Recast Calculator
Calculate how a lump sum payment can reduce monthly payment or loan term through recasting.
Mortgage Recast Calculator
Calculate how a lump sum payment can reduce your monthly payment or loan term through mortgage recasting
$
$
20.0% of balance
$
Time Saved
6y 5m
Pay off your loan 6y 5m earlier
New Balance
$2,000,000
After lump sum
Interest Savings
$1,211,768
Over loan life
Total Savings
$1,211,768
Including fees
Payoff Date
140
months remaining
Before & After Comparison
| Metric | Before Recast | After Recast | Difference |
|---|---|---|---|
| Loan Balance | $2,500,000 | $2,000,000 | $500,000 |
| Monthly Payment | $22,636 | $22,636 | $0 |
| Remaining Term | 18 years | 11y 7m | 6y 5m |
| Total Interest | $2,389,470 | $1,152,702 | $1,236,768 |
| Total Cost | $4,889,470 | $3,677,702 | $1,211,768 |
Cost Comparison
Balance Over Time
Recast Benefits Analysis
Financial Impact
Lump Sum Payment:$500,000
Recast Fee:$25,000
Interest Saved:$1,211,768
Net Savings:$1,211,768
Key Metrics
Time Saved:6y 5m
New Term:11y 7m
Same Payment:$22,636
ROI on Lump Sum:230.8%
What is Mortgage Recasting?
Mortgage recasting, also called re-amortization, allows you to make a lump-sum payment toward your principal and have the loan re-amortized with the new balance. This reduces your monthly payment while keeping the same interest rate and term (or optionally shortening the term).
✓ Advantages:
- Lower monthly payments
- Keep your current interest rate
- No credit check required
- Lower fees than refinancing
- Reduce total interest paid
âš Considerations:
- Not all lenders offer recasting
- Minimum lump sum required (typically $10,000+)
- Processing fee applies
- Won't lower interest rate
- Not available for FHA/VA loans