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Mortgage Brokers & Lenders

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Tracey Watler
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  • NYC, NJ
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Looking a lender…

Tracey Watler
Pro Member
  • Lender
  • NYC, NJ
Posted Feb 22 2024, 04:31

Hello BP, 

I was looking for a lender in Puerto Rico, I’ve learned that even though Puerto Rico has almost all of the products and methods of the US not all US banks lend in PR. Any suggestions on a financial institution for a loan?

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Devin Peterson
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Devin Peterson
  • Lender
Replied Feb 22 2024, 05:31

Hi Tracey, are you looking for an investment specific mortgage? 

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Tracey Watler
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  • NYC, NJ
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Tracey Watler
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Replied Feb 22 2024, 05:36

I mean I am looking at my options, I was planing to station myself out there as a trail because my job I  can be remote. What are the conditions ?  

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Chris Seveney
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Chris Seveney
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Replied Feb 22 2024, 07:07
Quote from @Tracey Watler:

Hello BP, 

I was looking for a lender in Puerto Rico, I’ve learned that even though Puerto Rico has almost all of the products and methods of the US not all US banks lend in PR. Any suggestions on a financial institution for a loan?


 Google:

puerto rico mortgage lenders

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Kathryn Morea
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Kathryn Morea
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Replied Feb 22 2024, 11:13

It's pretty difficult to get an investment mortgage at the moment. DSCR was available for a hot minute in 2022. If you are looking for a mortgage for a home or small multifamily and you have a W-2, you will find options. The 3 main banks here are BPPR, Oriental & First Bank. There are also some brokers and credit unions.

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Tracey Watler
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Tracey Watler
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  • Lender
  • NYC, NJ
Replied Feb 24 2024, 07:27
Quote from @Chris Seveney:
Quote from @Tracey Watler:

Hello BP, 

I was looking for a lender in Puerto Rico, I’ve learned that even though Puerto Rico has almost all of the products and methods of the US not all US banks lend in PR. Any suggestions on a financial institution for a loan?


 Google:

puerto rico mortgage lenders


Thanks, buddy! Much appreciated ☺️

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Tracey Watler
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  • NYC, NJ
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Tracey Watler
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  • Lender
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Replied Feb 24 2024, 07:30
Quote from @Kathryn Morea:

It's pretty difficult to get an investment mortgage at the moment. DSCR was available for a hot minute in 2022. If you are looking for a mortgage for a home or small multifamily and you have a W-2, you will find options. The 3 main banks here are BPPR, Oriental & First Bank. There are also some brokers and credit unions.


 Thank you so much, yes for a small multi family,  I’ve tried with first bank ( and they’re dragging their feet). I’ll reach out to the others. Thanks a ton for your input. 

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Kathryn Morea
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Kathryn Morea
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Replied Feb 24 2024, 11:28

Yes, I've heard that with first bank, but to be fair, I've heard many people complain about all 3 of them.   You might check with smaller outfits too like Co/Lab lending, Preferred Mortgage, Aceland Mortgage, and co-ops/credit unions.


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Aaron T.
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  • Aguada, PR
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Aaron T.
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  • Aguada, PR
Replied Mar 22 2024, 05:52

The only way to get a loan in PR is to use a bank in PR or has bricks and mortar in PR (PENFED being one of them). You can try the different COOPs on the island, as they seem to be decent.