Firstbank Puerto Rico at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
17th23.3% deniedPricingmedian rate spread over APOR, weight 30%
95th-0.31 ptsProcesswithdrawn + incomplete share, weight 15%
67th13.5%Closing coststotal loan costs ÷ loan amount, weight 10%
8th4.33% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 3,475 | 2,191 | 20.4% | 23.5% | 5.88% | $418M |
| 2024 | 3,431 | 2,160 | 20.4% | 23.6% | 6.13% | $471M |
| 2025 | 3,608 | 2,283 | 20.1% | 23.3% | 5.88% | $507M |
What Firstbank Puerto Rico lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 350 investment properties.
Why Firstbank Puerto Rico denies applications
Primary reason reported for each of the 726 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Firstbank Puerto Rico
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 1,063 | 572 | 34.0% |
| $50k – $100k | 1,142 | 757 | 19.5% |
| $100k – $150k | 586 | 388 | 20.0% |
| $150k – $250k | 449 | 305 | 18.7% |
| Over $250k | 274 | 194 | 14.8% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 95 | 58 | 29.8% |
| 25–34 | 985 | 645 | 22.8% |
| 35–44 | 892 | 584 | 22.7% |
| 45–54 | 767 | 470 | 23.2% |
| 55–64 | 500 | 304 | 23.6% |
| 65–74 | 256 | 157 | 23.1% |
| Over 74 | 81 | 41 | 27.9% |
Where Firstbank Puerto Rico lends
2 states and 84 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Puerto Rico | 3,233 | 1,997 | 22.0% | 5.75% | #2 |
| Florida | 375 | 286 | 4.0% | 6.38% | #280 |
Frequently asked questions
Firstbank Puerto Rico denied 23.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 17th percentile of mid-size mortgage lenders.
The most common reason Firstbank Puerto Rico gave in 2025 was "collateral", cited on 32.6% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Firstbank Puerto Rico originated in 2025 was 5.88%, and its median rate spread over the average prime offer rate was -0.31 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 83% of its applications were for home purchases, 10% for refinancing (including cash-out), and 6% for home improvement or other purposes. By loan type: 60% conventional, 31% FHA, 5% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.