Capital Home Mortgage Arizona

Arizona refinance Home Loans

REfinance Mortgage Lender Arizona

Rate & Term Refinance Loans In Arizona

An Arizona rate and term refinance loan is a refinancing transaction in which an existing mortgage is replaced with a new one to adjust the interest rate, the loan term, or both. This method does not require additional money to be advanced on the loan. It is frequently used in response to falling market interest rates to lower monthly mortgage payments.

Pros and Cons of a Rate and Term Refi

The decision to pursue a rate-and-term refinance loan should be based on a thorough evaluation of your financial objectives, market conditions, and the associated costs. Before making such significant financial decisions, it is always prudent to obtain professional advice.

Advantages of a Rate and Term Refinance Loan

  • Lower Interest Rate

If market conditions or your creditworthiness have improved significantly after you obtained your mortgage, you can get a reduced interest rate through a rate and term refinance. This may lower your monthly payments and save you money over time.

  • Adjusted Loan Term

Depending on your financial objectives, you can choose to shorten or lengthen the term of your loan. Shortening the loan term may result in higher monthly payments but less overall interest paid, whereas prolonging the term may result in lower monthly payments but greater general interest paid.

  • No Cash-Out

Unlike a cash-out refinance, a rate and term refinance do not advance any additional money. This generally results in a lower interest rate because the lender is not exposed to the same risk.

Disadvantages of a Rate and Term Refinance Loan

  • Closing Costs

Closing costs for refinancing a loan can run into thousands of dollars. Unless you plan to stay in the house long enough to recuperate these fees, these costs outweigh any possible savings from a lower interest rate or a different loan term.

  • Longer Amortization

Though you choose to extend the loan term, even though the interest rate is lower, you may wind up paying more interest throughout the life of the loan.

  • Current Market Conditions

Refinancing may not be advantageous if interest rates are much higher than your current rate. 

Rate & Term vs. Cash-Out Refi

Both rate and term refinance and cash-out refinance are mortgage refinancing strategies for homeowners. However, they serve different goals and have distinct differences:

  • Purpose

    • Rate and Term Refinance

The primary purpose of a rate and term refinance is to take advantage of a lower interest rate or adjust the loan term to cut monthly payments or shorten the loan term.

    • Cash-Out Refinance

A cash-out refinance’s principal goal is to turn home equity into cash, allowing the homeowner to use the money for other purposes. This is accomplished by taking out a new loan more significant than the previous mortgage and cashing out the surplus funds.

  • Loan Amount

    • Rate and Term Refinance

In a rate and term refinance, the new loan amount typically covers the remaining balance of the previous mortgage. The loan amount is within the existing balance to meet related charges such as closing costs if necessary.

    • Cash-Out Refinance

The new loan amount is greater than the remaining balance on the existing mortgage in a cash-out refinance. The homeowner receives cash for the difference between the new loan amount and the current balance (less transaction expenses).

  • Equity

    • Rate and Term Refinance

This usually does not necessitate a significant amount of equity in the home. Refinancing may be advantageous if the homeowner can obtain a better interest rate or term.

    • Cash-Out Refinance

Because the homeowner is borrowing against the equity, substantial equity in the property is required. The amount of equity needed varies depending on the lender and loan type.

  • Use of Funds

    • Rate and Term Refinance

The money from a rate and term refinance is often used to pay down the original mortgage and any associated refinancing expenses.

    • Cash-Out Refinance

The extra funds from a cash-out refinance (over and above the actual mortgage payoff) can be utilized for whatever the homeowner desires, such as home upgrades, debt consolidation, or other substantial expenses.

While both types of refinancing might provide financial benefits, they also entail hazards, such as the prospect of rising interest charges over time or the chance of losing your home if you cannot repay the loan.

Apply for a Rate and Term Refinance in Arizona

There are numerous reasons why Arizona homeowners should consider Capital Home Mortgage for rate and term refinancing. Capital Home Mortgage provides competitive rates that could reduce your current mortgage’s interest rate, resulting in substantial savings over the loan term. In addition, Capital Home Mortgage is well-known for its low closing costs, which can reduce the total cost of refinancing.

Call (480) 360-6650 to speak with our Home Loan Specialists about your refinancing needs.

