Compare Today’s Mortgage Rates for Ferndale, Michigan
Pureloan searches mortgage lenders and major banks in Ferndale, Michigan 48220 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 $11,077 or $31 / month is expected in Ferndale and other areas of Oakland county.
Pureloan’s search engine explores all home mortgage options in Ferndale, Michigan 48220, including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages.
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Summary of Average Mortgage Terms in Ferndale, Michigan 48220
Rate
APR
Expected Savings
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Total Closing Costs
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Interactive Mortgage Rate Projections for Ferndale, MI
To forecast and predict mortgage rates in Ferndale, MI 48220, 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 Ferndale, Michigan 48220 from 2014 - 2021
We have compiled mortgage rate charts for home loans in Ferndale, Michigan and around Oakland 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 Ferndale, Michigan 48220
If you’re looking to buy a new home in Ferndale, we have compiled a list of the leading mortgage brokers around Ferndale, Michigan 48220 to help you with your search.
Name
Address
Contact
Executive Mortgage
830 Orchard St
Ferndale MI 48220
(248) 298-0392
Sure Financial
1840 Hilton Rd
Ferndale MI 48220
(248) 591-9920
williamvargo@pathwaynet.com
First Security Mortgage Relief
2115 Hilton Rd
Ferndale MI 48220
(248) 556-7555
Non Profit Finance Fund
645 Griswold St
Detroit MI 48220
(313) 965-9145
Quicken Loans
1 Campus Martius
Detroit MI 48220
(313) 373-3000
http://www.quickenloans.com
Address
830 Orchard St
Ferndale MI
Contact
(248) 298-0392
Address
1840 Hilton Rd
Ferndale MI
Contact
(248) 591-9920
williamvargo@pathwaynet.com
Address
2115 Hilton Rd
Ferndale MI
Contact
(248) 556-7555