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Updated over 3 years ago on . Most recent reply

Mike Willis's profile image
Mike Willis's profile image
Mike Willis
  • Rental Property Investor
  • from Meridian, ID
  • Member since Mar 31, 2017
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User Stats

12
Posts
4
Votes
Mike Willis's profile image
Mike Willis's profile image
Mike Willis
  • Rental Property Investor
  • from Meridian, ID
  • Member since Mar 31, 2017
Connect
Mike Willis
  • Rental Property Investor
  • Meridian, ID
4
Votes |
12
Posts
Private Lending & Conventional Mortgage Advice

Recasting Loan on a Rental Property?

Mike Willis
  • Rental Property Investor
  • Meridian, ID
Posted

I have two rentals and contemplating on making a $10K towards the principle on each SFH and having the lender recast the loan. The recast is only $250 each property. Thoughts? I'm cash flowing $450 and $600 monthly, but was thinking about being risk adverse. (Also lowering my DTI ratio for when we buy house number 4). I understand I will be paying slightly more taxes on the cash flow, but is it a wise move?

Or...just apply these principal payments to my primary mortgage.

Thanks,

Michael 

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