Compare Today’s Refinance Rates for Livonia, Michigan 48154
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Livonia, Michigan 48154.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Livonia, Michigan 48154. For 30-year amortization refinancing, you can expect lifetime cash savings of $4,815 or $13 per month in Livonia and other parts of Wayne county.
Summary of Average Refinances in Livonia, Michigan 48154
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Interactive Refinance Rate Projections for Livonia, Michigan 48154
Pureloan has developed an interactive chart to monitor the five largest local lenders in Livonia, MI 48154, 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 Livonia, Michigan 48154 from 2024 - 2016
The following historical data provides insights into refinancing trends in Livonia, Michigan and the surrounding Wayne 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 Livonia, Michigan 48154
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Livonia, Michigan 48154, we have compiled a list of top refinance brokers to assist you in the process.
Joe Wallen
Residential Loan Officer
37601 W. Five Mile Road
Livonia, MI 48154
(248) 539-5618
jwallen@ibcp.com
Jeff Clatterbaugh
VP Area Sales Manager
37601 W. Five Mile Road
Livonia, MI 48154
(248) 743-4027
jclatterbaugh@ibcp.com
Alisa Copas
Loan Officer
37655 W 6 Mile Rd
Livonia, MI 48154
(248) 396-9111
alisa.copas@flagstar.com
Wendy Hewitt
Loan Officer
37373 W Seven Mile Rd
Livonia, MI 48154
(313) 337-7702
wendy.hewitt@dfcufinancial.com
Teri Mcdaniel
Loan Officer
37373 W Seven Mile Rd
Livonia, MI 48154
(888) 337-7770
teri.mcdaniel@dfcufinancial.com
Address
37601 W. Five Mile Road
Livonia, MI
Contact
(248) 539-5618
Fax (301) 639-0804
jwallen@ibcp.com
Address
37601 W. Five Mile Road
Livonia, MI
Contact
(248) 743-4027
Fax (301) 639-0804
jclatterbaugh@ibcp.com
Address
37655 W 6 Mile Rd
Livonia, MI
Contact
(248) 396-9111
Fax (301) 639-0804
alisa.copas@flagstar.com