Naranjito Municipio, PR Mortgage Lenders & HMDA Data, 2003

In 2003, lenders reported 958 mortgage applications in Naranjito Municipio, PR totaling $47.3 million. The average application was for $49,000, and applicants reported an average income of $40,000. 39% of applications resulted in an originated loan and 37% were denied. The most active lender was Banco Popular De Puerto Rico, with 266 applications, followed by Banco Santander and Associates International Hold.

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Total Number of Mortgage Applications 958
Total Mortgage Loan Application Amount $47,308,000
Average Mortgage Loan Application Amount $49,000
Highest Mortgage Loan Application Amount $300,000
Average Applicant Income $40,000
Highest Applicant Income $348,000
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Top Mortgage Lenders in Naranjito Municipio, PR (2003)

Ranked by the number of mortgage applications each lender reported in Naranjito Municipio, PR in 2003.

# Mortgage Lender Mortgage Applications Total Dollar Amount Average Loan Amount Average Applicant Income
1 Banco Popular De Puerto Rico
San Juan, PR
266 $3,141,000 $11,000 $26,000
2 Banco Santander
San Juan, PR
99 $1,928,000 $19,000 $18,000
3 Associates International Hold
Long Island City, NY
82 $2,540,000 $30,000 $34,000
4 Doral Mortgage Corp.
1451 Roosevelt Ave S.J., PR
81 $6,131,000 $75,000 $34,000
5 Popular Mortgage, Inc.
San Juan, PR
70 $7,321,000 $104,000 $48,000
6 R & G Mortgage Corporation
San Juan, PR
65 $5,635,000 $86,000 $30,000
7 Firstbank Puerto Rico
Santurce, PR
45 $3,236,000 $71,000 $42,000
8 Hf Mortgage Bankers
San Juan, PR
42 $3,886,000 $92,000 $43,000
9 R-G Premier Bank of P.R.
Guaynabo, PR
40 $3,309,000 $82,000 $37,000
10 Citibank, N.A.
New York, NY
30 $327,000 $10,000 $25,000

See every lender active in Naranjito Municipio, PR in 2003 »

The tables below break down 2003 mortgage applications in Naranjito 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 Naranjito Municipio, PR in 2003

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 (home purchase or home improvement, one-to-four family) 432 $32,440,000 $75,000 $300,000 $43,000 $348,000
Home Improvement (one-to-four family) 412 $5,009,000 $12,000 $144,000 $27,000 $221,000
Home Purchase (one-to-four family) 114 $9,859,000 $86,000 $225,000 $42,000 $174,000
Multifamily dwelling (home purchase, home improvement, and refinancings) 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 799 $41,091,000 $51,000 $272,000 $41,000 $348,000
Information not provided by applicant in mail or telephone application 96 $2,430,000 $25,000 $300,000 $45,000 $240,000
Not applicable 44 $3,411,000 $77,000 $160,000 $10,000 $145,000
White 15 $241,000 $16,000 $125,000 $27,000 $77,000
Black 2 $122,000 $61,000 $114,000 $27,000 $39,000
American Indian or Alaskan Native 1 $5,000 $5,000 $5,000 $10,000 $10,000
Other 1 $8,000 $8,000 $8,000 $29,000 $29,000
Asian or 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) 916 $43,622,000 $47,000 $300,000 $41,000 $348,000
FHA-insured (Federal Housing Administration) 38 $3,235,000 $85,000 $135,000 $27,000 $77,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 3 $334,000 $111,000 $145,000 $47,000 $65,000
VA-guaranteed (Veterans Administration) 1 $117,000 $117,000 $117,000 $19,000 $19,000

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 369 $21,940,000 $59,000 $272,000 $44,000 $348,000
Application Denied By Financial Institution 354 $8,241,000 $23,000 $240,000 $31,000 $302,000
Loan Purchased By The Institution 86 $6,180,000 $71,000 $182,000 $26,000 $145,000
File Closed For Incompleteness 55 $4,431,000 $80,000 $223,000 $48,000 $174,000
Application Approved But Not Accepted 49 $2,773,000 $56,000 $221,000 $47,000 $140,000
Application Withdrawn By Applicant 45 $3,743,000 $83,000 $300,000 $53,000 $240,000

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 93 $2,926,000 $31,000 $240,000 $36,000 $302,000
Debt-To-Income Ratio 22 $323,000 $14,000 $50,000 $20,000 $113,000
Collateral 21 $990,000 $47,000 $104,000 $35,000 $63,000
Other 19 $408,000 $21,000 $100,000 $27,000 $63,000
Insufficient Cash (Downpayment, Closing Cost) 5 $155,000 $31,000 $50,000 $53,000 $106,000
Credit Application Incomplete 5 $392,000 $78,000 $200,000 $39,000 $63,000
Employment History 3 $21,000 $7,000 $10,000 $16,000 $24,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0
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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