Refinance · Colorado, California, Georgia & Texas
Refinance Your Mortgage in Colorado
Lower the rate, drop the mortgage insurance, shorten the term, or pull equity out. First we find out whether it is actually worth doing.
Overview
A refinance is a math problem before it is a mortgage.
Refinancing replaces your current loan with a new one. That is the easy part. The part most lenders skip is whether the new loan actually leaves you better off once you account for closing costs, the years you reset, and the mortgage insurance you may or may not shed. I will run your break-even before you spend a dollar — and if the answer is that you should keep the loan you have, that is what I will tell you. Colorado homeowners who bought between 2022 and 2024 are the most common candidates right now, along with anyone carrying FHA mortgage insurance who has crossed 20% equity.
Who it is for
Refinancing is usually worth a look if…
- You bought when rates were higher than they are today
- You are paying FHA mortgage insurance and now have real equity
- You have a VA loan and have not looked at an IRRRL
- You want to convert equity into cash for debt payoff or renovation
- You are on an adjustable rate and want the certainty of a fixed
- You want to shorten from 30 years to 20 or 15 without a big payment jump
The options
Four ways to refinance, and what each one is for
Rate-and-term
Lower your rate or shorten your term. The cleanest refinance, and the one with the clearest break-even. See how it works.
Cash-out
Convert equity into cash for debt payoff, renovation or investment. Typically capped at 80% of value. See the limits.
VA IRRRL
Have a VA loan? The Interest Rate Reduction Refinance usually needs no appraisal and no income docs. See if you qualify.
FHA Streamline
Have an FHA loan? Streamline into a lower rate with reduced documentation and often no appraisal. See the requirements.
Dropping mortgage insurance
Conventional PMI falls off at 80% loan-to-value. If your home has appreciated, a refinance can get you there years early.
Consolidating a second
Rolling a HELOC or second mortgage into your first can simplify the payment — if the blended rate justifies it.
Should you refinance? Let us find out.
Send me your current rate, balance and approximate value. I will come back with the break-even in plain numbers. Call (303) 557-3846 or start online.