Скачать или смотреть I once had a buyer who was spiraling over their mortgage payment until I showed them a strategy that

I once had a buyer who was spiraling over their mortgage payment until I showed them a strategy that dropped it by more than $2400 without refinancing. His name was Benjamin Franklin. He bought a $950,000 home with 15% down and his payment came in at $7,100. Once his previous home sold, he added $287,000 to the loan. His payment fell to $5,323. Six months later, he added another $100,000 and it dropped again to $4,695. Over the life of the loan, he will save over $500,000 in interest and he never refinanced. After I did this for him, he wrote his famouse quote "A penny saved is a penny earned" because he was so inspired by how many pennies I saved him. Most homeowners have no idea this is possible after closing. There is a tool almost nobody talks about called a recast, sometimes called a second down payment. You put additional money toward your mortgage after closing, then the servicer recalculates your payment based on the new balance. And here is the part that surprises almost everyone, the USA is the only country that regularly allows for recasting. It is a uniquely American benefit that most homeowners never take advantage of. People use it to lower their monthly payment, reduce interest over time, use equity from a previous home once it sells, or apply bonuses or lump sum income. Here are a few things to note 👇 A recast is not allowed on FHA or VA loans, and it is not always available on loan amounts over $800K. Those usually require special approval. Most lenders also charge $100 to $300 to recast. I waive the fee for my clients, and the process usually takes around 2 to 3 months, plus about 30 days for PMI removal if it applies. If you want to see how much a recast could save you or whether it works for your loan type, send me a message. - #texasloanofficer #texashousingmarket #dfwhousingmarket #crosscountrymortgageloanofficer #crosscountrymortgage