Compare Today’s Mortgage Rates for Algonac, Michigan
Pureloan searches mortgage lenders and major banks in Algonac, Michigan 48001 finding the best mortgage rates. We also provide a list of the best mortgage brokers in your area and an analysis of your future home loan payments. For a 30-year fixed loan, lifetime cash savings of $8,895 or $25 / month is expected in Algonac and other areas of Saint Clair county.
Pureloan’s search engine explores all home mortgage options in Algonac, Michigan 48001, including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages.
Summary of Average Mortgage Terms in Algonac, Michigan 48001
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Interactive Mortgage Rate Projections for Algonac, MI
To forecast and predict mortgage rates in Algonac, MI 48001, Pureloan has created an interactive chart to track the 5 largest nationwide lenders. Historical rates are based on closed mortgage financings, and projections are based on proprietary modeling.
Historical Mortgage Rates for Algonac, Michigan 48001 from 2014 - 2021
We have compiled mortgage rate charts for home loans in Algonac, Michigan and around Saint Clair county to help you understand trends for your home purchase process. This data is produced from actual closed loans.
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|---|---|---|
| % 30 year fixed mortgage | 86.08% | 83.00% | 84.38% | 87.84% | 89.13% | 89.26% | 89.76% | 88.17% |
| avg mortgage rate | 5.07% | 4.79% | 3.97% | 4.11% | 4.54% | 4.23% | 4.02% | 4.23% |
| % 15 year fixed mortgage | 12.03% | 13.88% | 12.88% | 10.70% | 9.53% | 9.05% | 8.54% | 10.47% |
| avg mortgage rate | 4.43% | 4.06% | 3.29% | 3.31% | 3.58% | 3.37% | 3.18% | 3.40% |
| Avg credit score | 761.24 | 764.56 | 762.02 | 757.46 | 752.75 | 749.21 | 747.88 | 746.47 |
| Avg LTV (loan to value) | 76.88% | 78.57% | 81.21% | 82.38% | 83.35% | 83.55% | 83.55% | 82.93% |
| Avg DTI (debt to income) | 32.42 | 31.68 | 31.69 | 32.19 | 33.12 | 33.15 | 33.88 | 34.39 |
| % First time homebuyer | 33.89% | 30.18% | 28.28% | 35.82% | 41.22% | 40.53% | 41.02% | 39.25% |
| Avg mortgage insurance % | 4.08% | 5.63% | 9.53% | 10.97% | 13.12% | 13.43% | 13.38% | 12.57% |
Data produced from the Financial Report of the US Government
Best Mortgage Brokers Around Algonac, Michigan 48001
If you’re looking to buy a new home in Algonac, we have compiled a list of the leading mortgage brokers around Algonac, Michigan 48001 to help you with your search.
Wells Fargo Home Mortgage
115 North Ave
Algonac MI 48001
(906) 249-3542
http://www.wellsfargo.com/mortgage/
Shore Mortgage
770 S Adams Rd
Birmingham MI 48001
(248) 433-3300
careers@shoremortgage.com
Home Funding Group
132 N Old Woodward Ave
Birmingham MI 48001
(248) 792-6242
dkeblaitis@homefundinggroup.net
United Wholesale Mortgage
555 S Adams Rd
Birmingham MI 48001
(248) 433-4799
http://www.uwmco.com/
Banco Mortgage Centre
379 Hamilton Row
Birmingham MI 48001
(248) 258-5600
rmcorr@carnegiemanagement.com
Address
115 North Ave
Algonac MI
Contact
(906) 249-3542
http://www.wellsfargo.com/mortgage/
Address
770 S Adams Rd
Birmingham MI
Contact
(248) 433-3300
careers@shoremortgage.com
Address
132 N Old Woodward Ave
Birmingham MI
Contact
(248) 792-6242
dkeblaitis@homefundinggroup.net