Compare Today’s Mortgage Rates in Detroit, Michigan 48205
Pureloan is a mortgage search engine that finds the best mortgage rates from top mortgage lenders and major banks in Detroit, Michigan 48205.
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 $2,188 over the lifetime of your 30-year fixed loan, or a monthly savings of $6 in Detroit and other areas of Wayne 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 Detroit, Michigan 48205
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Mortgage Rate Projections for Detroit, Michigan 48205
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Detroit, MI 48205. 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 Detroit, Michigan 48205 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Detroit, Michigan and around Wayne 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 | 93.18% | 91.38% | 88.96% | 81.50% | 86.83% | 80.13% | 77.71% | 77.40% | 78.19% |
avg mortgage rate | 6.81% | 4.85% | 3.21% | 3.45% | 4.51% | 4.77% | 4.23% | 3.95% | 4.14% |
% 15 year fixed mortgage | 5.30% | 5.81% | 9.82% | 15.18% | 8.33% | 15.71% | 16.88% | 18.49% | 17.11% |
avg mortgage rate | 6.10% | 4.06% | 2.63% | 2.90% | 3.83% | 4.20% | 3.41% | 3.10% | 3.32% |
Avg credit score | 738.14 | 744.83 | 746.40 | 748.73 | 748.99 | 752.39 | 750.95 | 751.26 | 754.98 |
Avg LTV (loan to value) | 84.17% | 84.73% | 83.90% | 83.60% | 83.35% | 81.23% | 81.23% | 81.89% | 81.74% |
Avg DTI (debt to income) | 36.02 | 36.32 | 32.86 | 33.23 | 33.58 | 32.55 | 32.37 | 31.62 | 31.69 |
% First time homebuyer | 31.06% | 35.07% | 30.98% | 25.78% | 25.00% | 21.79% | 16.56% | 26.37% | 13.09% |
Avg mortgage insurance % | 14.91% | 14.94% | 13.18% | 12.56% | 11.50% | 10.88% | 10.18% | 10.34% | 9.53% |
Best Mortgage Brokers around Detroit, Michigan 48205
For those searching for a new home in Detroit, we have compiled a list of the top mortgage brokers located in and around Detroit, Michigan 48205 to assist you with your search.
Name
Address
Contact
The Mortgage Specialist
14601 Riverside Blvd
Detroit MI 48205
(313) 822-3757
Check 'n Go
13338 E Jefferson Ave
Detroit MI 48205
(313) 331-5500
comments@checkngo.com
Bizdom U
655 W Kirby St
Detroit MI 48205
(313) 833-7800
http://www.bizdom.com/
Quicken Loans
655 W Kirby St
Detroit MI 48205
(313) 833-7800
http://www.quickenloans.com
Fund Evaluation
3011 W Grand Blvd
Detroit MI 48205
(313) 875-4300
information@feg.com
Address
14601 Riverside Blvd
Detroit MI
Contact
(313) 822-3757
Address
13338 E Jefferson Ave
Detroit MI
Contact
(313) 331-5500
comments@checkngo.com
Address
655 W Kirby St
Detroit MI
Contact
(313) 833-7800
http://www.bizdom.com/