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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

41988 W Rosewood Lane Maricopa, AZ 85138

$597,000

3 Beds

2.5 Baths

2,325 SqFt

Status Active Under Contract

MLS # 6773609

Property Type Single Family Residence

Price Type --

Exquisite Waterfront home in the Award-Winning Active Community of Province. Over $95,000 in upgrades to this beauty! Tuscan-style gated courtyard; beautiful security screen door; fenced to the water; remote-operated sun screens to fully enclose a portion of the patio. Gorgeous custom landscaping with travertine patio, seating area by the water; solar lighting; upgraded PVC yard irrigation. This highly sought-after Redding model features a whole-home Wi-Fi mesh network; whole-home water filtration system; shutters thruout; beautiful engineered wood floors. Chef's kitchen is light and bright with an island; quartz countertops; pull-out drawers; under cabinet lighting; S/S appliances; gas cooktop and wall oven. The spacious living room picture window frames the amazing water views. Owner's suite is spacious and has a large closet, dual vanities in the bathroom. The garage features blown-in cellulose insulation above the garage; A/C system with heat; LED lighting; floor composite tiles; iron security door.

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6340 W Saddlehorn Road Phoenix, AZ 85083

$597,000

4 Beds

2.5 Baths

2,578 SqFt

Status Active Under Contract

MLS # 6722138

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 2.5-bath, two-story home nestled in a tranquil community. Spanning 2,542 sqft, this residence boasts an inviting family room with an abundance of natural light, vaulted ceilings, and high ceilings throughout. The kitchen features a pantry, granite countertops, and custom white cabinets with soft-closing doors. Enjoy meals in the formal dining area or the eat-in kitchen. Open the 4-panel sliding glass doors and bring the outdoors in! Enjoy a refreshing dip in the large Pebble Tec volleyball pool in your private, landscaped backyard. Relax on the balcony or patio and take in the beautiful views. This is the perfect blend of style, function, and resort-like living!

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812 W Cooley Drive Gilbert, AZ 85233

$597,000

4 Beds

2 Baths

2,051 SqFt

Status Active Under Contract

MLS # 6750880

Property Type Single Family Residence

Price Type --

Beautifully remodeled home in Cooper Ranch features a modern kitchen including new white shaker cabinets, white quartz countertops, stainless steel appliances, a gas range, and a large island with a breakfast bar that opens up to the spacious family room that features high vaulted ceilings and built in modern shelving. The master bedroom has brand new windows and french door to the back patio. The master bathroom was also fully remodeled with a huge walk-in shower and new floating vanities. The 4th bedroom has double doors and built in storage- perfect for an office! The home has new flooring throughout, fresh paint inside and out, and an indoor laundry room, Don't miss the 3 car garage, private pool, paved, extended covered patio, and artificial turf in the back with no neighbors behind.

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4955 E Indian School Road Unit 9 Phoenix, AZ 85018

$597,000

2 Beds

2.5 Baths

1,175 SqFt

Status Active

MLS # 6771155

Property Type Townhouse

Price Type --

A little slice of the Mediterranean right in the heart of Arcadia...welcome to Arcadia Gardens! This 12-unit community offers a peaceful and tranquil lifestyle, with lush landscaping abound and a sparkling pool, it's just minutes from a litany of outstanding dining, shopping and entertainment experiences. This immaculate home is move-in ready and features an upgraded kitchen that boasts dark cherry wood cabinetry, SS appliance package, double ovens, a coffee bar w/ wine fridge, and quartz countertops. Large windows provide an abundance of natural light throughout. The upstairs features 2 en-suite bedrooms, with the back bedroom providing direct access, via spiral staircase, to the back patio. Up one more flight of stairs and you will find your very own private roof top deck appointed with Trex decking and synthetic grass. This is an absolute must-see, as there is no better place to unwind and soak in the radiant beauty of Camelback Mountain and beyond.

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13330 W Milton Drive Peoria, AZ 85383

Open House

$597,000

2 Beds

2 Baths

1,760 SqFt

Status Active

MLS # 6700963

Property Type Single Family Residence

Price Type --

$10,000 DECORATING ALLOWANCE AT CLOSE OF ESCROW-your chance to enhance the DECORATING! LIKE NEW 2021-built 'Vibrant' with 9.25 kW SOLAR LEASE for huge savings, PLANTATION SHUTTERS & NO CARPET! Beautiful curb appeal & PAVERS on driveway & front porch. Many outstanding upgrades/features -GRANITE SLAB on kitchen counters & large island, stainless GE PROFILE appls w/5-burner GAS cooktop & GE French-door refrigerator, walk-in pantry. NEW 2024 LUXURY VINYL PLANK FLOORING in bedrooms & den; tile flooring in main areas. Large den. Inviting private backyard ideal for alfresco dining/entertaining has HUGE PAVER PATIO, faux grass, attractive landscaping, fenced including wall behind. Two-car garage w/EPOXY FLOOR & pedestrian door to EXTERIOR TRASH ENCLOSURE. SHORT DISTANCE to DOG PARK & MITA CLUB. Additionally, the primary suite has a large bedroom with no carpeting, double sinks, shower, toilet room & large walk-in closet. Guest bedroom with no carpeting & bath are split from primary suite providing privacy for you and your guests. POST TENSION SLAB. Gutters & downspouts. Extra area in garage can be used for storage, motorcycle, or golf cart. $2.40 IS THE AVERAGE FOR APS BILLS THE PAST 12 MONTHS! Gas line was installed for use in backyard. This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge community park loaded with amenities.

