Mortgage Recast Calculator

"A mortgage recast is a way to lower your monthly payments by making a large lump-sum payment toward your loan principal. This process doesn’t change your interest rate or loan term, but it reduces the balance, allowing your lender to re-amortize the loan. The result? You pay less each month without needing to refinance. To calculate how much your payments will drop, you can use a mortgage recast calculator, which takes into account your remaining balance, interest rate, and lump-sum payment. This tool makes it easier to see the impact of a recast on your finances."

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