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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 181–240 of 324 | Page 4/6
#DatePaymentPrincipalInterestBalance
YEAR 19  |  Principal: $12,498.14  Interest: $13,907.80  Total: $26,405.88
217May 2041$2,200.49$1,010.85$1,189.65$218,616.69
218Jun 2041$2,200.49$1,016.32$1,184.17$217,600.37
219Jul 2041$2,200.49$1,021.83$1,178.67$216,578.54
220Aug 2041$2,200.49$1,027.36$1,173.13$215,551.18
221Sep 2041$2,200.49$1,032.93$1,167.57$214,518.26
222Oct 2041$2,200.49$1,038.52$1,161.97$213,479.74
223Nov 2041$2,200.49$1,044.15$1,156.35$212,435.59
224Dec 2041$2,200.49$1,049.80$1,150.69$211,385.79
225Jan 2042$2,200.49$1,055.49$1,145.01$210,330.30
226Feb 2042$2,200.49$1,061.21$1,139.29$209,269.10
227Mar 2042$2,200.49$1,066.95$1,133.54$208,202.14
228Apr 2042$2,200.49$1,072.73$1,127.76$207,129.41
YEAR 20  |  Principal: $13,335.16  Interest: $13,070.80  Total: $26,405.88
229May 2042$2,200.49$1,078.54$1,121.95$206,050.87
230Jun 2042$2,200.49$1,084.39$1,116.11$204,966.48
231Jul 2042$2,200.49$1,090.26$1,110.24$203,876.22
232Aug 2042$2,200.49$1,096.17$1,104.33$202,780.06
233Sep 2042$2,200.49$1,102.10$1,098.39$201,677.95
234Oct 2042$2,200.49$1,108.07$1,092.42$200,569.88
235Nov 2042$2,200.49$1,114.07$1,086.42$199,455.81
236Dec 2042$2,200.49$1,120.11$1,080.39$198,335.70
237Jan 2043$2,200.49$1,126.18$1,074.32$197,209.52
238Feb 2043$2,200.49$1,132.28$1,068.22$196,077.24
239Mar 2043$2,200.49$1,138.41$1,062.09$194,938.83
240Apr 2043$2,200.49$1,144.58$1,055.92$193,794.26
YEAR 21  |  Principal: $14,228.24  Interest: $12,177.71  Total: $26,405.88
241May 2043$2,200.49$1,150.78$1,049.72$192,643.48
242Jun 2043$2,200.49$1,157.01$1,043.49$191,486.47
243Jul 2043$2,200.49$1,163.28$1,037.22$190,323.20
244Aug 2043$2,200.49$1,169.58$1,030.92$189,153.62
245Sep 2043$2,200.49$1,175.91$1,024.58$187,977.71
246Oct 2043$2,200.49$1,182.28$1,018.21$186,795.43
247Nov 2043$2,200.49$1,188.69$1,011.81$185,606.74
248Dec 2043$2,200.49$1,195.12$1,005.37$184,411.62
249Jan 2044$2,200.49$1,201.60$998.90$183,210.02
250Feb 2044$2,200.49$1,208.11$992.39$182,001.91
251Mar 2044$2,200.49$1,214.65$985.84$180,787.26
252Apr 2044$2,200.49$1,221.23$979.26$179,566.03
YEAR 22  |  Principal: $15,181.13  Interest: $11,224.82  Total: $26,405.88
253May 2044$2,200.49$1,227.85$972.65$178,338.18
254Jun 2044$2,200.49$1,234.50$966.00$177,103.69
255Jul 2044$2,200.49$1,241.18$959.31$175,862.50
256Aug 2044$2,200.49$1,247.91$952.59$174,614.60
257Sep 2044$2,200.49$1,254.67$945.83$173,359.93
258Oct 2044$2,200.49$1,261.46$939.03$172,098.47
259Nov 2044$2,200.49$1,268.29$932.20$170,830.18
260Dec 2044$2,200.49$1,275.16$925.33$169,555.01
261Jan 2045$2,200.49$1,282.07$918.42$168,272.94
262Feb 2045$2,200.49$1,289.02$911.48$166,983.92
263Mar 2045$2,200.49$1,296.00$904.50$165,687.93
264Apr 2045$2,200.49$1,303.02$897.48$164,384.91
YEAR 23  |  Principal: $16,197.80  Interest: $10,208.10  Total: $26,405.88
265May 2045$2,200.49$1,310.08$890.42$163,074.83
266Jun 2045$2,200.49$1,317.17$883.32$161,757.66
267Jul 2045$2,200.49$1,324.31$876.19$160,433.35
268Aug 2045$2,200.49$1,331.48$869.01$159,101.87
269Sep 2045$2,200.49$1,338.69$861.80$157,763.18
270Oct 2045$2,200.49$1,345.94$854.55$156,417.23
271Nov 2045$2,200.49$1,353.23$847.26$155,064.00
272Dec 2045$2,200.49$1,360.56$839.93$153,703.43
273Jan 2046$2,200.49$1,367.93$832.56$152,335.50
274Feb 2046$2,200.49$1,375.34$825.15$150,960.16
275Mar 2046$2,200.49$1,382.79$817.70$149,577.36
276Apr 2046$2,200.49$1,390.28$810.21$148,187.08
—Page 4 total$132,029.40$71,440.47$60,589.23—

Page 4 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.