Puerto Rico
Mortgage Loan Application
Totals and Details
in 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 55,699
Total Mortgage Loan Application Amount $4,964,338,000
Average Mortgage Loan Application Amount $89,000
Highest Mortgage Loan Application Amount $16,845,000
Average Applicant Income $46,000
Highest Applicant Income $9,999,000
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Mortgage Loan Application Detail Totals for Puerto Rico in 2016

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 21,279 $2,732,038,000 $128,000 $16,845,000 $53,000 $4,373,000
Home Improvement 19,260 $317,308,000 $16,000 $1,300,000 $33,000 $8,359,000
Refinancing 15,160 $1,914,992,000 $126,000 $4,280,000 $53,000 $9,999,000

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 48,088 $4,051,537,000 $84,000 $4,280,000 $46,000 $8,359,000
Not applicable 6,024 $720,386,000 $119,000 $16,845,000 $27,000 $9,999,000
White 764 $146,131,000 $191,000 $4,600,000 $166,000 $4,127,000
Not Provided 703 $27,854,000 $39,000 $1,249,000 $39,000 $2,147,000
Black or African American 68 $7,607,000 $111,000 $1,472,000 $78,000 $412,000
Asian 36 $6,087,000 $169,000 $651,000 $133,000 $800,000
American Indian or Alaskan Native 14 $4,147,000 $296,000 $1,102,000 $128,000 $694,000
Native Hawaiin or Other Pacific Islander 2 $589,000 $294,000 $335,000 $102,000 $113,000

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) 33,739 $2,250,625,000 $66,000 $16,845,000 $54,000 $9,999,000
FHA-insured (Federal Housing Administration) 15,346 $1,861,252,000 $121,000 $2,764,000 $34,000 $1,168,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 4,072 $451,120,000 $110,000 $374,000 $28,000 $130,000
VA-guaranteed (Veterans Administration) 2,542 $401,341,000 $157,000 $654,000 $43,000 $786,000

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 26,124 $2,513,823,000 $96,000 $16,845,000 $52,000 $4,846,000
Application Denied By Financial Institution 16,045 $936,468,000 $58,000 $1,480,000 $38,000 $8,359,000
Loan Purchased By The Institution 6,103 $706,672,000 $115,000 $12,153,000 $25,000 $9,999,000
Application Withdrawn By Applicant 3,683 $457,995,000 $124,000 $1,472,000 $61,000 $4,373,000
Application Approved But Not Accepted 1,945 $122,989,000 $63,000 $1,332,000 $51,000 $2,236,000
File Closed For Incompleteness 1,799 $226,391,000 $125,000 $1,088,000 $59,000 $2,147,000
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 1,091 $106,903,000 $97,000 $610,000 $45,000 $925,000
Debt-To-Income Ratio 690 $84,837,000 $122,000 $1,480,000 $45,000 $382,000
Collateral 690 $81,432,000 $118,000 $1,200,000 $52,000 $638,000
Other 462 $57,336,000 $124,000 $565,000 $55,000 $645,000
Employment History 127 $15,108,000 $118,000 $500,000 $45,000 $253,000
Insufficient Cash (Downpayment, Closing Cost) 80 $10,763,000 $134,000 $982,000 $60,000 $827,000
Credit Application Incomplete 59 $8,784,000 $148,000 $870,000 $62,000 $565,000
Unverifiable Information 24 $3,146,000 $131,000 $258,000 $52,000 $156,000
Mortgage Insurance Denied 9 $1,494,000 $166,000 $268,000 $80,000 $166,000
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Mortgage Loan Application Totals in 2016 by Puerto Rico Metropolitan Area

Metro Area Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Aguadilla-Isabela-San Sebastian, Pr 3,761 $ 292,408,000 $ 77,000 $ 45,000
Arecibo, Pr 2,438 $ 176,500,000 $ 72,000 $ 34,000
Guayama, Pr 1,173 $ 57,738,000 $ 49,000 $ 34,000
Mayagnez, Pr 1,051 $ 77,195,000 $ 73,000 $ 40,000
Ponce, Pr 4,023 $ 268,187,000 $ 66,000 $ 35,000
San German-Cabo Rojo, Pr 1,943 $ 143,052,000 $ 73,000 $ 44,000
San Juan-Caguas-Guaynabo, Pr 39,375 $ 3,825,313,000 $ 97,000 $ 49,000
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Mortgage Loan Application Totals in 2016 by Puerto Rico County

