Refinance Mortgage

Expert Mortgage Refinance Services

Refinancing your home can offer many benefits to your financial future. We help clients navigate the complex refinance process and understand their options. 5280Lend.com specializes in home financing solutions for homebuyers in Colorado.

Understanding the best time to refinance and the requirements involved can feel overwhelming. That’s why you need a trusted expert on your side.

There’s a lot of information out there, and you want access to the best available deals and rates. As Colorado mortgage experts, our team helps homeowners through the refinance process. Working with us offers peace of mind.

Contact us to schedule a FREE mortgage assessment.

What Is A Home Mortgage Refinance?

A refinanced mortgage is when you take out a new loan to change and improve the terms of your existing home loan. Just as with the original mortgage loan, your property is the collateral or security for the new loan.

The most common reasons for refinancing include the following:

  • Lowering your interest rate and monthly payment.
  • Paying off or Consolidating other debts.
  • Getting cash back from the equity in your home to finance Home Improvements.
  • Getting cast back to finance a Business Opportunity or an Investment Property.

Homeowners who are looking to refinance their existing loans should consider the following factors before deciding:

  • Home much the property is worth.
  • Current Market Interest Rates.
  • Closing cost options.
  • Qualifying issues.
  • PMI (Private Mortgage Insurance).

5280Lend.com can help with any of these issues and others.

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Refinance Your Home
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How Does A Home Refinance Work?

Home refinancing works much like an original mortgage; however, it can be less stressful and requires fewer steps.

Application

The borrower must apply for a mortgage refinance and provide specific financial documents, like Paycheck Stubs, W-2s, and bank statements (other documents may apply). The borrower must meet the loan requirements to move forward with the loan.

A home refinance usually requires a current appraisal of the home’s value. In most cases, the value of the home increases over time. The loan amount is restricted to a certain percentage of the appraised value.

During the underwriting process, the lender confirms the information supplied on the application and reviews all the documents and information that were gathered while the loan was being processed. Underwriters are who will issue a Final Approval and once that is done, a closing can be scheduled.

At the closing, the borrower(s) sign the closing documents and the Promissory Note.  The lender then pays off the old mortgage and issues the new mortgage with the new terms.

What Are the Benefits of a Home Mortgage Refinance?

  • It can reduce your interest rate and your monthly payment.
  • It provides you with the flexibility to change the terms of your loan if your financial situation changes.
  • It is a way for you access to the home’s equity for many different reasons.
  • There are very few restrictions on how often you are able to refinance.

Why Work with a Mortgage Bank on a Home Refinance?

Working with a mortgage banker gives you a trusted partner as you consider refinancing. At 5280Lend.com, we understand refinancing and what’s required to move forward. We work with buyers in Colorado to locate and secure the best lending solutions.

We aim to provide top service that includes clear communication and a personalized approach. We maintain our high standards by limiting the number of clients we work with monthly.

As a local mortgage bank, we understand Colorado’s mortgage refinance process and requirements.

Start today with a FREE refinance assessment.

Refinance Mortgage FAQs

Can I Refinance with No Closing Costs?

Most mortgage companies can offer a limited or no-closing cost option for a mortgage refinance. Unfortunately, most lenders won’t provide these cost-effective options.

Most consumers are so focused on getting a low-interest rate that most mortgage companies won’t bother to explain what goes into reducing or eliminating closing costs. In other words, most lenders don’t invest in properly training their staff on how to educate borrowers to look thoroughly at all of their options.

5280Lend.com is different. We work with you to optimize your refinance.

There are several factors to consider when determining whether to refinance:

  • Your Current Interest Rate – You will want to compare the current interest rate against the new rate offered by the lender. This is, obviously, a critical element of refinancing.
  • Your Loan Term – You will also want to look at the length of the loan term. A shorter term usually means higher monthly payments, but there are lots of things to consider.
  • Your Credit Score – Your credit score will play an essential role in the loan terms that will be available to you. Generally speaking, better credit scores are afforded better options.
  • Other Factors – There are frequent changes to loan terms, interest rate options, underwriting requirements, and other market conditions. Because things change frequently, it is recommended to work with a company that stays on top of these changes.

We can help you look at your current situation and compare that with the available options to determine whether a refinance is the best solution to help you meet your financial goals.

Yes! Most lenders will accept borrowers with lower credit scores for a refinance. 5280Lend.com can also assist with helping you quickly increase credit scores in many cases.  Each case differs. It’s best to work with a trusted mortgage banker to ensure you’re in the best position to find a favorable loan.

Colorado’s Knowledgeable Mortgage Refinance Bank

5280Lend.com makes refinancing easier. Homeowners get presented with many different sales pitches and unrealistic options which can make the process confusing. We help give you some objective options so you can make an informed decision about your refinance.

We help clients in Colorado and the Denver area refinance their homes. We will thoroughly analyze your finances to determine the best solution for you.

To start the process or learn more, fill out a CONTACT FORM or CALL us to schedule a consultation.

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Working with Ted on my refinance was wonderful. He was so patient and helpful throughout the entire process and kept me informed every step of the way. Ted never hesitated to answer my questions and make sure that I knew everything that was going on and why things were happening. I couldn’t have done this without him.

Meal Prepaholic