Cash-Out Refinance in Greenwood Village, CO
Turn your home equity into cash for renovations, debt payoff, education costs or a reserve, and see the full cost first. Randy is a CPA as well as a mortgage lender, so she walks through the numbers, not just the rate.
Randy Spierings, CPA, MBA Loan Officer · NMLS #217152 · Primary Residential Mortgage, Inc. NMLS #3094
⭐️⭐️⭐️⭐️⭐️ 5.00 (33 Google reviews)
A cash-out refinance replaces your current mortgage with a new, larger loan and pays you the difference in cash. Colorado homeowners use it to renovate, pay off higher-interest debt, cover education costs or build a reserve. If you are looking for cash-out refinance help near you in the Denver metro area, Randy can review your numbers in person or by phone.
Because the new loan changes your rate, term and balance, it is worth looking at the full cost before you decide. That is where Randy’s CPA background helps.
How a cash-out refinance works
- Your home is appraised to set its current value.
- The lender sets how much of that value you can borrow against.
- The new loan pays off your existing mortgage, and you receive the remaining amount in cash at closing.
- You make one monthly payment on the new loan.
When it can make sense
- You have built up meaningful equity and want to use it for a clear purpose.
- You want to replace higher-interest debt with one mortgage payment.
- You plan to stay in the home long enough for the closing costs to make sense.
What to weigh
first
- Closing costs and the new interest rate compared with your current loan.
- Restarting the loan term and the total interest over time.
- Your home is the collateral, so the debt is now secured by the house.
What Clients Says about Us
The CPA advantage
Randy is a CPA as well as a mortgage lender, with 30+ years as a CPA and 22+ years in residential mortgages with Primary Residential Mortgage, Inc. He looks at cash flow, tax timing and total cost of ownership, not just the rate, so you can see how the loan fits your full financial picture. He does not give tax advice for your specific return; talk to your own tax professional before you decide.
Randy is a loan officer with Primary Residential Mortgage, Inc. (PRMI), a direct lender that funds, underwrites and originates loans in-house. That means decisions get made under one roof instead of being passed between brokers and wholesalers.
Clients know Randy for his “Home Ownership 101” approach: he walks through the actual math, such as break-even points on a refinance, rent-versus-buy modeling and the long-term cost of a 30-year fixed versus a 15-year or an ARM.
Other ways to use your equity
Compare with a rate-and-term refinance, a debt consolidation refinance or home renovation financing. Homeowners 62+ can also ask about a reverse mortgage.
A Client's Experience
★★★★★
"Working with Mr. Spierings has been a fantastic experience. He is knowledgeable, responsive, encouraging and supportive. He is engaged throughout the whole process and brings a sense of ease. He is very professional and I highly recommend working with Mr. Spierings for anyone looking mortgage loans."
— Chasity McKinnon
★★★★★
"Randy is a true professional. The trust is here. Always a pleasure to work with. Honest, Reliable, Super Knowledgeable. Randy is always willing to go Above and Beyond to help our clients! The best of the best."
— Bill Maher
★★★★★
"Randy Spiering and Primary Residential Mortgage help Ruth and I refinance during Covid. He negotiated a 2.75% interest rate for us. This allowed us to enhance our use of funds. Thank you, Randy, and Crew. Incredible foresight."
— Joe Douglas
Frequently asked questions
1. How much cash can I take out?
It depends on your home’s appraised value, your current balance, your credit and the loan program. Randy will run the numbers for your home.
2. Will my rate change?
Yes. A cash-out refinance is a new loan with its own rate and terms, based on the market and your profile at the time you apply.
3. How long does it take?
Timing depends on the appraisal and documents. Randy will give you a timeline when you apply.
4. Is cash-out money taxable?
Loan proceeds are generally not income, but how you use them can matter for taxes. Ask your own tax professional about your situation.
Have any questions? Don’t hesitate to reach us.
Committed to empowering you with the information needed to make confident, informed decisions about your mortgage. Feel free to reach out to us for personalized guidance and support tailored to your needs.
Talk it through with Randy
Ready to Get Started?
We’re dedicated to equipping you with all the information you need to make well-informed decisions about your mortgage. Don’t hesitate to contact us for personalized assistance tailored to your unique needs.
Randy Spierings NMLS #217152 | Primary Residential Mortgage, Inc. NMLS #3094. Equal Housing Lender. PRMI is licensed in Colorado through the Colorado Division of Real Estate. This is not a loan commitment or an offer to lend. Not all applicants will qualify. All loans are subject to credit approval and underwriting guidelines. Rates and terms are subject to change without notice.