Compare Today’s Refinance Rates for Troy, Michigan 48007
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Troy, Michigan 48007.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $10,313 over the lifetime of your mortgage, which translates to a monthly savings of $29 in Troy and other areas of Oakland county. We analyze all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing, to provide you with the most suitable options for your financial situation.
Summary of Average Refinances in Troy, Michigan 48007
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Interactive Refinance Rate Projections for Troy, Michigan 48007
Pureloan has developed an interactive chart to monitor the five largest local lenders in Troy, MI 48007, 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 Troy, Michigan 48007 from 2024 - 2016
The following historical data provides insights into refinancing trends in Troy, 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 Troy, Michigan 48007
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Troy, Michigan 48007, we have compiled a list of top refinance brokers to assist you in the process.
Marty Pipoly
Mortgage Consultant
4820 Rochester Road
Troy, MI 48007
(248) 210-0412
marty.pipoly@phmloans.com
Justin Hanje
Mortgage Loan Specialist
2282 West Big Beaver
Troy, MI 48007
(248) 458-5750
mark.owen@53.com
Robin Ingalls
Mortgage Loan Specialist
2280 W Big Beaver Road
Troy, MI 48007
(248) 496-3205
debra.spurgeon@53.com
Sean Cragg
Loan officer
2301 West Big Beaver Road
Troy, MI 48007
(734) 634-2470
scragg@townemortgage.com
Jacqueline Rascon
Loan officer
2301 West Big Beaver Road
Troy, MI 48007
(248) 528-7252
jrascon@townemortgage.com
Address
4820 Rochester Road
Troy, MI
Contact
(248) 210-0412
Fax (301) 639-0804
marty.pipoly@phmloans.com
Address
2282 West Big Beaver
Troy, MI
Contact
(248) 458-5750
Fax (301) 639-0804
mark.owen@53.com
Address
2280 W Big Beaver Road
Troy, MI
Contact
(248) 496-3205
Fax (301) 639-0804
debra.spurgeon@53.com