Compare Today’s Refinance Rates for Somerset, Kentucky 42501
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Somerset, Kentucky 42501.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Somerset, Kentucky 42501. For 30-year amortization refinancing, you can expect lifetime cash savings of $7,506 or $21 per month in Somerset and other parts of Pulaski county.
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Summary of Average Refinances in Somerset, Kentucky 42501
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Refinance Rate Projections for Somerset, Kentucky 42501
Pureloan has developed an interactive chart to monitor the five largest local lenders in Somerset, KY 42501, 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 Somerset, Kentucky 42501 from 2024 - 2016
The following historical data provides insights into refinancing trends in Somerset, Kentucky and the surrounding Pulaski 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 | 50.00% | 48.45% | 59.68% | 57.41% | 42.86% | 41.71% | 48.44% | 49.08% | |
| avg refi rate | 3.78% | 3.86% | 4.04% | 4.46% | 3.69% | 3.83% | 4.63% | 4.84% | |
| % 15 year fixed refinance | 36.36% | 29.90% | 29.03% | 25.93% | 41.01% | 39.04% | 30.47% | 32.52% | |
| avg refi rate | 3.47% | 2.99% | 3.31% | 3.62% | 2.91% | 3.06% | 3.72% | 4.12% | |
| Avg credit score | 742.27 | 736.75 | 734.42 | 742.30 | 758.38 | 756.19 | 749.60 | 755.74 | |
| Avg LTV (loan to value) | 61.32% | 71.10% | 70.84% | 69.89% | 63.96% | 63.72% | 64.57% | 61.99% | |
| Avg DTI (debt to income) | 33.18 | 30.51 | 32.23 | 30.39 | 29.59 | 28.63 | 29.95 | 30.67 | |
| Avg refinance insurance % | 2.44% | 2.26% | 3.69% | 1.00% | 1.26% | 0.47% | 0.34% |
Best Refinance Brokers around Somerset, Kentucky 42501
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Somerset, Kentucky 42501, we have compiled a list of top refinance brokers to assist you in the process.
Name
Address
Contact
Lisa Compton
Mortgage Specialist
44 Public Sq
Somerset, KY 42501
(606) 679-6341
lcompton@cnbsomerset.com
Address
44 Public Sq
Somerset, KY
Contact
(606) 679-6341
Fax (301) 639-0804
lcompton@cnbsomerset.com