Compare Today’s Refinance Rates for Detroit, Michigan

Pureloan’s engine analyzes refinance lenders to give you the best real-time home refi rates for Detroit, Michigan 48234. Search for cash-out refi, lower interest rates, or a home equity loan. For 30-year amortization refinancing in Detroit and surrounding areas of Wayne county, your expected lifetime cash savings are $1,318 or $4 / month.

Pureloan analyzes all refinance loan options including HELOC, short home refinancing, and positive equity refinancing for Detroit, Michigan 48234.

30 Year Fixed Mortgage Rates Customized for April 21, 2021

Today's 30 Year Fixed Mortgage Rates

Summary of Average Refinance Terms in Detroit, Michigan 48234

Rate

APR

Expected Savings

Monthly Payment

Total Closing Costs

Customized Refinance Rate Projections for Detroit, MI

Source: Fannie Mae and Freddie Mac


For refinance rate forecasts and predictions in Detroit, MI 48234, Pureloan has created an interactive chart to track the 5 largest local lenders for refi's and cash-out's. Historical rates are based on closed refinancings, and projections are based on proprietary modeling.

Local Refinance Rates for Detroit, MI

Refinance Rates for Detroit, Michigan 48234 from 2013 - 2020

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

2013 2014 2015 2016 2017 2018 2019 2020
% 30 year fixed refinance 45.00% 33.75% 41.13% 43.64% 51.50% 54.98% 52.82% 53.25%
avg refi rate 4.89% 4.61% 3.95% 3.81% 4.57% 4.17% 3.96% 4.02%
% 15 year fixed refinance 42.95% 43.96% 42.24% 43.29% 36.70% 31.70% 33.85% 35.34%
avg refi rate 4.26% 3.87% 3.27% 3.05% 3.62% 3.38% 3.19% 3.26%
Avg credit score 775.41 773.05 772.99 767.37 753.38 754.28 751.83 748.68
Avg LTV (loan to value) 65.48% 67.06% 68.25% 68.15% 72.25% 72.61% 71.50% 69.51%
Avg DTI (debt to income) 29.73 29.11 29.33 29.63 31.68 31.66 32.29 33.35
Avg refinance insurance % 0.86% 0.94% 1.87% 2.20% 4.51% 4.80% 4.13% 3.63%

Data produced from the Financial Report of the US Government

Best Refinance Brokers Around Detroit, Michigan 48234

Whether you are looking to refinance your existing mortgage or obtain a cash-out refi in Detroit, Michigan 48234, we have compiled a list of the leading refinance brokers to guide you.

Name
Address
Contact

Michelle Baker

Mortgage Loan Specialist

One Woodward Ave

Detroit, MI 48234

(313) 230-9127

steven.smith@53.com

Terrence Gilmore

Loan Officer

2222 Conner St

Detroit, MI 48234

(877) 573-2324

terrence_gilmore@navyfederal.org

Pamela Stevenson

Loan Officer

2222 Conner St

Detroit, MI 48234

(877) 573-2324

pamela_stevenson@navyfederal.org

Melanie

Loan Officer

2222 Conner St

Detroit, MI 48234

(877) 573-2324

melanie_moore@navyfederal.org

Lisa

Loan Officer

2222 Conner St

Detroit, MI 48234

(877) 573-2324

lisa_staggers@navyfederal.org

Address

One Woodward Ave

Detroit, MI

Contact

(313) 230-9127

Fax (301) 639-0804

steven.smith@53.com

Address

2222 Conner St

Detroit, MI

Contact

(877) 573-2324

Fax (301) 639-0804

terrence_gilmore@navyfederal.org

Address

2222 Conner St

Detroit, MI

Contact

(877) 573-2324

Fax (301) 639-0804

pamela_stevenson@navyfederal.org

Refinancing News for Detroit, Michigan 48234