Compare Today’s Refinance Rates for Farmington, Michigan 48332
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Farmington, Michigan 48332.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Farmington, Michigan 48332. For 30-year amortization refinancing, you can expect lifetime cash savings of $5,034 or $14 per month in Farmington and other parts of Oakland county.
Summary of Average Refinances in Farmington, Michigan 48332
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Interactive Refinance Rate Projections for Farmington, Michigan 48332
Pureloan has developed an interactive chart to monitor the five largest local lenders in Farmington, MI 48332, 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 Farmington, Michigan 48332 from 2024 - 2016
The following historical data provides insights into refinancing trends in Farmington, Michigan and the surrounding Oakland 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 | 82.61% | 58.01% | 56.80% | 55.14% | 62.60% | 54.95% | 52.28% | 52.83% | 54.68% |
avg refi rate | 6.46% | 3.61% | 3.01% | 3.29% | 4.17% | 4.58% | 4.14% | 3.96% | 4.14% |
% 15 year fixed refinance | 13.04% | 26.19% | 26.83% | 26.58% | 21.76% | 32.42% | 34.70% | 33.88% | 31.87% |
avg refi rate | 5.78% | 2.81% | 2.47% | 2.80% | 3.64% | 3.91% | 3.39% | 3.20% | 3.38% |
Avg credit score | 735.75 | 740.32 | 752.34 | 757.61 | 746.87 | 740.69 | 746.29 | 751.67 | 754.48 |
Avg LTV (loan to value) | 62.64% | 61.38% | 65.49% | 69.51% | 73.18% | 67.93% | 70.23% | 71.59% | 72.41% |
Avg DTI (debt to income) | 37.35 | 33.47 | 32.28 | 31.96 | 33.16 | 34.03 | 33.28 | 32.28 | 31.69 |
Avg refinance insurance % | 2.29% | 1.30% | 2.21% | 3.64% | 5.58% | 3.00% | 3.69% | 4.13% | 4.54% |
Best Refinance Brokers around Farmington, Michigan 48332
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Farmington, Michigan 48332, we have compiled a list of top refinance brokers to assist you in the process.
Jeffrey Zimmerman
Vice president Jeffrey Scott Zimmerman
21898 Farmington Rd
Farmington, MI 48332
(248) 770-7408
jzimmerman@simplemortgage.cc
Syd Williams
Loan Officer Syd Williams
21898 Farmington Rd
Farmington, MI 48332
(586) 549-6704
swilliams@simplemortgage.cc
Amelia Watts
Loan Officer Amelia Watts
21898 Farmington Rd
Farmington, MI 48332
(865) 919-1399
awatts@simplemortgage.cc
Randy Smith
Loan Officer Randy Smith
21898 Farmington Rd
Farmington, MI 48332
(810) 241-1547
rsmith@simplemortgage.cc
Mitra Sharifi
Branch Manager Mitra Sharifi
21898 Farmington Rd
Farmington, MI 48332
(615) 669-3382
msharifi@simplemortgage.cc
Address
21898 Farmington Rd
Farmington, MI
Contact
(248) 770-7408
Fax (301) 639-0804
jzimmerman@simplemortgage.cc
Address
21898 Farmington Rd
Farmington, MI
Contact
(586) 549-6704
Fax (301) 639-0804
swilliams@simplemortgage.cc
Address
21898 Farmington Rd
Farmington, MI
Contact
(865) 919-1399
Fax (301) 639-0804
awatts@simplemortgage.cc