Mortgage Recast Calculator
Lower your monthly payment by re-amortizing after a lump-sum payment — same rate, same term, no refinance needed.
New Monthly Payment
$1,417
reduced by recast
Monthly Savings
$193
vs $1,611 before
Total Interest Saved
$27,987
over remaining term
Net Savings After Fee
$27,637
fee breaks even in 2mo
Before vs After Recast
Before: monthly payment$1,611
After: monthly payment$1,417
Before: total interest$233,226
After: total interest$205,239
New loan balance$220,000
Recast vs refinance: A recast keeps your existing rate and remaining term — you just re-amortize a lower balance. No appraisal, no closing costs (beyond the small recast fee), no credit check. Best when you have a low rate you don't want to lose. Payoff date stays the same as before — the savings come purely from a lower monthly payment.
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Mortgage Recast Calculator results are estimates for educational and informational purposes only and do not constitute financial, tax, or legal advice. Actual outcomes will vary based on your individual circumstances. LoanPal is not a licensed financial advisor. Read full disclaimer. Consult a qualified professional before making financial decisions.