Compare Today’s Refinance Rates for Novi, Michigan 48376
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Novi, Michigan 48376.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Novi, Michigan 48376. For 30-year amortization refinancing, you can expect lifetime cash savings of $2,793 or $8 per month in Novi and other parts of Oakland county.
Summary of Average Refinances in Novi, Michigan 48376
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Interactive Refinance Rate Projections for Novi, Michigan 48376
Pureloan has developed an interactive chart to monitor the five largest local lenders in Novi, MI 48376, 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 Novi, Michigan 48376 from 2024 - 2016
The following historical data provides insights into refinancing trends in Novi, 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 Novi, Michigan 48376
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Novi, Michigan 48376, we have compiled a list of top refinance brokers to assist you in the process.
Muhammad Saleem
Associate Broker
26870 Beck Road
Novi, MI 48376
(248) 348-3000
muhammad@reoindustrydirectory.com
Tyson Redifer
Loan Officer
28175 Haggerty Rd.
Novi, MI 48376
(86) 674-1167
tyson.redifer@citizensbank.com
Tom Regan
Loan Officer
28175 Haggerty Road
Novi, MI 48376
(844) 448-1504
tom.regan@citizensbank.com
Ryan French
Loan Officer
28175 Haggerty Rd.
Novi, MI 48376
(844) 259-6616
ryan.french@citizensbank.com
Robert Shannon
Loan Officer
28175 Haggerty Road
Novi, MI 48376
(844) 358-2431
robert.shannon@citizensbank.com
Address
26870 Beck Road
Novi, MI
Contact
(248) 348-3000
Fax (301) 639-0804
muhammad@reoindustrydirectory.com
Address
28175 Haggerty Rd.
Novi, MI
Contact
(86) 674-1167
Fax (301) 639-0804
tyson.redifer@citizensbank.com
Address
28175 Haggerty Road
Novi, MI
Contact
(844) 448-1504
Fax (301) 639-0804
tom.regan@citizensbank.com