How To Find The Right HELOC in Colorado

Continuing our series on how to find the right home equity line of credit in the second position. We are in the state of Colorado and Colorado came to play. There was no shortage of banks that offer HELOCs in this state. If you're a resident in Colorado, pay close attention. We're going to take our direction to the whiteboard here. On the left hand side is my framework. As you can see, we have now covered in this series almost 30 states if not more at this point. And the left hand side of the board has not changed. I promise you it won't change for years and years and years and years to come. Unless the global financial system of credit and banking to decides to change or shift down the road, then yes, maybe these parameters in terms of numbers might change, but the fundamentals will absolutely stay the same. Understanding your credit score, knowing your dti, understanding what LTV is, knowing what closing costs, what are what are the fees I'm getting myself involved in? Is there an intra rate? Is there not? How is my rate calculated? Prime plus, prime minus or prime? What's the draw period? How long will I have access to this line of credit? Do I have a relationship with the bank? Do they have a mobile app? Increases velocity. And what's my payment option? Is it revolving interest only or is it principal and interest only payments? By you Understanding this in advance, I promise you you're setting yourself up for success. As of today, recording this video In February of 2026, the prime rate is 6.75%. I found you a couple of banks, good amount of banks, some I didn't even throw on the board. Honestly, I might have gotten a little lazy there, but there's literally no shortage of banks in the state of Colorado. So let's just start with the ones that I found and I'll show you my research in a minute as well. I found Credit Union of Denver is doing a 4.95% intro rate for the first 12 months. As long as you keep it at 80% LTV or under. After the promo period is done, you'll be at a Depending on your what credit score or credit worthiness is usually the language they use, you can be as low as prime minus 0.5% so you would be at 6.25% 12 months from today. Let's say so February 2027, if rates didn't go up or down, you'd be at 6.25. There's no closing or annual fees and there's a 10 year draw. Mobile banking, friendly, solid bank. Next up is Colorado Credit Union. They're just at a prime rate, 10 year draw, no annual fee, don't know what the closing costs are. Then I found Pike's Peak credit union again prime 80% LTV. That's all the information I was able to get off the website. Red Rock's Credit Union is doing a prime minus 0.5% but that was all the information I could get off that site. Then you have Credit Union of Colorado is doing prime minus 0.25% as long as you keep it under 80% LTV. And then we have Partner Colorado Credit Union competing with Credit Union of Denver here they have a 12 month intro rate at 5.99% then it goes to just prime. So whatever prime is 6.75% has a five year draw but does go a little bit higher on the LTV. 85% mobile banking friendly of these banks here in my opinion. If I was living in the state of Colorado and I was looking for a second lien HELOC in terms of my top picks after researching spending some time and by the way, there's probably other banks out there. For those of you who live in Colorado, trust this information but verify it. Also do a research, see if you can beat what I found. If you can't, then settle with one of these banks. And I'm telling you you can't go wrong. So Credit Union of Denver has really all of the features I appreciate and the information is disclosed. Sometimes when I'm researching banks, the websites they don't reveal all the information. So it could very well be that Red Rocks also may not have any closing costs or annual fees. I don't know that. But with the information I'm being given here, I like Credit Union of Denver. That's probably like my first pick. They offer the lowest intro rate prime minus 0.5%, no closing, no annual fees. 10 year draw. Perfect. I like that. Next up would probably be the partner. So I like them. And I also like Red Rocks because they offer the prime minus 0.5%. So it's. So it's equal to Credit Union of Denver better than Partner Colorado in terms of their rate after the intro is just prime and it's only a five year draw. So keep that in mind. But a little bit higher on the LTV. We don't know that for this bank but prime minus 0.5% very attractive. So I'm gonna throw them over here as well. Red Rock and partner for now these are my favorite. Understand that if you're watching this Video Years from now or even months from now, banks will constantly change up their offers, launch new, new product specials, things like that. So keep that in mind. Don't take this as as biblical information here. This side is more concrete you can rely on. The better you set yourself up here, the more options you'll have over here to choose from. Keep that in mind. With that being said, let me share with you my research show you a bunch of other banks that didn't make it to the whiteboard but are credible. Worth noting because again, things can change. So red rocks boom. As low as 6.25%. That was about all I could pull off their site. This is Sunwest Credit Union. They have their home equity line of credit, variable prime, 80%. That's about it. You know, noteworthy Credit Union of Denver, right. They got their promo, their special offer that they're showing and they clearly are sharing all their information which I do like. Pretty upfront transparent. This was Colorado Credit Union which did make