Free Mortgage Recast Calculator (2026) – New Payment & Interest Saved

No sign-up required Penny-accurate results Full amortization table Instant calculation Free forever

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 to see your new payment, interest saved, and full amortization schedule.

Loan Details

Current Loan

Original Loan Amount

Amount borrowed at loan start

Annual Interest Rate

Fixed rate on your mortgage

Loan Term

yrs

Original loan term (15, 20, or 30 yrs)

Months Already Paid

Monthly payments made so far (36 = 3 yrs)

Loan Start Year

For calendar labels in table

Loan Start Month

1 = Jan … 12 = Dec

Recast Details

Lump-Sum Payment

Extra principal you'll pay now

Recast Fee

Lender one-time fee ($150–$500)

Your Recast Results

✓ Interest saved after fee: $55,949.93

Payment Before
$2,528.27
Balance $385,668.97
Payment 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 / Term	6.500% / 30yrs
Original payment	$2,528.27
Months paid	36 (3y 0m)
Principal paid	$399,999.96
Interest paid	$76,686.80
Outstanding balance	$385,668.97
Remaining	27y 0m (324 months)

Recast Impact

Lump-sum paid	$50,000.00
Recast fee	$250.00
New balance	$335,668.97
Payment before	$2,528.27
Payment after	$2,200.49
Monthly saving	$327.78
Interest saved	$56,199.93 (13%)
Net benefit (interest saved − fee)	$55,949.93

Full Breakdown & Fee Break-even

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

Show ▼

Monthly rate	0.541667%
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 benefit (interest saved − fee)	$55,949.93
Fee recovered in	1 month
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 1–60 of 324 | Page 1/6

