Refinancing a Conventional Loan in Mesa, AZ: What You Should Know

🧠 First, Know Why You're Refinancing

Your reason for refinancing sets the direction of your entire loan strategy. Mesa homeowners typically refinance for one of the following:

• Lowering monthly payments (hello, better budget)

• Reducing the loan term (build equity faster, pay less interest)

• Getting rid of PMI (private mortgage insurance)

• Switching from an ARM to a fixed-rate loan

• Accessing cash from equity (a.k.a. cash-out refinance)

Your goals matter — we’ll help you decide which refinance type fits best.

📉 Market Conditions in Mesa, AZ

Mesa’s housing market has remained strong and competitive. That means if you’ve owned your home for a few years, you’ve likely built up a nice chunk of equity — which can work in your favor during a refinance.

Rates fluctuate constantly, but locking in when they dip can lead to significant savings over the life of your loan.

🧾 Watch for Closing Costs

Even if your goal is to save money, refinancing isn’t free. You’ll need to account for closing costs, which typically include:

• Lender fees

• Appraisal

• Title and escrow

• Prepaid taxes and insurance

These can often be rolled into your new loan, or offset with lender credits — especially if you’re working with a creative, experienced mortgage pro (we might know a guy…😉).

📅 Timing Matters

A refinance might make perfect sense on paper — but if you're planning to move soon, the math may not work out. We’ll help you figure out your break-even point so you know exactly how long it takes for the refi to “pay off.”

Thinking of turning your Mesa property into a rental later? We can even advise on investment strategies during your refinance.

🏦 Conventional Loan Requirements

For conventional refinances, lenders typically look for:

• Solid credit (mid-to-high 600s or better is ideal)

• Stable income

• Enough equity (usually 20%+ to avoid PMI)

But don’t let that discourage you. Even if you're not quite there, we’ll show you how to get qualified or explore alternatives like FHA or VA refinances if you’re eligible.

🔑 Work with a Lender Who Actually Cares

A good lender doesn’t just quote you a rate — they walk you through the why, the how, and make sure it aligns with your long-term plans.

At Brick Mortgage, we don’t do “cookie-cutter loans.” We custom-tailor every refinance for homeowners in Mesa to make sure you’re getting the best possible outcome.

👋 Ready to Refinance in Mesa?

Let’s talk. Whether you want to lower your rate, tap into equity, or shorten your term — we’ll run the numbers, explain your options, and walk you through it with confidence.

Contact Brick Mortgage today — and let’s make refinancing your home in Mesa the easiest financial win of the year.