Compare Today’s Refinance Rates for Southfield, Michigan 48086
Pureloan's search engine analyzes refinance lenders to provide you with the best real-time home refinance rates in Southfield, Michigan 48086.
Our search engine evaluates all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing in Southfield, Michigan 48086. For 30-year amortization refinancing, you can expect lifetime cash savings of $3,290 or $9 per month in Southfield and other parts of Oakland county.
Summary of Average Refinances in Southfield, Michigan 48086
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Interactive Refinance Rate Projections for Southfield, Michigan 48086
Pureloan has developed an interactive chart to monitor the five largest local lenders in Southfield, MI 48086, 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 Southfield, Michigan 48086 from 2024 - 2016
The following historical data provides insights into refinancing trends in Southfield, 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 Southfield, Michigan 48086
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Southfield, Michigan 48086, we have compiled a list of top refinance brokers to assist you in the process.
John Fein
Mortgage Loan Specialist
1000 Town Center Suite 1300
Southfield, MI 48086
(248) 603-0697
marvin.rankin@53.com
Derek Shuk
Mortgage Loan Specialist
1000 Town Center Suite 1300
Southfield, MI 48086
(248) 603-0124
donald.precour@53.com
Zane Carrington
Loan Officer
2000 Town Center Suite 1900
Southfield, MI 48086
(615) 333-1495
zcarrington@sagamoremtg.com
Tracy Cecil
Loan Officer
2000 Town Center Suite 1900
Southfield, MI 48086
(859) 757-7079
tcecil@sagamoremtg.com
Terry McLeroy
Loan Officer
2000 Town Center Suite 1900
Southfield, MI 48086
(317) 252-0064
terrym@sagamoremtg.com
Address
1000 Town Center Suite 1300
Southfield, MI
Contact
(248) 603-0697
Fax (301) 639-0804
marvin.rankin@53.com
Address
1000 Town Center Suite 1300
Southfield, MI
Contact
(248) 603-0124
Fax (301) 639-0804
donald.precour@53.com
Address
2000 Town Center Suite 1900
Southfield, MI
Contact
(615) 333-1495
Fax (301) 639-0804
zcarrington@sagamoremtg.com