PlainLender

Preferred Mortgage Corporation

San Juan, PR

Preferred Mortgage Corporation processed 648 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 451 loans with a 16.5% denial rate. Home Purchase was the primary loan purpose. Based in San Juan, PR. The approval rate of 69.6% 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. Preferred Mortgage Corporation processed 648 HMDA-reported mortgage applications in 2024, originating 451 loans and denying 107 for a denial rate of 16.5% (applicants themselves withdrew 60 files before a decision). The average loan amount was $152,639 at a 6.626% average note rate, and applicants self-reported an average income of $38,000. The lender reports under LEI 549300C2LYW7GU30DV25 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Preferred Mortgage Corporation's 69.6% origination rate tells you how often an application turned into funded money; the 16.5% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Collateral, Other, Insufficient cash, which together explain the majority of rejections. Most activity concentrated in FHA loans (423 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.

648
Applications
451
Originated
16.5%
Denial Rate
$152,639
Avg Loan Amount
Avg Interest Rate: 6.626% Avg Applicant Income: $38,000

Lending Activity

Type Applications Originated Denied Avg Loan
FHA 423 304 66 $124,953
VA 79 52 16 $223,481
Conventional 74 38 21 $265,676
USDA 72 57 4 $121,389

Top loan types — Preferred Mortgage Corporation

Top loan types — Preferred Mortgage Corporation Horizontal bar chart of the top 4 items by value (applications). Top loan types — Preferred Mortgage Corporation Top 4 1. FHA 423 2. VA 79 3. Conventional 74 4. USDA 72 Top 5 loan types by application volume at Preferred Mortgage Corporation (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 Preferred Mortgage Corporation (LEI: 549300C2LYW7GU30DV25) · 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
59
Other
35
Insufficient cash
27
Credit application incomplete
18
Credit history
11
Debt-to-income ratio
10
Employment history
4
Unverifiable information
4

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 621 435 $151,473
Cash-out Refinancing 19 9 $192,895
Refinancing 8 7 $147,500

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 533 71.3% 14.8%
Black or African American 31 61.3% 22.6%
Joint 12 50.0% 50.0%
American Indian or Alaska Native 1 0.0% 100.0%

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 612 71.4% 15.5%
Not Hispanic or Latino 13 38.5% 38.5%
Joint 7 57.1% 14.3%

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

FIRSTBANK

San Juan, PR

3,534 apps 2,160 originated 19.8% 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
Compare Preferred Mortgage Corporation 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 Preferred Mortgage Corporation process?
Preferred Mortgage Corporation processed 648 mortgage applications in the 2023 HMDA reporting year. Of these, 451 were originated (approved and funded), 60 were withdrawn by the applicant, and 107 were denied.
What is Preferred Mortgage Corporation's mortgage approval rate?
Preferred Mortgage Corporation has an approval (origination) rate of 69.6%, meaning 69.6% of all applications resulted in a funded mortgage. The denial rate is 16.5%.
What is the average loan amount at Preferred Mortgage Corporation?
The average mortgage loan amount at Preferred Mortgage Corporation is $152,639. The average interest rate is 6.626%. The average applicant income is $38,000.
What are the most common reasons for mortgage denial at Preferred Mortgage Corporation?
The most common reasons for mortgage denial at Preferred Mortgage Corporation are: Collateral, Other, Insufficient cash. In total, 107 applications were denied out of 648 total applications.
What types of mortgage loans does Preferred Mortgage Corporation offer?
Preferred Mortgage Corporation processes FHA, VA, Conventional, USDA loans. The most common type is FHA with 423 applications and an average loan amount of $124,953.
What loan purposes does Preferred Mortgage Corporation serve?
Preferred Mortgage Corporation serves the following loan purposes: Home Purchase (621 applications), Cash-out Refinancing (19 applications), Refinancing (8 applications). Home Purchase is the most common purpose.
Where is Preferred Mortgage Corporation located?
Preferred Mortgage Corporation is headquartered in San Juan, PR. The lender is identified by LEI 549300C2LYW7GU30DV25 in HMDA data.
How does Preferred Mortgage Corporation compare in lending across racial demographics?
Preferred Mortgage Corporation reports demographic lending data under HMDA requirements. White applicants have an approval rate of 71.3% and denial rate of 14.8%; Black or African American applicants have an approval rate of 61.3% and denial rate of 22.6%; Joint applicants have an approval rate of 50.0% and denial rate of 50.0%. 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.