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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818 N 87th Street Scottsdale, AZ 85257

$550,000

3 Beds

2 Baths

1,628 SqFt

Status Active

MLS # 6761025

Property Type Single Family Residence

Price Type --

LOCATION LOCATION LOCATION! Welcome to this spacious home, nestled in the heart of South Scottsdale, and ideal for someone looking for a home improvement project. With some modern updates, this home will easily return to its full potential. It has great bones and a fabulous layout with both a family room and a living room, spacious kitchen, and a pool that's serviced weekly behind a new wrought-iron fence and a newer variable speed pump and filter. New'ish SS appliances are staying, along with the W&D. An atrium off the family room is a perfect place for a flower garden or water feature. This is your opportunity to put your own touches and style on an affordable home in a prime location with a LOW HOA near the 101 and 202, and a 7 minute drive to both Old Town Scottsdale and ASU.

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18001 N 46th Drive Glendale, AZ 85308

$550,000

4 Beds

2.5 Baths

2,620 SqFt

Status Active

MLS # 6751622

Property Type Single Family Residence

Price Type --

Come see this beautiful 4bed / 2.5 bath home located in the Belair neighborhood on the golf course! Take in the beautiful scenery in your own private pool - You've gotta see this one!

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1036 E Sahuaro Drive Phoenix, AZ 85020

$550,000

3 Beds

2 Baths

1,735 SqFt

Status Active

MLS # 6760943

Property Type Single Family Residence

Price Type --

Welcome to the heart of Phoenix. This 3 bedroom 2 bath open floor plan is nestled in the desirable Pointe Tapatio community. Once inside you are greeted with a sunken seating area with a large fireplace. Gaze up to the vaulted ceilings with windows that provide ample natural light. The spotless kitchen has numerous cabinets for storage and a new marble backsplash to complement the granite counter tops. Double doors open to the master bedroom with a California walk in closet and dual sink vanity. Relax in the spectacular backyard with your private pool and covered patio. Multiple recent upgrades: paved front patio, front & back yard timed watering system with all new pipes and drips, new kitchen appliances, backsplash, extra plush carpet and MORE. DON'T MISS OUT ON THIS BEAUTIFUL HOME

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1748 W Stanford Avenue Gilbert, AZ 85233

$550,000

3 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6762230

Property Type Single Family Residence

Price Type --

Wow check out this gorgeous and move in ready 3 bedroom, 2 bath home in the established Gilbert golf community of El Dorado Lakes! This corner lot is almost 10,000 sqft and is in a prime location right on the golf course! So many new improvements done in 2023 including a BRAND NEW ROOF, new interior paint, and new blinds and roller shades throughout. The kitchen has also been recently updated with gorgeous quartz counters, recessed lighting, RO under sink water system as well as a partial remodel to open the kitchen up to the great room. All 3 bedrooms and closets have new LVP vinyl flooring which means no carpet! The large primary suite has a separate exit to the backyard, an attached bathroom w/a new bathroom vanity and a walk in closet. The massive backyard features a covered patio that spans the full length of the home, new landscaping and irrigation, citrus trees and a view fence to enjoy the incredible golf course!

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2405 E Alameda Drive Tempe, AZ 85282

$550,000

3 Beds

2 Baths

1,560 SqFt

Status Active

MLS # 6763280

Property Type Single Family Residence

Price Type --

This attractive home offers 3 bedrooms, 2 bathrooms, a 2-car garage, and NO HOA! The seller has made significant updates, including removing a wall to transform the sunken living room into an open floor plan with a fireplace. The kitchen features modern grey cabinets, exquisite granite countertops, a black stone backsplash, black stainless-steel refrigerator and gas stove. The secondary bathroom has been renovated with a new tiled shower and a vanity topped with granite and a glass sink. The house has an expansive covered patio stretching from the side to the back, alongside a sizeable storage shed. The spacious diving pool has been renovated with Pebble Tec and outfitted with a new variable-speed pump, along with additional blocks added to the fence for enhanced privacy. Further upgrades consist of an AC unit that is only three years old, an attic fully insulated with blown-in material for greater energy efficiency, and a garage floor coated with epoxy. The front yard is landscaped with xeriscaping for low maintenance. The pool table is included if the Buyer wishes. Conveniently located near restaurants, shopping, and freeways.

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2362 N Kachina Lane Chino Valley, AZ 86323

$550,000

3 Beds

2 Baths

1,687 SqFt

Status Active

MLS # 6764850

Property Type Single Family Residence

Price Type --

Welcome to this charming 3-bedroom, 2-bath home situated on a spacious 1.5-acre lot in beautiful Chino Valley! Imagine unwinding on the large front porch, taking in breathtaking sunsets, or enjoying your morning coffee on the expansive back deck while watching the sunrise over stunning views that stretch as far as the eye can see. The home's prime location offers a scenic view of the Mignus Mountains & tree farm. Inside, you'll find a newly updated kitchen and bathrooms, adding modern comfort and style. The living room is bright and inviting with vaulted ceilings, a cozy fireplace, and abundant natural light. Two of the guest bedrooms feature unique storage lofts, perfect for added space and character. Brand new roof updated in 2023. Just 30 minutes from Prescott and close to Watson Lake, you can easily enjoy kayaking, fishing, and hiking the beautiful granite mountains. With ample room for animals, toys, or simply enjoying the mild four seasons, this property offers a blend of space, comfort, and rural charm. Don't miss out on this exceptional opportunity!

