Compare Today’s Refinance Rates for Salem, Illinois 62881
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Salem, Illinois 62881.
With a 30-year amortization refinance in Salem and surrounding areas of Marion county, our calculations show that you can expect to save up to $4,014 over the lifetime of your mortgage, or a monthly savings of $11. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Salem, Illinois 62881.
38.520006
-88.984514
27229
Summary of Average Refinances in Salem, Illinois 62881
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
Become a certified mortgage expert on Pureloan.com
in Salem, Illinois 62881
Reach hundreds of thousands of home buyers and refinance customers every month! FREE APPLICATION
Interactive Refinance Rate Projections for Salem, Illinois 62881
Pureloan has developed an interactive chart to monitor the five largest local lenders in Salem, IL 62881, 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 Salem, Illinois 62881 from 2024 - 2016
The following historical data provides insights into refinancing trends in Salem, Illinois and the surrounding Marion 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 | 42.21% | 43.72% | 37.93% | 49.84% | 40.10% | 40.34% | 38.55% | 54.27% | |
| avg refi rate | 3.95% | 3.92% | 4.11% | 4.51% | 3.74% | 3.96% | 4.53% | 4.83% | |
| % 15 year fixed refinance | 37.19% | 30.42% | 33.70% | 30.10% | 35.17% | 34.69% | 40.15% | 33.94% | |
| avg refi rate | 3.20% | 3.12% | 3.21% | 3.54% | 2.98% | 3.24% | 3.78% | 4.21% | |
| Avg credit score | 759.66 | 761.43 | 758.70 | 754.77 | 766.58 | 769.75 | 766.48 | 768.91 | |
| Avg LTV (loan to value) | 74.79% | 74.63% | 74.45% | 75.36% | 70.82% | 69.70% | 67.56% | 68.97% | |
| Avg DTI (debt to income) | 31.52 | 31.20 | 31.34 | 31.75 | 30.35 | 29.70 | 30.58 | 29.93 | |
| Avg refinance insurance % | 5.49% | 5.82% | 5.34% | 5.41% | 3.79% | 2.79% | 2.12% | 2.04% |
Best Refinance Brokers around Salem, Illinois 62881
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Salem, Illinois 62881, we have compiled a list of top refinance brokers to assist you in the process.
Name
Address
Contact
Mike Williams
Mortgage Lender
55 North Elm St
Alto Pass, IL 62881
(618) 893-2464
mwilliams@myfsb.com
Steve Thompson
Mortgage Lender
55 North Elm St
Alto Pass, IL 62881
(618) 893-2464
sthompson@myfsb.com
Brad Stokich
Mortgage Lender
55 North Elm St
Alto Pass, IL 62881
(618) 893-2464
bstokich@myfsb.com
Tom Jones
Mortgage Lender
55 North Elm St
Alto Pass, IL 62881
(618) 893-2464
tjones@myfsb.com
Mike Hopkins
Home Loans
300 Tower Square Plz
Marion, IL 62881
(618) 997-4341
mhopkins@bankofmarion.com
Address
55 North Elm St
Alto Pass, IL
Contact
(618) 893-2464
Fax (301) 639-0804
mwilliams@myfsb.com
Address
55 North Elm St
Alto Pass, IL
Contact
(618) 893-2464
Fax (301) 639-0804
sthompson@myfsb.com
Address
55 North Elm St
Alto Pass, IL
Contact
(618) 893-2464
Fax (301) 639-0804
bstokich@myfsb.com