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 — 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
157Jun 2036$2,528.27$839.89$1,688.38$310,861.05
158Jul 2036$2,528.27$844.44$1,683.83$310,016.60
159Aug 2036$2,528.27$849.02$1,679.26$309,167.59
160Sep 2036$2,528.27$853.61$1,674.66$308,313.97
161Oct 2036$2,528.27$858.24$1,670.03$307,455.74
162Nov 2036$2,528.27$862.89$1,665.39$306,592.85
163Dec 2036$2,528.27$867.56$1,660.71$305,725.29
164Jan 2037$2,528.27$872.26$1,656.01$304,853.03
165Feb 2037$2,528.27$876.98$1,651.29$303,976.04
166Mar 2037$2,528.27$881.74$1,646.54$303,094.31
167Apr 2037$2,528.27$886.51$1,641.76$302,207.80
168May 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
169Jun 2037$2,528.27$896.14$1,632.13$300,420.34
170Jul 2037$2,528.27$901.00$1,627.28$299,519.35
171Aug 2037$2,528.27$905.88$1,622.40$298,613.47
172Sep 2037$2,528.27$910.78$1,617.49$297,702.69
173Oct 2037$2,528.27$915.72$1,612.56$296,786.97
174Nov 2037$2,528.27$920.68$1,607.60$295,866.30
175Dec 2037$2,528.27$925.66$1,602.61$294,940.64
176Jan 2038$2,528.27$930.68$1,597.60$294,009.96
177Feb 2038$2,528.27$935.72$1,592.55$293,074.24
178Mar 2038$2,528.27$940.79$1,587.49$292,133.45
179Apr 2038$2,528.27$945.88$1,582.39$291,187.57
180May 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
181Jun 2038$2,528.27$956.16$1,572.11$289,280.41
182Jul 2038$2,528.27$961.34$1,566.94$288,319.07
183Aug 2038$2,528.27$966.54$1,561.73$287,352.53
184Sep 2038$2,528.27$971.78$1,556.49$286,380.75
185Oct 2038$2,528.27$977.04$1,551.23$285,403.70
186Nov 2038$2,528.27$982.34$1,545.94$284,421.37
187Dec 2038$2,528.27$987.66$1,540.62$283,433.71
188Jan 2039$2,528.27$993.01$1,535.27$282,440.71
189Feb 2039$2,528.27$998.38$1,529.89$281,442.32
190Mar 2039$2,528.27$1,003.79$1,524.48$280,438.53
191Apr 2039$2,528.27$1,009.23$1,519.04$279,429.30
192May 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
193Jun 2039$2,528.27$1,020.19$1,508.08$277,394.41
194Jul 2039$2,528.27$1,025.72$1,502.55$276,368.69
195Aug 2039$2,528.27$1,031.28$1,497.00$275,337.42
196Sep 2039$2,528.27$1,036.86$1,491.41$274,300.55
197Oct 2039$2,528.27$1,042.48$1,485.79$273,258.08
198Nov 2039$2,528.27$1,048.12$1,480.15$272,209.95
199Dec 2039$2,528.27$1,053.80$1,474.47$271,156.15
200Jan 2040$2,528.27$1,059.51$1,468.76$270,096.64
201Feb 2040$2,528.27$1,065.25$1,463.02$269,031.39
202Mar 2040$2,528.27$1,071.02$1,457.25$267,960.37
203Apr 2040$2,528.27$1,076.82$1,451.45$266,883.55
204May 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
205Jun 2040$2,528.27$1,088.52$1,439.75$264,712.38
206Jul 2040$2,528.27$1,094.41$1,433.86$263,617.97
207Aug 2040$2,528.27$1,100.34$1,427.93$262,517.63
208Sep 2040$2,528.27$1,106.30$1,421.97$261,411.33
209Oct 2040$2,528.27$1,112.29$1,415.98$260,299.03
210Nov 2040$2,528.27$1,118.32$1,409.95$259,180.71
211Dec 2040$2,528.27$1,124.38$1,403.90$258,056.34
212Jan 2041$2,528.27$1,130.47$1,397.81$256,925.87
213Feb 2041$2,528.27$1,136.59$1,391.68$255,789.28
214Mar 2041$2,528.27$1,142.75$1,385.53$254,646.53
215Apr 2041$2,528.27$1,148.94$1,379.34$253,497.60
216May 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.