Make your mortgage loan work for you.

By refinancing your mortgage, you may be able to lower your monthly payments, get a better interest rate or a reduced term for your loan, or even eliminate the cost of Private Mortgage Insurance (PMI). You can also refinance to access the equity in your home to renovate, consolidate debt or pay for college. Our experienced team can help you determine which refinancing option you may qualify for to best reach your goals.

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Benefits of refinancing your mortgage with Elevations:

  • Fast and easy online application

  • In-house team of local underwriters, processors and closers for a faster process

  • A range of loan options including loans with fixed rates and adjustable rates (ARMs), jumbo loans and more

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Which mortgage refinance option is right for you?


When you want a lower interest rate or shorter term for your mortgage.

With a rate-and-term refinance, you can replace your current mortgage with a new one that has more beneficial terms.

  • Get a lower interest rate, remove Private Mortgage Insurance (PMI), go from an adjustable rate mortgage (ARM) to a fixed rate mortgage or even get a shorter term for your loan.

  • Rate-and-term refinances generally have more favorable interest rates and allow for higher loan-to-values (LTVs) than cash out refinances.

  • A rate-and-term refinance can include the payoff of a second mortgage if the second mortgage was used to purchase the home. A rate-and-term refinance does not allow for additional cash out — the loan amount is limited to the payoff of the current mortgage (and second mortgage used to purchase the home, if applicable), plus closing costs.


When you want to use the equity in your home for expenses.

A cash out refinance also replaces your current mortgage with a new one, but it’s coupled with a higher loan amount that allows for cash to be pulled out from the equity in the home.

  • Use the additional funds for home renovations, debt consolidation, college tuition or other needs.

  • Interest rates for cash-out refinances are generally higher, and there are stricter qualifying requirements than rate-and-term refinances. Cash out refinances also have lower loan-to-values (LTVs) than rate-and-term refinances.

  • With a cash out refinance, you can keep one monthly mortgage payment instead of adding a home equity loan or HELOC payment. Interest rates may be lower with a cash out refinance, however closing costs are typically higher.

Ready to refinance?

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Meet Our Team

We're here to answer all your mortgage questions.

When you're talking mortgage loans — also known as “a big deal” — you want to talk to a real, live human being. A local one is even better. Our experienced, award-winning team of mortgage lenders is here and happy to serve you. Because when it comes to Colorado mortgages, sharing our knowledge with you is one of our favorite parts of the job.

Commonly asked questions

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Estimate your monthly mortgage payments.

Use our mortgage calculator to help get a better picture of what to expect with a new mortgage. You can estimate what your monthly payments might be and the total amount you will pay for the property.

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What are your mortgage refinance options?

If you’re curious about how and why to refinance your mortgage, this blog shares the benefits of the two refinance options, compares home equity loans to refinancing and explores how to figure out if refinancing your mortgage is in your best interest.

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