Ready to Refinance Your Mortgage?
Refinancing when rates are low is a smart way to lower your monthly mortgage payment. If you’re paying for private mortgage insurance (PMI), refinancing might help you get rid of that cost—if you have enough equity in your home.
Lowering your interest rate and dropping PMI can save you money every month and over the life of your loan.
Refinancing isn’t just about lowering payments. You can also use your home’s equity to pay for repairs, big purchases, shorten your loan term, or combine debt.
We make refinancing quick and easy with our in-house team handling everything—from approval to closing. Even if your original mortgage wasn’t with Abundance Mortgage and Realty, you can still refinance with us!
Keep in mind, refinancing may increase your total interest costs over time.
Types of Refinance Loans
Rate-and-Term Refinance
This lets you change your loan’s interest rate or length (term). You might lower your monthly payment by getting a better rate, or pay off your loan faster by choosing a shorter term
Cash-Out Refinance
You refinance for more than you owe on your home and get the extra money in cash. Many people use this to pay for home repairs, debt, or other big expenses.
Cash-In Refinance
You pay money upfront to lower your loan balance. This can help you get a better interest rate or reduce your monthly payment.
FHA Streamline Refinance
If you already have an FHA loan, this option makes refinancing easier and faster with less paperwork and usually no home appraisal.
VA Interest Rate Reduction Refinance Loan (IRRRL)
This is a quick and simple refinance option for veterans and military borrowers with VA loans. It helps lower your interest rate or monthly payment with less hassle.
Jumbo Loan Refinance
For refinancing large loans that exceed conforming loan limits, often used for expensive homes. Jumbo refinances may have stricter requirements but can offer competitive rates.