Refinance · Richmond Township, MI

Refinance your mortgage in Richmond Township, MI

What homes here are worth, what owners pay a month, and when a new rate pays for itself. Then one local lender.

Start my refinance match How refinance works

Census home value: $378,800; Median value of owner-occupied homes
Owners' monthly cost: $1,891; Median with a mortgage: loan, taxes, insurance (Census)
Homes owner-occupied: 95%; Share of homes lived in by owners (Census)

The numbers for Richmond Township

Worked from the local figures above. Each one says what it assumes; your own numbers come from your lender, agent or title company.

Cash-out to 80% of value

$303,000

The most most lenders lend against a $378,800 home here, before what you owe now

Closing costs, about 2.5%

$9,500

On a loan near the local value; your Loan Estimate has the real number

Break-even, example

63 months

If the new payment is $150 lower than the local median of $1,891 (8% less)

Refinance nearby

Ray Township Wales Township Berlin Township Richmond Memphis Lenox Township Armada Township Columbus Township Riley Township Armada

Who you are dealing with

Tevin Jackson, founder of Rebuild Detroit

Tevin Jackson founded Rebuild Detroit to put Metro Detroit's homes, numbers and local pros in one place you can trust. Every figure on this Richmond Township page says where it comes from, and every pro listed is ranked the same way, by reviews, license and years in business.

Detroit real estate investor
Author of Against All Odds and The Spark
Helped scale 100+ home service brands

Call (888) 471-3135 About Tevin How we check every pro

More for Richmond Township

Selling in Richmond Township

Buying and renting in Richmond Township

Owning a home in Richmond Township

Near Richmond Township

Macomb County

Refinance in Richmond Township FAQ

3 questions

When does a refinance pay off in Richmond Township?

When you keep the home longer than the break-even: closing costs divided by what you save a month. On a loan near the local value of $378,800, closing costs of about 2.5% are $9,500.

Does Rebuild Detroit make loans?

No. We match you with one licensed local lender, who quotes the rate and gives you a Loan Estimate. Check any loan officer on NMLS Consumer Access.

Where do these numbers come from?

Census five-year estimates for the place, the MLS and Zillow listings and sales in the Rebuild Detroit homes index, and the Rebuild Detroit directory for the local pros.