What stays the same
The interest rate and original maturity date generally stay the same. This is not a refinance and usually does not create a new loan.
A common move-first strategy
A homeowner may buy before selling, then apply sale proceeds to the new conventional mortgage and request a recast.
Availability varies
Not all loans, investors, or servicers allow recasting. Minimum principal payments, seasoning, fees, and request procedures vary.
Confirm before relying on it
Get the recast rules from the lender or servicer before building the purchase plan around a future lower payment.
Your next step
Let’s talk about what this means for you.
You do not have to figure out every mortgage detail on your own. Tell me the goal and we can work through the questions.
Ask Marta a question