Refinancing Your Home Loan is a Matter of Timing in Denver Homeowners often find that their home loan needs often change over the years. Some available home loan programs and fluctuations in interest rates often leave homeowners wondering when they should refinance their mortgages. Building a case for refinancing depends on your current home loan and what you want to achieve by refinancing. By evaluating the following 3 types of mortgages, you can determine the right time to refinance your home loan: ● Cash-out refinancing – this type of refinancing involves tapping into your home equity to pay off certain debts such as car loans, credit card debt, or student loans. ● Adjustable-rate mortgage (ARM) – you should consider refinancing to a fixed-rate once the interest rate has climbed at least 2 points higher than the original rate. ● Fixed-rate mortgage – if you’re unsure about whether or not you should refinance to a fixed-rate loan, ask yourself the following 3 questions: o Are you planning on staying in your current home for a while? o Is your current fixed rate at least 2 points higher than the current interest rate? o Is your 30-year mortgage less than 10 years old? If you answered yes to these questions, it may be time for you to consider refinancing your current mortgage loan. Front Range Mortgage 600 17th St #2800 Denver, CO 80202 https://www.google.com/maps?cid=15087205724627939062