Many Colorado homeowners have refinanced their property as interest rates went ever lower. Now a new annual report from SmartAsset, a financial technology company, is showing where you’re likely to realize the greatest savings, based on where your home is located.
The study applied the average national pre and post-refinance interest rates to the total balance of refinanced mortgages in each county to see where the most money was being saved.
For a full look at the top counties in Colorado check out the table below, and see Smart Asset’s Refinance Calculator here.
|Rank||County||Loans Refinanced||Average Refinance Amount||Annual Savings Per Loan||Annual County Savings||Total Savings Index|
|5||El Paso, CO||7,458||$200,713||$2,706||$20,179,536||4.63|
You can find more details on the Smart Asset study, including the full methodology and interactive map here: https://smartasset.com/refinance/refinance-calculator?year=2016#Colorado