County Total Number of Mortgage Loan Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Application Amount Average Applicant Income
Adjuntas 110 $ 6,056,000 $ 55,000 $ 38,000
Aguada 454 $ 30,338,000 $ 66,000 $ 43,000
Aguadilla 860 $ 78,511,000 $ 91,000 $ 50,000
Aguas Buenas 367 $ 17,612,000 $ 47,000 $ 29,000
Aibonito 352 $ 27,815,000 $ 79,000 $ 41,000
Anasco 291 $ 18,905,000 $ 64,000 $ 33,000
Arecibo 1,300 $ 86,957,000 $ 66,000 $ 34,000
Arroyo 307 $ 14,099,000 $ 45,000 $ 28,000
Barceloneta 463 $ 35,251,000 $ 76,000 $ 29,000
Barranquitas 264 $ 15,440,000 $ 58,000 $ 32,000
Bayamon 3,776 $ 330,368,000 $ 87,000 $ 36,000
Cabo Rojo 947 $ 85,612,000 $ 90,000 $ 53,000
Caguas 2,680 $ 246,714,000 $ 92,000 $ 43,000
Camuy 432 $ 34,000,000 $ 78,000 $ 33,000
Canovanas 819 $ 70,090,000 $ 85,000 $ 38,000
Carolina 3,352 $ 308,339,000 $ 91,000 $ 44,000
Catano 346 $ 26,467,000 $ 76,000 $ 34,000
Cayey 737 $ 58,214,000 $ 78,000 $ 40,000
Ceiba 258 $ 17,159,000 $ 66,000 $ 35,000
Ciales 160 $ 10,623,000 $ 66,000 $ 26,000
Cidra 770 $ 60,419,000 $ 78,000 $ 48,000
Coamo 528 $ 35,734,000 $ 67,000 $ 37,000
Comerio 192 $ 8,066,000 $ 42,000 $ 24,000
Corozal 467 $ 26,397,000 $ 56,000 $ 27,000
Culebra 36 $ 3,935,000 $ 109,000 $ 124,000
Dorado 785 $ 154,920,000 $ 197,000 $ 114,000
Fajardo 800 $ 55,048,000 $ 68,000 $ 39,000
Florida 188 $ 11,775,000 $ 62,000 $ 27,000
Guanica 183 $ 9,774,000 $ 53,000 $ 28,000
Guayama 589 $ 30,658,000 $ 52,000 $ 40,000
Guayanilla 220 $ 8,279,000 $ 37,000 $ 29,000
Guaynabo 1,921 $ 320,588,000 $ 166,000 $ 78,000
Gurabo 989 $ 105,415,000 $ 106,000 $ 46,000
Hatillo 449 $ 37,435,000 $ 83,000 $ 37,000
Hormigueros 243 $ 15,739,000 $ 64,000 $ 31,000
Humacao 1,143 $ 117,745,000 $ 103,000 $ 67,000
Isabela 618 $ 52,107,000 $ 84,000 $ 48,000
Jayuya 141 $ 7,380,000 $ 52,000 $ 32,000
Juana Diaz 699 $ 55,765,000 $ 79,000 $ 34,000
Juncos 794 $ 52,878,000 $ 66,000 $ 29,000
Lajas 289 $ 19,086,000 $ 66,000 $ 43,000
Lares 190 $ 11,911,000 $ 62,000 $ 34,000
Las Marias 44 $ 2,278,000 $ 51,000 $ 28,000
Las Piedras 885 $ 78,443,000 $ 88,000 $ 33,000
Loiza 373 $ 22,320,000 $ 59,000 $ 38,000
Luquillo 509 $ 42,298,000 $ 83,000 $ 64,000
Manati 614 $ 48,323,000 $ 78,000 $ 38,000
Maricao 56 $ 1,269,000 $ 22,000 $ 22,000
Maunabo 137 $ 7,155,000 $ 52,000 $ 34,000
Mayaguez 808 $ 61,456,000 $ 76,000 $ 43,000
Moca 396 $ 23,730,000 $ 59,000 $ 32,000
Morovis 469 $ 26,635,000 $ 56,000 $ 27,000
Naguabo 358 $ 19,922,000 $ 55,000 $ 27,000
Naranjito 290 $ 14,036,000 $ 48,000 $ 29,000
Orocovis 304 $ 9,884,000 $ 32,000 $ 24,000
Patillas 277 $ 12,981,000 $ 46,000 $ 29,000
Penuelas 249 $ 12,425,000 $ 49,000 $ 35,000
Ponce 1,999 $ 142,573,000 $ 71,000 $ 38,000
Quebradillas 257 $ 18,108,000 $ 70,000 $ 34,000
Rincon 258 $ 35,008,000 $ 135,000 $ 106,000
Rio Grande 1,115 $ 111,797,000 $ 100,000 $ 57,000
Sabana Grande 349 $ 17,610,000 $ 50,000 $ 32,000
Salinas 425 $ 20,844,000 $ 49,000 $ 27,000
San German 358 $ 20,744,000 $ 57,000 $ 33,000
San Juan 5,722 $ 775,497,000 $ 135,000 $ 72,000
San Lorenzo 641 $ 37,781,000 $ 58,000 $ 29,000
San Sebastian 377 $ 25,717,000 $ 68,000 $ 33,000
Santa Isabel 458 $ 34,584,000 $ 75,000 $ 32,000
Toa Alta 1,475 $ 163,108,000 $ 110,000 $ 46,000
Toa Baja 1,439 $ 105,877,000 $ 73,000 $ 33,000
Trujillo Alto 1,178 $ 119,701,000 $ 101,000 $ 56,000
Utuado 318 $ 16,299,000 $ 51,000 $ 29,000
Vega Alta 729 $ 66,400,000 $ 91,000 $ 61,000
Vega Baja 1,041 $ 78,809,000 $ 75,000 $ 32,000
Vieques 131 $ 10,796,000 $ 82,000 $ 77,000
Villalba 229 $ 11,757,000 $ 51,000 $ 35,000
Yabucoa 473 $ 19,984,000 $ 42,000 $ 26,000
Yauco 444 $ 27,614,000 $ 62,000 $ 33,000
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