Puerto Rico mortgage lenders: applications, originations, denial rate and counties, 2024

States › Puerto Rico

HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Record year 2024.

Puerto Rico had 19,822 HMDA-reported mortgage applications and 13,068 originations ($2.5bn) in 2024, from 48 lenders with at least 25 applications in the state.

The statewide denial rate was 20.5% (national 24.3%) and the median rate spread 0.2 percentage points (national 0.3). Originations ran at 10.1 per 1,000 households, against 48.0 nationally.

Originations in the state went from 12,627 in 2018 to 13,068 in 2024; the denial rate moved from 26.2% to 20.5%.

The most active lenders by originations were Banco Popular (2,445), Firstbank (1,870) and The Moneyhouse Inc. (1,213).

19,822applications, 2024

13,068loans originated$2.5bn

20.5%denial rateUS 24.3%

10.1originations per 1,000 householdsUS 48.0

Most active lenders in Puerto Rico

#	Lender	Applications	Originations	Amount	Denial rate	Median spread
1	Banco Popular	3,755	2,445	$629m	24.5%	-0.1
2	Firstbank	3,059	1,870	$369m	25.7%	-0.3
3	The Moneyhouse Inc.	1,587	1,213	$175m	14.4%	-0.6
4	Oriental Bank	1,753	860	$156m	32.6%	-0.3
5	First Equity Mortgage Bankers Inc.	1,320	756	$150m	24.4%	0.8
6	Metro Island Mortgage	515	503	$80m	0.2%	0.6
7	Hr Mortgage Corp	672	471	$55m	24.8%	0.9
8	Home Mortgage Bankers	630	462	$62m	1.3%	—
9	Preferred Mortgage Corporation	647	450	$66m	18.2%	0.8
10	Trust Mortgage Corp.	495	355	$51m	13.0%	0.5
11	Sun West Mortgage Company, Inc	530	287	$42m	13.8%	0.7
12	Pentagon Federal Credit Unioin	479	269	$68m	36.3%	-0.1
13	RF Mortgage & Investment Corp	321	261	$49m	10.5%	0.9
14	Actual Mortgage Bankers	337	249	$32m	13.6%	0.8
15	VIG Mortgage	305	219	$32m	14.6%	1.0
16	EMI Equity Mortgage, Inc.	289	214	$31m	17.9%	1.3
17	Coop. de A/C La Puertorriqueña	196	153	$22m	2.5%	1.2
18	Capital Mortgage	262	150	$29m	27.3%	1.7
19	Multiples Mortgage Corp.	193	143	$22m	8.9%	0.9
20	Senior Mortgage Banker	183	122	$20m	17.6%	1.0
21	Cooperativa de A/C Isabela	156	122	$17m	10.5%	—
22	Cooperativa De Ac Rincon	138	113	$16m	2.6%	-0.5
23	Cooperativa De A/C Camuy	146	109	$17m	8.3%	0.6
24	Crosscountry Mortgage, LLC	176	105	$28m	15.3%	0.8
25	Cooperativa De Ac Arecibo	131	88	$13m	20.7%	—
26	Cooperativa de A\C Oriental	129	86	$9.3m	19.4%	-0.1
27	Vegacoop	118	80	$9.6m	5.9%	—
28	Cooperativa La Sagrada Familia	102	78	$10m	8.2%	-0.1
29	Cooperativa de AC Manati	99	73	$11m	6.4%	1.0
30	Latin American Financlal	87	66	$9.7m	15.4%	—
31	The Lending Center Corporation	81	60	$7.5m	9.1%	—
32	Caribe Federal Credit Union	84	47	$6.6m	40.5%	0.8
33	Calcon Mutual Mortgage LLC	75	46	$23m	9.8%	0.8
34	Everett Financial, Inc.	54	39	$8.6m	22.0%	1.3
35	Caguas Coop	41	39	$4.6m	2.5%	1.1
36	Medicoop	39	39	$15m	0.0%	—
37	Cooperativa A/C Cabo Rojo	39	37	$5.1m	2.6%	0.6
38	Cooperativa de A\C Lares	53	36	$2.9m	14.3%	—
39	Cooperativa de AC Hatillo	34	34	$6.0m	0.0%	—
40	Cooperativa de Ahorro y Credito del Bo. Quebrada de Camuy	33	33	$3.5m	0.0%	—
41	Equity Prime Mortgage LLC	42	29	$8.6m	0.0%	0.3
42	Cooperativa de AC Jesus Obrero	40	26	$2.9m	18.2%	—
43	COOPERATIVA DE Ac MAUNABO	38	22	$3.8m	27.3%	—
44	New American Funding, LLC.	33	22	$5.7m	21.4%	—
45	Baxter Credit Union	50	21	$14m	39.6%	—
46	Cooperativa de AC Las Piedras	36	21	$2.3m	16.0%	—
47	Cooperativa de A\C Roosvelt R	29	15	$1.2m	—	—
48	Planet Home Lending, LLC	28	8	$1.5m	69.2%	—

Top 48 of 48 lenders with at least 25 applications in the state, by originations. 28 lenders have 100 or more applications here and link to a state-specific page.

