Recast or wait until sale of starter home? I’ll try to summarize relevant info- partner and I recently moved out of state to accept new job offers. We have moved from a LCOL to MCOL area. We have already moved- found a home we love in a nice area. We bought last November with 5% down, sale price was $390k, interest rate 5.99%. Current PITI payment is $2800 Our old house has been on the …

Should we recast our mortgage or pay it off sooner? In July 2023 we purchased a home with a $430,000 mortgage at 15% down and a 6.5% interest rate. We sold our home and planned to use the $100,000 gross from the sale to put towards our mortgage balance immediately, and have our payment recast. Our interest rate would not change; they would just spread the new balance across the remaining life of …