Built for U.S. homeowners, not lenders
We believe every homeowner deserves clear, unbiased financial tools to make confident decisions — without wading through sales pitches or confusing spreadsheets.
Demystifying the mortgage recast
When we first heard about mortgage recasting, the information was scattered, jargon-heavy, and buried in lender brochures. We couldn't find a single clean, free tool that showed us the real numbers — so we built one.
Mortgage Recast Calculator gives you an instant, honest picture of what a lump-sum payment does to your loan: new monthly payment, total interest saved, and a comparison with simply keeping your old payment, and a full amortization schedule. It is free, needs no sign-up, and never asks for your name or contact details.
We're not a bank, a broker, or a lead-generation service. We believe financial clarity is a right, not a premium feature.
Our Core Values
Transparency
Every number we show is derived from standard amortization math. No hidden adjustments, and our methodology and sources are listed on the calculator page. Your servicer's official figures may differ slightly because of rounding or fees, so always confirm with them.
Speed
You shouldn't have to wait. Results update instantly in your browser as you type — no submit-and-wait, no spinners, no sign-up wall.
Privacy
Our calculators run in your browser, so the loan numbers you enter are not sent to us or saved. The site uses analytics and advertising cookies, explained in our Privacy Policy.
Accessibility
Financial tools should work for everyone. Mortgage Recast Calculator runs on any device, any screen size, in any browser — no app download, no account required.
Who Runs This Site
Veerendar Sunkara
Veerendar Sunkara is the editor of Recast Mortgage Calculator. A full-stack web developer and the founder of Vistawave Technologies, a digital marketing agency, he oversees the site's calculators and content, with a focus on keeping every tool accurate, easy to use, and free.
How the calculator works
Current balance
We calculate your outstanding balance using the standard amortization formula, from your original loan amount, rate, and how many payments you've made — or you can enter the balance straight from your mortgage statement.
Lump-sum applied
Your lump-sum is subtracted from the current balance. The new balance is then re-amortized over the same remaining term at the same interest rate — the core of a recast.
Payment recalculated
The new monthly payment is derived from the reduced principal. We compare three options — doing nothing, recasting, and keeping your old payment — so you can see the payment, payoff date, and interest for each.
Full amortization
We generate yearly balances for all three options and a month-by-month table for each, so you can see the exact principal, interest, and balance for every payment remaining on your loan.
Ready to run your numbers?
It takes under 30 seconds. No signup, no email, no catch.
Try the Calculator