Lares Municipio, PR Mortgage Lenders & HMDA Data, 2008
In 2008, lenders reported 481 mortgage applications in Lares Municipio, PR totaling $31.4 million, down 18% from 2007. The average application was for $65,000, and applicants reported an average income of $32,000. 34% of applications resulted in an originated loan and 38% were denied. The most active lender was Doral Mortgage LLC, with 62 applications, followed by Banco Popular De Puerto Rico and Westernbak Puerto Rico.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 481 |
| Total Mortgage Loan Application Amount | $31,433,000 |
| Average Mortgage Loan Application Amount | $65,000 |
| Highest Mortgage Loan Application Amount | $465,000 |
| Average Applicant Income | $32,000 |
| Highest Applicant Income | $172,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Doral Mortgage LLC DORAL FINANCIAL PLAZA, 1451 ROOSEVELT AV SAN JUAN, PR 00921 |
* | $ 11,855,073,000 | 62 | $ 4,278,000 |
| Banco Popular De Puerto Rico PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 26,742,000,000 | 59 | $ 894,000 |
| Westernbak Puerto Rico PO BOX 1180 MAYAGUEZ, PR 00681 |
* | $ 17,936,278,000 | 54 | $ 1,283,000 |
| R & G Mortgage Corporation P O BOX 362394 SAN JUAN, PR 00936 |
* | $ 8,011,488,000 | 45 | $ 4,015,000 |
| Popular Mortgage, Inc. PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 25,691,000,000 | 42 | $ 4,178,000 |
| Citifinancial 300 ST. PAUL PLACE BALTIMORE, MD 21202 |
* | $ 1,745,248,000 | 34 | $ 2,307,000 |
| R-G Premier Bank of P.R. PO BOX 2510 GUAYNABO, PR 00970 |
* | $ 7,424,734,000 | 34 | $ 2,225,000 |
| Doral Bank 268 PONCE DE LEON SUITE 910 SAN JUAN, PR 00918 |
* | $ 7,642,115,000 | 25 | $ 1,930,000 |
| Santander Financial Services P.O. BOX 362589 SAN JUAN, PR 00936 |
* | $ 8,082,156,000 | 25 | $ 1,979,000 |
| Banco Santander P.O.BOX 362589 SAN JUAN, PR 00936 |
* | $ 8,289,250,000 | 19 | $ 1,270,000 |
| Popular Finance, Inc. PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 25,691,000,000 | 12 | $ 724,000 |
| Firstbank Puerto Rico PO BOX 9146 SANTURCE, PR 00908 |
* | $ 16,259,720,000 | 11 | $ 1,058,000 |
| Preferred Mortgage LLC 307 AVE FD ROOSEVELT SAN JUAN, PR 00918 |
* | $ 10,000,000 | 8 | $ 611,000 |
| Firstmortgage PO BOX 9146 SAN JUAN, PR 00908 |
* | $ 9,582,507,000 | 7 | $ 651,000 |
| Coop Ahorro Y Credito De Lares AVE.LOS PATRIOTAS C/111 KM 8.3 LARES, PR 00669 |
* | $ 10,000,000 | 6 | $ 450,000 |
| Cooperativa De Ahorro Y Credito Del Bo. Quebrada De Camuy HC 02 BOX 7873 CAMUY, PR 00627 |
* | $ 10,000,000 | 6 | $ 302,000 |
| Oriental Bank PO BOX 195115 SAN JUAN, PR 00919 |
* | $ 5,644,198,000 | 5 | $ 393,000 |
| Banco Bilbao Vizcaya Argentari 254 MUNOZ RIVERA AVE SAN JUAN, PR 00918 |
* | $ 6,588,855,000 | 4 | $ 386,000 |
| Reliable Financial Services PO BOX 21382, MAC F0302-001 SAN JUAN, PR 00928 |
* | $ 481,996,000 | 4 | $ 436,000 |
| Scotiabank De Puerto Rico 290 JESUS T. PIN++ERO SAN JUAN, PR 00918 |
* | $ 1,547,096,000 | 4 | $ 755,000 |
| Aeela Mortgage PO BOX 71502 SAN JUAN, PR 00936 |
* | $ 10,000,000 | 2 | $ 84,000 |
| Mortgage One Group PO BOX 142213 ARECIBO, PR 00614 |
* | $ 10,000,000 | 2 | $ 219,000 |
| Jr Mortgage Home 2979 EMILIO FAGOT AVE. SUITE 1 PONCE, PR 00716 |
* | $ 1,395,899,000 | 2 | $ 95,000 |
| First Security Mortgage 97 DE DIEGO AVE. SAN JUAN, PR 00929 |
* | $ 10,000,000 | 1 | $ 99,000 |
| Cooperativa De A/C Isabela 21 CALLE BARBOSA SUITE 1 ISABELA, PR 00662 |
* | $ 10,000,000 | 1 | $ 84,000 |
