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

The Major Keys to Understanding When It's Time to Refinance Your MortgageAs 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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1972 W Olive Way Chandler, AZ 85248

$564,000
3 Beds
2 Baths
1,910 SqFt
Status Active
MLS # 6744573
Property Type Single Family Residence
Price Type --
Welcome to this captivating 3-bedroom, 2-bath residence in Montefino Village! Discover a welcoming living/dining room with high ceilings, a soothing palette, classic plantation shutters on the new Low E windows, and contemporary wood-look flooring. The inviting family room is perfect for gathering loved ones, featuring sliding doors leading to the backyard for seamless indoor-outdoor living. The gourmet kitchen comes with durable tile counters, ample wood cabinetry with crown moulding, recessed lighting, SS appliances, a pantry, and a two-tier island/breakfast bar. The main bedroom offers plush carpeting, an ensuite with dual sinks, and a walk-in closet. The backyard oasis showcases a covered patio and a refreshing pool for cooling down on hot days. This gem will sell fast!

886 S Avenida Escuela -- Sierra Vista, AZ 85635

$564,000
4 Beds
4 Baths
3,060 SqFt
Status Active
MLS # 6745314
Property Type Single Family Residence
Price Type --
LARGE PRICE REDUCTION!!! Fully remodeled 4 BR 4 BA and 2 car garage. Home is on a large .88 acre lot with landscaping & pecan trees. Large fully covered front porch with beautiful metal door imported from Mexico has serious curb appeal. The back yard is fully enclosed with block walls & large covered patio. interior of the home features new custom tile floors, modern light and plumbing fixtures, fully remodeled kitchen & bathrooms. The windows are new and dual paned. The living room has a see through wood burning fireplace connecting to the dining area. The kitchen has new cabinets with granite countertops, new dishwasher & stove. The master bedroom is good size with two closets and large corner shower. Each bedroom has it's own private bathroom. .

26990 W Burnett Road Buckeye, AZ 85396

$564,000
2 Beds
2 Baths
1,961 SqFt
Status Active
MLS # 6760185
Property Type Single Family Residence
Price Type --
Delightful 2-bedroom residence on a golf course lot! Be greeted by a 3-car garage, an impeccably designed front yard, & courtyard entry. The inviting family room boasts high ceilings, recessed lighting, a built-in media center, & surround sound speakers. Enjoy gourmet meals in the eat-in kitchen featuring granite counters, staggered cabinets w/crown moulding, stylish backsplash, pendant lighting, built-in appliances, a pantry, built in wine rack & an island w/breakfast bar. The primary bedroom offers an ensuite w/double sinks & walk-in closet. Den with French doors. Spend quiet afternoons in the enchanting backyard boasting a covered patio w/travertine tiles, a built-in BBQ w/dry bar, a warm firepit w/sitting areas, low-maintenance artificial turf & serene golf course views.

1642 E Monte Vista Road Unit 11 Phoenix, AZ 85006

$564,000
3 Beds
2.5 Baths
1,493 SqFt
Status Active Under Contract
MLS # 6722277
Property Type Townhouse
Price Type --
BRAND NEW CONSTRUCTION. This ENERGY STAR® Home is Perfect for the busy professional. Lock & Leave, Maintenance Free, 11 Single-Family Attached 2-story Townhomes. Nestled between Downtown Phoenix & Arcadia, this home is in close proximity to the best restaurants, coffee shops, medical centers, and so much more! Featuring an impressive open layout with abundant natural light and showcasing designer-selected finishes including hard surface flooring, upgraded fixtures and lighting, and a great attention to the details that matter most. The primary bedroom features an immaculate ensuite with quartz dual sinks and walk-in closet. Ask for end of year Incentives!

17463 N 66th Avenue Glendale, AZ 85308

$563,980
3 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6645957
Property Type Single Family Residence
Price Type --
FINAL OPPORTUNITY! ** LAST HOME REMAINING * * Mid-Dec 2024 completion. Our last available home in the community, nestled along the scenic Skunk Creek Trail near Arrowhead. Priced affordably with builder incentives for financing. Price includes front yard landscaping. This 3-Bedroom, 2.5 baths and 1832sq ft has no stairs or steps, with a bright, open Great Room and features a wall of sliding doors to the covered patio; Be the envy of your friends and family with this amazing Gourmet kitchen, with oversized island, walk in pantry, 42'' upper cabinets—all open to the Great Room with lots of light!

10959 E Tupelo Avenue Mesa, AZ 85212

$563,900
3 Beds
2 Baths
2,150 SqFt
Status Active
MLS # 6694537
Property Type Single Family Residence
Price Type --
Singe level pool home in Bella Via! Neutral paint and flooring in soothing tones is waiting for personal touches! Chef's kitchen with gourmet SS appliances including gas cooktop and wall oven, Expansive quartz island with extended staggered cabinetry Split floorplan is perfect for hosting guests. The spacious backyard with stunning pool is perfect for hosting BBQ's and enjoying the AZ sun! Prime East Mesa location near the 24, shopping and dining! Don't miss out on this one today!

