As a homeowner, you may have heard the term re-financing without being aware of exactly what it means, but there are a lot of pros and cons associated with what it can do for your financial situation. While getting a different new loan for your mortgage can be a good financial decision in certain situations, here are some things you should consider before you decide that this is the right choice for you.
Getting A Lower Rate
One of the main reasons that re-financing can be a popular option for many homeowners is that it can provide the opportunity for considerable money savings. Since you will be acquiring a new loan with a lower interest rate, this will be an opportunity to reduce your monthly payments, increase your equity at a faster rate and invest the extra funds into something else. While a lower rate can definitely mean money savings, it’s important to consult with a mortgage professional so you’re aware of any associated fees and can make a decision that will be financially beneficial.
Consolidating Your Debt
It is often the case that people will choose to refinance their mortgage with a lower-interest rate in the hopes of paying off the debt they’ve accumulated, but with the cost of refinancing this is not necessarily the best financial decision. While consolidating debt can be great if you go into it with a budget that you plan on sticking too, if you’re leaning too much on the idea of a lower interest rate meaning instant savings, it may be a good idea to take a look at the numbers.
Investing In Your Home
For many people, re-financing their mortgage is a good opportunity to renovate their home and increase its value. However, while renovating your home can be a good idea for resale, there are many home renovations that will not necessarily increase the value of your home and make up for the amount you’ve invested. If you’re making forward-thinking renovations, refinancing is one thing, but ensure you’ve seriously considered what will add value.
There can be a number of financial benefits when it comes to refinancing your mortgage, but it’s important to work out your tentative budget and crunch the numbers before you make a final decision. If you’re currently looking into re-financing your home and are curious about what it entails, give me a call for more information – J.P. Cook – 602-320-4253.
Click Here to See What Your Home is Worth
2030 E Michigan Avenue
Phoenix, AZ 85022
$495,552
3
Beds
3.5
Baths
1,734
SqFt
Status
Active
MLS #
6675573
Property Type
Single Family Residence
Price Type
--
NEW CONTEMPORARY URBAN STYLE COMMUNITY! Ask about Builder great Incentives! 3 bedrooms, all ensuite, plus powder room. 2 car garage, 2 X6 Construction, Sheared Ext Walls (All plywood wrapped) Spray Foam insulation and insulated garage door for EXTREME ENERGY EFFICIECY! This home is loaded w/ standard features, beyond everyone else! Beautiful finishes! Bedroom balcony's and first floor patio. 2 Greatroom Balcony's! Quartz countertops, stainless steel appliances, including refrigerator, Luxury Plank Vinyl throughout! Approximately 5 month move-in. 5 minutes to Loop 101 and 51 Hwy, Mayo, Kierland, Scottsdale Quarter and Desert Ridge! * Community Pool, Fitness Center coming!
39550 N Kaden Lane
San Tan Valley, AZ 85140
$495,433
2
Beds
2.5
Baths
1,811
SqFt
Status
Active
MLS #
6688925
Property Type
Single Family Residence
Price Type
--
Up to 2% of total purchase price towards closing costs incentive offer. Additional eligibility and limited time restrictions apply. MLS#6688925 April/May Completion! In the vibrant 55+ community, Ovation at Meridian, discover the Sedona—a breathtaking single-story residence boasting 2 bedrooms, a flexible room, and expansive outdoor space. The foyer unveils a versatile flex room and a second suite. Transform the flex room into a formal dining area for entertaining. Enjoy seamless hosting in the open great room and kitchen. The private owner's suite offers an ensuite bath with double sinks, a walk-in shower, and a spacious walk-in closet. Structural options include: paver front porch, 12' x 8' sliding glass door, garage service door, alternate shower at owner's bath, soft water loop, gas line for future outdoor kitchen and complete reverse osmosis system.
4462 S 127th Lane
Avondale, AZ 85323
$495,016
3
Beds
2.5
Baths
2,308
SqFt
Status
Active
MLS #
6674711
Property Type
Single Family Residence
Price Type
--
QUICK MOVE-IN HOME!! The Camelback is a stunning two-story home with 3 bedrooms, 2.5 bathrooms, and plenty of room to entertain friends or family! The beautiful kitchen features White Linen cabinets with Quartz countertops. This spacious area offers an oversized island, walk-in pantry, and a water filtration system. It also comes with stainless steel appliances to make cooking easier than ever before - all in one beautiful space. This home features 12X24 Tile in ALL the right places! The luxurious Camelback bedrooms and bathrooms are perfect for those who want to feel pampered. The Owner's Bedroom has an incredible view of the backyard and is close to the upstairs loft! The Owners Bath has an oversized walk-in shower! This home has NO neighbor behind!!