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25106 N 171st Lane Surprise, AZ 85387

$596,976

5 Beds

4 Baths

3,185 SqFt

Status Active

MLS # 6763334

Property Type Single Family Residence

Price Type --

MLS#6763334 December Completion! This adaptable Victory floor plan at Asante offers an inviting open-concept layout, where the kitchen flows effortlessly into the great room, complemented by a nearby dining area. The primary suite is conveniently situated on the main level, complete with a spacious walk-in closet and a thoughtfully designed bath. The first floor also includes a full bathroom, a powder room, and a versatile flex space that can be tailored to your lifestyle. Upstairs, you'll find additional bedrooms, a full bath, ample storage, and a loft, perfect for extra living or entertaining space. Structural upgrades include: a paver front porch and walkway, a fifth bedroom with an en-suite fourth bath, 12' x 8' multi-slide door, soft water loop and a garage service door.

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7843 E Plaza Avenue Scottsdale, AZ 85250

$596,500

2 Beds

2 Baths

1,703 SqFt

Status Active

MLS # 6778463

Property Type Townhouse

Price Type --

Welcome to this wonderful 2-bedroom townhome in the desirable Laguna San Juan Community! Discover a blend of tile & carpet flooring, neutral palette, and ceiling fans throughout. The two-way fireplace adds warmth and inviting ambiance, seamlessly connecting the inviting living room and formal dining room, ideal for relaxation and entertaining. The kitchen features abundant white cabinetry, built-in appliances, and a breakfast bar ideal for quick midnight snacks. Primary retreat boasts sliding glass doors to the back patio, plus an ensuite with dual sinks. Enjoy outdoor living in the serene backyard with a covered patio and pavers. Don't forget to take a refreshing dip in one of the two community pools! This rare find won't last long!

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16172 W Alameda Road Surprise, AZ 85387

$596,330

4 Beds

3.5 Baths

2,671 SqFt

Status Active

MLS # 6736644

Property Type Single Family Residence

Price Type --

MOVE-IN READY, BRIGHT GREAT ROOM PLAN, QUICK CLOSE!! 4 BEDROOM PLUS LOFT, 3.5 BATH, 9'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADE CABINETS, GRANITE KITCHEN TOPS, SPA SHOWER, TILED FLOORING. 2'WHITE BLINDS, CEILING FANS, FRONT YARD LANSCAPING COMPLETED, ENERGY STAR QUALIFIED HOME, INDOOR AIR PLUS. A SHORT DISTANCE FROM THE COMMUNITY POOL AREA, PICNIC AREA, TOT LOTS, BASKETBALL, PICKLE BALL COURTS AND SO MUCH MORE.

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5120 S Camellia Drive Chandler, AZ 85248

$596,000

3 Beds

2 Baths

1,983 SqFt

Status Active

MLS # 6746984

Property Type Single Family Residence

Price Type --

COME SEE this spacious 3 bedroom 2 bathroom home in Chandler! It's beautifully remodeled and has many upgrades throughout. SELLER will pay $6,000 towards buyers closing costs with acceptable offer. Enjoy the large open living room. The kitchen features many upgrades. The gourmet kitchen offers a custom cabinet and a lot of counter space with stainless steel appliances included. This home has a large den which can also be used as a game room. The washer & dryer is included. The backyard has a large screened-in patio for your enjoyment.

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21723 E Roundup Way Queen Creek, AZ 85142

$595,995

3 Beds

2.5 Baths

2,390 SqFt

Status Active

MLS # 6702192

Property Type Single Family Residence

Price Type --

Welcome to Light Sky Ranch and the Pinecrest plan! This home boasts 2390 square feet of meticulously crafted living space. With three bedrooms, two and a half baths, and a dedicated study, every corner of this home is designed with purpose. The kitchen features quartz countertops, upgraded shaker cabinets, and a central island that doubles as a culinary hub and gathering place. The owner's suite with en-suite bath, offers an over-sized walk-in closet. Outside, both a single-car garage & a 2-car garage offer ample storage for vehicles, outdoor gear, and more, ensuring both convenience and practicality. With amenities like a tankless water heater for efficiency and a charming paver driveway, this home harmoniously blends convenience and sophistication.

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29427 N 31st Lane Phoenix, AZ 85083

$595,990

5 Beds

3 Baths

1,953 SqFt

Status Active

MLS # 6771758

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender! This single-story home features ample space for growing families. Four bedrooms are lined up in a neat row, including the owner's suite, while an additional bedroom near the entry offers an ideal space for overnight guests. An open floorplan hosts the kitchen, dining room and Great Room with a spacious covered patio attached. Photos are renderings of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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23505 E Cactus Forest Road Florence, AZ 85132

$595,900

4 Beds

2 Baths

2,000 SqFt

Status Active

MLS # 6766695

Property Type Single Family Residence

Price Type --

NEW BUILD - 4 BEDROOM, 2 BATH HOME WITH 3 CAR GARAGE ON OVER AN ACRE OF LAND!! This Stunner offers 2000 SqFt with an Open Kitchen/Dining/Family Room plan. With Fans, White Cabinets, Stainless Appliances, Quartz Countertops, Upgraded Doors and Wood Plank Tile throughout, you won't find better!! The Bedrooms are spacious, Owner's Suite Offers Walk-in Closet and Frameless Glass Enclosure with Tile Surround. Extended 3 Car Garage, Covered Patio and room for all your Trailers, Toys and Storage. See it today!!

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