The Major Keys to Understanding When It’s Time to Refinance Your Mortgage

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.

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306 W Rim View Road Payson, AZ 85541

$469,900

3 Beds

3.5 Baths

2,798 SqFt

Status Active

MLS # 6662934

Property Type Single Family Residence

Price Type --

Exceptional opportunity to own a beautifully renovated home perfect for families or investors. Numerous upgrades incl. fresh paint, new flooring, cabinets, fixtures, HVAC, etc. Conveniently located just a mile from Green Valley Park and Lakes this 3-bedroom property (with an optional 4th BR that can be used as a den) also features 3.5 baths. Versatile downstairs space for 2nd living area or game room. One master BR on main level, along w/kitchen and living room and basement too. Spectacular mountain and town views from balconies. Just 1.5 hrs. from the city, this home offers a peaceful escape while providing investment potential. Come see this gorgeous home to experience all its possibilities.

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3550 W Whispering Wind Drive Glendale, AZ 85310

$469,900

3 Beds

2.5 Baths

1,557 SqFt

Status Active

MLS # 6680224

Property Type Single Family Residence

Price Type --

3 bedroom, 2.5 bath Great size home with private backyard and covered entry. Huge open living room with lots of natural light. Bedrooms are upstairs for extra privacy. Mature landscaping in front and back. Quick walk to the community pool and hot tub. 2 car garage. Watch the hot air balloons in the am over the mountains. Great location with easy access to get out of town and explore up North.

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2310 W Stella Lane Phoenix, AZ 85015

$469,900

3 Beds

2 Baths

1,131 SqFt

Status Active

MLS # 6684168

Property Type Single Family Residence

Price Type --

Looking for a remodeled home to call your own? Check out this charming 3-bed, 2-bath with new Renewal by Andersen windows, New HVAC with a 10-year transferable warranty, white shaker cabinets, and quartz countertops—beautifully updated bathrooms. Stainless steel appliances. Corner lot w/ a relaxing covered patio. Large covered storage area/workshop. The seller is willing to help buyers with concessions for closing costs or to buy down their rate!! This location offers swift access to Uptown, entertainment arenas, and the lively downtown scene

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705 W Village Parkway Litchfield Park, AZ 85340

$469,900

3 Beds

2.5 Baths

1,955 SqFt

Status Active

MLS # 6678968

Property Type Single Family Residence

Price Type --

This gently-lived in single family home in the Village at Litchfield Park has been meticulously maintained by the original owners, and offers 3 bedrooms and 2.5 baths in 1955 SqFt. Nicely upgraded throughout, the spacious kitchen offers an abundance of raised panel ''Cranberry'' maple cabinetry, granite countertops, center island, and stainless appliances. The primary bedroom is on the main floor and has access to the patio, and an en-suite bath with dual sink vanity, separate tub and shower, and walk-in closet. Upstairs is a charming loft area with access to the balcony, and two secondary bedrooms that share a Jack & Jill bath. Recent updates include a Trane 14-SEER A/C unit with warranty, new soft water and R/O system, new smoke/CO2 detectors, newer Zone Board, and much more! Other * upgrades include a premium homesite siding the greenbelt, surround sound pre-wire with speakers, upgraded carpet and 18x18 tile floors, window coverings throughout, and a 2 car garage. Refrigerator, washer, and dryer are included, making this home move-in ready for you! With just a short walk to the pool, spa and playground, multiple grocery/drug stores, schools, churches, etc. within walking distance; and a short drive to Wigwam and Palm Valley golf courses, this house is a must see. See today!

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914 Leisure World -- Mesa, AZ 85206

$469,900

2 Beds

2 Baths

1,964 SqFt

Status Active

MLS # 6659938

Property Type Single Family Residence

Price Type --

You are going to love this completely remodeled, modern home, in Leisure World. The private covered front courtyard is perfect for entertaining or a relaxing cup of coffee in the morning. The moment you open the front doors, you will be impressed by the open concept living with a huge kitchen with tons of cabinets for storage and an enormous island you could have a party around. Both bathrooms are tastefully updated, and the 2 bedrooms are enormous with huge walk in closets. The bonus room has a Murphey bed plus room for an office or workout area. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and much more!

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7167 W Merriweather Way Florence, AZ 85132

Open House

$469,900

2 Beds

2 Baths

2,094 SqFt

Status Active

MLS # 6686698

Property Type Single Family Residence

Price Type --

DON'T WAIT MONTHS TO BUILD when this immaculate and highly upgraded Pursuit model is ready today. Notice the meticulously maintained desert landscaping, paver lined driveway and paver front patio. Inside is just as stunning as outside with features that include a chefs kitchen w/cherry cabinets, slide drawers, crown molding, quartz countertops, stainless steel appliances, pendant lights, under cabinet lighting, plantation shutters, a built-in entertainment center w/surround sound, den with double doors, a spacious laundry room w/storage cabinets and sink epoxy floors, garage storage and garbage can corral. Open up the two sliding doors to let the outdoors in! You and your guests will love the extended paver patio w/electric shade, fire pit and privacy wall. AMAZING HOME! AMAZING PRICE!

