Compare Today’s Refinance Rates for Somerville, Massachusetts 02143
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Somerville, Massachusetts 02143.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $24,799 over the lifetime of your mortgage, which translates to a monthly savings of $69 in Somerville and other areas of Middlesex 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 Somerville, Massachusetts 02143
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Interactive Refinance Rate Projections for Somerville, Massachusetts 02143
Pureloan has developed an interactive chart to monitor the five largest local lenders in Somerville, MA 02143, 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 Somerville, Massachusetts 02143 from 2024 - 2016
The following historical data provides insights into refinancing trends in Somerville, Massachusetts and the surrounding Middlesex 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 | 100.00% | 57.29% | 63.08% | 64.17% | 67.63% | 67.03% | 59.52% | 62.28% | 55.61% |
avg refi rate | 6.23% | 3.50% | 2.96% | 3.24% | 4.15% | 4.58% | 4.05% | 3.87% | 4.04% |
% 15 year fixed refinance | 24.62% | 22.45% | 21.83% | 17.92% | 23.08% | 29.17% | 25.88% | 34.22% | |
avg refi rate | 2.75% | 2.47% | 2.83% | 3.49% | 3.86% | 3.24% | 3.11% | 3.34% | |
Avg credit score | 723.00 | 736.87 | 755.40 | 760.67 | 757.86 | 754.40 | 757.15 | 758.33 | 758.98 |
Avg LTV (loan to value) | 62.17% | 60.25% | 66.82% | 69.99% | 68.71% | 67.65% | 69.18% | 68.07% | 68.44% |
Avg DTI (debt to income) | 36.33 | 33.56 | 32.39 | 32.17 | 33.44 | 33.82 | 33.36 | 33.46 | 33.35 |
Avg refinance insurance % | 0.80% | 2.99% | 4.25% | 4.71% | 3.49% | 3.96% | 4.59% | 3.62% |
Best Refinance Brokers around Somerville, Massachusetts 02143
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Somerville, Massachusetts 02143, we have compiled a list of top refinance brokers to assist you in the process.
Charles Gray
Branch Manager
399 Highland Avenue
Somerville, MA 02143
(617) 628-4000
charles.gray@rocklandtrust.com
Fred Ginches
Loan Officer
775 Broadway
Somerville, MA 02143
(617) 512-3999
fred@phmcdirect.com
Arnold Baer
Loan Officer
775 Broadway
Somerville, MA 02143
(617) 284-9220
a.baer@phmcdirect.com
Lindsay Venza
Branch Manager
53 White Street
Cambridge, MA 02143
lvenza@cambridgesavings.com
Tim Brennan
Loan Officer
46 Church Street
Braintree, MA 02143
(800) 860-8821
tbrennan@camdennational.com
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