Compare Today’s Mortgage Rates for Novi, Michigan

Pureloan searches major banks and mortgage lenders finding the best mortgage rates in Novi, Michigan 48374. Pureloan also provides a listing of the best mortgage brokers in your area and a detailed analysis of your future home loan payments. For a 30-year fixed loan, you may expect to have lifetime cash savings of $40,003 or $111 / month in Novi and other areas of Oakland county.

Our search engine explores all home mortgage options in Novi, Michigan 48374, including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages.

30 Year Fixed Mortgage Rates Customized for April 21, 2021

Today's 30 Year Fixed Mortgage Rates

42.473495 -83.522423

Summary of Average Mortgage Terms in Novi, Michigan 48374

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Interactive Mortgage Rate Projections for Novi, MI

Source: Fannie Mae and Freddie Mac


To forecast and predict mortgage rates in Novi, MI 48374, 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.

Local Mortgage Rates for Novi, MI

Historical Mortgage Rates for Novi, Michigan 48374 from 2014 - 2021

We have compiled mortgage rate charts for home loans in Novi, 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 Novi, Michigan 48374

If you’re looking to buy a new home in Novi, we have compiled a list of the leading mortgage brokers around Novi, Michigan 48374 to help you with your search.

Name
Address
Contact

Metro Guide

24747 Davenport Ave

Novi MI 48374

(248) 305-7337

Insight Loans

27780 Novi Rd

Novi MI 48374

(877) 850-5626

info@insightloans.com

Custom Closing Services

28350 Cabot Dr

Novi MI 48374

(248) 324-9000

http://portal.​hud.​gov/​portal/​page/​portal/​HUD

Pinewood Mortgage

26200 Town Center Dr

Novi MI 48374

(248) 567-1030

jjones@pinewoodmortgage.com

Innovative Mortgage

39555 W 10 Mile Rd

Novi MI 48374

(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

News on Mortgages and Reverse Mortgages for Novi, Michigan 48374