Compare Today’s Refinance Rates for Farmington, New Mexico 87401
Pureloan's advanced engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Farmington, New Mexico 87401.
With a 30-year amortization refinance in Farmington and surrounding areas of San Juan county, our calculations show that you can expect to save up to $7,153 over the lifetime of your mortgage, or a monthly savings of $20. Pureloan explores all refinance loan options, including HELOC, short home refinancing, and positive equity refinancing for Farmington, New Mexico 87401.
Summary of Average Refinances in Farmington, New Mexico 87401
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Interactive Refinance Rate Projections for Farmington, New Mexico 87401
Pureloan has developed an interactive chart to monitor the five largest local lenders in Farmington, NM 87401, 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 Farmington, New Mexico 87401 from 2024 - 2016
The following historical data provides insights into refinancing trends in Farmington, New Mexico and the surrounding San Juan 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 Farmington, New Mexico 87401
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Farmington, New Mexico 87401, we have compiled a list of top refinance brokers to assist you in the process.
Tor Hayward
Loan officer
5600 Mickey Drive, Suite D
Farmington, NM 87401
(970) 257-9999
tor@majormortgage.com
Floyd Magee
Loan officer
4801 N. Butler Ave., Bldg. L, Suite 13101
Farmington, NM 87401
(505) 608-7022
fmagee@houseloan.com
Kerri Howlett
Loan officer
4801 N. Butler Ave., Bldg. L, Suite 13101
Farmington, NM 87401
(505) 608-7022
khowlett@houseloan.com
Karen Taft
Loan officer
500 W Broadway
Farmington, NM 87401
(505) 599-0141
karent@cbnm.com
Virginia Carrillo
Loan officer
500 W Broadway
Farmington, NM 87401
(505) 599-0141
virginiac@cbnm.com
Address
5600 Mickey Drive, Suite D
Farmington, NM
Contact
(970) 257-9999
Fax (301) 639-0804
tor@majormortgage.com
Address
4801 N. Butler Ave., Bldg. L, Suite 13101
Farmington, NM
Contact
(505) 608-7022
Fax (301) 639-0804
fmagee@houseloan.com
Address
4801 N. Butler Ave., Bldg. L, Suite 13101
Farmington, NM
Contact
(505) 608-7022
Fax (301) 639-0804
khowlett@houseloan.com