Refinance

Mortgage Refinancing: How to Get Started

What’s your goal?
Before deciding whether or not to refinance, you need to determine what your goals are. Remember, a refinance doesn’t pay down your debt; it simply restructures it, often at a lower interest rate and a different loan term than the current mortgage. Reducing the interest rate and expense is usually the reason most people refinance.

Colorado Mountains

Rocky Mountains

Debt consolidation is another reason of refinancing and this is known as a “cash out” refi. If you have both a first mortgage and a home equity mortgage, combining the two mortgages into one fixed-rate mortgage combines the payments over the loan term.

How to decide if refinancing is right for you? Contact us and we’ll explain it to you. We will gladly tell you if it is not the best option for you. We are not interested in doing a loan for you if it doesn’t make sense.