Compare Today’s Refinance Rates for Madison Heights, Michigan 48071
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Madison Heights, Michigan 48071.
With a 30-year amortization refinance in Madison Heights and surrounding areas of Oakland county, our calculations show that you can expect to save up to $4,857 over the lifetime of your mortgage, or a monthly savings of $13. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Madison Heights, Michigan 48071.
Summary of Average Refinances in Madison Heights, Michigan 48071
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Interactive Refinance Rate Projections for Madison Heights, Michigan 48071
Pureloan has developed an interactive chart to monitor the five largest local lenders in Madison Heights, MI 48071, 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 Madison Heights, Michigan 48071 from 2024 - 2016
The following historical data provides insights into refinancing trends in Madison Heights, 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 Madison Heights, Michigan 48071
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Madison Heights, Michigan 48071, we have compiled a list of top refinance brokers to assist you in the process.
Kay Davis
Branch Manager/Mortgage Specialist
300 S Riverside Suite 105
St. Clair, FL 48071
(810) 201-5804
kdavis@unionhomemortgage.com
Bradley Silvius
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48071
(734) 417-3650
brad@a2mc.com
Christina Slade
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48071
(734) 476-9200
christina@a2mc.com
Susan Heren
Mortgage Loan Consultant
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI 48071
(734) 260-4299
susan@a2mc.com
Adam Ferguson
LOAN PRODUCTION officer
20700 Civic Center Drive, Suite 240
Southfield, MI 48071
(248) 799-9200
aferguson@bernardfinancial.com
Address
300 S Riverside Suite 105
St. Clair, FL
Contact
(810) 201-5804
Fax (301) 639-0804
kdavis@unionhomemortgage.com
Address
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI
Contact
(734) 417-3650
Fax (301) 639-0804
brad@a2mc.com
Address
140012, 25800 Northwestern Highway, Ste 110
Southfield, MI
Contact
(734) 476-9200
Fax (301) 639-0804
christina@a2mc.com