Recast or Investment?

[Shawn Saylors]

Hi Everyone! It is has almost been a year since last time I was able to post. Previously I was debating putting money down on an investment or paying down student loans and I'm excited to say by putting in hard work and nose to the grind, I was able to pay off six figures in student loans this past year and am debt free!!!

My spouse and I are considering our next move as we have one investment property currently and are debating to do a mortgage recast on the investment (Processing Fee= $250, $10k minimum payment) to lower our monthly mortgage and increase our cash flow or continue to save money and put it down for a conventional mortgage on new investment property. Does anyone have any experience in recasting? Thank you in advance for all of your feedback!