The Arizona Mortgage Guy (520) 225-0380

How To Save Money With An Arizona Refinance

Figuring out what your payment will be after you do your Arizona Refinance is actually a fairly simple task.

The first thing to do is get a rough idea of what interest rates in AZ are in the current market.  It’s important for you to know that interest rates not only move daily but move by the second.  So just having a general idea of what they are will be good enough to give you a rough idea of how much you can save by doing an Arizona Refinance.

You can feel free to give me a call any time at (520) 225-0380 and I can give you an idea range of where interest rates are at any time.  Or just fill out the comment form on the right and you can get them that way.

Or just take a look at some of the advertising in the paper.  Granted those will be stale rates, but should still be in the general current market range.

One thing to keep in mind is that when banks and mortgage companies are advertising interest rates they are ALWAYS advertising the low ball rate, the rate that shows the lowest number; but isn’t usually the cheapest rate.  So it’s a good idea to add a quarter to a half to those rates and then you’ll be able to get a better, more accurate idea of what your payment will be.

Then head on over to my web site at Tucson FHA Loans and on the upper part of the screen you’ll see a tab that reads FHA CALCULATOR.  Click that tab and just fill in the blanks.

Since FHA Loans do carry monthly mortgage insurance, make sure that the box for PMI has a 0.9 in it.

And there you have it.  You can change the loan sizes and the interest rates to get a really good idea of not only the monthly payment, but the amount of a loan you are comfortable with.

I hope you found this Arizona Home Loan tip useful and would love to hear your comments.

To find out if you qualify for an FHA Loan call (520) 225-0380 or click on the Get Started on FHA tab above and ask for a quote.  If you want to go ahead and get your application in, you can print out my application packet for FHA here.