Lares Municipio, PR Mortgage Lenders & HMDA Data, 2009
In 2009, lenders reported 411 mortgage applications in Lares Municipio, PR totaling $26.9 million, down 15% from 2008. The average application was for $65,000, and applicants reported an average income of $29,000. 36% of applications resulted in an originated loan and 29% were denied. The most active lender was R-G Premier Bank of P.R., with 73 applications, followed by Westernbak Puerto Rico and Popular Mortgage, Inc..
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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 | 411 |
| Total Mortgage Loan Application Amount | $26,927,000 |
| Average Mortgage Loan Application Amount | $65,000 |
| Highest Mortgage Loan Application Amount | $218,000 |
| Average Applicant Income | $29,000 |
| Highest Applicant Income | $362,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| R-G Premier Bank of P.R. PO BOX 2510 GUAYNABO, PR 00970 |
* | $ 7,050,076,000 | 73 | $ 6,562,000 |
| Westernbak Puerto Rico PO BOX 1180 MAYAGUEZ, PR 00681 |
* | $ 15,239,790,000 | 59 | $ 1,370,000 |
| Popular Mortgage, Inc. PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 25,691,000,000 | 55 | $ 4,562,000 |
| Banco Popular De Puerto Rico PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 25,522,000,000 | 40 | $ 537,000 |
| Doral Mortgage LLC DORAL FINANCIAL PLAZA, 1451 ROOSEVELT AV SAN JUAN, PR 00921 |
* | $ 11,855,073,000 | 33 | $ 2,358,000 |
| The Mortgage House Inc. 915 ROBERTO SANCHEZ VILELA AVE SAN JUAN, PR 00924 |
* | $ 10,000,000 | 31 | $ 1,853,000 |
| Firstbank Puerto Rico PO BOX 9146 SANTURCE, PR 00908 |
* | $ 18,492,607,000 | 28 | $ 2,357,000 |
| Citibank, N.A. 601 LEXINGTON AVENUE, 20TH FLOOR NEW YORK, NY 10022 |
* | $ 1,227,040,000,000 | 16 | $ 677,000 |
| Santander Financial Services P.O. BOX 362589 SAN JUAN, PR 00936 |
* | $ 8,082,156,000 | 11 | $ 782,000 |
| Firstmortgage PO BOX 9146 SAN JUAN, PR 00908 |
* | $ 9,582,507,000 | 10 | $ 981,000 |
| Scotiabank De Puerto Rico 290 JESUS T. PIN++ERO SAN JUAN, PR 00918 |
* | $ 1,525,092,000 | 10 | $ 869,000 |
| Doral Bank 268 PONCE DE LEON SUITE 910 SAN JUAN, PR 00918 |
* | $ 9,048,489,000 | 9 | $ 719,000 |
| Oriental Bank PO BOX 195115 SAN JUAN, PR 00919 |
* | $ 5,839,415,000 | 6 | $ 547,000 |
| Coop Ahorro Y Credito De Lares AVE.LOS PATRIOTAS C/111 KM 8.3 LARES, PR 00669 |
* | $ 10,000,000 | 6 | $ 494,000 |
| The Moneyhouse Inc. #52 CALLE PASEO COVANDONGA SAN JUAN, PR 00901 |
* | $ 10,000,000 | 3 | $ 191,000 |
| Banco Santander P.O.BOX 362589 SAN JUAN, PR 00936 |
* | $ 7,724,708,000 | 3 | $ 260,000 |
| Rf Mortgage & Investment Corp PO BOX 361309 SAN JUAN, PR 00936 |
* | $ 10,000,000 | 3 | $ 418,000 |
| Advance Mortgage Bankers, Inc. P.O. BOX 50286 TOA BAJA, PR 00950 |
* | $ 15,555,000 | 3 | $ 340,000 |
| Metro Island Mortgage VILLA NEVAREZ PROF. CENTER SUITE 201 RIO PIEDRAS, PR 00927 |
* | $ 10,000,000 | 2 | $ 198,000 |
| Reliable Financial Services PO BOX 21382, MAC F0302-001 SAN JUAN, PR 00928 |
* | $ 481,996,000 | 2 | $ 140,000 |
| Banco Bilbao Vizcaya Argentari 254 MUNOZ RIVERA AVE SAN JUAN, PR 00918 |
* | $ 6,033,316,000 | 1 | $ 153,000 |
