FinancingIntermediate
What Is Mortgage Recast?
A mortgage recast is when a borrower makes a large lump-sum payment toward their loan principal, and the lender re-amortizes the remaining balance over the original term — lowering the monthly payment without changing the interest rate or requiring a full refinance.
Most useful for: Repeat Buyer · Homeowner
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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