Compare Today’s Refinance Rates for Monroe, Michigan 48161
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Monroe, Michigan 48161.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Monroe, Michigan 48161. For 30-year amortization refinancing, you can expect lifetime cash savings of $3,946 or $11 per month in Monroe and other parts of Monroe county.
Summary of Average Refinances in Monroe, Michigan 48161
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Interactive Refinance Rate Projections for Monroe, Michigan 48161
Pureloan has developed an interactive chart to monitor the five largest local lenders in Monroe, MI 48161, 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 Monroe, Michigan 48161 from 2024 - 2016
The following historical data provides insights into refinancing trends in Monroe, Michigan and the surrounding Monroe 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 Monroe, Michigan 48161
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Monroe, Michigan 48161, we have compiled a list of top refinance brokers to assist you in the process.
Michael Tullis
Loan officer
15479 S Telegraph Rd
Monroe, MI 48161
(734) 652-0334
michael.tullis@noic.com
jacob Boes
Loan officer
15479 S Telegraph Rd
Monroe, MI 48161
(734) 652-0733
jacob.boes@noic.com
Chandra Fowler
Loan Officer
1535 North Telegraph Rd
Monroe, MI 48161
(800) 539-2968
chandra_fowler@keybank.com
Bill Lowery
Senior Loan Officer
41820 Six Mile Road Suite 100
Northville, MI 48161
(888) 422-6562
wlowery@mbmortgage.com
Carrie Summers
Processor/Loan Officer
41820 Six Mile Road Suite 100
Northville, MI 48161
(888) 422-6562
csummers@mbmortgage.com
Address
15479 S Telegraph Rd
Monroe, MI
Contact
(734) 652-0334
Fax (301) 639-0804
michael.tullis@noic.com
Address
15479 S Telegraph Rd
Monroe, MI
Contact
(734) 652-0733
Fax (301) 639-0804
jacob.boes@noic.com
Address
1535 North Telegraph Rd
Monroe, MI
Contact
(800) 539-2968
Fax (301) 639-0804
chandra_fowler@keybank.com