Case Study: A Scottsdale Refinance Success Story
Published on October 27, 2025
Meet the Johnson family from Scottsdale, Arizona. Like many homeowners who bought a few years ago, they had built up significant equity in their home but were also dealing with high-interest credit card debt from unexpected expenses. Their goal was twofold: consolidate their debt into a single, lower-interest payment and finally fund their dream kitchen remodel.
The Challenge
The Johnsons had over $40,000 in credit card debt with an average interest rate of over 22%. The monthly payments were becoming a major strain on their budget, and they couldn't see a path to saving for their renovation project.
The Solution: A Strategic Cash-Out Refinance
After a thorough review of their financial situation, we determined a cash-out refinance was the perfect solution. We were able to refinance their original mortgage into a new loan at a competitive rate that was still much lower than their credit card rates. This new loan was large enough to pay off their existing mortgage, completely wipe out all of their high-interest credit card debt, and provide them with an additional $60,000 in cash for their kitchen remodel.
The Results
- Immediate Savings: By consolidating their debt, the Johnsons lowered their total monthly payments by over $700.
- Dream Kitchen Funded: They received the cash they needed to begin their renovation immediately.
- Simplified Finances: They now have a single, manageable mortgage payment instead of multiple high-interest bills.
This success story illustrates the power of using your home's equity strategically. If you're in a similar situation, a cash-out refinance could be the key to achieving your financial goals. Contact us today for a free analysis to see how much you could save.