Choosing a Refinancing Option. Looking for a mortgage loan? We can assist you! Call us at (970) 300-2115. Ready to begin? Apply Online Now.

There are a huge number of refinancing programs available to borrowers. We can guide you to find the refinance program that will fit your situation the best. Contact us at (970) 300-2115 to get things started. Surveying your options, you will need to determine what you want to achieve with your refinance.

Making Your Payments Lower

Are achieving lower payments and an improved rate your main reasons for refinancing? In that case, the best option might be a low fixed-rate loan. Maybe you are presently in a mortgage with a high, fixed interest rate, or a loan in which the interest rate varies - an adjustable rate mortgage (ARM). Even as interest rates rise, a fixed-rate mortgage must remain at the same, low interest rate, unlike an ARM. If you are not planning a move in the near future (about five years), a fixed rate mortgage loan can particularly be a wise choice. However, an ARM with a low initial payment could be a better way to reduce your payments if you see yourself moving in the next few years.

Cashing Out

Is "cashing out" your primary purpose for refinancing? It could be you're planning a special vacation; you need to pay tuition for your college-bound child; or you are planning some home improvements. With this in mind, you need to look for a loan higher than the remaining balance on your existing mortgage.You will want to find a loan for more than the balance remaining of your current mortgage in that case. If you've had your current mortgage loan for a number of years and/or have a high interest mortgage, you may be able to do this without making your monthly payment bigger.

Consolidating Debt

Perhaps you want to pull out some of the equity in your home (cash out) to put toward other debt. If you hold any debt with steep interest (such as credit cards or car loans), you might be able to take care of that debt with a loan with a lower rate through your refinance, if you have enough home equity.

Building up Equity Faster

Are you wanting to fatten your home equity faster, and pay off your mortgage sooner? If this is your hope, the refinance can change you to a loan program with a shorter term, such as a 15 year loan. The mortgage payments will probably be higher than they were with the long-term mortgage loan, but in exchange, that you will pay considerably less interest and can build up equity more quickly. However, if you've held your existing 30 year loan for a number of years and the remaining balance is somewhat low, you might be able to do this without raising your monthly mortgage payment — you could even be able to save! To help you figure out your options and the many benefits in refinancing, please call us at (970) 300-2115. We are here for you.