Our Mortgage Services
Refinancing your home
Refinance: A Smarter Approach to Managing Your Mortgage
Refinancing your home can be a strategic financial decision — whether you’re looking to reduce your interest rate, manage debt more effectively, or access funds for personal or business needs. At ABA Mortgages, we guide you through every step of the refinancing process, ensuring you understand the benefits, costs, and available options before making a commitment.
Why Homeowners Choose to Refinance
Secure a Better Interest Rate
If market rates have dropped since you obtained your current mortgage, refinancing may offer long-term savings — even after accounting for potential penalties.
Consolidate Debt
High-interest credit cards, loans, or lines of credit can be rolled into your mortgage, giving you one monthly payment at a lower interest rate.
Access Home Equity
Refinancing allows you to access equity built in your home for:
- Renovations or repairs
- Educational expenses
- Investments or major purchases
- Emergency reserves or unexpected costs
- Starting or funding a business
You can refinance up to 80% of your home’s appraised value, providing access to a significant portion of your equity while maintaining a responsible buffer.
Alternative Option: Second Mortgage
If your current mortgage rate is significantly lower than today’s offerings, a second mortgage could provide the financing you need without disturbing your existing terms. This option allows you to retain your current low rate while still accessing equity when needed.
Making the Right Financial Choice
Refinancing can support long-term goals — but only when the decision is well-informed. We’ll assess your current mortgage, run the numbers, and present the most suitable options based on your needs and timeline.
Ready to Refinance your home?
Contact Anoop Balakrishnan at ABA Mortgages today to schedule a personalized consultation and determine whether refinancing is the right fit for your financial goals.