Sabana Grande Municipio, PR Mortgage Lenders & HMDA Data, 2007

In 2007, lenders reported 758 mortgage applications in Sabana Grande Municipio, PR totaling $46.7 million, down 14% from 2006. The average application was for $61,000, and applicants reported an average income of $32,000. 46% of applications resulted in an originated loan and 28% were denied. The most active lender was Banco Popular De Puerto Rico, with 133 applications, followed by Popular Mortgage, Inc. and Westernbak Puerto Rico.

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Total Number of Mortgage Applications 758
Total Mortgage Loan Application Amount $46,712,000
Average Mortgage Loan Application Amount $61,000
Highest Mortgage Loan Application Amount $560,000
Average Applicant Income $32,000
Highest Applicant Income $366,000
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Top Mortgage Lenders in Sabana Grande Municipio, PR (2007)

Ranked by the number of mortgage applications each lender reported in Sabana Grande Municipio, PR in 2007.

# Mortgage Lender Mortgage Applications Total Dollar Amount Average Loan Amount Average Applicant Income
1 Banco Popular De Puerto Rico
San Juan, PR
133 $1,611,000 $12,000 $31,000
2 Popular Mortgage, Inc.
San Juan, PR
119 $12,822,000 $107,000 $37,000
3 Westernbak Puerto Rico
Mayaguez, PR
109 $3,968,000 $36,000 $27,000
4 R & G Mortgage Corporation
San Juan, PR
61 $5,535,000 $90,000 $35,000
5 Doral Mortgage LLC
San Juan, PR
38 $3,350,000 $88,000 $40,000
6 Citibank, N.A.
New York, NY
37 $509,000 $13,000 $16,000
7 Citimortgage, Inc
New York, NY
34 $2,592,000 $76,000 $42,000
8 Santander Financial Services
San Juan, PR
32 $1,975,000 $61,000 $25,000
9 Banco Santander
San Juan, PR
29 $642,000 $22,000 $25,000
10 R-G Premier Bank of P.R.
Guaynabo, PR
27 $1,903,000 $70,000 $39,000

See every lender active in Sabana Grande Municipio, PR in 2007 »

The tables below break down 2007 mortgage applications in Sabana Grande 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 Sabana Grande Municipio, PR in 2007

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 302 $6,192,000 $20,000 $204,000 $27,000 $284,000
Home Purchase 231 $22,994,000 $99,000 $560,000 $38,000 $218,000
Refinancing 225 $17,526,000 $77,000 $250,000 $34,000 $366,000

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 676 $41,027,000 $60,000 $560,000 $33,000 $315,000
Not applicable 61 $4,917,000 $80,000 $206,000 $26,000 $366,000
Not Provided 13 $96,000 $7,000 $20,000 $19,000 $43,000
White 8 $672,000 $84,000 $200,000 $41,000 $97,000
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) 652 $36,037,000 $55,000 $560,000 $33,000 $366,000
FHA-insured (Federal Housing Administration) 55 $5,494,000 $99,000 $198,000 $33,000 $95,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 44 $4,458,000 $101,000 $143,000 $28,000 $63,000
VA-guaranteed (Veterans Administration) 7 $723,000 $103,000 $133,000 $37,000 $48,000

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 347 $20,784,000 $59,000 $417,000 $33,000 $170,000
Application Denied By Financial Institution 214 $10,360,000 $48,000 $247,000 $27,000 $315,000
Application Withdrawn By Applicant 81 $6,498,000 $80,000 $206,000 $34,000 $105,000
Loan Purchased By The Institution 71 $5,636,000 $79,000 $206,000 $28,000 $366,000
Application Approved But Not Accepted 26 $1,452,000 $55,000 $163,000 $48,000 $186,000
File Closed For Incompleteness 19 $1,982,000 $104,000 $560,000 $59,000 $218,000
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 46 $1,727,000 $37,000 $135,000 $22,000 $56,000
Debt-To-Income Ratio 26 $974,000 $37,000 $170,000 $20,000 $60,000
Collateral 8 $1,192,000 $149,000 $247,000 $93,000 $315,000
Other 6 $462,000 $77,000 $150,000 $22,000 $33,000
Insufficient Cash (Downpayment, Closing Cost) 4 $56,000 $14,000 $52,000 $12,000 $18,000
Credit Application Incomplete 4 $253,000 $63,000 $86,000 $17,000 $27,000
Employment History 1 $85,000 $85,000 $85,000 $14,000 $14,000
Unverifiable Information 1 $5,000 $5,000 $5,000 $7,000 $7,000
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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