Why Arizona HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Arizona Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Arizona VA refinance Home Loans

VA Refinance Mortgage Lender

Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money.  Call today to speak to a VA loan officer.

VA Streamline Refinance

  • VA IRRRL Rate & Term
  • Streamline Option
  • No Appraisal Required
  • No Income Verification

VA Standard Refinance

  • Cash-Out or Loan Conversion
  • Full Documentation
  • Appraisal Required
  • Income Verification Required

Arizona FHA Refinance home Loans

FHA Refinance Mortgage Loans

FHA offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan.  This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.

FHA Standard Refinance

  • Appraisal Required
  • 97.75% Max Loan to Value
  • Closing Costs Can Be Rolled In
  • 80% Max Loan to for Cash-out
  • Cash-out Option Available
  • County Loan Limits Apply

FHA Streamline Refinance

  • FHA to FHA
  • No Income Qualification
  • No Appraisal Required
  • Closing Costs Cannot Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Arizona Conventional Refinance Loans

Conventional Refinance Mortgage Lender

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan. This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.  

  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Arizona Native American Refinance Loans

Native American Refinance Mortgage Lender

HUD 184 Refinance Home Loans can streamline rate & term, equity cash-out, or Rehabilitation of current residence.

Cash-Out or Renovation

  • Appraisal Required
  • 97.75% Max LTV for Rehab
  • 85% Max LTV for Cash-out
  • County Loan Limits Apply

Streamline Refinance

  • HUD 184 to HUD 184
  • No Income Qualification
  • No Appraisal Required
  • No Mortgage Lates in Last Year

Arizona USDA Refinance home Loans

USDA Refinance Mortgage Lender

USDA Loans Can only be USDA to USDA, meaning you must have a current USDA loan to refinance the loan either as a rate and term or cash-out or renovation.

USDA Non Streamlined

  • Appraisal / Income Documents 
  • Max LTV Equal to Appraisal
  • Closing Costs Can Be Rolled In
  • County Loan Limits Apply

USDA Streamline Refinance

  • No Appraisal / Income Docs Required
  • Closing Costs Can Be Rolled In
  • No Lates on Mortgage in Last Year
  • Payment Must Drop on Fixed Rates

Arizona Reverse Mortgage Refinance

Reverse Refinance Mortgage Lender

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • Primary Residence Only
  • 62 Years or Older
  • Required Hud Counseling
  • Homeowners Insurance Required
  • Must Continue to Pay Taxes
  • Meet Required Equity Values
Arizona Mortgage Programs

Arizona Home Purchase

Thinking of Buying an Arizona Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Arizona renovation home loans

Looking to Rehab an Arizona Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Arizona FHA Home Loans

Great for 1st Time Arizona Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Arizona VA Home Loans

100% Financing for Arizona Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Arizona Conventional Home Loans

Flexibility for Arizona Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Arizona Jumbo Home Loans

Arizona Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Arizona USDA Home Loans

100% Arizona Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Arizona Native American Home Loans

Arizona HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Arizona Manufactured Home Loans

Great Alternative Arizona Housing

Arizona reverse mortgages

Your Arizona Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Arizona Non QM Home Loans

Making Arizona Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Arizona One Time Close mortgages

Build Your Arizona Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Arizona Refinance Mortgage Loans

Arizona Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Arizona Cash-out Home mortgages

Arizona Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Arizona Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Native American Lending
Manufactured Housing

Arizona Mortgage Reviews

Arizona Cities

Phoenix Home Loans

Tucson Home Loans

Mesa Home Loans

Chandler Home Loans

Gilbert Home Loans

Glendale Home Loans

scottsdale Home Loans

Peoria Home Loans

Tempe Home Loans

Surprise Home Loans

Prescott Home Loans

Flagstaff Home Loans

Surprise Home Loans

Buckeye Home Loans

Goodyear Home Loans

Yuma Home Loans

Avondale Home Loans

queen creek Home Loans

Flagstaff Home Loans

Maricopa Home Loans

Casa Grande Home Loans

Lake Havasu City Home Loans

Marana Home Loans

Prescott Valley Home Loans

Oro Valley Home Loans

Prescott Home Loans

Sierra Vista Home Loans

Accessibility Toolbar