Rate-and-Term Refinance in Greenwood Village, CO
Lower your rate, change your term or move from an adjustable rate to a fixed rate, without taking cash out. Randy is a CPA as well as a mortgage lender, so you see your break-even point before you decide.
Randy Spierings, CPA, MBA Loan Officer · NMLS #217152 · Primary Residential Mortgage, Inc. NMLS #3094
⭐️⭐️⭐️⭐️⭐️ 5.00 (33 Google reviews)
A rate-and-term refinance replaces your current mortgage with a new loan to change the interest rate, the loan term or both, without taking cash out. It is the most common way Colorado homeowners lower a payment, pay a home off sooner or move from an adjustable rate to a fixed rate. If you want a local lender near you to check whether refinancing makes sense, Randy can run the comparison for your current loan.
The right choice depends on how long you plan to stay and what the refinance costs. Randy shows you the break-even point before you decide.
Common reasons to refinance
- Lower the interest rate when market rates are below your current rate.
- Shorten the term, for example from 30 to 15 years, to pay less interest overall.
- Lengthen the term to lower the monthly payment.
- Move from an adjustable-rate mortgage to a fixed rate.
- Remove mortgage insurance, if your equity and loan program allow it.
How Randy looks at the numbers
- Your new payment compared with your current payment.
- Total closing costs and how many months it takes to recover them (the break-even point).
- Total interest over the life of the loan for each option.
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 refinance options
Need cash from your equity? See cash-out refinance. Have an FHA or VA loan? Ask Randy about streamline options.
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. When does a refinance make sense?
Usually when the savings recover the closing costs well before you expect to sell or refinance again. Randy will calculate your break-even point.
2. Can I refinance with less than 20% equity?
Often yes, depending on the loan program, your credit and the home’s value. Randy will check which options fit.
3. Will refinancing reset my loan term?
Usually, unless you choose a shorter term. Randy can show you options that keep you on track to pay off the home when you planned to.
4. What documents do I need?
Typically recent pay stubs or income documents, tax returns, bank statements and your current mortgage statement. Randy will send a full list.
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
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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.