Tag Archive for: mortgage recasting

What Is A Mortgage Recast?

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Have you ever thought about ways to reduce your monthly mortgage payments without the hassle of refinancing? A mortgage recast might be the perfect solution. This straightforward process allows you to lower your payments by making a lump-sum payment toward your loan’s principal balance. Your lender then recalculates your payments based on the reduced balance, giving you more breathing room in your monthly budget without changing your interest rate or loan term.Read More

Recasting or Re-Amortizing a Mortgage – Misconceptions & No Guarantees!

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Now that our bridge loans are becoming so popular, we are having a lot of conversations with borrowers about recasting. Recasting = Re-amortization of Mortgage After a Lump Sum Paydown […]Read More

Re-Casting or Re-Amortizing Mortgages When They’re Paid Down

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Most lenders allow borrowers to re-cast or re-amortize their mortgages when they pay down the principal balance. For example, Bob might have a $600,000 mortgage at 3.5% with payments of […]Read More

Recasting Mortgage By Paying Down Large Portion of Principal

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Mortgage recasting lets you reduce your payment by paying down principal—without changing your rate or term. Here’s how and when it can help.Read More