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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37200 N Cave Creek Road Unit 1055 Scottsdale, AZ 85262

$2,800,000

4 Beds

4.5 Baths

3,041 SqFt

Status Active

MLS # 6774624

Property Type Single Family Residence

Price Type --

Welcome to this exquisite modern Camelot villa, located in the prestigious SEVEN subdivision of Desert Mountain! This well thought out home offers captivating views and privacy. Upon entering, the expansive great room welcomes you, offering stunning northern views of the Continental Mountains and a luxurious patio space to enjoy. Boasting over 3,000 square feet, this home features 4 bedrooms, 4.5 baths, elegant flooring, custom cabinetry, stylish lighting, and breathtaking countertops throughout. The Primary bathroom offers heated floors, a steam shower, a dream-worthy closet, and towel warmers. The fully landscaped backyard is perfect for creating unforgettable memories, complete with a pool, BBQ, and fire pit. Adding to the luxury are the two separate casitas—an exceptional and rare feature! The innovative telescoping doors provide a seamless flow from the spacious interior to the stunning outdoor spaces, capturing the essence of Arizona's indoor-outdoor lifestyle. The gourmet kitchen is a chef's dream, equipped with state-of-the-art appliances. Every detail of this villa, from the beautiful landscaping to the meticulously designed spaces, has been curated for an unmatched living experience Furniture available under a separate agreement.

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6637 E Hearn Road Scottsdale, AZ 85254

$2,800,000

4 Beds

3 Baths

3,006 SqFt

Status Active

MLS # 6765654

Property Type Single Family Residence

Price Type --

This fully remodeled home completed in 2022 is being sold with plans and renderings to expand to 6,500 sq. ft., featuring 7 beds, 6.5 baths, a 4-car garage plus a 934 sq. ft. RV garage, and a home theater. The current layout includes 4 bedrooms in a split floor plan, with a secondary master suite and two additional baths in the west wing. The owner's suite offers large windows overlooking the 2/3-acre backyard, complete with a private pool, sport court, fire pit, outdoor kitchen, and extended turf area. A seamless blend of modern design and future potential.

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25 E Foxboro Road Munds Park, AZ 86017

New

$2,800,000

3 Beds

2.5 Baths

3,000 SqFt

Status Active

MLS # 6788186

Property Type Single Family Residence

Price Type --

ABSOLUTELY STUNNING Handcrafted Full-Scribe Log Home Nestled Among the Tall Pines and Backing National Forest Property for the Ultimate Mountain Living Experience. This Classic 3000-Square-Foot 3 Bedroom Ranch Style Home has been Featured in the ''Curb Appeal'' Issue of Log Cabin Homes Magazine. From the Western Red Cedar Logs to the Oak Flooring, From the Wapiti Rock Fireplace to the 750 Square Foot Covered Patio, No Expenses Were Spared! The Kitchen has a Wide-Open View of the Rest of the House, Including the ''Family Tree'' a Timber that Supports the Roof Structure from Within. Wolf Appliances, Expansive Granite Countertops, a Large Eat-In Island that Comfortably Sits 4 and Abundant Natural Light Makes for an Environment Like No Other. Please Book Your Very Own Private Tour Today!

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5587 E Edward Lane Paradise Valley, AZ 85253

$2,800,000

3 Beds

3 Baths

2,502 SqFt

Status Active Under Contract

MLS # 6746956

Property Type Apartment

Price Type --

Lock and leave modern Villa, southern exposure and views of iconic Camelback Mountain. First floor, end unit on quiet street, single level living, 10' ceilings, Sierra Pacific casement windows and 9' bi-fold doors, wood floors throughout, dual fuel 48'' Wolf range w 6 burners, 48'' Wolf wall hood, 48'' Sub-Zero refrigerator, new Cove DW, Quartz countertops, Rinnai Tankless water heater, Kohler fixtures, Emtek door hardware, Toto lavatories, motorized shades, Distinctive custom cabinets and custom closet design, garage storage, epoxy finish and electric car charger, Resort style living, Concierge svcs, golf, artisanal dining, Fitness studio w yoga, pilates & more. Long list of personalized guest services at Mountain Shadows Resort. NO SHORT TERM RENTALS - 6 mo minimum lease. Citizens Club members enjoy priority tee time access on the golf course, equal to hotel guests, use of 4500 sf fitness center and all group fitness classes, introductory fitness assessment, use of day locker facilities, and signing and charging privileges throughout the Resort. Mountain Shadows Resort Amenities made available to Villas Homeowners include a 15% discount to the lower of the Best Available Rate or Rack Rate before discount to Resort guests, including: Hotel Room Nights Restaurant Food & Beverage Greens and Cart Fees Poolside Cabanas Retail Outlets Hotel Valet or Self Parking Nome Meal Delivery from the Resort's Food and Beverage Outlets Alarm system, prewired for motorized shades, smart home.