it to the board. No annual fees and we have the 6.75. So right at prime they have an interest only and a platinum. The only difference is platinum is principal and interest. And interest only obviously is interest only. Okay, but that was about it on their site in terms of what they were revealing. We got the pikes. They made it to the board. LCCU has a HELOC fixed rate starting at 7.5%. We don't really want to go with a fixed rate in today's environment. Unless what your fixed rate is at least a percentage, 1 percentage point or more below prime. Then a fixed rate is attractive or right close to prime depending on the timeline. But you know, they got a home equity line of credit here. Alliant Credit Union has been mentioned in our series, so they're competing. They got a HELOC as well. They offers in Colorado. MCL got this 90% up to 255 year draw. Did not find the interest rate on here. Gail was another bank. I found no annual fees. And they do the home. It says home equity loan but then they say home equity line of credit. So they do have a heloc. They're just. Their wording can be a little confusing. Credit Union of Colorado that made it to the board. Prime minus flat right there, 80%. Pretty straightforward. We like that partner. Colorado made it to the board. They got their fixed rate special here. And then my guess is if you didn't get the fixed intro rate and you could maybe get a longer draw period, you'll be right at prime. Northern Colorado, no annual fees, no. No draw fees, but not too much information. This is Belko Credit Union. They've got an attractive, you know, prime minus almost 0.5% here. That's definitely whiteboard worthy. But honestly I got a little lazy. Community Banks of Colorado, not too much information. And then ENT Credit Union at the variable six and a half. So prime minus 0.25. So another bank that is below prime. Ten year draw. Okay, so not bad Colorado. There you go. That's my research. Please do your homework as well. Take this look at the whole series. I'm constantly dropping information on p locks and HELOCs and just, just setting yourself up. It's all about the pregame work when it comes to this strategy of leveraging debt to either accelerate other debts. So you're basically restructuring or consolidating debt from one place, these higher rates into your HELOC at a lower rate and you're, you're able to create even more velocity because you're able to park all of your income into that home equity line of credit. And there we have the strategy. And then you pair that with a credit card or credit cards. You pair that with changing how you pay for things on a monthly basis to semi or annual and save money on the bills themselves. A lot of cool things. Removing escrow from your mortgage. So instead of having a higher monthly mortgage payment, imagine removing escrow and having those dollars. Instead of sitting in an escrow account earning no interest, you can have that money sit in your home equity line of credit and it's actually paying down your, your HELOC from the debt you restructured. Then when it's time to pay your property taxes and insurance, you're paying it in full, which saves you money rather than the person that's paying it on a monthly basis through escrow and then ended up ends up being short all the time anyways. So there is so many things that you can stack on this strategy to accelerate your debt. Increase your cash flow in such a short period of time. Having the right tool is the main ingredient for this to all work out. I see so many people acquire home equity loans thinking it was a HELOC, or getting home equity lines of credits at 9 and 10 and double digit interest rates when they could have waited maybe 60 days to remove that delinquency report off their credit or to remove those late inquiries that they have those late payments. It was if they would have just took 60, 90 days to clean up their credit, to reduce their DTI, to sort of manipulate the report to your advantage or and set up a relationship with the right bank, they'd be saving themselves thousands of dollars. So the way I see it is you can save yourself a ton of time by hiring an expert, a coach, someone who understands this strategy. There's only so many of us online. You got Christy Van, you got the Kwok brothers, you got myself, you have a few others as well. We've got Benjamin Morales, we got Chris Statin, that's also building their channels. They're brand new in the space, but they're building. And there's others as well that have been creating content around this strategy. And I think if you were to pay myself or any one of these financial experts, coaches in this realm, a few hundred bucks for an hour consultation or jump in a program, jump in a course. Think of it this way. You spend a couple hundred bucks up front to save yourself thousands and thousands of dollars of mistakes and then earn yourself thousands of dollars by setting yourself up properly. Because you invested in yourself, you invested in a coach and accountability, and you're able to have the success that you have been dreaming and praying for for God knows how long. And the one thing that's been missing in your life is accountability. So with that being said, my name is Denzel Rodriguez, your personal finance geek of the 21st century. Happy to be your accountability partner. If you click the link below regarding my financial freedom program, I'll have that in the description and also in the comments section. Or you can just book a call with me, get to know me, book a consultation, see if we're on the same frequency and you can decide from there. With that being said, have a wonderful day, God bless and talk soon.