Mortgage Recast Calculator

Use our Mortgage Recast Calculator to easily estimate how adjusting your mortgage payments can save you money and reduce your loan term. Perfect for homeowners looking to optimize their mortgage recast strategy for more savings.

How to Use the Mortgage Recast Calculator

Our Mortgage Recast Calculator is easy to use. Follow these steps to estimate your potential savings:

  1. Enter your current loan amount and interest rate.
  2. Specify the remaining term of your mortgage in years and months.
  3. Input your current monthly payment.
  4. Enter the lump sum amount you plan to apply toward your mortgage (the recast amount).
  5. Input any fees associated with the recast (typically provided by your lender).
  6. Specify the new loan term you prefer after the recast.
  7. Click "Calculate" to see your new monthly payment, total savings, and how much interest you’ll save over the life of the loan.