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Recast Mortgage Calculator: Lower Your Loan Payments Easily

"A Mortgage Recast Calculator helps homeowners estimate potential savings and new payment schedules after making a large principal payment."

Enter Your Loan Details Below

Fill in the fields and click Calculate — results appear instantly, no page reload.

Loan Details

Current Loan
$
Amount borrowed at loan start
%
Fixed rate on your mortgage
yrs
Total tenure (15, 20, 30 yrs)
EMIs made so far (36 = 3 yrs)
For calendar labels in table
1 = Jan … 12 = Dec
Recast Details
$
Extra principal you'll pay now
$
Lender one-time fee ($150–$500)

Your Recast Results

✓ Net saving: $5,949.93
EMI Before
$2,528.27
Balance $385,668.97
EMI After Recast
$2,200.49
New bal $335,668.97
Monthly Saving
$327.78
$3,933.33/year
Interest Saved
$56,199.93
13% reduction

Remaining Interest — Before vs. After

Without recast
$433,491.30
With recast
$377,291.37

Recast saves $56,199.93 (13%) over the remaining 324 months.

Loan Snapshot
Original loan$400,000.00
Rate / Term6.500% / 30yrs
Original EMI$2,528.27
Months paid36 (3y 0m)
Principal paid$399,999.96
Interest paid$76,686.80
Outstanding balance$385,668.97
Remaining27y 0m (324 months)
Recast Impact
Lump-sum paid$50,000.00
Recast fee$250.00
New balance$335,668.97
EMI before$2,528.27
EMI after$2,200.49
Monthly saving$327.78
Interest saved$56,199.93 (13%)
Net gain$5,949.93

Full Breakdown & Break-even

Total outflow, break-even months, and all detailed figures

Show ▼
Monthly rate0.541667%
Total interest — without recast$433,491.30
Total interest — with recast$377,291.37
Total outflow — without recast$819,159.48
Total outflow — with recast (inc. lump + fee)$763,208.76
Net financial gain$5,949.93
Break-even period154 months (12y 10m)
Annual saving$3,933.33/year

☰ Amortization Schedule

Month-by-month table — grouped by year with subtotals and calendar dates

Show Table ▼
Without Recast With Recast
Months 121–180 of 324 | Page 3/6
#DatePaymentPrincipalInterestBalance
YEAR 14  |  Principal: $10,384.45  Interest: $19,954.82  Total: $30,339.24
157May 2036$2,528.27$839.89$1,688.38$310,861.05
158Jun 2036$2,528.27$844.44$1,683.83$310,016.60
159Jul 2036$2,528.27$849.02$1,679.26$309,167.59
160Aug 2036$2,528.27$853.61$1,674.66$308,313.97
161Sep 2036$2,528.27$858.24$1,670.03$307,455.74
162Oct 2036$2,528.27$862.89$1,665.39$306,592.85
163Nov 2036$2,528.27$867.56$1,660.71$305,725.29
164Dec 2036$2,528.27$872.26$1,656.01$304,853.03
165Jan 2037$2,528.27$876.98$1,651.29$303,976.04
166Feb 2037$2,528.27$881.74$1,646.54$303,094.31
167Mar 2037$2,528.27$886.51$1,641.76$302,207.80
168Apr 2037$2,528.27$891.31$1,636.96$301,316.48
YEAR 15  |  Principal: $11,079.94  Interest: $19,259.37  Total: $30,339.24
169May 2037$2,528.27$896.14$1,632.13$300,420.34
170Jun 2037$2,528.27$901.00$1,627.28$299,519.35
171Jul 2037$2,528.27$905.88$1,622.40$298,613.47
172Aug 2037$2,528.27$910.78$1,617.49$297,702.69
173Sep 2037$2,528.27$915.72$1,612.56$296,786.97
174Oct 2037$2,528.27$920.68$1,607.60$295,866.30
175Nov 2037$2,528.27$925.66$1,602.61$294,940.64
176Dec 2037$2,528.27$930.68$1,597.60$294,009.96
177Jan 2038$2,528.27$935.72$1,592.55$293,074.24
178Feb 2038$2,528.27$940.79$1,587.49$292,133.45
179Mar 2038$2,528.27$945.88$1,582.39$291,187.57
180Apr 2038$2,528.27$951.01$1,577.27$290,236.56
YEAR 16  |  Principal: $11,821.97  Interest: $18,517.32  Total: $30,339.24
181May 2038$2,528.27$956.16$1,572.11$289,280.41
182Jun 2038$2,528.27$961.34$1,566.94$288,319.07
183Jul 2038$2,528.27$966.54$1,561.73$287,352.53
184Aug 2038$2,528.27$971.78$1,556.49$286,380.75
185Sep 2038$2,528.27$977.04$1,551.23$285,403.70
186Oct 2038$2,528.27$982.34$1,545.94$284,421.37
187Nov 2038$2,528.27$987.66$1,540.62$283,433.71
188Dec 2038$2,528.27$993.01$1,535.27$282,440.71
189Jan 2039$2,528.27$998.38$1,529.89$281,442.32
190Feb 2039$2,528.27$1,003.79$1,524.48$280,438.53
191Mar 2039$2,528.27$1,009.23$1,519.04$279,429.30
192Apr 2039$2,528.27$1,014.70$1,513.58$278,414.60
YEAR 17  |  Principal: $12,613.70  Interest: $17,725.55  Total: $30,339.24
193May 2039$2,528.27$1,020.19$1,508.08$277,394.41
194Jun 2039$2,528.27$1,025.72$1,502.55$276,368.69
195Jul 2039$2,528.27$1,031.28$1,497.00$275,337.42
196Aug 2039$2,528.27$1,036.86$1,491.41$274,300.55
197Sep 2039$2,528.27$1,042.48$1,485.79$273,258.08
198Oct 2039$2,528.27$1,048.12$1,480.15$272,209.95
199Nov 2039$2,528.27$1,053.80$1,474.47$271,156.15
200Dec 2039$2,528.27$1,059.51$1,468.76$270,096.64
201Jan 2040$2,528.27$1,065.25$1,463.02$269,031.39
202Feb 2040$2,528.27$1,071.02$1,457.25$267,960.37
203Mar 2040$2,528.27$1,076.82$1,451.45$266,883.55
204Apr 2040$2,528.27$1,082.65$1,445.62$265,800.90
YEAR 18  |  Principal: $13,458.47  Interest: $16,880.81  Total: $30,339.24
205May 2040$2,528.27$1,088.52$1,439.75$264,712.38
206Jun 2040$2,528.27$1,094.41$1,433.86$263,617.97
207Jul 2040$2,528.27$1,100.34$1,427.93$262,517.63
208Aug 2040$2,528.27$1,106.30$1,421.97$261,411.33
209Sep 2040$2,528.27$1,112.29$1,415.98$260,299.03
210Oct 2040$2,528.27$1,118.32$1,409.95$259,180.71
211Nov 2040$2,528.27$1,124.38$1,403.90$258,056.34
212Dec 2040$2,528.27$1,130.47$1,397.81$256,925.87
213Jan 2041$2,528.27$1,136.59$1,391.68$255,789.28
214Feb 2041$2,528.27$1,142.75$1,385.53$254,646.53
215Mar 2041$2,528.27$1,148.94$1,379.34$253,497.60
216Apr 2041$2,528.27$1,155.16$1,373.11$252,342.44
—Page 3 total$151,696.20$59,358.53$92,337.87—

