Mortgage Recast Calculator

Use this Mortgage Recast Calculator to estimate how a lump-sum principal payment can reduce your monthly mortgage payment and total interest.

HomeExpertly
www.homeexpertly.com
Mortgage Recast Calculator
Lower your monthly payment without refinancing. Calculate your new payment and interest savings after making a lump-sum principal reduction.
Loan Details
$
%
years
Lump Sum Payment
$
This amount is applied directly to the principal.
$
Most lenders charge a small fee ($150-$500) to process a recast.
Recast Savings Analysis
Monthly Payment Impact
Current P&I Payment—
New Recasted Payment—
Monthly Savings—
Lifetime Interest Savings
Total Interest (No Recast)—
Total Interest (With Recast)—
Total Interest Saved—
Unlike a regular principal payment which shortens your term, a recast lowers your payment but keeps the term length the same.
Visuals
Monthly Payment Drop
Total Interest Cost
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