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If you are buying your NEW home FIRST and then selling your current home after you move into the new house; then let's schedule a call to discuss how a Mortgage Recast can benefit you
In most cases, you'll need to make 1 or 2 mortgage payments (of the new house mortgage), and you'll request the Mortgage recast application, upon approval then "apply your principal" to affect your mortgage payment. "Lowering it".
In many recent client situations I've just helped; they financed 95% on the new home and then when the sold they've applied $100,000, 200,000 or more to lower the loan and lower the mortgage payment, and eliminated the PMI they started with. Fact: ** the only way to remove PMI when you start with PMI is a mortgage recast or you'd have to wait for 2-5 waiting period" and specific equity position and additional criteria.
Who you work with Matters!
Your Home: The Foundation of Your Financial Success
Any questions, have a scenario, ready to start your pre-approval, please reach out to me AND Check out my website and resources:
http://www.michelleyourloanranger.com
Follow me for more tips on Instagram and Tik Tok @michelleyourloanranger
“YOUR Loan Ranger” of Mortgages; Making Loans Happen!
Michelle Mathews-Kalinock
Sr Loan Officer | Mortgage Advisor NMLS 195916 Branch 2476844 CMG Home Loans 1820
128 Lubrano Dr Ste 201 Annapolis MD 21401
reginald h
reginald a hughley
hail a
anas a
anas abdulrazzaq
jacob r
christopher e
michael w
shannon wright