A good fit if…
- Rates are meaningfully lower than your current rate
- You have FHA mortgage insurance and enough equity to drop it
- You want cash for a remodel, a pool, or high-interest debt
- You want to pay your home off sooner
Find your break-even point first
Every refinance has costs. Your break-even point is how many months of savings it takes to pay those costs back. If you plan to stay in the home well past that point, the refinance usually makes sense. The break-even calculator will give you a quick read, and Pete will check it against real quotes.
Types of refinance
- Rate-and-term: a new rate, a new loan length, or both.
- Cash-out: a new, larger loan that pays off the old one and gives you the difference in cash.
- FHA streamline: FHA-to-FHA with reduced paperwork and usually no appraisal.
- VA IRRRL: the VA’s streamline, which has to pay for itself within 36 months.
- FHA to conventional: a common way to get rid of FHA mortgage insurance once you have enough equity.
Cash-out, used wisely
Arizona home values have created a lot of equity. A cash-out refinance can fund a remodel, a pool, a down payment on a rental, or pay off high-interest debt. It also resets your loan and turns unsecured debt into debt secured by your home, so Pete will walk through the trade-offs and compare it with a home equity line of credit before you decide.
Pete keeps watching after closing
Pete checks in with past clients regularly to see whether their loan still fits. When rates move enough to make a refinance worth it, you’ll hear from him, not a stranger who bought your contact information.
Run the numbers
Common questions
How soon can I refinance after buying?
Rate-and-term refinances can happen fairly quickly, but some loan types have waiting periods, and cash-out refinances usually require you to have owned the home for a while. Pete can check the timing for your loan.
Does refinancing hurt my credit?
There’s a small, temporary dip from the credit check and new account. For most people it recovers within months, and multiple mortgage inquiries in a short window count as one.
Is a cash-out refinance or a HELOC better?
If your current rate is low, a HELOC often makes more sense because you keep your first mortgage. If your current rate is high, a cash-out refinance can lower it and give you cash at the same time.
This page is general information, not a loan offer, rate quote or commitment to lend. Program guidelines, loan limits and assistance programs change; figures shown are as of 2026. Eligibility, down payment and terms depend on your credit, income, property and the program. Ask Pete for current details.