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
₹20,00,000
After lump sum
Interest Savings
₹12,11,768
Over loan life
Total Savings
₹12,11,768
Including fees
Payoff Date
140
months remaining
Before & After Comparison
| Metric | Before Recast | After Recast | Difference |
|---|---|---|---|
| Loan Balance | ₹25,00,000 | ₹20,00,000 | ₹5,00,000 |
| Monthly Payment | ₹22,636 | ₹22,636 | ₹0 |
| Remaining Term | 18 years | 11y 7m | 6y 5m |
| Total Interest | ₹23,89,470 | ₹11,52,702 | ₹12,36,768 |
| Total Cost | ₹48,89,470 | ₹36,77,702 | ₹12,11,768 |
Cost Comparison
Balance Over Time
Recast Benefits Analysis
Financial Impact
Lump Sum Payment:₹5,00,000
Recast Fee:₹25,000
Interest Saved:₹12,11,768
Net Savings:₹12,11,768
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
⚠ Considerations:
- Not all lenders offer recasting
- Minimum lump sum required (typically ₹100,000+)
- Processing fee applies
- Won't lower interest rate
- Not available for FHA/VA loans