This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

another single family home?

A client of mine recently renovated a mobile home in Tempe, and it's become a surpisingly lucrative rental.

Positive Home Value Growth ForecastWhile the pace of home value appreciation is expected to moderate, Zillow forecasts a 2.8% increase in Buffalo’s home values for 2025, indicating continued market strength.In summary, Buffalo’s combination of strong job growth, relative affordability, limited housing inventory, strategic location, and positive home value forecasts solidify its status as the nation’s hottest housing market for 2025.

I have helped dozens of BP members purchase and sell STR homes near Disney.

The area has attracted a lot of new young professionals with their work from home marketing that gives $10,000 to qualified families to help them establish themselves in the area.

What if, upon an imminent snowstorm, Home Depot began charging $200 for a snow shovel, just because they could? 

But I purchased land in cash and leveraged it to build a new construction stick built home.

How about the increased home insurance cost for a landlord policy?