Want to lower your mortgage payment without refinancing? Let’s talk about a a recast #mortgage

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Want to lower your mortgage payment without refinancing? Let’s talk about a little-known option: a recast.

If you’ve got a lump sum (typically $10K or more) to put toward your mortgage, your lender might let you recast your loan. That means they’ll recalculate your monthly payment based on the new, lower balance—but your interest rate and loan term stay the same.

It’s a smart move if you’ve got extra cash and don’t want to go through the hassle (and cost) of refinancing.

Not sure if a recast or refinance is right for you? I’ll help you run the numbers and make the best call for your goals.
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