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14851 S 179th Avenue Goodyear, AZ 85338

$469,778

3 Beds

2 Baths

1,845 SqFt

Status Active

MLS # 6661915

Property Type Single Family Residence

Price Type --

Absolutely beautiful 3 bedroom 2 bathroom home on corner lot in the exclusive master planned community of Estrella Mountain at Vidrio. Step into this open concept home, entertaining kitchen with lots of counter space, walk in pantry and SS appliances. The 9ft ceilings and abundance of windows makes this home bright and spacious! The home has been designed by our professional design team. Come in today and see why this home really does stand apart from all the rest!! Gourmet kitchen with a separate gas cook top, and white quartz counter tops, 42 inch cabinets with decorative back splash. Primary bathroom has a large walk-in shower and large walk-in closet. Two guest bedrooms and a full bathroom complete the home. Builder is offering closing costs incentive to buy down interest rate

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27421 W Pontiac Drive Buckeye, AZ 85396

$469,700

2 Beds

2 Baths

1,625 SqFt

Status Active

MLS # 6617757

Property Type Single Family Residence

Price Type --

START LIVING THE DREAM! This Like New Hideaway Model Has It All! Enter the open concept, split floorplan w/wood plank like tile flooring, designer lighting features & custom window treatments througout. Inviting gathering space offers plenty of room for dining & entertaining. Chefs kitchen features upgraded cabinets, stylish quartz counters, SS appliances, walk-in pantry, island w/seating & pendant lighting. The master bedroom has a private bath w/quartz counters, dual sinks, vanity, walk-in, tile surround shower & large walk-in closet. Charming guest bedrrom w/adjacent bath. Den is perfect for office or hobbies. Extended Utility room has additional storage cabinets. Enjoy outdoor living on the expansive, paved patio overlooking this oversized, low maintenance private, walled backyard.

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1468 E Torino Court Casa Grande, AZ 85122

$469,668

3 Beds

2 Baths

1,820 SqFt

Status Active

MLS # 6657634

Property Type Single Family Residence

Price Type --

The ranch-style Pewter floor plan includes a very exciting feature—an attached RV garage! The interior of the home is just as attractive, centering around an open layout with a great room and center-meet doors leading to a covered patio. You'll also love the dining area and kitchen with a center island and a large walk-in pantry. The primary suite showcases a walk-in closet and a private bath. Two additional bedrooms and a bath round out the residence. Designer Curated finishes included!

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14762 S Country Club Drive Arizona City, AZ 85123

$469,500

4 Beds

2.5 Baths

2,597 SqFt

Status Active

MLS # 6682192

Property Type Single Family Residence

Price Type --

LOOK NO FUTHER, BEAUTIFUL MOVE IN READY HOME IN ARIZON CITY. This 4 bedroom and 2.5 bath has 10 feet high ceiling with porcelain tile all through house. Wide open great room that flows into kitchen for an amazing open feel to the home. Spacious master bedroom with walk-in closet and double sink master bathroom.

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890 Oasis Drive Wickenburg, AZ 85390

$469,500

3 Beds

2 Baths

1,672 SqFt

Status Active

MLS # 6617271

Property Type Single Family Residence

Price Type --

BRING ALL OFFERS! You are going to love the privacy & serenity of this beautifully updated 3BD 2BA home built in 2002 right in the heart of Wickenburg. Updates include, brand new shingle roof, installed Oct. 2023, all new exterior paint, all new vinyl windows in 2023, all appliances are 2 years new along with washer & dryer 1 yr old. Kitchen has been updated and features rustic wood countertops, fantastic coffee bar area w/ floating shelves, updated cabinet doors and plenty of storage. Tile floors throughout. Both bathrooms have been updated and feature lovely all tile walk-in showers. Fantastic additional garage/workshop added that allows for an additional 2+ cars to be housed. Woodworker or crafter will love the additional storage/workspace in this home. Backyard is a paradise! Live your very best life in this peaceful backyard. Ramada added for BBQ area, mature landscape w/ shade trees, fully fenced too! The front features a niche' for sitting and enjoying the peace & quiet of your own little slice of the Wickenburg lifestyle. Remember, we love Wickenburg because of our amazing Fall, Winter & Spring weather, this property allows you wonderful space to enjoy every minute!

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4212 S 105th Lane Tolleson, AZ 85353

$469,500

3 Beds

3 Baths

2,162 SqFt

Status Active

MLS # 6621459

Property Type Single Family Residence

Price Type --

FORMER MODEL HOME!! Ready for Quick Move-In. Every Chef will love this house, Kitchen has a GOURMET KITCHEN that includes DOUBLE OVENS, cooktop w/microwave overhead. 42'' Kitchen Cabinets in ''BURLAP'' color with Satin Nickel Hardware, White Quartz Countertops in Kitchen and Bathrooms! Plank tile flooring in ''Ash Gray'' thought-out all main living areas, upgraded carpet in bedrooms, study and loft. First floor features a study and full bathroom as well as two tone paint throughout. Primary bath includes SEPERATE TUB/SHOWER, dual vanity sinks, quartz countertops and spacious walk-in closet with separate private access to the laundry room. This home also features garage service door, covered back patio and spacious, landscaped backyard with artificial turf and room for a pool.

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