Mortgage Refinance, Reboot your Finances
Maybe you locked in years ago at a higher rate. Maybe you went with the other big bank for your loan. No matter how you got here, we’re happy you're here now. Welcome to refinancing the Westerra way—where debt consolidation loans, mortgage refinance options, and low refinance rates meet friendly service and paperwork that’s as pain-free as humanly possible.
Why refinance?
Living here in this great state is expensive enough – refinancing can get you into a lower interest rate, which keeps more money in your pocket every month. Or, refinancing can shorten your loan term, ultimately saving you thousands in the long run. Our team of Westerra pros are here to help get you qualified into a low-cost loan, and number-crunch to get you into the best mortgage product possible.
To refi or not to refi…
Refinancing is a big decision, but it could save you a huge chunk of change. If you bought your home when rates were high, need to get out of paying private mortgage insurance (PMI), have been looking into a debt consolidation loan, or you want to switch out of an adjustable-rate mortgage before the price changes, refinancing might be the move.
Humble Brag Time: Mortgage Refinance and Debt Consolidation Loans Can Help You Save Big!
We’re the experts in helping Coloradans save more on their mortgages. With the savings you unlock, you can keep enjoying what makes Colorado home – whether it’s ski passes, epic concerts, or cheering on your favorite local teams. Let’s explore your refinance options today!
Frequently Asked Refinance Questions
Mortgage refinancing refers to the process of replacing your current mortgage with a new loan, typically to obtain a lower interest rate, modify the loan duration, or tap into your home’s equity. This can lead to decreased monthly payments or enhance your financial situation overall.
Selecting Westerra for your mortgage refinancing means accessing competitive rates along with personalized service. Our committed team collaborates with you to grasp your financial objectives and offer customized solutions, ensuring a seamless refinancing journey.
At Westerra, we provide a range of refinancing options, such as fixed-rate and adjustable-rate mortgages. Fixed-rate refinancing allows for stable monthly payments, while adjustable-rate mortgages may present lower initial rates. Additionally, cash-out refinancing enables you to utilize your home’s equity for purposes like home renovations or debt consolidation.
To evaluate if refinancing is advantageous, consider your current mortgage terms, including interest rate and loan balance. If market rates have declined or your credit score has improved, it may be a favorable time to refinance. Our team at Westerra is here to assist you in assessing your situation and navigating the decision-making process.
When refinancing, you will typically need to provide documents such as pay stubs, tax returns, bank statements, and information about your existing mortgage. Collecting these documents ahead of time can speed up the refinancing process and help avoid delays.
Closing costs are fees related to refinancing, like appraisal, title insurance, and credit report expenses. While these costs can vary, they can sometimes be incorporated into the new loan. At Westerra, we maintain transparency regarding closing costs, allowing you to anticipate and plan effectively.
Staying up to date on refinance rates is key to making informed decisions. At Westerra, we post our base mortgage refinance rates daily, so you always have the latest information at your fingertips. Since rates can vary based on factors like your home equity, the type of refinance that best suits you, your property, and your credit score, our mortgage specialists are here to provide personalized guidance and up-to-the-minute rate details tailored to your needs. Let us help you find the best solution for your financial goals.
Loan approval is subject to credit approval and program guidelines. Credit Union membership required. Interest rate and program terms are subject to change without notice.
*Annual Percentage Rate (APR) is the cost of the loan in percentage terms, taking into account various loan charges such as Prepaid Finance Charges (discount points, processing and underwriting fees, flood certificate, tax service, closing and wire fees, prepaid interest) and Private Mortgage Insurance (if applicable). Refi scenarios based on rate and term transaction, 760+ FICO, $400K or $900K (Jumbo) loan amounts at 60% LTV. Purchase scenarios based on 760+ FICO, $500K or $900K (Jumbo) loan amounts at 60% LTV. Variables such as LTV, CLTV, credit score, cash out, occupancy and property type, etc., could affect rate and APR. Rates are based on individual credit history and are subject to change without notice. Rates are for conventional-conforming loans only. Other rates and terms may apply for Jumbo and nonconforming/specialty portfolio programs. Please contact a Westerra Credit Union Mortgage Loan Officer at 303-321-4209 for more details. Westerra Credit Union NMLS 421606.
