Compare Today’s Refinance Rates for Florala, Alabama 36442
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Florala, Alabama 36442.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Florala, Alabama 36442. For 30-year amortization refinancing, you can expect lifetime cash savings of $5,156 or $14 per month in Florala and other parts of Covington county.
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Summary of Average Refinances in Florala, Alabama 36442
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Interactive Refinance Rate Projections for Florala, Alabama 36442
Pureloan has developed an interactive chart to monitor the five largest local lenders in Florala, AL 36442, 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 Florala, Alabama 36442 from 2024 - 2016
The following historical data provides insights into refinancing trends in Florala, Alabama and the surrounding Covington 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 | |
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% 30 year fixed refinance | 88.46% | 64.00% | 56.88% | 56.29% | 68.15% | 63.89% | 63.50% | 60.76% | 65.05% |
avg refi rate | 6.30% | 3.89% | 2.98% | 3.26% | 4.27% | 4.60% | 4.14% | 3.95% | 4.09% |
% 15 year fixed refinance | 11.54% | 17.78% | 26.81% | 28.62% | 22.93% | 25.00% | 24.09% | 25.95% | 22.58% |
avg refi rate | 5.92% | 2.65% | 2.46% | 2.78% | 3.83% | 3.91% | 3.31% | 3.23% | 3.41% |
Avg credit score | 751.35 | 744.60 | 750.40 | 756.83 | 748.64 | 733.43 | 743.16 | 752.23 | 748.60 |
Avg LTV (loan to value) | 76.15% | 70.30% | 72.65% | 75.03% | 76.64% | 74.69% | 74.21% | 76.77% | 75.49% |
Avg DTI (debt to income) | 33.77 | 33.00 | 30.92 | 31.19 | 32.73 | 32.86 | 31.63 | 32.32 | 30.75 |
Avg refinance insurance % | 10.12% | 5.09% | 4.62% | 5.83% | 8.77% | 7.06% | 6.70% | 7.52% | 7.48% |
Best Refinance Brokers around Florala, Alabama 36442
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Florala, Alabama 36442, we have compiled a list of top refinance brokers to assist you in the process.
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