Skip to main content

To recast a mortgage or just add more principal with each payment?

As a seller who just closed on a house, we have some extra to throw at our new house we're currently living in. My loan officer mentioned that we could recast after 90 days after closing for $500 which would decrease our monthly payment of $1900. 30 year, 2.5% interest rate right now should not change after recast. Should we just put more towards principal each month instead?

submitted by /u/techmakin
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/pde6y4/to_recast_a_mortgage_or_just_add_more_principal/

Comments