Compare Today’s Refinance Rates for Fayette, Alabama 35555
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Fayette, Alabama 35555.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $9,176 over the lifetime of your mortgage, which translates to a monthly savings of $25 in Fayette and other areas of Fayette county. We analyze all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing, to provide you with the most suitable options for your financial situation.
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Summary of Average Refinances in Fayette, Alabama 35555
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Refinance Rate Projections for Fayette, Alabama 35555
Pureloan has developed an interactive chart to monitor the five largest local lenders in Fayette, AL 35555, for refinancing and cash-out. The chart features historical rates, which are based on completed refinancings, and projections, which are based on proprietary modeling.
Historical Refinance Rates in Fayette, Alabama 35555 from 2024 - 2016
The following historical data provides insights into refinancing trends in Fayette, Alabama and the surrounding Fayette county, based on factors such as loan type, credit score, LTV, and other parameters. This data is derived from actual closed home refinancings.
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
| % 30 year fixed refinance | 80.00% | 64.79% | 61.47% | 48.18% | 66.67% | 65.31% | 63.38% | 53.97% | 58.82% |
| avg refi rate | 6.78% | 4.10% | 2.92% | 3.26% | 4.16% | 4.48% | 3.94% | 3.94% | 4.07% |
| % 15 year fixed refinance | 20.00% | 25.35% | 21.21% | 38.64% | 21.43% | 20.41% | 26.76% | 28.57% | 27.45% |
| avg refi rate | 4.99% | 2.81% | 2.50% | 2.77% | 3.53% | 3.91% | 3.30% | 3.30% | 3.17% |
| Avg credit score | 731.40 | 741.31 | 749.16 | 752.38 | 740.43 | 738.35 | 744.42 | 744.33 | 744.59 |
| Avg LTV (loan to value) | 73.20% | 65.55% | 70.67% | 69.65% | 69.02% | 75.94% | 74.48% | 73.97% | 75.35% |
| Avg DTI (debt to income) | 39.60 | 30.41 | 31.09 | 30.05 | 32.07 | 31.76 | 32.96 | 30.38 | 31.22 |
| Avg refinance insurance % | 6.00% | 3.17% | 4.25% | 3.06% | 5.40% | 6.45% | 6.97% | 6.57% | 6.86% |
Best Refinance Brokers around Fayette, Alabama 35555
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Fayette, Alabama 35555, we have compiled a list of top refinance brokers to assist you in the process.
Name
Address
Contact
Melody Davis
Loan Officer
103 N Court St Ste A
Florence, AL 35555
(256) 760-3570
MDavis@1stfed.com
Dewayne Griffin
Loan Officer
103 N Court St Ste A
Florence, AL 35555
(256) 760-3570
DGriffin@1stfed.com
Daniel Hand
Loan Officer
103 N Court St Ste A
Florence, AL 35555
(256) 760-3570
DHand@1stfed.com
Tamra Stutts
Loan Officer
103 N Court St Ste A
Florence, AL 35555
(256) 760-3570
TStutts@1stfed.com
Brock Tate
Loan Officer
103 N Court St Ste A
Florence, AL 35555
(256) 760-3570
BTate@1stfed.com
Address
103 N Court St Ste A
Florence, AL
Contact
(256) 760-3570
Fax (301) 639-0804
MDavis@1stfed.com
Address
103 N Court St Ste A
Florence, AL
Contact
(256) 760-3570
Fax (301) 639-0804
DGriffin@1stfed.com
Address
103 N Court St Ste A
Florence, AL
Contact
(256) 760-3570
Fax (301) 639-0804
DHand@1stfed.com