26580 E Tarantula Trail
Camp Verde, AZ 86322
$495,000
2
Beds
2
Baths
1,165
SqFt
Status
Active
MLS #
6682563
Property Type
Single Family Residence
Price Type
--
You are going to LOVE IT here. Call it home or make it the perfect Air B&B! This home has so much character, EPIC views & sits on 3 acres creating your own private, hillside getaway. The views are spectacular. A great entryway leads to a kitchen like you have never seen. High end appliances include 5 burner gas stove, built-in hutch & large Frig with bottom freezer. Add a kitchen island or table, there is plenty of room. BUILT WITH LOVE & attention to detail. Hand hewn beams, walls & ceilings are highlights but don't overshadow stone detail. This home tells a story, like the bowling alley floor made beautiful counters or the brands & carvings hidden in so many places like hidden treasures. Living room boasts a beautiful stone fireplace & wood beam ceilings & a ceiling fan with.... tooled leather accent. A fantastic use of space with 1 bed/bath on the main floor & a unique spiral staircase leading to the downstairs bed/bath (lower floor could have a separate entrance through the storage/shop area. Radiant heat & 2-40 gallon water heaters. Small things/finish work is needed but what needs to be done is handyman work. Easy access just off of the I17. There is so much to see & do: Hiking at General Crooks Trail, Cliff Castle Casino, Out of Africa, Museums & Ruins, Montezuma's Castle, Jeep Tours Verde Vally Railroad, Verde River Tours, Jeep Tours & so many Wineries! This town is rich in history & growing fast.
235 N 156 Drive
Goodyear, AZ 85338
$495,000
4
Beds
3
Baths
2,040
SqFt
Status
Active
MLS #
6602375
Property Type
Single Family Residence
Price Type
--
Investors Only. Home is leased until February of 2025. One of the standout features of this home is the beautifully landscaped backyard, providing a peaceful oasis for relaxation or outdoor gatherings. Whether you're hosting a barbecue or simply enjoying a quiet evening under the stars, this backyard is sure to become your personal sanctuary. This home also comes complete with all the appliances you need - refrigerator, washer, and dryer are included, making your move-in experience effortless and stress-free. Location-wise, this property has it all! Situated just minutes away from the I-10 highway and the Goodyear airport, it offers easy access for both work and travel. Golf enthusiasts will appreciate the proximity to several renowned golf courses, while movie buffs can enjoy the convenience of a nearby theater. For all your shopping needs, a variety of retail centers are just a short drive away. Additionally, this neighborhood is in close proximity to the City of Hope cancer center, providing peace of mind and support for those in need. Nature enthusiasts will love the abundance of hiking trails and outdoor activities available in the surrounding area. Don't miss out on the opportunity to make this extraordinary house your new home. It offers a delightful blend of modern amenities, a convenient location, and a welcoming community. Contact your favorite agent today for a private tour and experience the magic of this property for yourself!
42710 W Us 60 Highway
Morristown, AZ 85342
$495,000
1
Bed
1
Bath
458
SqFt
Status
Active
MLS #
6656941
Property Type
Manufactured Home
Price Type
--
Amazing views for miles and miles! Come and live your dreams at this wonderful New Horse Ranch, one bedroom, one bath tiny house on 3.5 acres. 5 covered horse pens, and five pastures. RV hook up and plenty of room for your dreams. Stackable laundry inside.
42276 W Chisholm Drive
Maricopa, AZ 85138
$495,000
3
Beds
2
Baths
2,311
SqFt
Status
Active
MLS #
6609956
Property Type
Single Family Residence
Price Type
--
This golf course home with a private pool could be yours! This 3-bed, 2-bath residence offers modern comfort. A 2-car garage and low-maintenance desert landscape frame the front porch. Inside, a welcoming living room leads to a great room with vaulted ceilings, plantation shutters, wood-look and tile flooring, and backyard access. The kitchen features granite counters, stylish cabinets, a mosaic tile backsplash, stainless steel appliances, a walk-in pantry, and a breakfast bar island. A versatile den adds flexibility. The main bedroom includes plush carpeting, a walk-in closet, and an ensuite with dual sinks. Outdoors, enjoy a covered patio, a pool, and a stunning golf course view. Don't miss out—make it yours today!
