Some conventional loans actually offer slightly better interest rates when buyers put less than 20% down.
Here’s the strategy you may want to consider:
• Buy with 5–15% down
• Lock in the lower interest rate
• After closing, recast the loan
A recast lets you put a lump sum toward the loan later, which can:
• Lower your payment
• Reduce the balance
• Remove mortgage insurance
Every situation is different, but understanding the options can change how buyers approach their purchase.
— If we haven’t met yet, I’m Richard Sarey, your go-to mortgage broker in Frisco TX
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