Puerto Rico Mortgage Lending
63 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 22,790 HMDA-reported mortgage applications in Puerto Rico in 2024, originating 12,640 loans and denying 3,372. That puts the statewide denial rate at 14.8% and the approval (origination) rate at 55.5%. The average loan amount across Puerto Rico was $177,573 at an average note rate of 6.41%. 63 distinct institutions, banks, credit unions, and independent mortgage companies, filed HMDA data covering activity in the state. Applications span 78 counties and 7 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups, for example, White applicants had an approval rate of 64.9% and denial rate of 17.7%; while Black or African American applicants had an approval rate of 76.2% and denial rate of 12.8%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include San Juan County, Bayamon County, Carolina County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau, a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in Puerto Rico
Top HMDA-reporting lenders active in Puerto Rico. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | Banco Popular | 2,445 | 19.3% |
| 2 | FIRSTBANK | 1,870 | 14.8% |
| 3 | The Moneyhouse Inc. | 1,213 | 9.6% |
| 4 | Oriental Bank | 814 | 6.4% |
| 5 | Metro Island Mortgage | 503 | 4.0% |
Lending by Race in Puerto Rico
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 15,937 | 64.9% | 17.7% |
| Black or African American | 1,459 | 76.2% | 12.8% |
| Joint | 527 | 73.6% | 14.8% |
| American Indian or Alaska Native | 42 | 52.4% | 30.9% |
| Asian | 34 | 58.8% | 17.6% |
| 2 or more minority races | 9 | 66.7% | 33.3% |
| Native Hawaiian or Other Pacific Islander | 3 | 66.7% | 0.0% |
Counties in Puerto Rico
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| San Juan County | 2,829 | 1,602 | 16.8% | $230,207 |
| Bayamon County | 1,978 | 1,105 | 12.9% | $174,226 |
| Carolina County | 1,547 | 854 | 14.2% | $152,027 |
| Caguas County | 1,169 | 648 | 14.1% | $149,559 |
| Guaynabo County | 890 | 554 | 14.7% | $309,618 |
| Ponce County | 722 | 390 | 17.6% | $125,194 |
| Toa Baja County | 665 | 348 | 13.8% | $137,571 |
| Toa Alta County | 561 | 310 | 12.5% | $175,392 |
| Arecibo County | 537 | 285 | 14.9% | $122,523 |
| Trujillo Alto County | 518 | 298 | 13.3% | $166,602 |
| Humacao County | 499 | 272 | 15.0% | $273,216 |
| Rio Grande County | 495 | 271 | 11.7% | $227,949 |
| Gurabo County | 471 | 288 | 13.4% | $223,004 |
| Fajardo County | 451 | 243 | 13.8% | $130,388 |
| Vega Baja County | 430 | 232 | 13.3% | $139,349 |
| Cabo Rojo County | 405 | 273 | 14.8% | $174,432 |
| Juncos County | 373 | 192 | 12.3% | $164,839 |
| Dorado County | 359 | 213 | 13.9% | $515,306 |
| Canovanas County | 330 | 184 | 16.1% | $155,303 |
| Albonito County | 328 | 193 | 18.0% | $202,805 |
| Mayaguez County | 297 | 178 | 20.9% | $130,152 |
| Cayey County | 283 | 152 | 13.8% | $151,007 |
| Isabela County | 282 | 166 | 15.3% | $190,000 |
| Las Piedras County | 277 | 159 | 10.1% | $147,310 |
| Manati County | 277 | 154 | 10.1% | $129,838 |
