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.
Click Here to See What Your Home is Worth
10270 E Saddle Horn Trail
Scottsdale, AZ 85255
$2,300,000
4
Beds
4.5
Baths
4,003
SqFt
Status
Active
MLS #
6762997
Property Type
Single Family Residence
Price Type
--
A rare opportunity in Eagles Glen, a small gated community with just 57 lots, perfectly situated next to Desert Highlands. This property, being offered for the first time by the original owner, spans 1.42 acres, providing exceptional privacy & breathtaking views of Pinnacle Peak, Troon Mountain, and the McDowell Mountain range. The home's north-south orientation allows for beautiful sunrise and sunset views. Upon entering, you're greeted by dramatic high ceilings and stunning views of Pinnacle Peak that draw your attention throughout the home. The residence features three en-suite bedrooms & an expansive master retreat, complete with a private sitting area. The master bath includes a separate jetted tub, shower, and an oversized walk-in closet with a securely lockable sportsman's closet. Designed for both formal and relaxed living, the home offers a formal living room, dining room, and an oversized kitchen with seating that overlooks the pool and mountain views. A full wet bar off the dining area and a butler's pantry make entertaining effortless. The private backyard includes a large covered patio extending to the pool area, where you can soak in the surrounding mountain scenery. The three-car garage features oversized 8-foot doors and an extended third bay. Located just minutes from world-class golf at Troon North, as well as shopping, dining, and some of Arizona's best hiking trails, including Pinnacle Peak Park and the expansive 23,000-acre Scottsdale Sonoran Preserve
22220 N 36th Street
Phoenix, AZ 85050
$2,299,000
6
Beds
4.5
Baths
5,545
SqFt
Status
Active
MLS #
6769829
Property Type
Single Family Residence
Price Type
--
Seller financing available, flexible terms. Bring all offers. Luxurious Mirador style Custom home in Desert Ridge on large view lot with resort style backyard. Enter this mansion, enhanced with twin circular staircase, custom medallion, diagonal travertine tile flooring and designer master bathroom with jetted tub . Enjoy this 6 bedroom 4.5 bath spacious and well lit family home with gourmet kitchen enriched by granite counter tops, stainless steel appliances and rich alder wood cabinets with crown molding through out. Relax in this cozy home with two fireplaces for those chilly winter nights and surround sound music to cuddle your soul. Step into the resort like backyard made for entertaining with heated pool and spa, covered patio, putting green.
24450 N 132nd Place
Scottsdale, AZ 85255
$2,299,000
3
Beds
3.5
Baths
3,559
SqFt
Status
Active
MLS #
6779779
Property Type
Single Family Residence
Price Type
--
Largest NEW single level home in North Scottsdale; large energy efficient silled windows throughout; stacking glass doors at study, familyroom and dining PLUS 90 degree dual sliding doors at family room; 3 bed, 3.5 bath + enclosed study; fireplace at family room; tiled showers in both ensuites; 2nd showerhead at owner's bath, custom appliances, exposed beams at owner's retreat; waterfall island w/custom tile and cabinets; added electrical thruout; wood flooring; custom closet system in owner's retreat; upgraded paint and molding, 2x6 construction and much more; EXTENSIVE NEW HOME WARRANTY.
8157 E Sierra Morena Street
Mesa, AZ 85207
$2,299,000
3
Beds
4
Baths
4,685
SqFt
Status
Active
MLS #
6742442
Property Type
Single Family Residence
Price Type
--
This 2 ACRE Estate Home is a rare find in beautiful Las Sendas. This stunning property offers the most incredible unobstructed south facing views of the surrounding mountains & city lights. Discover the luxury living at its finest with this captivating residence that boasts a circular foyer with water feature, 20+ ft soaring ceilings & a sliding glass wall that blends the interior with the exterior. The professional Viking kitchen, theater room, home office & 2 well located powder rooms complete the interior. Embrace the pinnacle of luxury living with a spacious rooftop deck showcasing the panoramic views of the valley. The extra large 4 car garage will house your vehicles & all your toys. Located near loads of shopping, dining & freeway access.
13061 N 80th Place
Scottsdale, AZ 85260
$2,299,000
4
Beds
3
Baths
3,303
SqFt
Status
Active
MLS #
6744439
Property Type
Single Family Residence
Price Type
--
Discover LUXURY in this BEAUTIFULLY updated 3,303 SF home on a sprawling 35,140 SF corner lot. Featuring 4 bedrooms, including 2 master suites, and 3 bathrooms, this residence offers both elegance and comfort. Enjoy a spacious layout with a formal living & dining room, a family room with a fireplace, and a gourmet kitchen with dual islands. The backyard is an entertainer's dream with a private pool, above-ground hot tub, sports court, and putting green. Ample driveway space completes this exceptional home. A MUST SEE!
