Compare Today’s Refinance Rates for Lemitar, New Mexico 87823
Pureloan's search engine provides real-time analysis of refinance lenders to find the best home refinance rates available in Lemitar, New Mexico 87823.
Our analysis indicates that for 30-year amortization refinancing, you can expect to save up to $4,743 over the lifetime of your mortgage, which translates to a monthly savings of $13 in Lemitar and other areas of Socorro 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 Lemitar, New Mexico 87823
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Interactive Refinance Rate Projections for Lemitar, New Mexico 87823
Pureloan has developed an interactive chart to monitor the five largest local lenders in Lemitar, NM 87823, 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 Lemitar, New Mexico 87823 from 2024 - 2016
The following historical data provides insights into refinancing trends in Lemitar, New Mexico and the surrounding Socorro 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 | |
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% 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 Lemitar, New Mexico 87823
If you are considering refinancing your mortgage or obtaining a cash-out refinance in Lemitar, New Mexico 87823, we have compiled a list of top refinance brokers to assist you in the process.
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