Compare Today’s Refinance Rates for Lanark, Illinois 61046
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Lanark, Illinois 61046.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $7,530 over the lifetime of your mortgage, which translates to a monthly savings of $21 in Lanark and other areas of Carroll 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.
Summary of Average Refinances in Lanark, Illinois 61046
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Interactive Refinance Rate Projections for Lanark, Illinois 61046
Pureloan has developed an interactive chart to monitor the five largest local lenders in Lanark, IL 61046, 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 Lanark, Illinois 61046 from 2024 - 2016
The following historical data provides insights into refinancing trends in Lanark, Illinois and the surrounding Carroll 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 | 89.47% | 46.48% | 38.95% | 39.11% | 51.84% | 62.75% | 47.58% | 36.68% | 39.77% |
avg refi rate | 6.43% | 3.76% | 2.98% | 3.20% | 4.24% | 4.55% | 4.11% | 3.79% | 3.97% |
% 15 year fixed refinance | 5.26% | 42.61% | 41.58% | 40.96% | 34.36% | 27.45% | 38.29% | 48.49% | 44.32% |
avg refi rate | 6.50% | 2.81% | 2.40% | 2.63% | 3.55% | 3.84% | 3.26% | 2.95% | 3.07% |
Avg credit score | 742.84 | 777.14 | 762.58 | 766.15 | 751.47 | 746.37 | 752.87 | 754.41 | 759.78 |
Avg LTV (loan to value) | 63.00% | 65.68% | 67.49% | 70.61% | 70.17% | 73.75% | 71.90% | 72.44% | 73.51% |
Avg DTI (debt to income) | 31.32 | 32.20 | 31.42 | 30.69 | 32.02 | 33.93 | 32.35 | 31.75 | 31.77 |
Avg refinance insurance % | 0.63% | 2.18% | 2.54% | 3.32% | 3.53% | 4.31% | 4.20% | 4.14% | 4.63% |
Best Refinance Brokers around Lanark, Illinois 61046
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Lanark, Illinois 61046, we have compiled a list of top refinance brokers to assist you in the process.
Christy Eastman
Loan Officer
18 W Main St
Mount Morris, IL 61046
(815) 734-6051
ceastman@sterlingfederal.com
Rhonda Hambley
Mortgage Loan Officers
200 N Walnut St
Byron, IL 61046
(815) 234-6108
Rhonda@byronbank.com
Leah Kays
Mortgage Loan Officers
200 N Walnut St
Byron, IL 61046
(815) 323-1452
Leah@byronbank.com
Neal Pavlus
Mortgage Loan Officers
200 N Walnut St
Byron, IL 61046
(815) 234-6045
npavlus@byronbank.com
Kris Proudfoot
Mortgage Loan Officers
200 N Walnut St
Byron, IL 61046
(815) 234-6115
kproudfoot@byronbank.com
Address
18 W Main St
Mount Morris, IL
Contact
(815) 734-6051
Fax (301) 639-0804
ceastman@sterlingfederal.com
Address
200 N Walnut St
Byron, IL
Contact
(815) 234-6108
Fax (301) 639-0804
Rhonda@byronbank.com
Address
200 N Walnut St
Byron, IL
Contact
(815) 323-1452
Fax (301) 639-0804
Leah@byronbank.com