#	Date	Payment	Principal	Interest	Balance
YEAR 4 \| Principal: $4,726.61 Interest: $21,679.31 Total: $26,405.88
37	Oct 2026	$2,200.49	$382.29	$1,818.21	$335,286.68
38	Nov 2026	$2,200.49	$384.36	$1,816.14	$334,902.32
39	Dec 2026	$2,200.49	$386.44	$1,814.05	$334,515.88
40	Jan 2027	$2,200.49	$388.53	$1,811.96	$334,127.35
41	Feb 2027	$2,200.49	$390.64	$1,809.86	$333,736.71
42	Mar 2027	$2,200.49	$392.75	$1,807.74	$333,343.96
43	Apr 2027	$2,200.49	$394.88	$1,805.61	$332,949.07
44	May 2027	$2,200.49	$397.02	$1,803.47	$332,552.05
45	Jun 2027	$2,200.49	$399.17	$1,801.32	$332,152.88
46	Jul 2027	$2,200.49	$401.33	$1,799.16	$331,751.55
47	Aug 2027	$2,200.49	$403.51	$1,796.99	$331,348.04
48	Sep 2027	$2,200.49	$405.69	$1,794.80	$330,942.35
YEAR 5 \| Principal: $5,043.16 Interest: $21,362.74 Total: $26,405.88
49	Oct 2027	$2,200.49	$407.89	$1,792.60	$330,534.46
50	Nov 2027	$2,200.49	$410.10	$1,790.39	$330,124.36
51	Dec 2027	$2,200.49	$412.32	$1,788.17	$329,712.04
52	Jan 2028	$2,200.49	$414.55	$1,785.94	$329,297.48
53	Feb 2028	$2,200.49	$416.80	$1,783.69	$328,880.68
54	Mar 2028	$2,200.49	$419.06	$1,781.44	$328,461.63
55	Apr 2028	$2,200.49	$421.33	$1,779.17	$328,040.30
56	May 2028	$2,200.49	$423.61	$1,776.88	$327,616.69
57	Jun 2028	$2,200.49	$425.90	$1,774.59	$327,190.79
58	Jul 2028	$2,200.49	$428.21	$1,772.28	$326,762.57
59	Aug 2028	$2,200.49	$430.53	$1,769.96	$326,332.04
60	Sep 2028	$2,200.49	$432.86	$1,767.63	$325,899.18
YEAR 6 \| Principal: $5,380.90 Interest: $21,025.03 Total: $26,405.88
61	Oct 2028	$2,200.49	$435.21	$1,765.29	$325,463.97
62	Nov 2028	$2,200.49	$437.56	$1,762.93	$325,026.41
63	Dec 2028	$2,200.49	$439.93	$1,760.56	$324,586.47
64	Jan 2029	$2,200.49	$442.32	$1,758.18	$324,144.16
65	Feb 2029	$2,200.49	$444.71	$1,755.78	$323,699.44
66	Mar 2029	$2,200.49	$447.12	$1,753.37	$323,252.32
67	Apr 2029	$2,200.49	$449.54	$1,750.95	$322,802.78
68	May 2029	$2,200.49	$451.98	$1,748.52	$322,350.80
69	Jun 2029	$2,200.49	$454.43	$1,746.07	$321,896.37
70	Jul 2029	$2,200.49	$456.89	$1,743.61	$321,439.48
71	Aug 2029	$2,200.49	$459.36	$1,741.13	$320,980.11
72	Sep 2029	$2,200.49	$461.85	$1,738.64	$320,518.26
YEAR 7 \| Principal: $5,741.29 Interest: $20,664.66 Total: $26,405.88
73	Oct 2029	$2,200.49	$464.35	$1,736.14	$320,053.91
74	Nov 2029	$2,200.49	$466.87	$1,733.63	$319,587.04
75	Dec 2029	$2,200.49	$469.40	$1,731.10	$319,117.64
76	Jan 2030	$2,200.49	$471.94	$1,728.55	$318,645.70
77	Feb 2030	$2,200.49	$474.50	$1,726.00	$318,171.20
78	Mar 2030	$2,200.49	$477.07	$1,723.43	$317,694.14
79	Apr 2030	$2,200.49	$479.65	$1,720.84	$317,214.48
80	May 2030	$2,200.49	$482.25	$1,718.25	$316,732.23
81	Jun 2030	$2,200.49	$484.86	$1,715.63	$316,247.37
82	Jul 2030	$2,200.49	$487.49	$1,713.01	$315,759.88
83	Aug 2030	$2,200.49	$490.13	$1,710.37	$315,269.76
84	Sep 2030	$2,200.49	$492.78	$1,707.71	$314,776.97
YEAR 8 \| Principal: $6,125.80 Interest: $20,280.15 Total: $26,405.88
85	Oct 2030	$2,200.49	$495.45	$1,705.04	$314,281.52
86	Nov 2030	$2,200.49	$498.14	$1,702.36	$313,783.38
87	Dec 2030	$2,200.49	$500.83	$1,699.66	$313,282.55
88	Jan 2031	$2,200.49	$503.55	$1,696.95	$312,779.00
89	Feb 2031	$2,200.49	$506.28	$1,694.22	$312,272.73
90	Mar 2031	$2,200.49	$509.02	$1,691.48	$311,763.71
91	Apr 2031	$2,200.49	$511.77	$1,688.72	$311,251.93
92	May 2031	$2,200.49	$514.55	$1,685.95	$310,737.39
93	Jun 2031	$2,200.49	$517.33	$1,683.16	$310,220.05
94	Jul 2031	$2,200.49	$520.14	$1,680.36	$309,699.92
95	Aug 2031	$2,200.49	$522.95	$1,677.54	$309,176.97
96	Sep 2031	$2,200.49	$525.79	$1,674.71	$308,651.18
—	Page 1 total	$132,029.40	$27,017.76	$105,011.89	—

1 2 3 … ›

Page 1 of 6 · 5 years per page

Last updated: October 5, 2026

This free mortgage recast calculator shows your new monthly payment after you pay a lump sum toward your principal and your lender re-amortizes the loan. It also shows the total interest you save, how quickly the recast fee pays for itself, and a full before-and-after amortization schedule.

What Is a Mortgage Recast?

A mortgage recast, also called re-amortization, happens when you pay a large lump sum toward your loan principal and ask your lender to recalculate your monthly payment based on the lower balance. Your interest rate and your remaining loan term stay exactly the same. Because the balance is smaller, the required monthly payment drops.

