Compare Today’s Refinance Rates for Somerville, Massachusetts

Pureloan analyzes all refinance lenders to give you the best real-time home refi rates for Somerville, Massachusetts 02145. Search for lower interest rates, cash-out refi or a home equity loan. For 30-year amortization refinancing in Somerville and surrounding areas of Middlesex county, expected lifetime cash savings are $74,678 or $207 / month.

Our search engine analyzes all possible options including HELOC, positive equity refinancing, and short home refinancing for Somerville, Massachusetts 02145.

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Summary of Average Refinance Terms in Somerville, Massachusetts 02145

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Refinance Rates for Somerville, Massachusetts 02145 from 2012 - 2019

Below are historical data on refinancing in Somerville, Massachusetts and around Middlesex county based on loan type, credit score, LTV and other parameters. This data is produced from actual closed home refinancings.

2012 2013 2014 2015 2016 2017 2018 2019
% 30 year fixed refinance 61.77% 54.26% 57.92% 61.89% 62.73% 65.40% 63.94% 56.48%
avg refi rate 4.85% 4.50% 3.92% 3.71% 4.49% 4.03% 3.84% 3.90%
% 15 year fixed refinance 25.13% 29.35% 27.06% 26.89% 25.02% 21.83% 23.55% 27.50%
avg refi rate 4.25% 3.77% 3.23% 2.94% 3.52% 3.24% 3.05% 3.12%
Avg credit score 768.01 769.02 771.74 765.78 752.15 759.24 760.54 755.00
Avg LTV (loan to value) 62.75% 63.63% 64.65% 65.37% 67.62% 68.02% 66.19% 63.55%
Avg DTI (debt to income) 31.24 31.03 30.29 30.50 33.47 32.77 32.46 32.96
Avg refinance insurance % 0.91% 1.35% 1.53% 2.34% 3.70% 3.53% 2.96% 3.00%

Data produced from the Financial Report of the US Government

Best Refinance Brokers Around Somerville, Massachusetts 02145

Whether you are looking to refinance your existing mortgage or obtain a cash-out refi in Somerville, Massachusetts 02145, we have compiled a list of the leading refinance brokers to guide you.

Name
Address
Contact

Charles Gray

Branch Manager

399 Highland Avenue

Somerville, MA 02145

(617) 628-4000

charles.gray@rocklandtrust.com

Fred Ginches

Loan Officer

775 Broadway

Somerville, MA 02145

(617) 512-3999

fred@phmcdirect.com

Arnold Baer

Loan Officer

775 Broadway

Somerville, MA 02145

(617) 284-9220

a.baer@phmcdirect.com

Jackie LaBerge

Senior Mortgage Specialist

PO BOX 9100

Chelsea, MA 02145

(617) 488-5477

jlaberge@metrocu.org

Chris Wise

Mortgage Specialist

PO BOX 9100

Chelsea, MA 02145

(617) 889-7660

cwise@metrocu.org

Address

399 Highland Avenue

Somerville, MA

Contact

(617) 628-4000

Fax (301) 639-0804

charles.gray@rocklandtrust.com

Address

775 Broadway

Somerville, MA

Contact

(617) 512-3999

Fax (301) 639-0804

fred@phmcdirect.com

Address

775 Broadway

Somerville, MA

Contact

(617) 284-9220

Fax (301) 639-0804

a.baer@phmcdirect.com

Refinancing News for Somerville, Massachusetts 02145