Compare Today’s Mortgage Rates for Covington, Michigan
Pureloan searches major banks and mortgage lenders all over the nation for the best home loan rates in Covington, Michigan 49919. Pureloan also provides a report on popular mortgage brokers in your area and a detailed analysis of your home loan payments. For a 30-year fixed loan, expected lifetime cash savings are $8,642 or $24 / month in Covington and surrounding areas of Baraga county.
Our search engine explores all possible home mortgage options including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages for Covington, Michigan 49919.
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Summary of Average Mortgage Terms in Covington, Michigan 49919
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Interactive Mortgage Rate Projections for Covington, MI
To forecast and predict mortgage rates in Covington, MI 49919, 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 Covington, Michigan 49919 from 2014 - 2021
We have compiled mortgage rate charts for home loans in Covington, Michigan and around Baraga 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 | 81.91% | 77.75% | 76.36% | 78.51% | 83.42% | 82.95% | 83.89% | 84.30% |
| avg mortgage rate | 4.88% | 4.67% | 3.91% | 4.00% | 4.43% | 4.09% | 3.89% | 4.11% |
| % 15 year fixed mortgage | 13.07% | 17.16% | 17.73% | 17.56% | 13.48% | 13.35% | 12.68% | 12.45% |
| avg mortgage rate | 4.29% | 3.86% | 3.13% | 3.22% | 3.49% | 3.23% | 3.07% | 3.32% |
| Avg credit score | 765.70 | 760.39 | 762.48 | 758.51 | 754.58 | 754.10 | 746.51 | 749.94 |
| Avg LTV (loan to value) | 77.27% | 78.81% | 80.10% | 81.43% | 82.46% | 82.09% | 83.18% | 83.26% |
| Avg DTI (debt to income) | 30.51 | 30.30 | 30.37 | 30.49 | 31.59 | 31.94 | 32.58 | 32.59 |
| % First time homebuyer | 24.15% | 20.78% | 19.90% | 26.25% | 25.23% | 23.80% | 24.77% | 27.08% |
| Avg mortgage insurance % | 4.47% | 6.92% | 7.78% | 9.47% | 12.01% | 11.43% | 12.51% | 12.29% |
Data produced from the Financial Report of the US Government
Best Mortgage Brokers Around Covington, Michigan 49919
If you’re looking to buy a new home in Covington, we have compiled a list of the leading mortgage brokers around Covington, Michigan 49919 to help you with your search.
Name
Address
Contact
Fitzgerald Associates
200 Michigan St
Hancock MI 49919
(906) 482-6072
K Eda
600 E Lakeshore Dr
Houghton MI 49919
(906) 482-6817
Wells Fargo Home Mortgage
1303 College Ave
Houghton MI 49919
(906) 483-0750
http://www.wellsfargo.com/mortgage/
Wells Fargo Home Mortgage
600 Shelden Ave
Houghton MI 49919
(906) 487-5847
http://www.wellsfargo.com/mortgage/
Wells Fargo Home Mortgage
205 W Aurora St
Ironwood MI 49919
(906) 932-2922
http://www.wellsfargo.com/mortgage/
Address
200 Michigan St
Hancock MI
Contact
(906) 482-6072
Address
600 E Lakeshore Dr
Houghton MI
Contact
(906) 482-6817
Address
1303 College Ave
Houghton MI
Contact
(906) 483-0750
http://www.wellsfargo.com/mortgage/