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You could lower your monthly payments with great home refinance rates in Arizona.
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What is the maximum equity I can access in my home?
In most cases, the maximum loan-to-value for a cash-out mortgage refinance is 80%. This means that, based on a home’s appraisal, the new loan cannot exceed 80% of the appraised value.
How quickly can I close on a mortgage refinance?
Typically, a mortgage refinance transaction can be closed in 30 days or less. It’s important to keep in mind that the time it takes to close depends heavily on the complexity of the loan file and your help in supplying the documentation needed to move things along.
When should I refinance my home?
It depends on your situation, but a good rule of thumb for a no cash-out mortgage refinance is when you can lower your interest rate by one to two percentage points. On the other hand, if you need to access your equity with a cash-out mortgage refinance, lowering your interest rate may not be your top priority. Because this is a circumstantial question, it’s a good idea to consult with a mortgage professional.
Disclosures
1
Annual Percentage Rate (APR) shown effective {current-date} and is subject to change without notice. Visit our rates page for additional rate information and details. Mortgage loans are offered by Define Mortgage Solutions, LLC, NMLS ID #1761612, BK#0949053, a subsidiary of Desert Financial Credit Union.
