The recent purchase we made was a great experience thanks to Colorado Casa PMI. They are very professional and each person is a wealth of information. I would use them again in a heartbeat!
We couldn't be happier with everyone at Colorado Casa and we just signed another year lease. Over the past few years, they were very quick to handle any problems we had. It's also great that I can pay my rent online; it's very convenient. Overall, this company has been great to rent from.
I do not live in the same city as my rental, and so I knew I needed someone to handle it for me. Ever since I hired CCR my life has been so much easier. They handle the accounting, maintenance, you name it!
The people that work here are so nice. They really do make renting a good experience, one of the best Io have ever had.
Overall I was very happy to be working with the professionals at Colorado Casa. They really know the area, and are helpful when it comes to information such as school districts, etc.

Blog

Reasons to Refinance

Jorgette Krsulic - Monday, May 08, 2017

Regardless of the reason to refinance a home, the basic question to ask is: “Do you plan to live in the home long enough to recapture the cost of refinancing?” There are always expenses involved in refinancing which can be paid in cash or rolled into the new mortgage.

From a strictly financial standpoint, the break-even point is achieved when the cost of refinancing has been recaptured by the monthly savings. It would take approximately 23 months to recapture $4,000 of refinance costs with a lower payment of $175 a month.22683914-250.jpg

  1. Lower the rate
  2. Shorten the term so that the loan will build equity faster and be paid off sooner.
  3. Lower your payment to reduce your monthly cost of housing.
  4. Convert an ARM to a FRM to stabilize your payment due to concern of rising interest rates.
  5. Cash out equity to be able to use the money for another purpose.
  6. Combine a first and second mortgage.
  7. Consolidate personal debt so the interest is tax deductible.
  8. Payoff higher cost debt such as credit cards, student debt, etc.
  9. Remove a person from a loan as in the case of a divorce.

Points paid to purchase a principal residence are tax deductible completely in the year paid. However, the points must be spread over the life of the mortgage on a refinance. For that reason, consider getting a “par” value loan with no points. It may have a slightly higher rate but the interest will be fully deductible and it will lower the cost of refinancing.

Determine the break-even point on your situation by using the Refinance Analysis . Call for a recommendation of a trusted mortgage professional.


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