Compared with the nation

Measure	Puerto Rico	United States
Denial rate	20.5%	24.3%
Median rate spread, pp	0.2	0.3
Originations with spread of 1.5 pp or more	9.8%	15.6%
Average originated loan	$188k	$329k
Originations per 1,000 households	10.1	48.0
Home purchase share of originations	86.9%	57.0%
FHA-insured share	43.4%	13.4%
VA-guaranteed share	6.1%	7.9%

Trend, 2018–2024

ApplicationsOriginations

Applications and originations in Puerto Rico by year

Puerto RicoUnited States

Denial rate by year, US dashed

FHA share of originationsVA share

FHA-insured and VA-guaranteed shares of originations in Puerto Rico by year

Year	Applications	Originations	Amount	Denial rate	FHA	VA	Refinance share
2018	21,010	12,627	$1.7bn	26.2%	36.5%	6.0%	18.3%
2019	22,390	13,955	$2.0bn	23.1%	37.6%	6.2%	17.1%
2020	24,994	15,396	$2.6bn	21.4%	36.4%	6.1%	29.5%
2021	33,968	21,197	$3.4bn	21.0%	32.3%	5.1%	29.5%
2022	25,907	15,766	$2.6bn	21.7%	34.9%	4.9%	15.9%
2023	20,490	13,550	$2.2bn	20.3%	41.0%	5.3%	8.1%
2024	19,822	13,068	$2.5bn	20.5%	43.4%	6.1%	10.6%

Yearly figures from the HMDA Data Browser aggregations for the state (all reporters).

Loan purpose and loan type, 2024

By purpose

Home purchase 87% (11,361)Home improvement 1% (108)Refinancing 2% (294)Cash-out refinancing 8% (1,086)Other purpose 2% (219)

By type

Conventional 41% (5,358)FHA 43% (5,665)VA 6% (800)USDA 10% (1,245)

