Compare Today’s Refinance Rates for Chelsea, Michigan 48118
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Chelsea, Michigan 48118.
With a 30-year amortization refinance in Chelsea and surrounding areas of Washtenaw county, our calculations show that you can expect to save up to $6,169 over the lifetime of your mortgage, or a monthly savings of $17. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Chelsea, Michigan 48118.
Summary of Average Refinances in Chelsea, Michigan 48118
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Interactive Refinance Rate Projections for Chelsea, Michigan 48118
Pureloan has developed an interactive chart to monitor the five largest local lenders in Chelsea, MI 48118, 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 Chelsea, Michigan 48118 from 2024 - 2016
The following historical data provides insights into refinancing trends in Chelsea, Michigan and the surrounding Washtenaw 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 | 75.00% | 51.25% | 53.89% | 54.26% | 63.42% | 51.47% | 47.40% | 50.31% | 52.20% |
| avg refi rate | 6.62% | 3.61% | 2.99% | 3.29% | 4.17% | 4.58% | 4.12% | 3.95% | 4.16% |
| % 15 year fixed refinance | 16.67% | 31.58% | 29.43% | 27.60% | 22.42% | 36.70% | 39.13% | 35.64% | 31.73% |
| avg refi rate | 5.33% | 2.78% | 2.47% | 2.79% | 3.67% | 3.85% | 3.37% | 3.18% | 3.39% |
| Avg credit score | 734.42 | 755.65 | 756.10 | 759.57 | 748.02 | 740.20 | 750.52 | 755.68 | 755.47 |
| Avg LTV (loan to value) | 62.85% | 61.95% | 65.28% | 69.15% | 72.24% | 68.61% | 69.84% | 70.83% | 72.03% |
| Avg DTI (debt to income) | 38.96 | 33.38 | 31.71 | 31.60 | 33.32 | 33.32 | 32.76 | 31.86 | 31.65 |
| Avg refinance insurance % | 2.90% | 1.31% | 2.10% | 3.34% | 5.34% | 3.04% | 3.71% | 3.92% | 4.58% |
Best Refinance Brokers around Chelsea, Michigan 48118
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Chelsea, Michigan 48118, we have compiled a list of top refinance brokers to assist you in the process.
Linda Morris
Mortgage Banker
1324 Monroe
Dearborn, MI 48118
(313) 274-4976
linda.x.morris@chase.com
Bryan Laabs
Loan Officers
22315 Michigan Avenue
Dearborn, MI 48118
(313) 203-5345
blaabs@dfsb.net
Scott Biers
Loan Officers
22315 Michigan Avenue
Dearborn, MI 48118
(313) 203-5343
sbiers@dfsb.net
Ali Saad
Senior Residential Loan Officer
16030 Michigan Ave., Suite 210
Dearborn, MI 48118
(248) 743-4043
asaad@ibcp.com
Jouhaina Abulhassan
Residential Loan Officer
16030 Michigan Ave., Suite 210
Dearborn, MI 48118
(313) 446-8672
jabulhassan@ibcp.com
Address
1324 Monroe
Dearborn, MI
Contact
(313) 274-4976
Fax (301) 639-0804
linda.x.morris@chase.com
Address
22315 Michigan Avenue
Dearborn, MI
Contact
(313) 203-5345
Fax (301) 639-0804
blaabs@dfsb.net
Address
22315 Michigan Avenue
Dearborn, MI
Contact
(313) 203-5343
Fax (301) 639-0804
sbiers@dfsb.net