Page 3 of 6  ·  5 years per page

Our mortgage recast calculator helps homeowners easily estimate their new, lower monthly payments after making a large lump sum payment toward their existing loan balance. Using a recast calculator, you can plan your mortgage strategy more effectively and understand how a one-time payment impacts your loan term and overall costs.

What is Mortgage Recast?

In banking, a mortgage is a borrower's loan to purchase land, a plot, a house, or other real estate. The Recast Mortgage is a process where large payments are made to reduce the principal amount, so the lender re-amortizes the loan with lower monthly repayments based on the new balance.

Mortgage Recast Calculator

Though the loan is recast, the interest doesn't change and remains fixed. The loan term also stays the same. FHA, USDA, and VA loans typically do not support standard recasting, though lenders may make exceptions. For more details, see the Consumer Financial Protection Bureau.

How a Mortgage Recast Works

The borrower pays a lump sum toward the principal. The lender then re-amortizes the remaining balance into new monthly payments over the same remaining term. The new schedule includes updated principal, interest, and balance for every month ahead.

How to Use This Calculator

Enter: original loan amount, interest rate, loan term, months already paid, lump-sum payment, and recast fee. The calculator instantly shows your new EMI, interest saved, break-even point, and a full month-by-month amortization table.

Example: $200,000 loan at 5% for 30 years = $1,074/month. After 10 years, recast $50,000 (fee $250). New balance $112,684 → new payment $744/month for the remaining 20 years.

Mortgage recast savings chart

Requirements

  • No government-backed loan (FHA, VA, USDA not eligible)
  • Must meet lender's minimum equity requirements
  • Minimum lump-sum amount (varies by lender)
  • Good payment history required

When is the Right Time to Recast?

Recasting works best when your interest rate is fixed or rising, you have a low credit score that would hurt refinancing rates, or you've received a windfall (bonus, inheritance, asset sale) and want to lower monthly payments without the approval process of a refinance.

Current U.S. Mortgage Rates (2026)

Loan TypeApprox. Rate
30-Year Fixed6.5% – 7.0%
15-Year Fixed5.7% – 6.2%
Refinance RatesSimilar (lender-dependent)

Rates change frequently based on inflation, Federal Reserve policies, and market demand.

Conclusion

Mortgage recasting lowers your monthly payments by applying a lump sum to the principal — keeping your rate and term unchanged. It's a smart, low-friction alternative to refinancing, especially when credit scores are low or rates are high. Use this calculator to see your exact numbers before approaching your lender.

Frequently Asked Questions

A Recast mortgage calculator helps homeowners estimate new monthly payments and total interest savings after making a lump sum payment towards their mortgage principal.
Recasting is the process of pre-paying a lump sum amount to the lender, which reduces the principal and gives a new, lower payment schedule.
When you recast, your lender charges a one-time administrative fee to redo your payment schedule. This typically falls between $150 and $500 — check with your lender for the exact amount.
No. The interest rate remains constant during recasting — only the monthly payment amount decreases due to the lower principal balance.
Government-backed loans — FHA, VA, and USDA — are generally not eligible for loan recasting.
Recasting is ideal when your interest rate is fixed or rising, your credit score is low (making refinancing expensive), or you've received a large sum you want to put toward your home without going through a full refinance process.