8627 E Wood Drive
Scottsdale, AZ 85260
$2,299,000
4
Beds
3
Baths
3,929
SqFt
Status
Active
MLS #
6695619
Property Type
Single Family Residence
Price Type
--
ACRE lot in the heart of the Cactus Corridor. This home gives you the opportunity to value add big time. Comps well over $800/sf (neighbor sold for 3.25m!), and the buyer will have the opportunity to modify, change, and add on to truly make this property their own. 4 bedrooms, 3 bathrooms, 3 car garage, putting green, batting cage, sand bunkers for chipping, and the home has a phenomenal floor plan. Top notch location with great schools. You're close to shopping, fine dining, grocery stores, 101 access, night life, all of it!! Make this home your own!
6504 E Oberlin Way
Scottsdale, AZ 85266
$2,299,000
4
Beds
4
Baths
5,171
SqFt
Status
Active
MLS #
6754283
Property Type
Single Family Residence
Price Type
--
Looking for a large 5000 SQFT + home but don't want to pay $3.5 Million for a Toll-Brothers new build? Want privacy, gated community and large lot, but don't want to purchase a tired home that has not been remodeled in 20 years? Want the latest design trends and styling but are hesitant to pay more than 500 per SQFT? This stunning home just might meet all your needs. The home was completely remodeled in 2023 and 2024. Please see documents tab for all the upgrades done. Located on a quiet dead-end street with a cul-de-sac, it features 4 Bedrooms and 4 Full baths along with a Gym and Den. With an expansive desert open space ( NAOS) both behind and across the property you will enjoy privacy in your new home. At the end of a level driveway you will find garage parking for 4 cars including a brand new oversized and insulated garage (10.5 ft ceiling and 8ft doors) large enough to accommodate a big lifted truck or car lift. New stone work including a travertine walkway enhances the curb appeal of the home. Backyard redesigned to feature travertine pavers, low maintenance artificial grass, citrus trees and a new Ramada with outdoor kitchen. Inside you will find all new porcelain and hardwood flooring thru-out. Brand new gourmet kitchen, featuring Euro look cabinets, new Viking and Monogram appliances, and expansive island. Main living area highlighted by soaring 12 ft ceiling and new liner gas fireplace. At the other end of your new home, a Prime Suite truly worthy of the word Prime. Oak wide-plank hardwood floors, standalone tub, imported porcelain, Starphire Glass and dual showers with massage jets turn this space into a Spa like retreat inside your new home. Two walk-in closets complete this 1100 SQFT enclave. High ceilings accommodate all new LED lighting and circulation fans. All four Bedroom have generous closets, in-suite bathrooms and new wide plank oak flooring. Laundry room features new Samsung W/D and built-in refrigeration with extra storage. 4 New Trane ACs will keep you cool in the Summer. New Spa heater will keep you warm in the winter. Owned and paid-off solar panels for low electricity costs. Electric car charger in garage. Saguaro Highlands is a gated community with amenities including a children's park and Tennis Court. Agent is related to Seller.
27874 N 67th Place
Scottsdale, AZ 85266
$2,298,000
3
Beds
3.5
Baths
3,923
SqFt
Status
Active
MLS #
6771037
Property Type
Single Family Residence
Price Type
--
The beautifully updated Toll Brothers Cadiz model is situated in Saguaro Highlands, one of North Scottsdale's premier neighborhoods, just minutes from the 101, hiking, shopping, great restaurants, and golf. Professionally redesigned in 2018, the expansive kitchen and family room are perfect for entertaining. Large covered patios invite you outdoors to enjoy a private backyard with a sparkling pool, fireplace, BBQ, and brand-new artificial turf for easy maintenance. Split floor plan with spacious primary suite and private patio, custom den, bonus area adjacent to 2 ensuite bedrooms. Plenty of storage in the garage and an additional 3rd car garage. Walk to the neighborhood park with tennis courts and a playground that is within walking distance of the elementary school.
