Lares Municipio, PR Mortgage Lenders & HMDA Data, 2021
In 2021, lenders reported 102 mortgage applications in Lares Municipio, PR totaling $10.6 million, down 9% from 2020. The average application was for $104,000, and applicants reported an average income of $40,000. 54% of applications resulted in an originated loan and 12% were denied. The most active lender was Sun West Mortgage Company, Inc, with 23 applications, followed by Banco Popular and Cooperativa De A\C Lares.
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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 | 102 |
| Total Mortgage Loan Application Amount | $10,640,000 |
| Average Mortgage Loan Application Amount | $104,000 |
| Highest Mortgage Loan Application Amount | $565,000 |
| Average Applicant Income | $40,000 |
| Highest Applicant Income | $174,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Sun West Mortgage Company, Inc 18000 STUDEBAKER ROAD, SUITE 200 CERRITOS, CA 90703 |
* | $ -1,000 | 23 | $ 2,295,000 |
| Banco Popular PO BOX 362708 SAN JUAN, PR 00936 |
* | $ 41,627,000,000 | 17 | $ 2,175,000 |
| Cooperativa De A\C Lares CARR 111 KM 3.8 AVE LOS PATRIOTAS LARES, PR 00669 |
* | $ -1,000 | 16 | $ 1,280,000 |
| Firstbank PO BOX 9146 SAN JUAN, PR 00908 |
* | $ 12,597,360,000 | 9 | $ 775,000 |
| Oriental Bank PO BOX 195115 SAN JUAN, PR 00919 |
* | $ 9,253,736,000 | 8 | $ 890,000 |
| Cooperativa De Ahorro Y Credito Del Bo. Quebrada De Camuy HC 02 BOX 7873 CAMUY, PR 00627 |
* | $ -1,000 | 5 | $ 305,000 |
| Pentagon Federal Credit Union OMAHA, NE 68164 |
* | $ 24,774,361,000 | 4 | $ 460,000 |
| Capital Mortgage 206 ELEANOR ROOSEVELT SAN JUAN, PR 00918 |
* | $ -1,000 | 3 | $ 305,000 |
| Preferred Mortgage LLC 307 AVE FD ROOSEVELT SAN JUAN, PR 00918 |
* | $ -1,000 | 3 | $ 445,000 |
| The Moneyhouse Inc. #52 CALLE PASEO COVANDONGA SAN JUAN, PR 00901 |
* | $ -1,000 | 2 | $ 210,000 |
| Hr Mortgage Corp M11 CALLE ROBLE, VILLA TURABO CAGUAS, PR 00725 |
* | $ -1,000 | 2 | $ 630,000 |
| Coopaca Mortgage PO BOX 1056 ARECIBO, PR 00613 |
* | $ -1,000 | 2 | $ 190,000 |
| First Equity Mortgage Bankers Inc. 9300 S DADELAND BLVD STE 500 MIAMI, FL 33156 |
* | $ -1,000 | 2 | $ 260,000 |
| The Lending Center Corporation G-8 ONEILL STREET SAN JUAN, PR 00918 |
* | $ -1,000 | 1 | $ 75,000 |
| Equity Prime Mortgage LLC 5 CONCOURSE PKWY, STE 2250 ATLANTA, GA 30328 |
* | $ -1,000 | 1 | $ 75,000 |
| Trust Mortgage Corp. EDIFI EMILIO BACARDI SUITE 101A CALLE JUNIN PARK GARDENS SAN JUAN, PR 00923 |
* | $ -1,000 | 1 | $ 85,000 |
| Planet Home Lending, LLC 321 RESEARCH PARKWAY SUITE 303 MERIDEN, CT 06450 |
* | $ -1,000 | 1 | $ 95,000 |
| Cooperativa De Ac Manati PO BOX 30562 MANATI, PR 00674 |
* | $ -1,000 | 1 | $ 45,000 |
| Actual Mortgage Bankers PO BOX 2808 BAYAMON, PR 00960 |
* | $ -1,000 | 1 | $ 45,000 |
The tables below break down 2021 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 2021
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 | 72 | $7,690,000 | $106,000 | $565,000 | $40,000 | $174,000 |
| Cash-out Refinancing | 15 | $1,455,000 | $97,000 | $265,000 | $39,000 | $112,000 |
| Refinancing | 14 | $1,490,000 | $106,000 | $135,000 | $40,000 | $69,000 |
| Not Applicable | 1 | $5,000 | $5,000 | $5,000 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 0 | $0 | $0 | $0 | $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 | 81 | $8,955,000 | $110,000 | $565,000 | $40,000 | $174,000 |
| Not applicable | 10 | $940,000 | $94,000 | $135,000 | $0 | $0 |
| White | 10 | $650,000 | $65,000 | $115,000 | $35,000 | $67,000 |
| Not Provided | 1 | $95,000 | $95,000 | $95,000 | $47,000 | $47,000 |
| 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) | 37 | $3,205,000 | $86,000 | $205,000 | $42,000 | $112,000 |
| FHA-insured (Federal Housing Administration) | 32 | $3,770,000 | $117,000 | $275,000 | $37,000 | $121,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 27 | $2,405,000 | $89,000 | $135,000 | $30,000 | $65,000 |
| VA-guaranteed (Veterans Administration) | 6 | $1,260,000 | $210,000 | $565,000 | $101,000 | $174,000 |
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 | 55 | $5,925,000 | $107,000 | $565,000 | $38,000 | $174,000 |
| Application Denied By Financial Institution | 12 | $1,430,000 | $119,000 | $265,000 | $46,000 | $79,000 |
| Loan Purchased By The Institution | 10 | $940,000 | $94,000 | $135,000 | $0 | $0 |
| File Closed For Incompleteness | 9 | $685,000 | $76,000 | $115,000 | $50,000 | $112,000 |
| Application Approved But Not Accepted | 8 | $640,000 | $80,000 | $125,000 | $21,000 | $39,000 |
| Application Withdrawn By Applicant | 8 | $1,020,000 | $127,000 | $275,000 | $49,000 | $121,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 85 | $8,905,000 | $104,000 | $565,000 | $39,000 | $174,000 |
| Debt-To-Income Ratio | 6 | $380,000 | $63,000 | $75,000 | $35,000 | $67,000 |
| Collateral | 5 | $655,000 | $131,000 | $265,000 | $55,000 | $79,000 |
| Credit History | 3 | $315,000 | $105,000 | $145,000 | $41,000 | $73,000 |
| Other | 2 | $270,000 | $135,000 | $165,000 | $56,000 | $63,000 |
| Employment History | 1 | $115,000 | $115,000 | $115,000 | $15,000 | $15,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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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