Refinancing your mortgage can help you achieve various financial goals, from lowering your monthly payments to accessing your home's equity for major expenses. At Bluebird Mortgage, we offer a range of refinancing options to meet your specific needs in Colorado Springs and throughout Colorado.
Reasons to Refinance
- ✓Lower your interest rate
- ✓Reduce monthly payments
- ✓Switch from adjustable to fixed rate
- ✓Shorten your loan term
- ✓Access home equity
- ✓Consolidate debt
Refinance Options
- •Rate and term refinance
- •Cash-out refinance
- •VA IRRRL (Interest Rate Reduction)
- •FHA streamline refinance
- •Conventional refinance
- •Jumbo loan refinance
Types of Refinancing
Rate and Term Refinance
A rate and term refinance allows you to change your interest rate, loan term, or both. This type of refinance is ideal if you want to lower your monthly payments or pay off your loan faster.
Cash-Out Refinance
With a cash-out refinance, you can borrow more than you currently owe on your home and receive the difference in cash. This option is great for home improvements, debt consolidation, or other major expenses.
VA IRRRL
The VA Interest Rate Reduction Refinance Loan (IRRRL) is a streamlined option for veterans with existing VA loans. It offers a faster, simpler way to lower your rate with minimal paperwork.
FHA Streamline
FHA Streamline refinancing is a simplified process for homeowners with existing FHA loans. It requires less documentation and may not require a new appraisal.
The Refinance Process
1. Initial Consultation
We'll discuss your goals and review your current mortgage to determine if refinancing makes sense for your situation.
2. Application and Documentation
Submit your application and provide necessary documentation such as income verification, tax returns, and bank statements.
3. Property Appraisal
In most cases, we'll need a new appraisal to determine your home's current value (may be waived for certain streamline refinances).
4. Underwriting
Our underwriting team will review your application and documentation to ensure everything meets the requirements.
5. Closing
Once approved, you'll review and sign the final documents to complete your refinance.
Ready to Explore Your Refinance Options?
Contact us today to discuss your refinancing goals and learn about your options. Our experienced team will help you find the best refinancing solution for your needs.