8822 W Deer Valley Road
Peoria, AZ 85382
$2,296,000
5
Beds
3
Baths
2,945
SqFt
Status
Active
MLS #
6688320
Property Type
Single Family Residence
Price Type
--
***CHECK OU THE NEW VIRTULA TOUR VIDEO*** ATTENTIONENTREPRENEURS/INVESTORS! One-of-a-kind property with many streams of income! This property provides a flexible investment opportunity by combining different property types into a single lot. This unique property offers multiple turn-key ways of renting various spaces: Entire estate, event venue, two livable properties, or office space that can help offset your mortgage or create passive income stream. You can rent separately or together the main house (1945+ SF) and the guesthouse (ADU) one BD and one BA AND a full kitchen (1,000 SF built in 2023) with pool & Spa. This can be a vacation getaway, Airbnb, a place to host private parties and events, or an alternative to staying in a hotel. The opportunities are endless. In addition, the property offers separate free-standing suites and storage spaces: an insulated 12X10 room that can be rented as a salon, nail shop, or office space for small startup companies or people working remotely. The room has a separate two-ton Hessaire cooler for residential and commercial use. The storage space is a built-in 12x20 metal storage shed that can generate income as a storage unit for vehicles, etc. The improved graveled parking lot can be rented for space to park RVs, Campers, Trailers, Mobile homes, boats, extra cars, etc. The industrial metal-covered backyard has risen from dust to become a stunning oasis for entertainment. It can be used as a venue for special events (Buyer to verify all county requirements for permitting and licensing). Landscape improvements include lush trees and plants with automatic water systems, pavers for the main areas, and gravel for the parking area that can easily fit over 30 cars. The previous owner ran a concrete business and rented RV/Trailer/Boat space. This SPECTACULAR quality, rare, custom-built property was built in 2017 on just under an acre, in a prime Maricopa County location, NO HOA, in North Peoria, has been completely transformed from its original layout, with over $750K spent on renovation to expand and multiply revenue-generating business opportunities. The custom-built main house home, designed with a modern aesthetic, is quality-built with 2x6 construction. It went from a 2 BD to a 4 BD plus Den, with a 20-seer a/c and spray foam insulation. The renovated beautiful kitchen has a built-in microwave, farm sink, breakfast bar, and large island. The two bathrooms underwent a high-end renovation in 2022. The open patio was also enclosed as an added playroom, office space, or den with a separate two-ton Hessaire cooler for residential and commercial use. In 2023, a one-bedroom, one-bathroom, 1,000-square-foot stunning guesthouse with a fully functional kitchen was built. It also has an extended wraparound patio, fenced POOL and SPA. If that is not enough, outdoor two-door mobile (four-stall) restrooms was added in 2024 for the convenience of multiple tenants. Don't miss this rare opportunity.
7127 E Rancho Vista Drive Unit 4001
Scottsdale, AZ 85251
$2,295,000
3
Beds
2
Baths
2,171
SqFt
Status
Active
MLS #
6708940
Property Type
Apartment
Price Type
--
This incredible luxury renovation is expected to be completed by 12/20/2024. Welcome to this truly special one-of-a-kind Optima Camelview luxury renovation masterpiece. This property features 3 bedrooms + dining, 2 baths, 2171sqft, walk-in laundry and two private patios. Boasting a breathtaking organic modern design throughout, you'll find custom raw stone & wood works, premium lighting designs, full slab fireplace accent wall, sub zero & wolf appliances, sonos surround sound, automated blinds and so much more. The two private terraces (one off the living & the other off the master) offer lovely lush city & landscaping views. All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Women's Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.
10040 E Happy Valley Road Unit 2040
Scottsdale, AZ 85255
$2,295,000
2
Beds
2
Baths
2,635
SqFt
Status
Active
MLS #
6725907
Property Type
Single Family Residence
Price Type
--
IMMEDIATE DESERT HIGHLANDS GOLF CLUB MEMBERSHIP upon close of escrow. LOCATION, LOCATION... LOCATION!!! This updated southwestern home boasts breathtaking views of both Pinnacle Peak & the McDowell Mountains via its 2530 ft. elevation & southern exposure. Situated on a private cul-de-sac in the highly desirable ''Heights Neighborhood'', this single level, open floor plan offers numerous make-it-your-own design possibilities. The spacious front and rear yards afford expansive indoor/outdoor living areas. Patio deck complete with private pool provides quiet solitude. It's all here... Jack Nicklaus Signature Golf Course, 18 hole putting course, Restaurants (Ventana & Jack's), Fitness center, heated lap pool, tennis, pickleball, bocce, walking trails, social clubs, and gated security.
3222 Bear Howard --
Flagstaff, AZ 86005
$2,295,000
4
Beds
3
Baths
3,334
SqFt
Status
Active
MLS #
6750128
Property Type
Single Family Residence
Price Type
--
Escape to your mountain oasis, this beautifully updated home is on the fifth hole of the Canyon Golf Course in Forest Highlands. Situated on a generous lot, this thoughtfully designed floor plan allows for main-level living with plenty of space for guests. Vaulted ceilings and soaring windows showcase the ponderosa pines off the back deck, making the open concept living area an inviting space to relax or entertain. Appointed with smoked European oak floors, custom designed knotty alder wood cabinets, and new wood ceilings throughout the home. The chef's kitchen is ready for all your best creations, with a Sub Zero refrigerator, Wolf appliances and leathered quartzite counters. Two bedrooms, including the primary, are on the main floor, and two bedrooms upstairs share a bathroom. There is an additional loft, making a great space for a TV room, game room, or home gym. To stay comfortable no matter the season, the home has two new air conditioning units (2023), a new hot water tank (2023), a fifty year roof (2024) and heated floors in three of the bathrooms. Exterior painting was completed in 2023, garage painting in 2024, and new pavers placed in the front courtyard. All the work has been done and it is ready for you to make your own! Buyer to verify the homes square footage.