PlainLender

FIRSTBANK

San Juan, PR

FIRSTBANK processed 3,534 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,160 loans with a 19.8% denial rate. Home Purchase was the primary loan purpose. Based in San Juan, PR. The approval rate of 61.1% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. FIRSTBANK processed 3,534 HMDA-reported mortgage applications in 2024, originating 2,160 loans and denying 699 for a denial rate of 19.8% (applicants themselves withdrew 407 files before a decision). The average loan amount was $201,336 at a 5.919% average note rate, and applicants self-reported an average income of $36,000. The lender reports under LEI 549300WWJ28EP3GZG107 from San Juan, PR.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. FIRSTBANK's 61.1% origination rate tells you how often an application turned into funded money; the 19.8% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Collateral, Debt-to-income ratio, Insufficient cash, which together explain the majority of rejections. Most activity concentrated in Conventional loans (2,091 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

3,534
Applications
2,160
Originated
19.8%
Denial Rate
$201,336
Avg Loan Amount
Avg Interest Rate: 5.919% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 2,091 1,429 345 $226,559
FHA 1,072 539 267 $158,442
USDA 200 98 55 $153,350
VA 171 94 32 $217,924

Top loan types — FIRSTBANK

Top loan types — FIRSTBANK Horizontal bar chart of the top 4 items by value (applications). Top loan types — FIRSTBANK Top 4 1. Conventional 2,091 2. FHA 1,072 3. USDA 200 4. VA 171 Top 5 loan types by application volume at FIRSTBANK (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for FIRSTBANK (LEI: 549300WWJ28EP3GZG107) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Collateral
259
Debt-to-income ratio
230
Insufficient cash
150
Credit history
142
Unverifiable information
106
Other
95
Employment history
39
Mortgage insurance denied
34

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 2,947 1,911 $206,642
Cash-out Refinancing 260 137 $200,500
Other 121 57 $146,322
Refinancing 63 33 $341,508
Home Improvement 51 22 $158,922

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 3,110 62.7% 20.3%
Black or African American 193 63.7% 22.8%
Joint 59 66.1% 23.7%
Asian 18 72.2% 11.1%
2 or more minority races 2 50.0% 50.0%
American Indian or Alaska Native 1 100.0% 0.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Hispanic or Latino 3,127 62.7% 20.7%
Not Hispanic or Latino 211 67.8% 15.6%
Joint 52 55.8% 23.1%

Nearby Lenders in PR

Other HMDA-reporting lenders in PR with similar activity. Compare any two side-by-side.

Banco Popular

San Juan, PR

6,295 apps 2,445 originated 13.0% denied

The Moneyhouse Inc.

San Juan, PR

2,757 apps 1,219 originated 7.4% denied

Oriental Bank

San Juan, PR

1,702 apps 814 originated 25.0% denied

HR MORTGAGE CORP

CAGUAS, PR

678 apps 475 originated 23.3% denied

Preferred Mortgage Corporation

San Juan, PR

648 apps 451 originated 16.5% denied
Compare FIRSTBANK vs Banco Popular →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Frequently Asked Questions

How many mortgage applications did FIRSTBANK process?
FIRSTBANK processed 3,534 mortgage applications in the 2023 HMDA reporting year. Of these, 2,160 were originated (approved and funded), 407 were withdrawn by the applicant, and 699 were denied.
What is FIRSTBANK's mortgage approval rate?
FIRSTBANK has an approval (origination) rate of 61.1%, meaning 61.1% of all applications resulted in a funded mortgage. The denial rate is 19.8%.
What is the average loan amount at FIRSTBANK?
The average mortgage loan amount at FIRSTBANK is $201,336. The average interest rate is 5.919%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at FIRSTBANK?
The most common reasons for mortgage denial at FIRSTBANK are: Collateral, Debt-to-income ratio, Insufficient cash. In total, 699 applications were denied out of 3,534 total applications.
What types of mortgage loans does FIRSTBANK offer?
FIRSTBANK processes Conventional, FHA, USDA, VA loans. The most common type is Conventional with 2,091 applications and an average loan amount of $226,559.
What loan purposes does FIRSTBANK serve?
FIRSTBANK serves the following loan purposes: Home Purchase (2,947 applications), Cash-out Refinancing (260 applications), Other (121 applications), Refinancing (63 applications), Home Improvement (51 applications). Home Purchase is the most common purpose.
Where is FIRSTBANK located?
FIRSTBANK is headquartered in San Juan, PR. The lender is identified by LEI 549300WWJ28EP3GZG107 in HMDA data.
How does FIRSTBANK compare in lending across racial demographics?
FIRSTBANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 62.7% and denial rate of 20.3%; Black or African American applicants have an approval rate of 63.7% and denial rate of 22.8%; Joint applicants have an approval rate of 66.1% and denial rate of 23.7%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.