Compare Today’s Mortgage Rates for Detroit, Michigan

Pureloan searches major banks and mortgage lenders all over the nation for the best home loan rates in Detroit, Michigan 48288. 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 $1,581 or $4 / month in Detroit and surrounding areas of Wayne 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 Detroit, Michigan 48288.

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Summary of Average Mortgage Terms in Detroit, Michigan 48288

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Interactive and Personalized Mortage Rates Analysis

Source: Fannie Mae and Freddie Mac


To forecast and predict mortgage rates in Detroit, MI 48288, 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 Detroit, Michigan 48288 from 2012 - 2019

We have compiled mortgage rate charts for home loans in Detroit, Michigan and around Wayne county to help you understand trends for your home purchase process. This data is produced from actual closed loans.

2013 2014 2015 2016 2017 2018 2019 2020
% 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 Detroit, Michigan 48288

If you’re looking to buy a new home in Detroit, we have compiled a list of the leading mortgage brokers around Detroit, Michigan 48288 to help you with your search.

Name
Address
Contact

The Mortgage Specialist

14601 Riverside Blvd

Detroit MI 48288

(313) 822-3757

Check 'n Go

13338 E Jefferson Ave

Detroit MI 48288

(313) 331-5500

comments@checkngo.com

Bizdom U

655 W Kirby St

Detroit MI 48288

(313) 833-7800

http://www.bizdom.com/

Quicken Loans

655 W Kirby St

Detroit MI 48288

(313) 833-7800

http://www.quickenloans.com

Fund Evaluation

3011 W Grand Blvd

Detroit MI 48288

(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/

News on Mortgages and Reverse Mortgages for Detroit, Michigan 48288