Mortgage Recast Calculator

A mortgage recast re-amortizes the balance left after a lump sum toward principal over the same remaining term at the same rate, so the payoff date stays put and the monthly payment falls instead. Enter the balance, rate, time left and lump sum to see the new payment, the interest saved and how long the servicer fee takes to recover. A second action works backwards from the payment you want to the lump sum that reaches it. Each result also shows the alternative of keeping your payment and letting the loan finish early instead. Not every loan can be recast, and FHA, VA and USDA loans generally cannot.