Whiteboard with "Closing Costs" written on it, illustrating refinance expenses for homeowners in Colorado

If you’re thinking about refinancing your home, one of the first things that probably comes to mind is: How much is this actually going to cost?

In Colorado, closing costs vary on refinances depending on many factors such as the type of loan and how the refinance is structured. Here’s a breakdown of what’s typically included.

Common refinance costs in Colorado

Refinancing involves a new mortgage, which means new closing costs. Some of the most common expenses include:

  • Title insurance and escrow fees
  • Loan origination or lender fees
  • Appraisal (if required — some loans may waive it)
  • Credit report and underwriting
  • Recording, notary, and document fees
  • Prepaid property taxes and homeowners insurance

Even if you’re not increasing your loan balance, the refinance is treated as a brand-new loan from the lender’s perspective.

You can learn more about typical refinance closing costs on the Consumer Financial Protection Bureau’s site.

Do I have to pay these costs out of pocket?

Not necessarily. Many homeowners in Colorado choose to roll their closing costs into the new loan amount — especially when doing a rate-and-term refinance or cash-out refinance.

This lets you refinance without bringing cash to the closing table, though it will slightly increase your loan balance.

Want to know what your numbers would look like? Use our mortgage calculator to get an estimate, or reach out and I can run it for you.

Every refinance is different

Some homeowners refinance to lower their monthly payment, while others use it to consolidate debt or fund home improvements. And depending on your existing loan type, you may be able to refinance with minimal documentation or a simplified process — like an FHA streamline or VA IRRRL.

If you’re in Centennial, Parker, Denver, Castle Rock, or anywhere in Colorado and are wondering if a refinance is worth it, I’m happy to take a look.

Call or text me at 303-670-0137, email rbaxter@choicemortgage.com, or reach out here. I’ll help you figure out the best options based on your goals.

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