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10779 E Whitethorn Drive Scottsdale, AZ 85262

$2,800,000

4 Beds

3.5 Baths

4,063 SqFt

Status Active

MLS # 6693349

Property Type Single Family Residence

Price Type --

Now $150K UNDER new appraisal. Exquisite NEW CONSTRUCTION in gated Pinnacle Canyon completed March 2024 by Bent Nails, Inc. and Realm Architecture & Design. Quality through and through, this desert getaway is replete with luxurious finishes such stone and wood floors throughout, granite countertops, handcrafted custom cabinetry, Subzero/Wolf Kitchen and loads of extras such as refrigerator/freezer drawers, steam oven, vacuum seal drawer, and a passthrough window from the outdoor kitchen. The open concept family room centers on a gorgeous stone fireplace and is perfect for large gatherings or intimate evenings at home; this flexible floor plan offers privacy and comfortable living. Beautiful Primary Suite and Junior Primary Suite; both are bright and airy with wonderful walk-in closets and their own laundry. Wood plantation shutters and automated shades throughout. Disappearing doors allow indoor/outdoor living to flow out to a generous covered patio overlooking the surrounding mountains.Enjoy this acre+ desert oasis year round with built-in heaters, heated pool and spa, fire pit, misting system, and a fabulous outdoor kitchen. Whole-house water filtration and soft water, Lutron system controls shades, thermostat, lights. Auto-locking garage doors. *Please check the documents tab for an extensive list of amenities* This is truly Arizona living at it's best!

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3079 E Fruitvale Court Gilbert, AZ 85297

$2,800,000

6 Beds

7 Baths

6,051 SqFt

Status Active

MLS # 6721005

Property Type Single Family Residence

Price Type --

This 6 bedroom, 7 bath home has it all! Theater room, interior courtyard, a full-sized lap pool/spa, putting green, 4 car garage w/ storage. The list goes on. This home has also been upgraded with a 30'x60' RV garage with hook up and sewage drain, along with storage cabinets and a sink. It also has an exterior half bathroom that serves the shop and pool area. This beautiful home's exterior has been freshly painted, the pool was upgraded in the last month, resurfaced and new waterline tile added, the baja step was extended, and barstools installed for swim up effect. The pool also received new updated equipment. The turf in front yard along with a paver round-a-bout drive for extra parking were also additions recently completed. This home is great for entertaining and calls for lots of fun

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26485 N 108th Way Scottsdale, AZ 85255

$2,800,000

6 Beds

6.5 Baths

6,602 SqFt

Status Active

MLS # 6723125

Property Type Single Family Residence

Price Type --

Welcome to a stunning custom-built masterpiece that exudes romantic charm and timeless sophistication. Nestled in the prestigious Windy Walk Estates, part of the Troon Village community, this home offers an enchanting blend of elegance and classic design. As you step through the grand entrance, you are greeted by the glow of ornate chandeliers that illuminate the spacious living areas. The beautiful iron spiral staircase adds to the home's captivating allure. For your convenience, an elevator provides easy access to all levels of this remarkable residence. The primary bedroom is a true retreat, featuring a private balcony that offers breathtaking views of Pinnacle Peak. Imagine waking up to the serene beauty of the mountain every morning, framed perfectly by the large windows in your bedroom. This home is designed for those who appreciate fine details and luxurious touches. The property includes a two-bedroom separate casita, each with its own entrance. One unit features a kitchenette, making it perfect for guests or extended family stays. The main house boasts a wet bar with a built-in wine fridge, ideal for entertaining. Step outside to the backyard oasis where a sparkling pool with a waterfall feature awaits. Whether you're hosting an intimate gathering or enjoying a quiet evening at home, the ambiance of this property will captivate and inspire you. Experience the epitome of luxury living in this exceptional Scottsdale home.

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10379 E White Feather Lane Scottsdale, AZ 85262

$2,800,000

3 Beds

3.5 Baths

4,778 SqFt

Status Active

MLS # 6734916

Property Type Single Family Residence

Price Type --

REDUCED $200,000! BACK ON MARKET AFTER ROADS RESURFACED. Introducing easy access, lock & leave, move-in-ready custom in Troon's esteemed Pinnacle Canyon! This Tierra Builders custom home offers a split floor plan: 3 bed, 3.5 bath, office & 3-car garage, perfect for luxury living. Positioned alongside the 17th tee box of Troon's Monument Course, it's a dream for golf enthusiasts. Recently renovated with fresh paint, a new roof & a meticulously designed resort-style backyard, the property is a sanctuary of luxury. For entertaining, the spacious semicircle wet bar has seating for 6. Light bright interior spaces, with high ceilings throughout. MORE. Step into the backyard oasis boasting new patio & pool decking, upgraded pool equipment & beautifully updated landscaping, creating an ambiance of tranquility & refinement. The breathtaking views of majestic mountains (including Pinnacle Peak) and sparkling city lights from multiple vantage points throughout the home. Whether entertaining guests or enjoying quiet evenings, this residence offers single level living plus an unparalleled blend of elegance and comfort. Don't miss the chance to own this exceptional retreat that embodies the essence of upscale Sonoran Desert living at PINNACLE CANYON AT TROON. Additional new upgrades include: washer & dryer, dishwasher, tankless Navien gas water heaters, epoxy sealed garage floors, all landscaping irrigation lines, and exterior landscape lighting.

