Скачать или смотреть Best 3 Moves to Slash Your Mortgage 💸: Refinance, Recast, or Cash-In?

🏠💸 Are you staring at a mortgage rate that's much higher than the market? This guide breaks down the three smartest moves to save big: refinance, recast, or cash-in.

Summary:
When mortgage rates are high (7.6% in the example), decisive action beats passivity. A refinance replaces your current loan with a new one at a lower rate, typically yielding the largest lifetime savings, but it comes with closing costs and requires shopping across lenders to lock in the best deal, including low- or no-cost options to reduce upfront outlay. If you have $30,000 to deploy, you have three primary strategies:
1) Principal payment: apply the money directly to the principal; your monthly payment may stay the same, but the amortization schedule shortens and total interest paid declines.
2) Mortgage recast: apply the lump sum to the current loan and have the lender re-spread the remaining balance over the original term; monthly payments drop but the rate stays the same, which is rarely optimal when a meaningful rate drop is possible.
3) Cash-in refinance: apply the lump sum during the closing on a new, lower-rate loan; the funds reduce the principal of the new loan, so you benefit immediately from both a lower rate and a lower balance.

Strategic timing and decision framework:
If mortgage rates are above 6%, paying down debt or reducing the principal generally offers a guaranteed return that beats many investments, because avoiding a high interest rate is essentially a risk-free gain. The most efficient path, according to the article, is to combine a lower-rate refinance with a cash-in payment: coordinate with the lender to apply the lump sum toward the principal and any closing costs at settlement to maximize impact and minimize monthly debt service.

Bottom line:
For homeowners facing a high-rate mortgage, pursue a lower-rate refinance with a cash-in, rather than simply paying down the old loan. This approach delivers the fastest, largest reduction in monthly debt burden and total interest.

Related topics and tags: mortgage, refinance, recast, cash-in refinance, lump sum, principal payment, amortization, closing costs, mortgage rates, homeownership, personal finance, financial planning, debt payoff, real estate, mortgage strategy, home loan, lender shopping, strategic timing, investments vs debt payoff, 30k cash-in


00:00 Big Decision
00:24 Roadmap
00:46 Disclaimer
01:11 The Stakes
01:33 Act Now
02:15 Map It
02:54 3 Paths
03:32 Quick Compare
04:11 Facts Table
04:47 Shop Refi
05:36 Workflow
06:11 $30K Math
07:28 7.6% Pie
07:53 6.0% Pie
08:19 Timeline
08:56 Quiz 1
09:20 Answer 1
09:35 Quiz 2
09:59 Answer 2
10:11 Key Takeaways
10:42 Final Word
11:09 Wrap Up