@the_one_broker · Christian Bachelder | One Brokerage
Saved 2026-05-15 · Posted 2023-08-18 · Status: New
Little loan hack for you guys 😏
A breakdown of how making a bulk payment within the first 60 days can benefit you on your homes mortgage 🏠 💰
Sometimes doing things in bulk is better 🤷🏻♂️
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Comments (14)
The mortgage insurance going away is not due to a “bulk” amount given in general. It’s due to now having 20% equity into the home. It goes away after 20%… so someone can do a “bulk” amount of money after a couple months and if it’s 17-18% it won’t quality. Should probably mention that
@edwardcollins_upleveled csn confirm this?!?!
The difference in price is .125 points. NOT .125% IN RATE! So instead of doing all this nonsense which might not even work if your servicer doesn’t allow it, you could pay $625 in discount points and get the same rate at 20% down assuming a $500k loan amount.
$200k would be $250
$300k would be $375
$400k would be $500…you get the point.
For everyone saying you don't get better pricing at 5% down than 20% you're technically correct. At the time of this video Fannie and Freddie made massive changes to LLPAs (loan level pricing adjustments) and there was effectively a "glitch" where pricing for 5% down was IN FACT better than 20% down. This is no longer the case, however you can still recast and it's an effective tool for people who inherit money or sell their old home and get the funds from that to put into their new home. Hope this helps! 💪🏼
This won’t work on a FHA loan on Conventional Loan
👏
Dude you are smokin something
Whoa excellent, all I need is another 15% 🥲🆘
@edwardcollins_upleveled
Need to speak with this y
Im looking to collaborate with Mortage partners. I sell residential Solar Panels virtually. The average commission is 10k but ranges from 3-40k. If you send me a homeowner referral I’ll split the commission with you 50/50 ☀️ 💵
Only works for conventional loans
Can this be done in Canada and USA or just US?
Many MI companies will require at least 24 payments before MI can be removed. So people are stuck making mi payments even after recast. This is poor advice in my opinion. Check your MI guides before posting these types of messages out to the world.