Mortgage Recast Calculator
Compare three scenarios side-by-side: do nothing, apply a lump sum without recasting, or recast.
Your Loan
Enter the current state of your mortgage.
Do Nothing
Lump Sum, Keep Payment Same
Recast
How the scenarios play out
Compare loan balance and cumulative interest paid over time.
Comparing the scenarios
A recast and a lump-sum-without-recast produce different outcomes. The summary below describes general characteristics of each — it is not a recommendation.
- • Lowers the required monthly payment.
- • Payoff date generally stays the same as the original remaining term.
- • Typically involves a small fee charged by the servicer.
- • Extra payments can still be made voluntarily afterward.
- • Shortens the payoff timeline.
- • Reduces total interest paid over the life of the loan.
- • The required monthly payment stays the same.
- • No recast fee.
Note on opportunity cost: money applied to the mortgage is no longer available for other uses such as investing, savings, or emergencies. Deciding between these scenarios depends on individual circumstances, risk tolerance, and goals — a qualified financial professional can help you evaluate the trade-offs for your situation.
General background on recasting(show)
- • Recasting is typically available for conventional conforming loans. Recast fees are often in the $0–$500 range, but vary by servicer. Ask your servicer whether they offer recasting and what their fee is.
- • FHA, VA, and USDA loans generally are not eligible for recasting; a refinance is typically the available path to a lower payment on those. Confirm with your servicer.
- • Lenders commonly require a minimum lump sum (often in the $5,000–$10,000 range), though specific amounts vary.
- • Loans typically need to be current, and many servicers require a seasoning period (often around 6–12 monthly payments) before a recast.
- • A recast does not change your interest rate. If current market rates are meaningfully lower than your loan's rate, a refinance may be worth exploring separately with a licensed mortgage professional.
The items above are general background only, not advice. Specific eligibility, fees, and requirements vary by lender and loan — confirm everything with your mortgage servicer.
Amortization schedules
Month-by-month breakdown of payment, principal, interest, and balance for each scenario. The condensed view shows the first 12 months, yearly snapshots, and the last 6 months.
| Month | Payment | Principal | Interest | Balance | Cum. Interest |
|---|---|---|---|---|---|
| 1 | $2,582.81 | $405.73 | $2,177.08 | $379,594.27 | $2,177.08 |
| 2 | $2,582.81 | $408.05 | $2,174.76 | $379,186.22 | $4,351.84 |
| 3 | $2,582.81 | $410.39 | $2,172.42 | $378,775.83 | $6,524.26 |
| 4 | $2,582.81 | $412.74 | $2,170.07 | $378,363.09 | $8,694.33 |
| 5 | $2,582.81 | $415.11 | $2,167.71 | $377,947.99 | $10,862.04 |
| 6 | $2,582.81 | $417.48 | $2,165.33 | $377,530.50 | $13,027.37 |
| 7 | $2,582.81 | $419.88 | $2,162.94 | $377,110.63 | $15,190.30 |
| 8 | $2,582.81 | $422.28 | $2,160.53 | $376,688.35 | $17,350.83 |
| 9 | $2,582.81 | $424.70 | $2,158.11 | $376,263.65 | $19,508.94 |
| 10 | $2,582.81 | $427.13 | $2,155.68 | $375,836.51 | $21,664.62 |
| 11 | $2,582.81 | $429.58 | $2,153.23 | $375,406.93 | $23,817.85 |
| 12 | $2,582.81 | $432.04 | $2,150.77 | $374,974.89 | $25,968.62 |
| 24 | $2,582.81 | $462.70 | $2,120.11 | $369,593.21 | $51,580.66 |
| 36 | $2,582.81 | $495.53 | $2,087.28 | $363,829.66 | $76,810.83 |
| 48 | $2,582.81 | $530.69 | $2,052.12 | $357,657.13 | $101,632.03 |
| 60 | $2,582.81 | $568.35 | $2,014.46 | $351,046.61 | $126,015.23 |
| 72 | $2,582.81 | $608.68 | $1,974.13 | $343,967.02 | $149,929.37 |
| 84 | $2,582.81 | $651.87 | $1,930.94 | $336,385.08 | $173,341.15 |
| 96 | $2,582.81 | $698.13 | $1,884.69 | $328,265.13 | $196,214.92 |
| 108 | $2,582.81 | $747.66 | $1,835.15 | $319,569.01 | $218,512.53 |
| 120 | $2,582.81 | $800.72 | $1,782.09 | $310,255.82 | $240,193.06 |
| 132 | $2,582.81 | $857.53 | $1,725.28 | $300,281.79 | $261,212.76 |
| 144 | $2,582.81 | $918.38 | $1,664.43 | $289,600.02 | $281,524.71 |
| 156 | $2,582.81 | $983.55 | $1,599.26 | $278,160.29 | $301,078.70 |
