Compare Today’s Mortgage Rates in Novi, Michigan 48376
Pureloan is dedicated to helping you secure the best mortgage rates by conducting extensive searches among mortgage lenders and major banks in Novi, Michigan 48376.
Our search engine thoroughly explores all home mortgage options in Novi, Michigan 48376, including fixed-rate, adjustable-rate (ARM), FHA, VA, USDA, conventional, jumbo, and conforming home mortgages. Based on our calculations, we estimate that for a 30-year fixed loan, you can expect to save $5,440 in lifetime cash or $15 per month in Novi and other areas of Oakland county.
Summary of Average Mortgages in Novi, Michigan 48376
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Interactive Mortgage Rate Projections for Novi, Michigan 48376
Pureloan has developed an interactive chart to help you forecast and predict mortgage rates in Novi, MI 48376. 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 Novi, Michigan 48376 from 2024 - 2016
We have compiled mortgage rates charts for home loans in Novi, Michigan and around Oakland 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 Novi, Michigan 48376
For those searching for a new home in Novi, we have compiled a list of the top mortgage brokers located in and around Novi, Michigan 48376 to assist you with your search.
Metro Guide
24747 Davenport Ave
Novi MI 48376
(248) 305-7337
Insight Loans
27780 Novi Rd
Novi MI 48376
(877) 850-5626
info@insightloans.com
Custom Closing Services
28350 Cabot Dr
Novi MI 48376
(248) 324-9000
http://portal.hud.gov/portal/page/portal/HUD
Pinewood Mortgage
26200 Town Center Dr
Novi MI 48376
(248) 567-1030
jjones@pinewoodmortgage.com
Innovative Mortgage
39555 W 10 Mile Rd
Novi MI 48376
(248) 426-6350
Address
24747 Davenport Ave
Novi MI
Contact
(248) 305-7337
Address
27780 Novi Rd
Novi MI
Contact
(877) 850-5626
info@insightloans.com
Address
28350 Cabot Dr
Novi MI
Contact
(248) 324-9000
http://portal.hud.gov/portal/page/portal/HUD