Counties

County	Applications	Originations	Per 1,000 households	Denial rate	Median spread	Lenders
San Juan Municipio	2,554	1,660	10.8	22.1%	0.2	20
Bayamón Municipio	1,638	1,158	15.6	18.1%	0.3	15
Carolina Municipio	1,328	886	13.6	19.9%	0.2	15
Caguas Municipio	963	665	13.0	20.0%	0.2	11
Guaynabo Municipio	825	563	15.5	18.9%	-0.1	7
Ponce Municipio	671	417	7.5	22.9%	0.0	6
Toa Baja Municipio	541	360	12.0	20.0%	0.2	9
Toa Alta Municipio	468	317	13.2	18.5%	0.1	5
Trujillo Alto Municipio	455	310	11.4	17.9%	0.1	5
Gurabo Municipio	419	308	19.4	17.2%	-0.1	5
Arecibo Municipio	462	290	8.7	21.9%	0.2	4
Humacao Municipio	435	284	14.0	20.9%	0.2	6
Río Grande Municipio	414	283	16.5	17.5%	0.3	4
Cabo Rojo Municipio	384	275	14.4	18.0%	-0.0	4
Fajardo Municipio	367	247	18.8	20.4%	0.4	4
Vega Baja Municipio	371	236	10.9	20.5%	0.2	3
Dorado Municipio	337	222	17.4	18.1%	-0.0	3
Juncos Municipio	305	205	14.2	18.9%	-0.1	4
Aguadilla Municipio	318	201	9.0	21.7%	-0.1	4
Canóvanas Municipio	285	190	12.0	22.1%	0.1	4
Mayagüez Municipio	282	180	6.0	25.4%	-0.2	4
Isabela Municipio	256	169	11.3	19.5%	0.1	3
Las Piedras Municipio	231	163	12.5	15.1%	0.0	3
Cayey Municipio	250	156	9.2	19.6%	-0.1	3
Manatí Municipio	223	155	10.0	15.4%	0.4	2
Vega Alta Municipio	201	131	9.3	23.1%	0.2	2
Barceloneta Municipio	172	120	13.3	18.1%	0.3	1
Cidra Municipio	190	119	7.9	18.5%	-0.0	3
Hatillo Municipio	185	117	8.6	24.1%	0.1	1
San Sebastián Municipio	165	112	7.7	17.5%	0.0	2
Luquillo Municipio	176	111	15.9	24.8%	0.4	2
Guayama Municipio	172	105	6.6	23.1%	0.1	0
Juana Díaz Municipio	153	99	6.0	20.0%	0.4	1
Loíza Municipio	136	99	10.9	12.8%	0.6	1
Camuy Municipio	148	98	7.9	20.8%	0.4	1
San Lorenzo Municipio	164	95	6.6	23.3%	0.4	1
Naguabo Municipio	136	91	10.6	21.8%	0.5	0
Rincón Municipio	149	90	15.4	25.0%	-0.1	2
San Germán Municipio	122	79	6.7	19.8%	0.1	1
Aguada Municipio	117	77	5.9	23.8%	-0.3	2
Coamo Municipio	137	77	5.6	28.1%	0.2	2
Ceiba Municipio	105	74	16.7	18.3%	0.3	0
Cataño Municipio	105	73	7.9	18.5%	0.2	0
Quebradillas Municipio	110	72	8.5	21.1%	0.2	1
Sabana Grande Municipio	89	66	8.1	12.7%	-0.2	1
Yabucoa Municipio	99	65	5.3	20.5%	0.4	0
Morovis Municipio	88	61	5.6	15.1%	0.4	0
Salinas Municipio	115	61	5.7	24.4%	0.3	0
Corozal Municipio	105	60	5.2	30.3%	0.4	1
Yauco Municipio	96	60	4.5	21.3%	0.1	0
Naranjito Municipio	85	58	6.3	14.3%	0.4	0
Arroyo Municipio	106	56	8.3	35.2%	0.1	0
Aguas Buenas Municipio	86	55	6.2	21.6%	0.4	0
Lares Municipio	86	54	5.0	24.7%	0.1	0
Moca Municipio	81	54	3.9	14.9%	0.2	0
Santa Isabel Municipio	90	54	7.2	25.3%	0.6	0
Aibonito Municipio	77	46	4.7	23.0%	0.2	0
Hormigueros Municipio	74	46	7.4	22.2%	-0.1	0
Patillas Municipio	78	45	7.0	22.6%	-0.1	0
Lajas Municipio	71	44	5.0	21.1%	-0.3	0
Barranquitas Municipio	74	43	4.3	18.2%	0.2	0
Utuado Municipio	66	38	3.4	19.2%	0.3	0
Florida Municipio	50	35	7.4	12.2%	1.0	0
Añasco Municipio	59	32	3.4	26.5%	-0.1	0
Peñuelas Municipio	54	32	4.6	19.0%	-0.3	0
Vieques Municipio	57	32	10.2	23.3%	—	0
Comerío Municipio	48	29	4.7	25.6%	—	0
Guánica Municipio	46	27	4.7	28.9%	-0.1	0
Orocovis Municipio	45	27	3.8	30.8%	—	0
Maunabo Municipio	45	25	5.9	24.2%	—	0
Ciales Municipio	43	23	4.0	25.8%	—	0
Guayanilla Municipio	36	19	3.0	28.6%	—	0
Jayuya Municipio	21	14	2.7	—	—	0
Villalba Municipio	27	13	1.7	—	—	0
Adjuntas Municipio	30	11	1.8	46.2%	—	0
Las Marías Municipio	20	10	3.2	—	—	0
Maricao Municipio	6	2	1.1	—	—	0
Culebra Municipio	6	1	1.9	—	—	0

By originations. Lenders: those with at least 25 applications in the county.

VA-guaranteed loans by month

VA publishes lender volume nationally, not by state; see the Aug 2026 VA lender table and the monthly series. The VA-guaranteed share of Puerto Rico originations by year is charted above from HMDA.

Questions and answers

Which mortgage lenders are most active in Puerto Rico?

By 2024 originations: Banco Popular (2,445), Firstbank (1,870), The Moneyhouse Inc. (1,213), Oriental Bank (860), First Equity Mortgage Bankers Inc. (756). 48 lenders had at least 25 applications in the state.

What is the mortgage denial rate in Puerto Rico?

20.5% of decided applications were denied in 2024, against 24.3% nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.

How has mortgage lending in Puerto Rico changed since 2018?

Originations went from 12,627 in 2018 to 13,068 in 2024; the denial rate moved from 26.2% to 20.5%.

Where does this data come from?

From the public HMDA loan/application register (FFIEC and CFPB) for 2024, the HMDA Data Browser aggregations for 2018–2024, and Census Bureau household estimates.

Provenance

Source: HMDA public loan/application register 2022, 2023, 2024 and Data Browser aggregations 2018–2024 (FFIEC and CFPB, public domain); households from the Census Bureau ACS 2024 five-year estimates. Built 30 Sep 2026; data through 1 Aug 2026.