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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: $19,856.99  Interest: $10,482.27  Total: $30,339.24
277Jun 2046$2,528.27$1,606.03$922.24$168,654.45
278Jul 2046$2,528.27$1,614.73$913.54$167,039.72
279Aug 2046$2,528.27$1,623.47$904.80$165,416.25
280Sep 2046$2,528.27$1,632.27$896.00$163,783.98
281Oct 2046$2,528.27$1,641.11$887.16$162,142.87
282Nov 2046$2,528.27$1,650.00$878.27$160,492.87
283Dec 2046$2,528.27$1,658.94$869.34$158,833.94
284Jan 2047$2,528.27$1,667.92$860.35$157,166.01
285Feb 2047$2,528.27$1,676.96$851.32$155,489.06
286Mar 2047$2,528.27$1,686.04$842.23$153,803.02
287Apr 2047$2,528.27$1,695.17$833.10$152,107.85
288May 2047$2,528.27$1,704.35$823.92$150,403.49
YEAR 25  |  Principal: $21,186.86  Interest: $9,152.43  Total: $30,339.24
289Jun 2047$2,528.27$1,713.59$814.69$148,689.90
290Jul 2047$2,528.27$1,722.87$805.40$146,967.04
291Aug 2047$2,528.27$1,732.20$796.07$145,234.84
292Sep 2047$2,528.27$1,741.58$786.69$143,493.25
293Oct 2047$2,528.27$1,751.02$777.26$141,742.23
294Nov 2047$2,528.27$1,760.50$767.77$139,981.73
295Dec 2047$2,528.27$1,770.04$758.23$138,211.70
296Jan 2048$2,528.27$1,779.63$748.65$136,432.07
297Feb 2048$2,528.27$1,789.27$739.01$134,642.80
298Mar 2048$2,528.27$1,798.96$729.32$132,843.85
299Apr 2048$2,528.27$1,808.70$719.57$131,035.15
300May 2048$2,528.27$1,818.50$709.77$129,216.65
YEAR 26  |  Principal: $22,605.78  Interest: $7,733.51  Total: $30,339.24
301Jun 2048$2,528.27$1,828.35$699.92$127,388.30
302Jul 2048$2,528.27$1,838.25$690.02$125,550.05
303Aug 2048$2,528.27$1,848.21$680.06$123,701.84
304Sep 2048$2,528.27$1,858.22$670.05$121,843.62
305Oct 2048$2,528.27$1,868.29$659.99$119,975.33
306Nov 2048$2,528.27$1,878.41$649.87$118,096.93
307Dec 2048$2,528.27$1,888.58$639.69$116,208.35
308Jan 2049$2,528.27$1,898.81$629.46$114,309.54
309Feb 2049$2,528.27$1,909.10$619.18$112,400.44
310Mar 2049$2,528.27$1,919.44$608.84$110,481.00
311Apr 2049$2,528.27$1,929.83$598.44$108,551.17
312May 2049$2,528.27$1,940.29$587.99$106,610.88
YEAR 27  |  Principal: $24,119.72  Interest: $6,219.55  Total: $30,339.24
313Jun 2049$2,528.27$1,950.80$577.48$104,660.09
314Jul 2049$2,528.27$1,961.36$566.91$102,698.72
315Aug 2049$2,528.27$1,971.99$556.28$100,726.74
316Sep 2049$2,528.27$1,982.67$545.60$98,744.07
317Oct 2049$2,528.27$1,993.41$534.86$96,750.66
318Nov 2049$2,528.27$2,004.21$524.07$94,746.45
319Dec 2049$2,528.27$2,015.06$513.21$92,731.39
320Jan 2050$2,528.27$2,025.98$502.30$90,705.41
321Feb 2050$2,528.27$2,036.95$491.32$88,668.46
322Mar 2050$2,528.27$2,047.98$480.29$86,620.48
323Apr 2050$2,528.27$2,059.08$469.19$84,561.40
324May 2050$2,528.27$2,070.23$458.04$82,491.17
YEAR 28  |  Principal: $25,735.04  Interest: $4,604.20  Total: $30,339.24
325Jun 2050$2,528.27$2,081.44$446.83$80,409.72
326Jul 2050$2,528.27$2,092.72$435.55$78,317.01
327Aug 2050$2,528.27$2,104.05$424.22$76,212.95
328Sep 2050$2,528.27$2,115.45$412.82$74,097.50
329Oct 2050$2,528.27$2,126.91$401.36$71,970.59
330Nov 2050$2,528.27$2,138.43$389.84$69,832.16
331Dec 2050$2,528.27$2,150.01$378.26$67,682.14
332Jan 2051$2,528.27$2,161.66$366.61$65,520.48
333Feb 2051$2,528.27$2,173.37$354.90$63,347.11
334Mar 2051$2,528.27$2,185.14$343.13$61,161.97
335Apr 2051$2,528.27$2,196.98$331.29$58,964.99
336May 2051$2,528.27$2,208.88$319.39$56,756.11
—Page 5 total$151,696.20$113,504.39$38,191.96—

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.