| James B. Nutter & Co. 4153 BROADWAY KANSAS CITY, MO 64111 |
* | $ 31,000,000 | 1 | $ 180,000 |
| Cooperativa De Ahorroy Credito PO BOX 608 RINCON, PR 00677 |
* | $ 10,000,000 | 1 | $ 100,000 |
| Cooperativa De Ahorro Y Credito Del Bo. Quebrada De Camuy HC 02 BOX 7873 CAMUY, PR 00627 |
* | $ 10,000,000 | 1 | $ 15,000 |
| Alianza Hipotecaria P.O. BOX 366201 SAN JUAN, PR 00936 |
* | $ 10,000,000 | 1 | $ 101,000 |
| Hispania Mortgage AVE. DEGETAU A-14 BONNEVILLE TERRACE CAGUAS, PR 00725 |
* | $ 1,471,000,000 | 1 | $ 62,000 |
| Emi Equity Mortgage, Inc. 1651 PONCE DE LEON AVE, SUITE 102 SAN JUAN, PR 00909 |
* | $ 10,000,000 | 1 | $ 65,000 |
| Actual Mortgage Bankers PO BOX 2808 BAYAMON, PR 00960 |
* | $ 10,000,000 | 1 | $ 36,000 |
The tables below break down 2009 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 2009
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 | 157 | $13,893,000 | $88,000 | $218,000 | $40,000 | $362,000 |
| Home Purchase | 145 | $10,823,000 | $74,000 | $180,000 | $22,000 | $192,000 |
| Home Improvement | 109 | $2,211,000 | $20,000 | $175,000 | $25,000 | $125,000 |
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 | 342 | $22,898,000 | $66,000 | $218,000 | $32,000 | $362,000 |
| Not applicable | 62 | $3,843,000 | $61,000 | $125,000 | $17,000 | $131,000 |
| Not Provided | 6 | $120,000 | $20,000 | $93,000 | $25,000 | $48,000 |
| White | 1 | $66,000 | $66,000 | $66,000 | $33,000 | $33,000 |
| 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) | 259 | $14,513,000 | $56,000 | $218,000 | $34,000 | $362,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 78 | $6,324,000 | $81,000 | $153,000 | $18,000 | $53,000 |
| FHA-insured (Federal Housing Administration) | 74 | $6,090,000 | $82,000 | $180,000 | $27,000 | $80,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 149 | $9,974,000 | $66,000 | $216,000 | $32,000 | $131,000 |
| Application Denied By Financial Institution | 118 | $6,501,000 | $55,000 | $218,000 | $27,000 | $121,000 |
| Loan Purchased By The Institution | 70 | $4,668,000 | $66,000 | $165,000 | $19,000 | $131,000 |
| Application Withdrawn By Applicant | 43 | $3,649,000 | $84,000 | $218,000 | $47,000 | $362,000 |
| File Closed For Incompleteness | 23 | $1,496,000 | $65,000 | $128,000 | $24,000 | $65,000 |
| Application Approved But Not Accepted | 8 | $639,000 | $79,000 | $189,000 | $44,000 | $113,000 |
| 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 | 22 | $1,201,000 | $54,000 | $175,000 | $32,000 | $121,000 |
| Debt-To-Income Ratio | 17 | $673,000 | $39,000 | $153,000 | $28,000 | $110,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 7 | $229,000 | $32,000 | $78,000 | $15,000 | $24,000 |
| Collateral | 5 | $384,000 | $76,000 | $134,000 | $34,000 | $53,000 |
| Other | 3 | $15,000 | $5,000 | $7,000 | $11,000 | $13,000 |
| Unverifiable Information | 2 | $46,000 | $23,000 | $40,000 | $29,000 | $30,000 |
| Employment History | 1 | $41,000 | $41,000 | $41,000 | $15,000 | $15,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| 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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