Loan Recast Calculator

Estimate your new monthly payments after recasting your mortgage

Important Notice:

This calculator is intended for fixed-rate mortgages only. Results are estimates - please consult with your mortgage provider for accurate calculations and recast eligibility.

$
%
years
$
Show time reduction estimate

Your Results

Current Monthly Payment

$1703.37

New Monthly Payment

$1646.59

Monthly Savings

$56.78

Frequently Asked Questions

Mortgage recasting is when you make a large lump sum payment toward your mortgage principal and your lender then recalculates your monthly payments based on the new, lower balance while keeping the original term and interest rate the same.