What to Know Before You Refinance Your Home in Queen Creek, AZ
Refinancing your home can feel a little like trading in your old car — you want to get a better deal, but you’re not exactly sure what all the fine print means. Whether you're aiming for a lower monthly payment, a better rate, or cashing out equity, there are a few key things to keep in mind before diving in.At Brick Mortgage, we believe informed homeowners make better decisions — and we’re here to help.
📉 1. Know Why You're Refinancing
Before you even look at rates, be clear on your goal:
Lower your interest rate (save long-term)
Shorten your loan term (build equity faster)
Switch from an ARM to a fixed-rate loan
Tap into equity with a cash-out refinance
Drop mortgage insurance (especially if you’re in an FHA loan)
Knowing the why will help us guide you toward the right type of refinance — not just the one that sounds good.
🧾 2. Understand the Costs
Yes, refinancing can save you money — but it’s not free. There are closing costs, which typically include:
Lender fees
Title fees
Appraisal (if required)
Escrow or prepaids
The good news? These costs can often be rolled into the loan or offset with lender credits (especially when you work with a savvy mortgage pro… like, say, Brick Mortgage 👀).
🧠 3. Consider the Break-Even Point
The break-even point is how long it takes for your monthly savings to cover the cost of the refinance.
For example, if refinancing saves you $150 a month and your closing costs were $3,000, it’ll take 20 months to break even. If you plan on moving or selling before then? Might not be worth it.
📋 4. Check Your Equity and Credit
Lenders look at two major things:
Home equity: You’ll typically need at least 20% equity for the best rates (unless you’re doing an FHA or VA refi).
Credit score: The higher your score, the better your terms.
If you're not quite there yet, we can help you figure out a game plan to qualify — no pressure, no judgment.
💼 5. Choose the Right Mortgage Partner
Not all lenders are created equal.
Refinancing isn’t just about plugging numbers into a calculator — it’s about customizing your loan to your goals, navigating local market trends (like Queen Creek's rising values), and making the process smooth and painless.
At Brick Mortgage, you’re not just another file — you’re a homeowner with a future we actually care about.
🏡 Thinking of Refinancing in Queen Creek?
Let’s chat. We’ll help you break it all down, show you your options, and build a refinance strategy that makes sense for your goals and your timeline.
No pushy sales talk. Just honest advice, fast answers, and real savings.
📞 Contact Brick Mortgage today — and let’s see what refinancing could do for you.