| Cooperativa De A/C De Adjuntas 8 PRIMO DELGADO ST ADJUNTAS,PR 00601 00601, PR 00601 |
* | $ 10,000,000 | 1 | $ 65,000 |
| Aaa Concordia Mortgage Corp RR-37 BOX 1837 SAN JUAN, PR 00926 |
* | $ 10,000,000 | 1 | $ 95,000 |
| World Mortgage Bankers 1108 AVE. ROOSEVELT SAN JUAN, PR 00920 |
* | $ 10,000,000 | 1 | $ 105,000 |
| The Mortgage House Inc. 915 ROBERTO SANCHEZ VILELA AVE SAN JUAN, PR 00924 |
* | $ 10,000,000 | 1 | $ 80,000 |
| First Mortgage Capital P.O BOX 550 BAYAMON, PR 00960 |
* | $ 10,000,000 | 1 | $ 145,000 |
| Citifinancial Plus 300 ST. PAUL PLACE BALTIMORE, MD 21202 |
* | $ 279,830,959,000 | 1 | $ 102,000 |
| Pentagon Federal Credit Union 14300 SULLYFIELD CIRCLE CHANTILLY, VA 20151 |
* | $ 11,238,962,000 | 1 | $ 135,000 |
The tables below break down 2008 mortgage applications in Lares Municipio, PR by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Lares Municipio, PR in 2008
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 Improvement | 169 | $5,469,000 | $32,000 | $175,000 | $28,000 | $155,000 |
| Refinancing | 169 | $15,173,000 | $89,000 | $465,000 | $37,000 | $172,000 |
| Home Purchase | 143 | $10,791,000 | $75,000 | $250,000 | $29,000 | $168,000 |
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 | 436 | $27,893,000 | $63,000 | $465,000 | $31,000 | $172,000 |
| Not applicable | 34 | $2,894,000 | $85,000 | $152,000 | $35,000 | $172,000 |
| Not Provided | 7 | $293,000 | $41,000 | $176,000 | $31,000 | $88,000 |
| White | 4 | $353,000 | $88,000 | $135,000 | $62,000 | $110,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 391 | $23,077,000 | $59,000 | $465,000 | $32,000 | $172,000 |
| FHA-insured (Federal Housing Administration) | 64 | $6,316,000 | $98,000 | $237,000 | $31,000 | $104,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 25 | $2,005,000 | $80,000 | $135,000 | $24,000 | $59,000 |
| VA-guaranteed (Veterans Administration) | 1 | $35,000 | $35,000 | $35,000 | $13,000 | $13,000 |
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 |
|---|---|---|---|---|---|---|
| Application Denied By Financial Institution | 181 | $11,081,000 | $61,000 | $305,000 | $29,000 | $129,000 |
| Loan Originated | 163 | $10,464,000 | $64,000 | $465,000 | $36,000 | $172,000 |
| Application Withdrawn By Applicant | 54 | $4,153,000 | $76,000 | $256,000 | $28,000 | $109,000 |
| Loan Purchased By The Institution | 35 | $2,928,000 | $83,000 | $152,000 | $34,000 | $172,000 |
| Application Approved But Not Accepted | 25 | $1,138,000 | $45,000 | $105,000 | $27,000 | $54,000 |
| File Closed For Incompleteness | 23 | $1,669,000 | $72,000 | $167,000 | $33,000 | $88,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 25 | $1,427,000 | $57,000 | $250,000 | $18,000 | $93,000 |
| Credit History | 23 | $1,483,000 | $64,000 | $170,000 | $31,000 | $80,000 |
| Other | 12 | $878,000 | $73,000 | $133,000 | $20,000 | $40,000 |
| Collateral | 11 | $892,000 | $81,000 | $150,000 | $35,000 | $83,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $206,000 | $41,000 | $84,000 | $36,000 | $119,000 |
| Employment History | 4 | $261,000 | $65,000 | $77,000 | $14,000 | $18,000 |
| Unverifiable Information | 2 | $158,000 | $79,000 | $116,000 | $38,000 | $66,000 |
| Credit Application Incomplete | 1 | $72,000 | $72,000 | $72,000 | $24,000 | $24,000 |
| Mortgage Insurance Denied | 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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