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GUIDE TO PRONTO PA’ TU CASA PROGRAM
Make your homebuying process easier with these tools.
Prequalification letter
Monthly and closing costs
Which of these offers fits you best?
*Payments don't include insurance items nor contributions and the payment wil be higher.
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FHA Mortgage
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Conventional FNMA
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Non-Conforming Conventional
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203-K
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Rural Mortgage
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VA Mortgage
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To Purchase Affordable housing
For the purchase of a primary residence at a low interest rate. There is a maximum loan amount established for each municipality. Financing available to consolidate debts or obtain surplus, which can be used for improvements or other uses. It requires mortgage insurance to guarantee the debt and provides assistance programs in cases of claims or difficult situations related to the payment of your mortgage.
FNMA Conventional
Offers the lowest interest rates on the market to purchase or refinance a primary residence. It also offers you the possibility of acquiring private mortgage insurance to increase the amount of the loan with respect to the appraised value, in primary residence loans. It also allows the refinancing of your current mortgage to reduce the mortgage term and interest.
Conventional Non-Conforming
Offers great flexibility in purchasing or refinancing a primary residence. Combines terms and repayment plans that fit your convenience with products such as "Balloon" mortgages.
FHA product that is intended to meet the needs of consumers to convert a property into livable conditions. The cost of the improvements can be included in the financing, up to the established maximum limits. FHA loan requirements such as mortgage insurance and maximum loan amounts by municipality apply. It includes an estimate for improvements by a contractor duly authorized by DACO.
Guaranteed by the US Department of Veterans Affairs for Veterans of the United States Army, subject to your Certificate of Eligibility. For primary residence purchase up to 100% for the purchase of a primary residence or up to 100% of the refinancing of your primary residence.
How Does Refinancing Work?
Learn all the details in this informative video featuring our specialist, Sean Marchisello.
Discover the Value of a Trusted Partner
Why is a real estate agent essential when buying a property?
Learn About FHA 203(k)
Did you know you can include home improvements in your mortgage?
Find out how.
Purchase your property through the Direct Buyer Assistance Program.
Frequently Asked Questions
What are closing costs?
Closing costs are the fees for processing and executing a mortgage application. Such costs include, but are not limited to:
- Origination fee
- Mortgage Discount
- Mortgage Insurance Premium (if any)
- "Home" or "Homeowner's" Insurance
- Withholding for payment of property taxes
- Credit report
- Appraisal
- Title Search
- Plot Plan
- Flood zone determintation certificate
- Notary's fee
- Documentary Stamp Tax on the mortgage or legal costs
How much does a mortgage cost?
The true cost of a mortgage loan is expressed through the Annual Percentage Rate (APR), which shows the cost of the annual interest rate that applies to the mortgage principal amount and the cost of the financing charges. The latter includes: the origination fee, mortgage discount, private mortgage insurance and prepaid interest.
Where the purchase of a property is to be financed, the Debtor should know the amount he must bring to the closing table, which is the closing costs and the down payment, if any.
What documents do I need to submit an application?
To submit a mortgage application you should bring a copy of these documents:
- Property deed with legal description of property and property data
- Salary stubs for the last 30 days
- Withholding Statements [W-2 Form] for the last 2 years
- Bank statements for the last 2 months
- Option Contract for Sale and Purchase [if any]
- Proof of payment of option deposit to seller [if any]
- Income tax returns prepared by an accountant for the last 2 years, for self-employed applicants
- Property Registration Number
What types of properties qualify for a residential mortgage?
How can I pay my mortgage?
There are several ways to make your payment:
- Direct payment from a deposit account in Oriental, automatic payment from a deposit account of any banking institution.
- On your Online Banking, through the Pay Bill option or the Account Summary section. You will have to register it by selecting ORIENTAL BANK Mortgage and entering the account loan number.
- Through the Service portal.
- By phone, call 787-767-8585 Monday through Friday from 7:30 am to 5:30 pm, and Saturdays from 9:00 am to 1:00 pm.
How do I know if refinancing is right for me?
Customers may have many reasons to refinance. When there is a beneficial interest rate setting, many customers want to refinance in order to lower their mortgage term and pay it off faster, or to lower the monthly payment or the interest rate. These refinancing arrangements have no remainder.
As part of the process of evaluating an application, the mortgage institution will request a real estate appraisal from a professional appraiser certified by the government and authorized by the bank. The appraisal is an estimate of the property probable value based on a physical inspection of the property and a review of three recent sales of similar properties in the neighborhood. The appraisal is prepared in a standard format accepted by investors and insurance companies, and includes, without limitation, snapshots of the subject property and its comparables, location maps, and a basic building sketch.
What are origination and discount fees?
They are part of the closing costs for a mortgage loan. The origination fee covers the mortgage institution’s administrative expenses to process the financing application. The mortgage discount is a fee that covers the cost of selling the mortgage on the secondary market. These costs vary according to the mortgage interest.
How do I Request a Loan Certification?
Through the service portal, go to the Get Services section and select Copy of information. Choose the tax year and click on the download icon. Start here now.
Mortgage terms glossary
* Subject to credit approval. Certain terms and conditions apply. Special offer for applicants with excellent credit (0,0,0) and credit score of 740 or more originating from May 18, 2026, to May 24, 2026, and that close within 45 days after the mortgage application date. Applies to new requests.
(1) For loans with mortgage insurance from the Federal Housing Administration (FHA) with “Approved Eligible” results under the DU program. Applies to one-unit homes, up to a maximum of $524,225 or the limit established by the agency for each municipality, whichever is lower. For loans with a loan-to-value (LTV) up to 96.5% for purchases of a primary residence, 80% LTV for cash-out refinances, and up to 97.75% LTV for rate-and-term refinances. Not applicable for second homes or condominiums not certified by FHA. This product requires FHA mortgage insurance. For RH/VA loans, other conditions may apply.
(2) Applies only to Conventional “Conforming” loans with “Approved Eligible” results under the DU program up to 60% LTV in purchases and rate-and-term refinances, both for primary residences. If LTV exceeds 80%, approval of private mortgage insurance will also be required. Alternatives with higher LTVs, condominium units, second homes, and investment properties will be subject to additional pricing adjustments, which may be included as Origination and/or Discount Fees. This offer applies to one-unit properties, new or existing, from $75,000 up to a maximum of $766,550. Does not include legal fees, incidental expenses, prepaid items, or insurance or tax escrows. Offers are subject to submission of requested documents and credit approval based on the parameters established by Oriental and the corresponding agencies. Offers may vary depending on market conditions. Not valid with other offers and/or promotions.
To help the government combat terrorism financing and money-laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies every person who opens an account. This means that when you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We will also ask you to show your driver’s license or other identification documents. In addition, as of May 2018, EVERY time an account is opened for a covered legal entity, we must request identifying information (name, address, date of birth, Social Security number, % of ownership, as well as identification documents) for each individual who ultimately owns 25% or more, and for one individual with significant managerial control of the legal entity. If you are opening an account on behalf of a legal entity, you will be required to provide the appropriate documentation (Certification of Beneficial Owners) and certify that this information is true and accurate to the best of your knowledge.