| 168 | $2,582.81 | $1,053.34 | $1,529.47 | $265,908.81 | $319,820.95 |
| 180 | $2,582.81 | $1,128.08 | $1,454.73 | $252,788.00 | $337,693.86 |
| 192 | $2,582.81 | $1,208.13 | $1,374.68 | $238,736.15 | $354,635.73 |
| 204 | $2,582.81 | $1,293.86 | $1,288.95 | $223,687.20 | $370,580.51 |
| 216 | $2,582.81 | $1,385.67 | $1,197.14 | $207,570.41 | $385,457.45 |
| 228 | $2,582.81 | $1,483.99 | $1,098.82 | $190,310.00 | $399,190.76 |
| 240 | $2,582.81 | $1,589.29 | $993.52 | $171,824.83 | $411,699.31 |
| 252 | $2,582.81 | $1,702.07 | $880.75 | $152,027.97 | $422,896.18 |
| 264 | $2,582.81 | $1,822.84 | $759.97 | $130,826.37 | $432,688.30 |
| 276 | $2,582.81 | $1,952.19 | $630.62 | $108,120.34 | $440,975.99 |
| 288 | $2,582.81 | $2,090.71 | $492.10 | $83,803.12 | $447,652.50 |
| 300 | $2,582.81 | $2,239.06 | $343.75 | $57,760.40 | $452,603.50 |
| 312 | $2,582.81 | $2,397.94 | $184.87 | $29,869.74 | $455,706.56 |
| 319 | $2,582.81 | $2,495.78 | $87.03 | $12,695.02 | $456,611.52 |
| 320 | $2,582.81 | $2,510.08 | $72.73 | $10,184.95 | $456,684.25 |
| 321 | $2,582.81 | $2,524.46 | $58.35 | $7,660.49 | $456,742.60 |
| 322 | $2,582.81 | $2,538.92 | $43.89 | $5,121.57 | $456,786.49 |
| 323 | $2,582.81 | $2,553.47 | $29.34 | $2,568.10 | $456,815.84 |
| 324 | $2,582.81 | $2,568.10 | $14.71 | $0.00 | $456,830.55 |
Estimates only. For educational purposes — not financial, tax, or legal advice. Recast eligibility, fees, and outcomes vary by lender. Confirm specifics with your mortgage servicer.
How a mortgage recast generally works
In a typical mortgage recast (sometimes called “re-amortization”), a borrower makes a one-time principal payment, the lender keeps the same interest rate and the same remaining loan term, and the lender recalculates the monthly payment based on the new lower balance. The interest rate and payoff date generally do not change. Specific policies vary by lender.
Recast fees are commonly in the $0 to $500 range, and lenders often require a minimum lump sum (commonly $5,000 to $10,000), that the loan be current, and a seasoning period before a recast. Conventional conforming loans are generally eligible for recasting; FHA, VA, and USDA loans generally are not. Confirm eligibility and requirements directly with your mortgage servicer.
Recast vs. refinance (general comparison)
A recast keeps the existing interest rate on the loan; a refinance replaces the loan with a new one, potentially at a different rate and term. When current market rates are lower than the loan's rate, a refinance may be worth considering; when current rates are higher, a recast is one of the tools some borrowers use to reduce their required monthly payment without a new loan. The right path depends on individual circumstances and should be reviewed with a licensed mortgage professional.
Frequently asked questions
The answers below are general background only and may not apply to every lender or loan. Always confirm specifics with your mortgage servicer before taking any action.
Can any mortgage be recast?
Not all loans are eligible. Conventional conforming loans (Fannie Mae and Freddie Mac) are generally recast-eligible. FHA, VA, and USDA loans generally are not. Jumbo and portfolio-loan eligibility depends on the specific lender. Confirm eligibility with your servicer before sending any lump sum.
How much does it cost?
Recast fees are commonly in the $0 to $500 range, though specific amounts vary by servicer. Some lenders waive the fee. Recasts generally do not involve closing costs, appraisals, or income verification, but policies vary — confirm with your lender.
What is the minimum lump sum?
Minimums commonly fall in the $5,000 to $10,000 range, and some lenders require the lump sum to be a certain percentage of the loan balance. Specific minimums vary — ask your servicer.
Does recasting affect my credit?
A recast is generally not a new loan and typically does not involve a credit check. Policies may vary by lender — confirm with your servicer.
Can I recast more than once?
Some lenders allow multiple recasts; others allow only one over the life of the loan. This is lender-specific — ask your servicer.