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

MetricBefore RecastAfter RecastDifference
Loan Balance$2,500,000$2,000,000$500,000
Monthly Payment$22,636$22,636$0
Remaining Term18 years11y 7m6y 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