Mortgage Recast Calculator

Calculate how much you can save by recasting your mortgage with a lump sum payment, without refinancing.

%
Current Monthly Payment
$1,667
New Monthly Payment
$1,390
Monthly Savings
$278
Total Interest Saved
$33,375
Break-Even Point
1 months (0.1 years)
Time to recover the recast fee through monthly savings

What is Mortgage Recasting?

Mortgage recasting is a process where you make a lump sum payment toward your mortgage principal and your lender recalculates your monthly payments based on the new, lower balance. Unlike refinancing:

  • Your interest rate stays the same
  • Your loan term remains unchanged
  • Fees are typically much lower ($150-$500)
  • No credit check or appraisal required
  • Lower monthly payments without extending your loan