Compare Today’s Mortgage Rates in Somerville, Massachusetts 02143
Pureloan is a mortgage search engine that finds the best mortgage rates from top mortgage lenders and major banks in Somerville, Massachusetts 02143.
After exploring all the mortgage options such as fixed-rate, ARM, FHA, VA, USDA, conventional, jumbo, and conforming home mortgages, our calculations show you can save up to $30,297 over the lifetime of your 30-year fixed loan, or a monthly savings of $84 in Somerville and other areas of Middlesex county. Pureloan is designed to help you find the right mortgage for your financial situation with the most competitive rates available.
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Summary of Average Mortgages in Somerville, Massachusetts 02143
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Mortgage Rate Projections for Somerville, Massachusetts 02143
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Somerville, MA 02143. This chart tracks the rates of the five largest nationwide lenders based on historical data from closed mortgage financings and projections using our proprietary modeling.
Historical Mortgage Rates in Somerville, Massachusetts 02143 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Somerville, Massachusetts and around Middlesex county to provide insight into trends that may be helpful during your home buying process. This data is derived from actual closed loans.
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
---|---|---|---|---|---|---|---|---|---|
% 30 year fixed mortgage | 99.02% | 93.77% | 94.23% | 92.23% | 92.70% | 88.38% | 88.97% | 90.67% | 86.84% |
avg mortgage rate | 6.74% | 4.59% | 3.10% | 3.45% | 4.55% | 4.74% | 4.23% | 3.96% | 4.16% |
% 15 year fixed mortgage | 0.49% | 4.48% | 4.87% | 6.63% | 5.87% | 9.74% | 8.75% | 7.74% | 11.48% |
avg mortgage rate | 5.25% | 3.62% | 2.43% | 2.90% | 3.74% | 4.03% | 3.36% | 3.06% | 3.31% |
Avg credit score | 750.82 | 755.50 | 758.47 | 760.01 | 756.77 | 759.60 | 755.56 | 755.85 | 759.96 |
Avg LTV (loan to value) | 77.64% | 79.53% | 80.10% | 80.87% | 79.20% | 76.93% | 76.74% | 78.32% | 77.51% |
Avg DTI (debt to income) | 37.34 | 35.86 | 34.60 | 34.07 | 35.46 | 34.98 | 34.17 | 34.26 | 33.78 |
% First time homebuyer | 25.37% | 21.42% | 13.86% | 16.48% | 20.74% | 13.85% | 19.58% | 18.45% | 16.51% |
Avg mortgage insurance % | 9.66% | 10.16% | 10.00% | 10.75% | 9.80% | 6.12% | 5.95% | 6.97% | 6.34% |
Best Mortgage Brokers around Somerville, Massachusetts 02143
For those searching for a new home in Somerville, we have compiled a list of the top mortgage brokers located in and around Somerville, Massachusetts 02143 to assist you with your search.
Name
Address
Contact
Brendan Loehr
396 Highland Ave
Somerville MA 02143
(617) 776-2323
Powder House Mortgage Co.
775 Broadway
Somerville MA 02143
(617) 666-0309
changes@phmcdirect.com
Bill Pick - Santander Mortgage
403 Highland Ave
Somerville MA 02143
(617) 335-3340
wpick@santander.us
Excel Mortgage & Investments
22 Union Sq
Somerville MA 02143
(617) 628-4927
Eyeswide Enterprise
58 School St
Somerville MA 02143
(888) 376-9266
Address
396 Highland Ave
Somerville MA
Contact
(617) 776-2323
Address
775 Broadway
Somerville MA
Contact
(617) 666-0309
changes@phmcdirect.com
Address
403 Highland Ave
Somerville MA
Contact
(617) 335-3340
wpick@santander.us