Refinancing

Is Mortgage Refinance Right For You?

A Refinance Loan replaces your current mortgage with a new one.
It may be a good option for you if:

  • You want a lower interest rate
  • You want a different loan term (number of years)
  • You want a lower monthly payment
  • You want cash from the equity in your home

Refinance Loan benefits and features:

Note: Benefits and features vary depending on your circumstances and the terms of your Refinance.

  • Interest rate and monthly payment. You may be able to get a lower rate.
    Depending on the length of your loan term, a lower rate may decrease or
    increase your monthly payment.
  • Loan term and monthly payment.
    • Decreasing the length of the loan term usually results in a lower interest rate but a higher monthly payment. You’ll likely pay off your mortgage sooner because you’re paying more principal each month. The total interest you pay throughout the shorter mortgage term will typically be less.
    • Increasing the loan term usually results in a lower monthly payment, but the total amount of interest you pay throughout the longer term will typically be more.
  • Cash from the equity in your home. If you refinance for an amount greater
    than what you owe on your home, you can receive the difference in a cash
    payment, which you may use for home improvements to increase the value of
    your home or in any way you choose.
  • Convert from an Adjustable-Rate Mortgage (ARM) to a Fixed-Rate
    Mortgage, or get an ARM with better terms.
  • Other requirements and conditions apply.

Contact a loan officer today, and we can help you break it down to see if this is a good option for you!

Academy Mortgage Yuma - Shara Castro

Shara Castro

Loan Officer

NMLS 2188389

State Lic: LO-1028017

PHONE: (928) 247-9089 X33940

PHONE: (928) 366-1654

Academy Mortgage Yuma - Robert Wright

Robert Wright

Loan Officer

NMLS# 1989817

State Lic: LO-1012538

PHONE: (928) 247-9089 X33917

PHONE: (928) 366-1637

Rosa Castillo

Senior Loan Officer

NMLS# 799138

State Lic: LO-0944489

PHONE: (928)920-2831

PHONE: (928) 247-9089

Bill Craft

Sales Manager

NMLS 1621885

State Lic: LO-0942496

PHONE: (928)366-1639

PHONE: (928) 247-9089

Derek Egeberg

Branch Manager

NMLS 180899

State Lic: AZ LO-0915245, TN 236104

PHONE: (928)246-0422

PHONE: (928) 247-9089

Ray Ochoa

Senior Loan Officer

NMLS 214114

State Lic: AZ LO-0915882, TN 238287

PHONE: (928)246-5937

PHONE: (928) 247-9089

I Want to Refinance!

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