| Vega Alta County | 241 | 128 | 16.2% | $192,303 |
| Cidra County | 220 | 116 | 12.7% | $154,545 |
| Barceloneta County | 210 | 119 | 12.4% | $124,238 |
| Guayama County | 208 | 101 | 15.9% | $98,942 |
| San Lorenzo County | 208 | 92 | 14.4% | $128,365 |
| Hatillo County | 207 | 114 | 17.9% | $145,048 |
| Luquillo County | 196 | 105 | 18.4% | $178,673 |
| Juana Diaz County | 192 | 95 | 14.1% | $130,260 |
| San Sabastian County | 179 | 110 | 13.4% | $121,872 |
| Naguabo County | 176 | 91 | 14.8% | $107,955 |
| Camuy County | 167 | 97 | 15.0% | $132,126 |
| Loiza County | 158 | 96 | 9.5% | $135,506 |
| Coamo County | 154 | 71 | 20.8% | $116,688 |
| Rincon County | 151 | 89 | 19.9% | $326,457 |
| Salinas County | 138 | 56 | 14.5% | $105,000 |
| Ceiba County | 132 | 70 | 12.9% | $114,394 |
| Corozal County | 130 | 60 | 20.0% | $117,538 |
| San German County | 128 | 79 | 15.6% | $140,469 |
| Arroyo County | 127 | 56 | 25.2% | $84,921 |
| Catano County | 121 | 71 | 14.1% | $177,231 |
| Yabucoa County | 120 | 65 | 13.3% | $94,083 |
| Aguas Buenas County | 119 | 74 | 20.2% | $167,689 |
| Quebradillas County | 119 | 72 | 16.8% | $148,445 |
| Yauco County | 108 | 58 | 14.8% | $113,519 |
| Morovis County | 107 | 59 | 9.3% | $121,542 |
| Santa Isabel County | 104 | 50 | 18.3% | $118,365 |
| Naranjito County | 103 | 56 | 8.7% | $130,825 |
| Aguada County | 99 | 55 | 16.2% | $156,414 |
| Sabana Grande County | 96 | 64 | 9.4% | $113,229 |
| Lares County | 94 | 51 | 19.1% | $115,851 |
| Barranquitas County | 93 | 42 | 10.8% | $141,129 |
| Aquadilla County | 91 | 45 | 15.4% | $125,330 |
| Moca County | 85 | 52 | 11.8% | $189,706 |
| Patillas County | 84 | 45 | 15.5% | $114,762 |
| Hormigueros County | 83 | 43 | 15.7% | $103,675 |
| Lajas County | 78 | 43 | 15.4% | $130,000 |
| Utuado County | 75 | 35 | 13.3% | $97,000 |
| Comerio County | 65 | 29 | 15.4% | $110,538 |
| Anasco County | 64 | 31 | 20.3% | $135,313 |
| Florida County | 62 | 34 | 8.1% | $81,290 |
| Vieques County | 60 | 29 | 16.7% | $278,500 |
| Penuelas County | 57 | 29 | 14.0% | $176,579 |
| Ciales County | 51 | 23 | 15.7% | $93,431 |
| Orocovis County | 50 | 27 | 22.0% | $120,200 |
| Maunabo County | 49 | 24 | 16.3% | $106,224 |
| Guanica County | 48 | 26 | 22.9% | $116,042 |
| Guayanilla County | 41 | 18 | 17.1% | $102,073 |
| Villalba County | 32 | 13 | 28.1% | $124,375 |
| Adjuntas County | 30 | 11 | 36.7% | $98,000 |
| Jayuya County | 25 | 13 | 16.0% | $123,000 |
| Las Marias County | 23 | 10 | 30.4% | $106,739 |
| Maricao County | 8 | 2 | 37.5% | $131,250 |
| Culebra County | 6 | 1 | 33.3% | $246,667 |
Metro Areas in Puerto Rico
Frequently Asked Questions
How many mortgage applications were filed in Puerto Rico?
What is the mortgage denial rate in Puerto Rico?
What is the average mortgage loan amount in Puerto Rico?
How many mortgage lenders operate in Puerto Rico?
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Which counties in Puerto Rico have the most mortgage activity?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology - how this data is sourced, computed, and verified.
