Compare Today’s Refinance Rates for Belen, New Mexico 87002
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Belen, New Mexico 87002.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $4,014 over the lifetime of your mortgage, which translates to a monthly savings of $11 in Belen and other areas of Valencia 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.
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Summary of Average Refinances in Belen, New Mexico 87002
Rate
APR
Expected Savings
Monthly Payment
Total Closing Costs
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Interactive Refinance Rate Projections for Belen, New Mexico 87002
Pureloan has developed an interactive chart to monitor the five largest local lenders in Belen, NM 87002, 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 Belen, New Mexico 87002 from 2024 - 2016
The following historical data provides insights into refinancing trends in Belen, New Mexico and the surrounding Valencia 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 | 100.00% | 53.90% | 58.54% | 59.42% | 72.12% | 71.83% | 56.78% | 66.10% | 64.00% |
avg refi rate | 6.25% | 3.74% | 3.03% | 3.38% | 4.27% | 4.55% | 4.17% | 3.92% | 4.11% |
% 15 year fixed refinance | 31.91% | 25.72% | 26.61% | 17.31% | 19.72% | 38.98% | 26.27% | 22.00% | |
avg refi rate | 2.83% | 2.50% | 2.85% | 3.72% | 3.82% | 3.32% | 3.19% | 3.28% | |
Avg credit score | 736.60 | 814.35 | 751.66 | 759.41 | 750.57 | 737.14 | 750.94 | 759.10 | 747.84 |
Avg LTV (loan to value) | 67.40% | 58.89% | 64.97% | 68.83% | 67.24% | 69.58% | 68.17% | 70.53% | 70.11% |
Avg DTI (debt to income) | 33.00 | 32.00 | 30.96 | 30.93 | 32.87 | 34.39 | 31.66 | 32.68 | 32.68 |
Avg refinance insurance % | 6.00% | 0.69% | 1.95% | 3.01% | 4.13% | 3.62% | 3.46% | 4.32% | 3.68% |
Best Refinance Brokers around Belen, New Mexico 87002
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Belen, New Mexico 87002, we have compiled a list of top refinance brokers to assist you in the process.
Name
Address
Contact
Maria Marez
Loan officer
601 Main St. Suite #22A
Los Lunas, NM 87002
(505) 565-5474
mmarez@loansimple.com
Address
601 Main St. Suite #22A
Los Lunas, NM
Contact
(505) 565-5474
Fax (301) 639-0804
mmarez@loansimple.com