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Refinance Your Home

As top-tier mortgage brokers, Locus Mortgage offers a wide variety of refinancing home programs to help you get what you need. These include:

Rate-Term Reduction

This is a home refinancing option where the goal is to save on the cash flow each month or reduce the years you pay on your loan.
You can lower your rate and/or term on a Conventional, FHA, VA, or Jumbo loan.
This can help you save a lot over the life of the refinancing loan Colorado.

Cash-Out Refinance

This is a home refinancing option where you can get cash out of your home’s equity and potentially lower your rate at the same time.
The cash can be used for various purposes, such as paying off debt like a Home Equity Line of Credit (HELOC), Credit Cards, education expenses, or other large expenses.
The main goal here is to secure a low rate and a great deal, which can help improve your financial situation.

Reverse Mortgage Refinance

If you currently have a Home Equity Conversion Mortgage (HECM) for Reverse or another kind of reverse mortgage, refinancing a home can bring additional benefits.
When the refinance rates Colorado drop, your access to equity can increase. If you are currently on a fixed rate, you can reduce your rate and slow the growth of interest on the new reverse mortgage. This can help preserve your home’s equity for longer and provide more financial flexibility.
If you currently have an adjustable rate you might be able to refinance to tap into more of your home’s equity.
If you do not currently have a Reverse Mortgage, you can still move your Conventional Mortgage to a Reverse Mortgage. The Reverse Mortgage will pay off your Conventional, FHA, VA or other kind of “forward” mortgage.

Pros and Cons To Refinancing Your Home

There can be various angles you might need to consider before refinancing your home. You should know the pros and cons:

The Benefits

  • Lower Interest Rates:  Home refinancing can unlock a lower interest rate than your current mortgage, leading to significant long-term savings. In addition, our mortgage interest rates today in Colorado are designed to make things easier.
  • Reduced Monthly Payments: Lower interest rates or extending the loan term can decrease your monthly payments, freeing up cash flow for other priorities.
  • Debt Consolidation: For high-interest debts like credit cards, a cash-out refinance can consolidate them into your mortgage at a lower rate, simplifying your finances and saving you in high-interest payments.
  • Access to Cash: A cash-out refinance enables you to tap into your home equity, providing a lump sum for major expenses like home renovations or education.

The Drawbacks

  • Closing Costs:  Refinancing home equity loan involves upfront fees that can be significant, so factor them into your decision. Ideally, you will have the option to choose a no-cost refinance option. Contact us for details.
  • Longer Loan Term: Lower monthly payments often come with extending the loan term, which means paying more interest over time.
  • Reduced Equity: Cash-out refinancing mortgage decreases your home equity by increasing you loan balance, potentially impacting your financial security if property values decline.
  • Higher Interest Risk: If interest rates have risen since your original mortgage, refinancing home mortgage might result in a higher rate.

Tips For Refinancing Your Home

Determine Your Goals: Whether it’s to lower your monthly payments, shorten your loan term, or tap into your home’s equity, having clear goals can guide your home refinancing process.
Navigate Your Options: Research the different types of refinancing options available, such as rate-and-term refinance, cash-out refinance, or FHA or VA (IRRRL) streamline refinance.
Analyze Your Financial Situation: Review your credit score, debt-to-income ratio, and home equity. We can walk you through this.
Shop Around for Rates: Don’t settle for the first offer you receive. Shop around with different lenders to find the best rates and terms. Check our rates here for real-time rates.
Consider the Costs: Refinancing isn’t free. There are closing costs, appraisal fees, and title fees.
Lock in Your Rate: Once you’ve found a good rate, consider locking it in. This can protect you if rates rise while you’re finalizing your refinance.
Prepare for the Appraisal: If an appraisal is required, make sure your home is in good condition to get the best possible value.

Frequently Asked Questions

Can I refinance my home loan with bad credit?

Refinancing home with bad credit is possible. Your current lender might offer options, or consider FHA streamline refinance or VA loans if eligible. The best refinancing home loan depends on various factors.

What is an FHA Streamline Refinance?

The FHA streamline refinance is available to FHA borrowers, often eliminating the need for appraisals, full credit checks, and income verification. It replaces your current mortgage with a new one.

Who is eligible for a VA IRRRL Refinance?

You might qualify if you already have a VA-backed loan, are using IRRRL to refinance it, and currently live in or previously lived in the covered home.

How does a VA Streamline Refinance work?

This simplified VA loan refinance, also known as IRRRL, typically doesn’t require appraisals, complete credit checks, or income documentation, making it easier to get approved even if your finances have changed since your initial VA loan.

Who is eligible for a VA Refinance?

To qualify, you must meet all requirements, including having a VA-backed loan Certificate of Eligibility, meeting VA and lender credit and income standards.

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@2025 Locus Mortgage

Need help?

Our team is here to answer your questions.

Whether you’re not sure how to get started or want help understanding your options, we’re happy to assist.

  • Call us at 303-444-5251
  • Email info@locusmortgage.com
  • Or just click the green “Get a Quote” button to begin — we’ll follow up.

We believe in pressure-free guidance, not sales calls. Reach out anytime.

Rate Alert

Want to track rates that match your exact scenario?

Click “Personalize My Rate” to receive bi-weekly updates based on the information you’ve entered.

  • You’ll see updated rates for your specific loan size, credit score, and property type.
  • No spam — just clean rate updates every other week.
  • You can unsubscribe at any time with one click.

This is the easiest way to watch the market and lock in when the timing is right — without re-entering your info each time.

What is this page?

This is the same live rate sheet we use when you call in for a quote.

Rates are shown from lowest to highest. Here’s how to understand the options:

  • Lower rates typically come with a discount fee (or “points”).
  • Higher rates may include a lender credit to offset your closing costs.
  • We display multiple loan terms — 15yr, 20yr, and 30yr — so you can compare.

This page gives you full transparency. You can see exactly what you qualify for and how your choices affect the rate and costs.

Where do I start?

To get an accurate quote, begin at the top of the form.

Enter all the requested information as accurately as possible:

  1. Choose Purchase or Refinance.
  2. Fill in your ZIP code, purchase price or home value, down payment or mortgage balance, and credit score.
  3. Select your property type and how it will be used.

These inputs directly affect your quoted rate. The more accurate your entries, the more personalized and reliable your quote will be.

Fee Breakdown Guide

This quote includes lender fees only.

To see an estimate of all fees, including third-party costs:

  1. Click the blue Fees link.
  2. In the pop-up, click Details.
  3. Then select Closing Cost PDF.

This will show estimated title fees, appraisal, taxes, and insurance. Since those vary by property and location, we only display lender fees here — the part we can quote precisely.