Mortgage Recast Calculator
See what happens when you apply a lump sum to principal and then re-amortize the loan. Keeps the same rate and payoff date, but lowers your monthly payment. Compared here against simply prepaying the same amount without recasting.
Your numbers
How far into the loan you are today
Leave at 0 to calculate from the schedule
Most servicers charge $150 to $500
After the recast
Same rate of 6.5%, same remaining term of 27 years, re-amortized over a lower balance.
Loan snapshot
Break-even on the recast fee
At $328 per month of savings, the $350 fee pays for itself in about 2 months.
Recast vs Prepay-Only
Two ways to use the same $50,000 lump sum. Recast lowers the payment but keeps the original payoff. Prepay-only keeps the payment and shortens the loan.
Prepay-only saves about $118,604 more in interest, but the monthly payment stays the same. Recast is for monthly cash flow, prepay-only is for a faster payoff.
Interest over the remaining life
Not sure whether to recast, prepay, or refinance?
Talk it through with a loan officer to compare the three using your actual loan, your servicer's recast policy, and your goals. Free, no pressure.
Discuss Your ScenarioWant a plain-English walkthrough? Refinance vs recast decision guide.
More advanced & tools calculators
Amortization Calculator
See exactly how each payment splits between principal and interest, with a full month-by-month schedule.
Open calculatorPrepayment Calculator
Mix lump sum, extra monthly, and biweekly payments. See how many months and how much interest you save.
Open calculator15 vs 30 Year Comparison
Compare a 15-year and a 30-year mortgage side by side. See the monthly difference and lifetime interest.
Open calculatorPoints & Rate Buydown Calculator
Model discount points or a temporary 2-1 / 3-2-1 buydown. Break-even, monthly savings, and total subsidy.
Open calculatorWas this helpful?
Quick thumbs up or down — it helps us know what to improve.
Want the story behind the numbers?
More advanced & tools calculators
Amortization Calculator
See exactly how each payment splits between principal and interest, with a full month-by-month schedule.
Open calculatorPrepayment Calculator
Mix lump sum, extra monthly, and biweekly payments. See how many months and how much interest you save.
Open calculator15 vs 30 Year Comparison
Compare a 15-year and a 30-year mortgage side by side. See the monthly difference and lifetime interest.
Open calculatorPoints & Rate Buydown Calculator
Model discount points or a temporary 2-1 / 3-2-1 buydown. Break-even, monthly savings, and total subsidy.
Open calculator