. 42% of applications resulted in an originated loan and 23% were denied. The most active lender was R & G Mortgage Corporation, with 592 applications, followed by Banco Popular De Puerto Rico and Popular Mortgage, Inc..
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| Years | 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 4,798 |
| Total Mortgage Loan Application Amount | $469,881,000 |
| Average Mortgage Loan Application Amount | $97,932 |
| Highest Mortgage Loan Application Amount | $1,223,000 |
| Average Applicant Income | $60,000 |
| Highest Applicant Income | $6,698,000 |
Top Mortgage Lenders in Fajardo, PR Metro Area (2006)
Ranked by the number of mortgage applications each lender reported in Fajardo, PR metro area in 2006.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | R & G Mortgage Corporation San Juan, PR |
592 | $59,817,000 | $101,000 | $48,000 |
| 2 | Banco Popular De Puerto Rico San Juan, PR |
447 | $14,955,000 | $33,000 | $29,000 |
| 3 | Popular Mortgage, Inc. San Juan, PR |
408 | $51,351,000 | $125,000 | $53,000 |
| 4 | Doral Mortgage Corp. San Juan, PR |
334 | $30,622,000 | $91,000 | $55,000 |
| 5 | R-G Premier Bank of P.R. Guaynabo, PR |
331 | $28,835,000 | $87,000 | $59,000 |
| 6 | Hf Mortgage Bankers 1451 Roosevelt Ave S.J., PR |
330 | $37,734,000 | $114,000 | $66,000 |
| 7 | Doral Bank San Juan, PR |
295 | $32,168,000 | $109,000 | $96,000 |
| 8 | Banco Santander San Juan, PR |
240 | $25,674,000 | $106,000 | $76,000 |
| 9 | Santander Mortgage Corporation San Juan, PR |
206 | $34,292,000 | $166,000 | $92,000 |
| 10 | Citibank, N.A. New York, NY |
172 | $1,936,000 | $11,000 | $25,000 |
The tables below break down 2006 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 2006
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 | 2,257 | $301,005,000 | $133,000 | $1,200,000 | $77,000 | $6,698,000 |
| Refinancing | 1,422 | $139,277,000 | $97,000 | $1,223,000 | $54,000 | $1,909,000 |
| Home Improvement | 1,119 | $29,599,000 | $26,000 | $774,000 | $31,000 | $1,248,000 |
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 | 4,155 | $393,985,000 | $94,000 | $1,200,000 | $61,000 | $6,698,000 |
| Not applicable | 495 | $59,954,000 | $121,000 | $1,200,000 | $39,000 | $1,525,000 |
| Not Provided | 79 | $7,427,000 | $94,000 | $1,223,000 | $91,000 | $1,909,000 |
| White | 57 | $7,195,000 | $126,000 | $338,000 | $113,000 | $941,000 |
| Asian | 8 | $1,022,000 | $127,000 | $194,000 | $75,000 | $144,000 |
| Black or African American | 4 | $298,000 | $74,000 | $122,000 | $49,000 | $78,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 4,313 | $416,647,000 | $96,000 | $1,223,000 | $63,000 | $6,698,000 |
| FHA-insured (Federal Housing Administration) | 397 | $41,440,000 | $104,000 | $318,000 | $31,000 | $300,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 62 | $8,131,000 | $131,000 | $244,000 | $37,000 | $144,000 |
| VA-guaranteed (Veterans Administration) | 26 | $3,663,000 | $140,000 | $292,000 | $43,000 | $112,000 |
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 | 2,014 | $197,375,000 | $98,000 | $1,223,000 | $68,000 | $1,909,000 |
| Application Denied By Financial Institution | 1,083 | $79,792,000 | $73,000 | $1,200,000 | $43,000 | $1,248,000 |
| Application Withdrawn By Applicant | 717 | $79,027,000 | $110,000 | $540,000 | $74,000 | $6,698,000 |
| Loan Purchased By The Institution | 611 | $73,489,000 | $120,000 | $1,200,000 | $43,000 | $1,525,000 |
| File Closed For Incompleteness | 211 | $24,477,000 | $116,000 | $700,000 | $62,000 | $503,000 |
| Application Approved But Not Accepted | 162 | $15,721,000 | $97,000 | $331,000 | $61,000 | $520,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 175 | $5,125,000 | $29,000 | $304,000 | $26,000 | $131,000 |
| Debt-To-Income Ratio | 76 | $4,248,000 | $55,000 | $275,000 | $29,000 | $156,000 |
| Other | 28 | $2,763,000 | $98,000 | $325,000 | $48,000 | $130,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 15 | $368,000 | $24,000 | $165,000 | $21,000 | $70,000 |
| Collateral | 10 | $1,138,000 | $113,000 | $300,000 | $78,000 | $308,000 |
| Employment History | 8 | $624,000 | $78,000 | $200,000 | $31,000 | $66,000 |
| Credit Application Incomplete | 7 | $1,459,000 | $208,000 | $1,200,000 | $64,000 | $302,000 |
| Mortgage Insurance Denied | 2 | $195,000 | $97,000 | $125,000 | $39,000 | $40,000 |
| 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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