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6504 W Behrend Drive Glendale, AZ 85308

$550,000

4 Beds

2 Baths

2,313 SqFt

Status Active

MLS # 6765381

Property Type Single Family Residence

Price Type --

Move in Ready! Spacious 4-bedroom, 2-bath home in desirable Arrowhead Subdivision. Features an open concept kitchen to great room, fresh interior paint, and a prime location in Glendale with easy access to the Loop 101. Ideal for comfortable living!

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1100 W 9th Street Tempe, AZ 85281

$550,000

3 Beds

2 Baths

1,588 SqFt

Status Active

MLS # 6766519

Property Type Single Family Residence

Price Type --

You'll love this spacious 3-bedroom, 2-bath home with a rare two-car garage, located in the heart of Tempe! It features modern updates throughout, including a beautifully upgraded kitchen with ceiling-height cabinetry, Quartz countertops, and stainless steel appliances. The primary suite offers a bonus space perfect for a home office or an extra room, plus a large Arizona room ideal for a second living area or game room. The home boasts energy-efficient windows, a brand new 2024 HVAC system, and stylish tile flooring in the main living areas. The large backyard includes a covered patio with elegant tile, a ceiling fan, and a refreshing diving pool to cool off in the Arizona heat. Whether you're looking for a primary residence or an investment property, this home is truly move-in ready! Just minutes from ASU, Whole Foods, Trader Joe's, and downtown Tempe's many amenities. Don't miss out on this one!

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640 N Nevada Way Gilbert, AZ 85233

$550,000

3 Beds

2 Baths

1,847 SqFt

Status Active

MLS # 6768547

Property Type Single Family Residence

Price Type --

Cayman Square neighborhood of Gilbert. This home has some appealing features, including owned solar 3 bedrooms and 2 bathrooms Gourmet kitchen with stainless steel appliances white washer and dryer included. Master bedroom with an exit door to the backyard, master bathroom with an expanded shower, oversized second and third bedrooms. Separate formal dining, living room and family room. Whole house anti-scale water system, a fantastic feature for protecting plumbing and appliances from hard water buildup. 3-car garage with cabinets and oversized driveway. Backyard oasis a perfect space for relaxation, featuring an extended covered patio, artificial turf a gated private PebbleTec pool, palm trees giving you that tropical feeling! Convenient location: Close to freeways entertainment, and shopping, adding to the convenience of the property. This home will bring the new owner years of happiness and enjoyment!

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4449 W Keating Circle Glendale, AZ 85308

$550,000

4 Beds

2 Baths

2,038 SqFt

Status Active Under Contract

MLS # 6744003

Property Type Single Family Residence

Price Type --

Here is your chance to own a GORGEOUS home completely renovated in 2024. Located in Bellair, one of Glendale's most desirable communities, on a large premium Cul-de-sac lot (over 1/4 acre), this beautiful single-level home boasts 4 bedrooms, 2 bathrooms, & over 2000sf of living space. Updated with luxurious finishes - You will not find a more stylish home in a great neighborhood under $600k. Entering through a covered entry highlighted with large wooden double doors, you'll notice the brand new floors across this open floorplan. Your eye is drawn across the great room to the tastefully remodeled kitchen featuring stunning quartz countertops, marble backsplash, new stainless appliances and new cabinets. Roomy master suite has walk in closet and bathroom that exudes modern luxury... The bathroom is equipped with attractive subway tile, quartz counters, modern black hardware and bluetooth-enabled speakers. Down the hall you'll find three spacious guest rooms, with private closets, and sharing an upgraded guest bathroom featuring the same amenities as the master aside from the walk-in shower. The home also offers a cozy living room with wood-burning fireplace, and an open family room tucked in its own corner of the house. The home has a 2-car garage, plus RV gate on the side. A large covered patio with built-in storage overlooks the expansive backyard - graded and ready to be made into your private oasis. Incredible neighborhood with frequent community events - the home is situated within walking distance from the Golf Course and clubhouse, pool, and pickleball. Don't miss the opportunity to make this home your own!

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1607 W Shangri La Road Phoenix, AZ 85029

$550,000

4 Beds

3 Baths

2,073 SqFt

Status Active

MLS # 6771002

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom 3 bathroom home with a detached 4 car garage. 2 dwellings attached with 2 separate entrances. Total square footage of both dwellings is 2073. Guest home is 853sqft. Guest home is 1 bedroom with 1 bathroom and its own kitchen. Main home offers large laundry room/storage room, open eat in kitchen. Main living area has vaulted ceilings. Home has both an A/C , Heat and Evaporative system. 4 car detached garage is 30x21 with a front and back garage door and extra concrete in front and rear. Garage slab was poured extra thick for a car lift. Garage does have water, power, sewer, vacuum and cooling system. Property is completely fenced in on large corner lot. No HOA with amazing mountain views and hiking trails. Single family home but zoned for multi family use. Zoned R3.

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2233 Par Place Overgaard, AZ 85933

$550,000

3 Beds

3.5 Baths

2,895 SqFt

Status Active

MLS # 6771427

Property Type Single Family Residence

Price Type --

Looking to get out of the heat in the summer? Check this one out! This remodeled cabin in Overgaard, just 2 short hours from Phoenix. This 3 bedroom 3.5 bathroom, 2 Car Garage MULTI-GENERATIONAL property is perfect for full time living, or a weekend getaway. Home has been updated with new vinyl flooring throughout, white kitchen cabinetry, butcher block countertops, new fixtures & lighting throughout. On the main floor you will find an open concept living/dining area, fireplace, primary bedroom/bathroom, laundry room & powder room. Upstairs, is a huge loft/bedroom with a full bathroom. Go out your front door & downstairs, you will find a CASITA with its own separate entrance that features a full bedroom living room, kitchenette & full bathroom.

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