4886 W Hunter Trail San Tan Valley, AZ 85144

$563,090
5 Beds
3 Baths
2,926 SqFt
Status Active
MLS # 6780940
Property Type Single Family Residence
Price Type --
The perfect blend of functionality comes to life. This stunning home boasts 5 bedrooms, 3 baths, home office, bonus space and walk-in closets, ensuring that there's room for everyone! The island takes center stage, serving as a workspace or a social hub where family and friends can gather. Whether you're preparing a gourmet meal or enjoying a family breakfast, the kitchen is designed to be a culinary haven. Dark Umber cabinets, granite counter tops with a generous amount of wood look tile! Stepping outside, the 3-panel sliding glass door offers an additional living space that seamlessly extends the indoor experience. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind

41355 N Eliana Drive San Tan Valley, AZ 85140

$563,000
5 Beds
3 Baths
2,880 SqFt
Status Active
MLS # 6765240
Property Type Single Family Residence
Price Type --
Seller may consider buyer concessions if made in an offer. Welcome to this beautifully updated home! The interior boasts a neutral color paint scheme and fresh paint. The kitchen is a chef's dream with an accent backsplash, convenient kitchen island and a walk in pantry for ample space. The primary bathroom is a sanctuary featuring double sinks, a separate tub, and shower. The primary bedroom is complete with a walk-in closet. Outside, enjoy the low maintenance landscaping, a covered patio perfect for entertaining, and a fenced-in backyard for added privacy. The home also features partial flooring replacement. This home is a must-see!e!

3102 W T Ryan Lane Phoenix, AZ 85041

$563,000
4 Beds
2.5 Baths
3,182 SqFt
Status Active
MLS # 6760028
Property Type Single Family Residence
Price Type --
Two-Story Home with Large Lot and Loft! Welcome to this stunning two-story home, perfectly situated on a large lot. This spacious 4 bedroom, 2.5 bath residence features an open-concept design ideal for modern living. The main floor boasts a large living room with abundant natural light, a gourmet kitchen with an island and walk-in pantry, and a formal dining area that opens to the backyard. The private master suite is located on the main level, offering a luxurious en-suite bath with a walk-in shower, soaking tub, double vanity, and a spacious walk-in closet. Upstairs, you'll find 3 additional large bedrooms and a versatile loft area—perfect for a second living room, media room, or home office. The expansive backyard is perfect for outdoor entertaining, & room for a pool and more...

2738 N 217th Avenue Buckeye, AZ 85396

$562,997
3 Beds
2.5 Baths
1,997 SqFt
Status Active
MLS # 6748415
Property Type Single Family Residence
Price Type --
This is a to be built home -- 6/7 months build time. Welcome to your 3-bed, 2.5-bath home with a 3-car tandem garage, located in Sienna Hills next to Verrado, nestled on The White Tank Mountains for privacy and views. With a North/South orientation, this energy-efficient home features cutting-edge SPRAY FOAM insulation and an electric car charger outlet. Enjoy granite countertops, a pot filler over the stove, paver driveway, 8' overhead garage door, and a double gate on a 10' side yard for your off-road toys. The 12' sliding glass wall seamlessly connects indoor and outdoor living. HOA dues include a pool, jacuzzi, clubhouse, and gym!

7 E La Vieve Lane Tempe, AZ 85284

$562,900
2 Beds
2 Baths
1,794 SqFt
Status Active Under Contract
MLS # 6768838
Property Type Single Family Residence
Price Type --
Two bedrooms and Den - Completely re-done and in excellent condition. Small yard to take care of. Dual pane windows - Almost new A/C unit top of the line* Kitchen and baths have been upgraded - Roll in Shower in Master Bathroom* Kitchen is to die for* Refrigerator, washer & dryer included. Ready to move in. Bright, cheery and vaulted ceilings Community Pool in Warner Ranch for your enjoyment and closed to all freeways, restaurants and shopping. Come look....

4656 E Laredo Lane Cave Creek, AZ 85331

$562,500
3 Beds
2 Baths
1,314 SqFt
Status Active
MLS # 6775740
Property Type Single Family Residence
Price Type --
No detail was overlooked in this immaculate and lovingly maintained - BETTER THAN NEW - single-level home in the highly sought-after, gated Dove Valley Ranch! Surrounded by desert preserve, this three-bedroom home features mountain views, an open-concept floor plan, and low-maintenance, worry-free living. Interior features include neutral tile flooring throughout, granite countertops, a gas stove, a renovated primary bathroom, plantation shutters, vaulted ceilings, and more. Step outside to find manicured desert landscape, a covered patio, and unparalleled views of surrounding mountain vistas and natural area open space. Beyond your new home, enjoy one of North Phoenix's finest public golf courses, a clubhouse bar/lounge, and easy access to first-rate schools, parks, hiking, & more. Roof 2019, HVAC 2015, water heater 2016, whole-home water filtration system... the list of thoughtful updates goes on. Come see your new home today!

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