Compare Today’s Refinance Rates for Elk Rapids, Michigan 49629
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Elk Rapids, Michigan 49629.
With a 30-year amortization refinance in Elk Rapids and surrounding areas of Antrim county, our calculations show that you can expect to save up to $4,187 over the lifetime of your mortgage, or a monthly savings of $12. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Elk Rapids, Michigan 49629.
Summary of Average Refinances in Elk Rapids, Michigan 49629
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Interactive Refinance Rate Projections for Elk Rapids, Michigan 49629
Pureloan has developed an interactive chart to monitor the five largest local lenders in Elk Rapids, MI 49629, 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 Elk Rapids, Michigan 49629 from 2024 - 2016
The following historical data provides insights into refinancing trends in Elk Rapids, Michigan and the surrounding Antrim 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% | 57.79% | 55.43% | 58.06% | 67.18% | 57.80% | 55.56% | 53.26% | 47.76% |
| avg refi rate | 6.56% | 3.73% | 2.99% | 3.33% | 4.30% | 4.59% | 4.09% | 3.89% | 4.08% |
| % 15 year fixed refinance | 24.57% | 27.41% | 25.60% | 21.96% | 32.57% | 36.11% | 36.81% | 40.06% | |
| avg refi rate | 2.77% | 2.49% | 2.79% | 3.58% | 3.96% | 3.32% | 3.18% | 3.26% | |
| Avg credit score | 722.88 | 746.80 | 759.08 | 761.94 | 755.05 | 748.63 | 755.84 | 760.09 | 759.58 |
| Avg LTV (loan to value) | 58.88% | 55.33% | 60.65% | 65.73% | 67.63% | 66.87% | 67.25% | 68.77% | 66.20% |
| Avg DTI (debt to income) | 38.69 | 33.00 | 32.50 | 31.83 | 33.68 | 33.97 | 32.76 | 32.32 | 31.47 |
| Avg refinance insurance % | 3.75% | 0.88% | 1.60% | 2.89% | 3.81% | 3.34% | 3.90% | 3.40% | 2.46% |
Best Refinance Brokers around Elk Rapids, Michigan 49629
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Elk Rapids, Michigan 49629, we have compiled a list of top refinance brokers to assist you in the process.
Camille Major
Loan Officer
11470 S. Leelanau Hwy.(M-22)
Empire, MI 49629
(989) 448-8748
cmajor@ssbankmi.com
Linda Waisanen
Loan Officer
11470 S. Leelanau Hwy.(M-22)
Empire, MI 49629
(231) 943-2549
lwaisanen@ssbankmi.com
Mollie Hammersley
Loan Officer
11470 S. Leelanau Hwy.(M-22)
Empire, MI 49629
(231) 360-0250
mhammersley@ssbankmi.com
Norma Corwin
Loan Officer
11470 S. Leelanau Hwy.(M-22)
Empire, MI 49629
(231) 352-5347
ncorwin@ssbankmi.com
Dave Durbin
Loan Officer
109 S Union St
Traverse City, MI 49629
(231) 933-9400
ddurbin@bayloans.net
Address
11470 S. Leelanau Hwy.(M-22)
Empire, MI
Contact
(989) 448-8748
Fax (301) 639-0804
cmajor@ssbankmi.com
Address
11470 S. Leelanau Hwy.(M-22)
Empire, MI
Contact
(231) 943-2549
Fax (301) 639-0804
lwaisanen@ssbankmi.com
Address
11470 S. Leelanau Hwy.(M-22)
Empire, MI
Contact
(231) 360-0250
Fax (301) 639-0804
mhammersley@ssbankmi.com