Compare Today’s Refinance Rates for Oak Park, Michigan 48237
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Oak Park, Michigan 48237.
With a 30-year amortization refinance in Oak Park and surrounding areas of Oakland county, our calculations show that you can expect to save up to $2,154 over the lifetime of your mortgage, or a monthly savings of $6. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Oak Park, Michigan 48237.
Summary of Average Refinances in Oak Park, Michigan 48237
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Interactive Refinance Rate Projections for Oak Park, Michigan 48237
Pureloan has developed an interactive chart to monitor the five largest local lenders in Oak Park, MI 48237, 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 Oak Park, Michigan 48237 from 2024 - 2016
The following historical data provides insights into refinancing trends in Oak Park, 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 Oak Park, Michigan 48237
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Oak Park, Michigan 48237, we have compiled a list of top refinance brokers to assist you in the process.
Colleen Fitzgibbon
Mortgage Banker
685 SAINT CLAIR ST
GROSSE POINTE, MI 48237
(313) 770-3109
colleen.fitzgibbon@chase.com
Stephen Hoffmann
Mortgage Banker
685 St Clair Ave
Grosse Pointe, MI 48237
(313) 640-9501
stephen.b.hoffmann@chase.com
Edward Sanders
Loan Officer
777 Woodward Ave
Detroit, MI 48237
(844) 279-0570
edward.sanders@citizensbank.com
Victoria Berardi
Loan Officer
633 Notre Dame
Grosse Pointe, MI 48237
(855) 899-6996
victoria.berardi@citizensbank.com
Tim Wood
Loan officer
7020 W Seven Mile Rd,
Detroit, MI 48237
(24) 888-3730
twood@firstindependence.com
Address
685 SAINT CLAIR ST
GROSSE POINTE, MI
Contact
(313) 770-3109
Fax (301) 639-0804
colleen.fitzgibbon@chase.com
Address
685 St Clair Ave
Grosse Pointe, MI
Contact
(313) 640-9501
Fax (301) 639-0804
stephen.b.hoffmann@chase.com
Address
777 Woodward Ave
Detroit, MI
Contact
(844) 279-0570
Fax (301) 639-0804
edward.sanders@citizensbank.com