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25564 N 119th Street Scottsdale, AZ 85255

$2,799,995

3 Beds

3.5 Baths

4,330 SqFt

Status Active

MLS # 6728699

Property Type Single Family Residence

Price Type --

This STUNNING plan with award winning exterior design in a gated community can be yours at Toll Brothers at Ranch Gate Estates! Generous 65,600 sqft (estimated) home site size. This Mariola home design boasts dramatic ceilings up to 12' tall with 3 bedrooms, 3.5 bathrooms, a primary retreat, a flex room and an added bonus room. The dramatic interior courtyard welcomes great opportunity for indoor/outdoor living and the perfect ambiance to entertain family and friends. Two sets of large stacking doors off the dining room along with a 90-degree corner sliding door at the great room welcome a light-filled home along with bringing views to the outdoor living from all angles inside the home. Close proximity to the McDowell Mountains for hiking and biking. November 2024 move in date!

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12313 N 93rd Way Scottsdale, AZ 85260

$2,799,990

4 Beds

4.5 Baths

5,117 SqFt

Status Active

MLS # 6675558

Property Type Single Family Residence

Price Type --

Up to 3% of Base Price or total purchase price, whichever is less, is available through preferred lender. The stunning Sterling model comes complete with landscaping in both the front and back yards, as well as a spacious four-car tandem garage. The kitchen is adorned with KitchenAid Pro Premier Appliances and features a thoughtfully planned cabinet layout. In the foyer, a trey ceiling adds elegance, while the great room is highlighted by a multi-panel center sliding glass door. Additional luxuries include an AV built-in with a fireplace, a guest suite with a living area, and a lavish owner's bath. All conveniently situated in the sought-after Cactus corridor.

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5841 S Marin Court Gilbert, AZ 85298

$2,799,900

4 Beds

4.5 Baths

5,286 SqFt

Status Active Under Contract

MLS # 6721236

Property Type Single Family Residence

Price Type --

Beautiful custom 4BR/4BA + den, dining, game room & nicely upgraded detached guest quarters. Combined sq ft of 5286. Private, theatre, travertine floors, 12 ft ceilings with striking wood beams, stone accents & crown molding throughout. The killer kitchen features Wolf Appliances, massive granite counter top space, 2-dishwashers, walk-in pantry & a cool beverage service area. Primary BR features coffered ceilings, custom closets, dual walk-in shower & Jacuzzi tub. Bring the toys, trucks, etc. & store them in your HUGE detached 2000 + SF, garage. With over ht. 14 ft RV door + 3-car attached gar. This home has been designed for a lifestyle of unparalleled comfort & luxury! The back yard Oasis is set with pool, spa, massive fireplace , built-in BBQ & ext. patio for all your entertainment! Situated near one of Gilbert's premier location only 5-10 min. to the So. 202 FWY, SanTan Village Mall, 20 min. to both downtown Gilbert & downtown Chandler & 35 minutes to Phoenix Sky Harbor International Airport. Far too much to list, a must see!

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6539 S Oakwood Way Gilbert, AZ 85298

$2,799,000

6 Beds

4 Baths

6,500 SqFt

Status Active Under Contract

MLS # 6769600

Property Type Single Family Residence

Price Type --

Welcome to 6,500 square feet of pure custom luxury w/in the highly coveted gated community of Estados at Seville Golf & Country Club in Gilbert, Arizona. This custom-built estate offers the ultimate in country club living, complete with a fully finished basement, oversized rooms, his-and-her office spaces, an enormous walk-in closet, pantry, and a home theater. The backyard is a true resort oasis, set on a three-quarter-acre lush green lot. It boasts a diving pool, sport court, children's playground, sunken trampoline, built-in BBQ, outdoor living room, and an expansive covered patio with multiple walls of glass that effortlessly blend indoor and outdoor living spaces. Once you settle into this stunning estate, with its custom finishes throughout, you may never want to leave... But the amenities of Seville Country Club will beckon! Just a short golf cart or bike ride away, you'll find an 18-hole golf course, a health & fitness center, two restaurants, four pools, two-story waterslides, tennis and pickleball courts, reception halls, a hair salon, a preschool, a K-8 school, on-site childcare, bocce ball courts, concerts, and so much more. The Seville lifestyle offers far more than a typical neighborhood. Once you experience it, you'll understand why it's one of the most sought-after communities in the greater Phoenix area. Located in Gilbert, Arizonarenowned for being one of the safest communities in the U.S.this massive, elegant estate awaits to welcome you home to a new level of luxury living.

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