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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 241–300 of 324 | Page 5/6
#DatePaymentPrincipalInterestBalance
YEAR 24  |  Principal: $17,282.61  Interest: $9,123.31  Total: $26,405.88
277Aug 2046$2,200.49$1,397.81$802.68$146,789.26
278Sep 2046$2,200.49$1,405.39$795.11$145,383.88
279Oct 2046$2,200.49$1,413.00$787.50$143,970.88
280Nov 2046$2,200.49$1,420.65$779.84$142,550.23
281Dec 2046$2,200.49$1,428.35$772.15$141,121.88
282Jan 2047$2,200.49$1,436.08$764.41$139,685.79
283Feb 2047$2,200.49$1,443.86$756.63$138,241.93
284Mar 2047$2,200.49$1,451.68$748.81$136,790.25
285Apr 2047$2,200.49$1,459.55$740.95$135,330.70
286May 2047$2,200.49$1,467.45$733.04$133,863.25
287Jun 2047$2,200.49$1,475.40$725.09$132,387.84
288Jul 2047$2,200.49$1,483.39$717.10$130,904.45
YEAR 25  |  Principal: $18,440.09  Interest: $7,965.86  Total: $26,405.88
289Aug 2047$2,200.49$1,491.43$709.07$129,413.02
290Sep 2047$2,200.49$1,499.51$700.99$127,913.51
291Oct 2047$2,200.49$1,507.63$692.86$126,405.88
292Nov 2047$2,200.49$1,515.80$684.70$124,890.09
293Dec 2047$2,200.49$1,524.01$676.49$123,366.08
294Jan 2048$2,200.49$1,532.26$668.23$121,833.82
295Feb 2048$2,200.49$1,540.56$659.93$120,293.26
296Mar 2048$2,200.49$1,548.91$651.59$118,744.35
297Apr 2048$2,200.49$1,557.30$643.20$117,187.06
298May 2048$2,200.49$1,565.73$634.76$115,621.33
299Jun 2048$2,200.49$1,574.21$626.28$114,047.11
300Jul 2048$2,200.49$1,582.74$617.76$112,464.37
YEAR 26  |  Principal: $19,675.04  Interest: $6,730.88  Total: $26,405.88
301Aug 2048$2,200.49$1,591.31$609.18$110,873.06
302Sep 2048$2,200.49$1,599.93$600.56$109,273.13
303Oct 2048$2,200.49$1,608.60$591.90$107,664.53
304Nov 2048$2,200.49$1,617.31$583.18$106,047.22
305Dec 2048$2,200.49$1,626.07$574.42$104,421.15
306Jan 2049$2,200.49$1,634.88$565.61$102,786.27
307Feb 2049$2,200.49$1,643.74$556.76$101,142.53
308Mar 2049$2,200.49$1,652.64$547.86$99,489.89
309Apr 2049$2,200.49$1,661.59$538.90$97,828.30
310May 2049$2,200.49$1,670.59$529.90$96,157.71
311Jun 2049$2,200.49$1,679.64$520.85$94,478.07
312Jul 2049$2,200.49$1,688.74$511.76$92,789.33
YEAR 27  |  Principal: $20,992.72  Interest: $5,413.22  Total: $26,405.88
313Aug 2049$2,200.49$1,697.89$502.61$91,091.44
314Sep 2049$2,200.49$1,707.08$493.41$89,384.36
315Oct 2049$2,200.49$1,716.33$484.17$87,668.03
316Nov 2049$2,200.49$1,725.63$474.87$85,942.41
317Dec 2049$2,200.49$1,734.97$465.52$84,207.43
318Jan 2050$2,200.49$1,744.37$456.12$82,463.06
319Feb 2050$2,200.49$1,753.82$446.67$80,709.24
320Mar 2050$2,200.49$1,763.32$437.18$78,945.92
321Apr 2050$2,200.49$1,772.87$427.62$77,173.05
322May 2050$2,200.49$1,782.47$418.02$75,390.58
323Jun 2050$2,200.49$1,792.13$408.37$73,598.45
324Jul 2050$2,200.49$1,801.84$398.66$71,796.61
YEAR 28  |  Principal: $22,398.64  Interest: $4,007.31  Total: $26,405.88
325Aug 2050$2,200.49$1,811.60$388.90$69,985.02
326Sep 2050$2,200.49$1,821.41$379.09$68,163.61
327Oct 2050$2,200.49$1,831.28$369.22$66,332.33
328Nov 2050$2,200.49$1,841.19$359.30$64,491.14
329Dec 2050$2,200.49$1,851.17$349.33$62,639.97
330Jan 2051$2,200.49$1,861.19$339.30$60,778.78
331Feb 2051$2,200.49$1,871.28$329.22$58,907.50
332Mar 2051$2,200.49$1,881.41$319.08$57,026.09
333Apr 2051$2,200.49$1,891.60$308.89$55,134.48
334May 2051$2,200.49$1,901.85$298.65$53,232.63
335Jun 2051$2,200.49$1,912.15$288.34$51,320.48
336Jul 2051$2,200.49$1,922.51$277.99$49,397.97
—Page 5 total$132,029.40$98,789.10$33,240.58—

Page 5 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.