807 E Glendale Avenue
Phoenix, AZ 85020
$495,000
3
Beds
1
Bath
1,500
SqFt
Status
Active
MLS #
6653803
Property Type
Single Family Residence
Price Type
--
This is the one you've been searching for! Discover a charming 3-bed, 1-bath residence featuring an expansive paver driveway and a welcoming front porch. The inviting living room showcases a soothing palette and stylish wood-look flooring. Gather loved ones in the family, boasting recessed lighting and French doors leading to the backyard. The kitchen is equipped with white shaker cabinets, a handy pantry, built-in appliances, and a serving window with a breakfast bar. Relax in the backyard, offering a covered patio, a useful storage shed, convenient alley access, and ample space to craft your own private oasis. Ideal location a few minutes away from bus stops, restaurants, and shopping options. Don't miss out on this fantastic opportunity!
8745 E Fairbrook Street
Mesa, AZ 85207
$495,000
3
Beds
2.5
Baths
1,808
SqFt
Status
Active
MLS #
6653424
Property Type
Single Family Residence
Price Type
--
This beautiful two-story home features vaulted ceilings and large windows, offering stunning mountain views. It includes efficient ceiling fans and 2-inch blinds throughout. The entry opens to a vaulted formal living area, leading to upstairs bedrooms. The master bedroom boasts a spacious en suite with dual sinks and a large walk-in closet. The open-plan ground floor connects the family room, dining area, and kitchen, leading to a covered patio. The kitchen is equipped with modern stainless steel appliances, including a gas stove and dishwasher. Living areas are tiled, while stairs and bedrooms are carpeted for comfort. Outside, a landscaped backyard with grass, hibiscus, and a sprinkler system complements the easy-care front rock garden. Located near a private park, close to the 202 fw
2254 W Charter Oak Road
Phoenix, AZ 85029
$495,000
4
Beds
2
Baths
1,606
SqFt
Status
Active
MLS #
6663983
Property Type
Single Family Residence
Price Type
--
No HOA! Corner lot house full of upgrades with a beautiful backyard ready for its new owner. This home has a beautiful modern kitchen with quartz countertops and open floor plan that provides the perfect entertainment space. Low maintenance laminate flooring all around the house, artificial turf and pool deck installed to provide cool entertainment space in the backyard. This has been used as a successful short term rental with multiple 5 star reviews and everything will convey with the property
16454 W Sandia Park Drive
Surprise, AZ 85374
$495,000
2
Beds
2
Baths
1,870
SqFt
Status
Active
MLS #
6675317
Property Type
Single Family Residence
Price Type
--
This PALO VERDE split floorplan with 2 bedrooms and a den, has been extended to include bay windows in the breakfast nook and primary bedroom. Before you enter this well-maintained home, you will be greeted with a beautifully designed courtyard with a seating area and lighting for enjoying the beautiful Arizona evenings. Inside, you will see an open living room and kitchen with stainless steel appliances and granite countertops. Your eyes will be drawn to the beautiful crown molding in the main areas. Ceiling fans in every room and 3 solar tubes have been added to allow more natural light in. Custom plantation shutters throughout, tile floors in all common areas with upgraded carpeting in the bedrooms. The expanded back patio is perfect for morning coffee or entertaining, featuring a built-in gas grill, shaded by an extended roof. There are several seating areas with a large motorized awning and ceiling fans to keep you cooler on those warm sunny days. On cooler evenings you can enjoy the hot tub and beautiful sunsets. There is a whole-home water filtration system and water softener. The gas hot water heater and HVAC were replaced in 2022. The garage has loads of built-in cabinets, providing ample space for storage, and a drive-up golf cart storage area. The Grand provides residents an active close-knit community with resort-style amenities that include four 18-hole golf courses, 3 restaurants, state of the art fitness center, day spa, 4 outdoor pools, indoor pool, card rooms, multi-purpose trails, tennis, pickleball & bocce courts, softball field, fishing lake, many social clubs & activities.
15586 W Whitton Avenue
Goodyear, AZ 85395
$495,000
2
Beds
2
Baths
2,154
SqFt
Status
Active
MLS #
6673835
Property Type
Single Family Residence
Price Type
--
Now here's a rare deal. For only $495K you get over 2100sq ft and on the golf course. However, the home needs updating, but at this price who cares. Located on the 5th hole of Eagles Nest, this home features 2 beds, 2 baths, office, formal living and dining, plus family room, kitchen and breakfast area. This plan allows you to take down the non load bearing walls in the living area to create your own open concept arrangement. The exterior has excellent curb appeal. Don't miss out.
