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General Real Estate Investing
HomeForumsGeneral Real Estate InvestingShould I recast my mortgage loan?
Brandon Arnett's profile image
Brandon Arnett's profile image
Brandon Arnett
  • Rental Property Investor
  • from Las Vegas, NV
  • Member since Feb 14, 2019
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15
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2
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Brandon Arnett's profile image
Brandon Arnett's profile image
Brandon Arnett
  • Rental Property Investor
  • from Las Vegas, NV
  • Member since Feb 14, 2019
Connect
Brandon Arnett
  • Rental Property Investor
  • Las Vegas, NV
2
Votes |
15
Posts
General Real Estate Investing

Should I recast my mortgage loan?

Brandon Arnett
  • Rental Property Investor
  • Las Vegas, NV
Posted Jun 15 2024, 21:02

Hello,

I have a few rentals and need some input. 

I have one property that I bought last year for $475k

Current value is $520k

Interest rate 6.75%
loan amount is $352,000 (I put 25% down when I bought it)

Monthly P/I escrow is $2680

Rents for $2400


im debating putting 100k on the loan and recasting it. this will lower the payment roughly $650 a month and will make it cash flow. What do you think?


Las Vegas, Nevada
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