Frequently Asked Questions (FAQs)

If you have questions about your loan with RANLife Home Loans and would like to speak to someone, please give us a call at (877) 845-2854. Our team members are available Monday – Friday 8:00 am – 9:00 pm ET and Saturday 8:00 am – 12:00 pm ET to help you.


What the heck is a Mortgage Recast?

A mortgage recast is a onetime option available for Fannie Mae or Freddie Mac conventional loans allowing you to put a lump sum towards the principal balance on your mortgage. Along with this principal payment you can request that your lender recast the mortgage. Your interest rate and maturity date will remain the same, however, the loan will be re-amortized (a fancy way of saying your payment will be re-calculated) reducing your monthly principal payment.