Recasting is mainly offered on conventional loans. Government-backed loans (FHA, VA, and USDA) generally cannot be recast. For more on prepaying and servicing your mortgage, see the Consumer Financial Protection Bureau.

How a Mortgage Recast Works

You pay a lump sum toward principal, usually along with a one-time recast fee. Your servicer then spreads the new, lower balance over the months remaining on your loan at the same interest rate. From then on you have a new, lower required payment, and you pay less total interest because you owe less.

How to Use This Calculator

Enter your original loan amount, interest rate, loan term, the number of monthly payments you have already made, your lump-sum payment, and the recast fee. The calculator shows your payment before and after the recast, the total interest saved, how many months it takes for the interest savings to cover the fee, and a month-by-month amortization schedule for both scenarios.

Example: A $200,000 loan at 5% for 30 years has a payment of about $1,074 a month. After 10 years the remaining balance is about $162,684. If you pay $50,000 toward principal and recast (with a $250 fee), the new balance is $112,684 and the payment drops to about $744 a month for the remaining 20 years.

Typical Recast Requirements

A conventional loan (FHA, VA, and USDA loans are generally not eligible)
A minimum lump-sum payment set by your lender, often $5,000 to $10,000
A one-time recast fee, commonly $150 to $500
Loan payments that are current and in good standing

Recast vs. Refinance vs. Extra Payments

	Recast	Refinance	Extra payments
Interest rate	Unchanged	New rate	Unchanged
Monthly payment	Lower	Depends on new rate and term	Unchanged
Payoff date	Unchanged	Resets	Earlier
Credit check	No	Yes	No
Typical cost	$150–$500 fee	Closing costs	None

When Does Recasting Make Sense?

Recasting is most useful when you have a lump sum available (for example from a bonus, inheritance, or the sale of a previous home) and you want a lower required monthly payment without changing your rate. It is especially attractive when current market rates are higher than your existing rate, because refinancing would mean giving up your lower rate. Since there is no new loan application, your credit score does not affect a recast. If your main goal is to pay the loan off sooner rather than lower the payment, extra principal payments may suit you better.

Before deciding, compare current rates from a reliable source such as Freddie Mac's weekly mortgage rate survey, and confirm your lender's recast rules, minimums, and fees.

Summary

A mortgage recast lowers your monthly payment by applying a lump sum to principal while keeping your rate and payoff date unchanged. Use the calculator above to see your exact numbers before you contact your lender.

This calculator provides estimates for informational purposes only and is not financial advice. Your lender's figures may differ.

Frequently Asked Questions

A mortgage recast calculator estimates your new monthly payment and the total interest you save after paying a lump sum toward your mortgage principal and having your lender re-amortize the remaining balance.

A mortgage recast (also called re-amortization) is when you pay a large lump sum toward your principal and your lender recalculates your monthly payment based on the lower balance. Your interest rate and payoff date stay the same.

Lenders typically charge a one-time administrative fee of about $150 to $500. Many also require a minimum lump sum, often $5,000 to $10,000. Check your servicer's exact terms.

No. Your rate and remaining term stay the same. Only the monthly payment drops because it is recalculated on a smaller balance.

Generally no. Government-backed loans (FHA, VA, and USDA) usually cannot be recast. Recasting is mainly available on conventional loans, and even then it depends on the lender.

Recasting keeps your current rate and has no credit check or closing costs, so it tends to make sense when market rates are higher than your current rate. Refinancing can make more sense when rates have fallen enough to offset closing costs.

Prepaying without a recast keeps your payment the same and pays the loan off early, which saves the most interest. A recast saves somewhat less interest but lowers your required monthly payment, which gives you more cash-flow flexibility.

Recast Mortgage Calculator: Lower Your Loan Payments Easily

Enter Your Loan Details Below

Loan Details

Your Recast Results

Remaining Interest — Before vs. After

Full Breakdown & Fee Break-even

☰ Amortization Schedule

What Is a Mortgage Recast?

How a Mortgage Recast Works

How to Use This Calculator

Typical Recast Requirements

Recast vs. Refinance vs. Extra Payments

When Does Recasting Make Sense?

Summary

Frequently Asked Questions

Share This Tool