Compare Today’s Refinance Rates for Franklin, Maine 04634
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Franklin, Maine 04634.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $8,308 over the lifetime of your mortgage, which translates to a monthly savings of $23 in Franklin and other areas of Hancock 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 Franklin, Maine 04634
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Interactive Refinance Rate Projections for Franklin, Maine 04634
Pureloan has developed an interactive chart to monitor the five largest local lenders in Franklin, ME 04634, 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 Franklin, Maine 04634 from 2024 - 2016
The following historical data provides insights into refinancing trends in Franklin, Maine and the surrounding Hancock 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 | 76.47% | 52.78% | 57.32% | 55.39% | 61.02% | 49.87% | 49.92% | 52.64% | 53.68% |
| avg refi rate | 6.46% | 3.58% | 3.01% | 3.34% | 4.18% | 4.60% | 4.14% | 3.91% | 4.11% |
| % 15 year fixed refinance | 17.65% | 30.63% | 25.74% | 27.38% | 25.10% | 36.78% | 37.08% | 34.53% | 32.79% |
| avg refi rate | 4.96% | 2.84% | 2.50% | 2.84% | 3.60% | 3.93% | 3.36% | 3.14% | 3.30% |
| Avg credit score | 753.76 | 752.95 | 754.95 | 759.07 | 750.99 | 736.44 | 745.18 | 752.84 | 754.08 |
| Avg LTV (loan to value) | 61.41% | 60.03% | 65.50% | 70.04% | 72.56% | 68.89% | 71.84% | 72.12% | 72.02% |
| Avg DTI (debt to income) | 36.24 | 32.99 | 30.78 | 31.04 | 32.41 | 32.66 | 32.42 | 31.90 | 30.90 |
| Avg refinance insurance % | 3.65% | 0.89% | 2.06% | 3.48% | 5.53% | 3.68% | 4.20% | 5.08% | 5.42% |
Best Refinance Brokers around Franklin, Maine 04634
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Franklin, Maine 04634, we have compiled a list of top refinance brokers to assist you in the process.
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