Rate-and-term
Change your rate, your term, or both. Useful when rates have fallen or when you want to pay the home off faster.
Refinancing · Arizona
Refinancing in Arizona
A refinance should solve a specific problem: lowering your payment, shortening your term, removing mortgage insurance or accessing equity. I will show you the break-even point and total cost, and tell you when waiting is the better move.
At a glance
Refinance when the math says so.
Cash-out
Access home equity for renovations, investments or debt consolidation, with limits based on your loan-to-value.
Streamline options
FHA Streamline and VA IRRRL refinances can reduce paperwork for existing FHA and VA borrowers, subject to program rules.
Honest break-even math
We compare closing costs to monthly savings so you know how long it takes to come out ahead.
Worth knowing
Things to weigh before you choose
- Refinancing resets your amortization unless you choose a shorter term.
- Closing costs can take months or years to recover.
- A very low existing rate is valuable, and if your loan is assumable, it may also help when you sell.
Assumable angle
If you have an FHA or VA loan with a very low rate, think carefully before refinancing it away. That rate may be a selling point: buyers can potentially assume it when you sell.
FAQ
Refinancing: common questions
When does refinancing make sense?
Usually when the monthly savings recover your closing costs within a time frame that fits how long you plan to keep the loan, or when a refinance solves a specific goal such as removing mortgage insurance.
What is a VA IRRRL?
The Interest Rate Reduction Refinance Loan is a streamlined VA-to-VA refinance designed to lower the rate or move from an adjustable to a fixed rate, often with reduced documentation.
Can I refinance an FHA loan to remove mortgage insurance?
Often, yes. If you have enough equity, refinancing into a conventional loan may eliminate FHA mortgage insurance. Whether it makes sense depends on the new rate and costs.
How soon can I refinance after buying a home?
It depends on the loan type and the kind of refinance. Some rate-and-term refinances can happen fairly soon after closing, while cash-out refinances and certain streamline programs have waiting periods. I check the timing rules for your loan before we start.
Does refinancing restart my 30-year term?
If you refinance into a new 30-year loan, yes. You can also choose a shorter term, such as 20 or 15 years, to keep your payoff date on track. The payment is higher, but total interest is usually lower.
Get started
See what you qualify for, no pressure.
A two-minute start, a real conversation, and a clear picture of your options. No hard credit pull to get started.
Typical reply: same business day · NMLS #2735366
