Weekly Rate Survey

Refinance Rates Available in Colorado

This week’s national average for a 30-year fixed rate is 6.095% APR. (9-23-2024)  

Week of 9-23-2024. Below is our weekly survey of some of Colorado’s Top Lenders. Rates and fees below are for a 30 year Fixed Rate Loan used to refinance a primary residence, with 70% loan to value, no-cash out, $500K loan amount, 740 credit score, with 45% or less debt-to-income.

Refinance Rates – PAYING Points.  (Higher Costs, Lowest Rates, and Extended Time To Recoup High Costs)
Company
Interest Rate
APR
Mo. Payment
Discount Points
LTL Mortgage
5.250%
5.412% APR
$2,761
1.716 points/fees
Chase Bank
5.625%
5.708% APR
$2,878
1.000 points/fees
Wells Fargo
6.000%
6.188% APR
$2,998
1.000 points/fees
US Bank
6.125%
6.269% APR
$3,038
1.000 points/fees
Refinance Rates – NO Points   (Lowest Costs, Slightly Higher rates, with Least Time To Recoup Costs)
Company
Interest Rate
APR
Mo. Payment
Discount Points
LTL Mortgage
5.625%
5.630% APR
$2,878
no points/fees of $200
New American Funding
5.999%
6.020% APR
$2,997
no points/fees of $1629
First Bank
6.000%
6.037% APR
$2,998
no points/fees of $1295
Rocket Mortgage
6.990%
7.015% APR
$3,323
no points/fees of $1250

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At the start of every week, we visit each companies website, or places they advertise rates or where their information is aggregated (aggregating sources such as NerdWallet, LendingTree and BankRate are sometimes used).  Our experienced staff works hard to find the small print and hidden details, often difficult to locate about points and upfront fees. Please feel free to check their sites yourself.  We make no guarantee about their information’s accuracy. This is solely for educational purposes.

The rates shown are subject to change, they are retrieved by our staff at the beginning of each week on the same day, at the same time. Your exact rate and terms will be determined by each company based on an assessment of your overall qualifications and creditworthiness. The terms and rates listed are not binding offers from any of the lenders.

  • A large number of Colorado Mortgage Lenders do not publish their rates and fees. When called directly for quotes, many  replied; “we will not provide a quote without an application or significant amount of personal and credit information.” These are old-school sales tactics, stereotypical of the used-car sales industry.  Many commented, “Your loan is not about the rate.”  At best, we find those practices outdated, odd and they do not instill confidence or trust. We will not name them here, however their companies do not appear in our survey.

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Wholesale Rates, Available Through Mortgage Brokers Are Generally Lower Rates.

Banks & Big Mortgage Co’s are Retail Lenders. Big Companies, High Overhead, Looking Out for Themselves.

Wholesale Rates are LOWER! Brokers Shop Sources for You.

Incredibly Low Rates

How do Brokers do it? As Independent Wholesale Brokers they can shop all of their sources to assure you get the most competitive Rates!

No Junk Fees

Others load you up with junk fees like processing, doc prep, admin, and more. No “fake” closing costs in our loans.

Don’t Get Tricked

Big Banks and Large Lenders love upfront fee’s.  Don’t be fooled by low rates that come loaded with points and extra closing costs. It can can take a decade or longer to recover those costs. Beware!

Work With The Pro’s

We work for you, not the banks. We Specialize in Refinances. We’ve been lending in Colorado for 25 years.  Don’t risk your money on advice from inexperienced salespeople from a call-center.

No-Cost Refi, Perfect for 2024.

Believe it or not, a refi with a little less monthly savings, but doesn’t have any closing costs may be the best decision in 2024. Read this – or watch video.

  • Example: saving $265/mo. with a typical refi paying closing costs (approx $3,450) vs the No-Closing Cost Option saving $230/mo (35/mo less)… is an option one of our clients had recently.
  • Saving an extra $35 sounds nice, but it takes $3,450 in closing costs to get that lower payment: divide the cost by the savings: $3,450/$35 = 98 months
  • WOW – almost 8 years to make up the money…
  • Taking the free loan, that doesn’t have any closing costs  and saves 230/mo. sounds pretty good, especially when experts say “there is a better-than-not chance rates will go even lower in the next 12-24 months.”  This means another refi with even more savings and lower rates might be coming reasonably soon. No need to pay for closing costs this go-round. Check out the video to see this idea fully explained. PS: if you’ve never heard of this, don’t feel bad, banks and big mortgage companies don’t often tell customers about this – they like collecting as many upfront charges as they can.   

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Treating each and every loan as if it were our own – that’s how we care for our clients. It’s our pleasure to put 25 years of Colorado lending experience to work for you.  We take pride in delivering a concierge level customer experience while delivering the lowest possible rates and closing costs. A smooth and hassle free process is what we’ve perfected over nearly three decades serving Colorado Home Owners!  We’d be honored to have you as our next client. 

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