Compare Today’s Refinance Rates for Michael, Illinois 62065
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Michael, Illinois 62065.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $3,649 over the lifetime of your mortgage, which translates to a monthly savings of $10 in Michael and other areas of Calhoun 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 Michael, Illinois 62065
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Interactive Refinance Rate Projections for Michael, Illinois 62065
Pureloan has developed an interactive chart to monitor the five largest local lenders in Michael, IL 62065, 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 Michael, Illinois 62065 from 2024 - 2016
The following historical data provides insights into refinancing trends in Michael, Illinois and the surrounding Calhoun 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 | 88.24% | 54.51% | 45.23% | 47.50% | 56.23% | 59.69% | 49.15% | 41.89% | 41.54% |
avg refi rate | 6.40% | 3.93% | 3.01% | 3.23% | 4.19% | 4.50% | 4.02% | 3.82% | 4.00% |
% 15 year fixed refinance | 11.76% | 33.48% | 36.37% | 35.19% | 25.22% | 28.57% | 33.56% | 28.42% | 33.46% |
avg refi rate | 5.94% | 2.94% | 2.38% | 2.65% | 3.64% | 3.96% | 3.26% | 3.00% | 3.16% |
Avg credit score | 739.47 | 736.56 | 753.23 | 761.33 | 752.13 | 792.89 | 745.51 | 752.77 | 753.18 |
Avg LTV (loan to value) | 65.29% | 67.77% | 70.12% | 71.76% | 73.11% | 69.98% | 72.46% | 73.53% | 72.53% |
Avg DTI (debt to income) | 37.41 | 31.35 | 30.48 | 29.95 | 32.02 | 31.13 | 31.42 | 30.92 | 31.10 |
Avg refinance insurance % | 5.29% | 2.15% | 3.11% | 4.19% | 5.27% | 3.16% | 4.30% | 5.43% | 5.01% |
Best Refinance Brokers around Michael, Illinois 62065
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Michael, Illinois 62065, we have compiled a list of top refinance brokers to assist you in the process.
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