Mortgage Recasting Calculator

Mortgage Recasting Calculator to calculate the new monthly payment if you are planning to recast your mortgage. The free recast calculator is calculated based on the balance remaining on your existing mortgage, current monthly payment, and the interest rate.

Recast Calculator
Remaining Balance	$	Interest Rate
Current Monthly Payment	$	Recasting Payment	$
Recasting Cost	$	Check Local Mortgage Rates

Mortgage Recast Results
Recast Mortgage Balance:			$90,000.00
Monthly Payment:			$643.42
Total # Of Payments:			251
Start Date:			Nov, 2025
Payoff Date:			Sep, 2046
Total Interest Paid:			$71,498.43
Total Payment:			$161,498.43
Original Mortgage Vs. Mortgage Recast
Comparison		Original		Recast
Monthly Payment		$715.43		$643.42
Total Interest		$79,305.59		$71,498.43
Fees		$0		$300
Savings		$0		$7,507.16
Mortgage Recasting Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Nov, 2025	1	$468.75	$174.67	$643.42	$89,825.33
Dec, 2025	2	$467.84	$175.58	$643.42	$89,649.75
Jan, 2026	3	$466.93	$176.49	$643.42	$89,473.26
Feb, 2026	4	$466.01	$177.41	$643.42	$89,295.84
Mar, 2026	5	$465.08	$178.34	$643.42	$89,117.50
Apr, 2026	6	$464.15	$179.27	$643.42	$88,938.24
May, 2026	7	$463.22	$180.20	$643.42	$88,758.04
Jun, 2026	8	$462.28	$181.14	$643.42	$88,576.90
Jul, 2026	9	$461.34	$182.08	$643.42	$88,394.82
Aug, 2026	10	$460.39	$183.03	$643.42	$88,211.79
Sep, 2026	11	$459.44	$183.98	$643.42	$88,027.80
Oct, 2026	12	$458.48	$184.94	$643.42	$87,842.86
Nov, 2026	13	$457.51	$185.91	$643.42	$87,656.96
Dec, 2026	14	$456.55	$186.87	$643.42	$87,470.08
Jan, 2027	15	$455.57	$187.85	$643.42	$87,282.24
Feb, 2027	16	$454.59	$188.83	$643.42	$87,093.41
Mar, 2027	17	$453.61	$189.81	$643.42	$86,903.60
Apr, 2027	18	$452.62	$190.80	$643.42	$86,712.81
May, 2027	19	$451.63	$191.79	$643.42	$86,521.02
Jun, 2027	20	$450.63	$192.79	$643.42	$86,328.23
Jul, 2027	21	$449.63	$193.79	$643.42	$86,134.43
Aug, 2027	22	$448.62	$194.80	$643.42	$85,939.63
Sep, 2027	23	$447.60	$195.82	$643.42	$85,743.81
Oct, 2027	24	$446.58	$196.84	$643.42	$85,546.97
Nov, 2027	25	$445.56	$197.86	$643.42	$85,349.11
Dec, 2027	26	$444.53	$198.89	$643.42	$85,150.22
Jan, 2028	27	$443.49	$199.93	$643.42	$84,950.29
Feb, 2028	28	$442.45	$200.97	$643.42	$84,749.32
Mar, 2028	29	$441.40	$202.02	$643.42	$84,547.30
Apr, 2028	30	$440.35	$203.07	$643.42	$84,344.23
May, 2028	31	$439.29	$204.13	$643.42	$84,140.10
Jun, 2028	32	$438.23	$205.19	$643.42	$83,934.91
Jul, 2028	33	$437.16	$206.26	$643.42	$83,728.65
Aug, 2028	34	$436.09	$207.33	$643.42	$83,521.32
Sep, 2028	35	$435.01	$208.41	$643.42	$83,312.91
Oct, 2028	36	$433.92	$209.50	$643.42	$83,103.41
Nov, 2028	37	$432.83	$210.59	$643.42	$82,892.82
Dec, 2028	38	$431.73	$211.69	$643.42	$82,681.13
Jan, 2029	39	$430.63	$212.79	$643.42	$82,468.34
Feb, 2029	40	$429.52	$213.90	$643.42	$82,254.44
Mar, 2029	41	$428.41	$215.01	$643.42	$82,039.43
Apr, 2029	42	$427.29	$216.13	$643.42	$81,823.30
May, 2029	43	$426.16	$217.26	$643.42	$81,606.05
Jun, 2029	44	$425.03	$218.39	$643.42	$81,387.66
Jul, 2029	45	$423.89	$219.53	$643.42	$81,168.13
Aug, 2029	46	$422.75	$220.67	$643.42	$80,947.46
Sep, 2029	47	$421.60	$221.82	$643.42	$80,725.64
Oct, 2029	48	$420.45	$222.97	$643.42	$80,502.67
Nov, 2029	49	$419.28	$224.14	$643.42	$80,278.53
Dec, 2029	50	$418.12	$225.30	$643.42	$80,053.23
Jan, 2030	51	$416.94	$226.48	$643.42	$79,826.75
Feb, 2030	52	$415.76	$227.66	$643.42	$79,599.10
Mar, 2030	53	$414.58	$228.84	$643.42	$79,370.26
Apr, 2030	54	$413.39	$230.03	$643.42	$79,140.22
May, 2030	55	$412.19	$231.23	$643.42	$78,908.99
Jun, 2030	56	$410.98	$232.44	$643.42	$78,676.56
Jul, 2030	57	$409.77	$233.65	$643.42	$78,442.91
Aug, 2030	58	$408.56	$234.86	$643.42	$78,208.05
Sep, 2030	59	$407.33	$236.09	$643.42	$77,971.96
Oct, 2030	60	$406.10	$237.32	$643.42	$77,734.64
Nov, 2030	61	$404.87	$238.55	$643.42	$77,496.09
Dec, 2030	62	$403.63	$239.79	$643.42	$77,256.30
Jan, 2031	63	$402.38	$241.04	$643.42	$77,015.25
Feb, 2031	64	$401.12	$242.30	$643.42	$76,772.96
Mar, 2031	65	$399.86	$243.56	$643.42	$76,529.39
Apr, 2031	66	$398.59	$244.83	$643.42	$76,284.57
May, 2031	67	$397.32	$246.10	$643.42	$76,038.46
Jun, 2031	68	$396.03	$247.39	$643.42	$75,791.07
Jul, 2031	69	$394.75	$248.67	$643.42	$75,542.40
Aug, 2031	70	$393.45	$249.97	$643.42	$75,292.43
Sep, 2031	71	$392.15	$251.27	$643.42	$75,041.16
Oct, 2031	72	$390.84	$252.58	$643.42	$74,788.58
Nov, 2031	73	$389.52	$253.90	$643.42	$74,534.68
Dec, 2031	74	$388.20	$255.22	$643.42	$74,279.46
Jan, 2032	75	$386.87	$256.55	$643.42	$74,022.91
Feb, 2032	76	$385.54	$257.88	$643.42	$73,765.03
Mar, 2032	77	$384.19	$259.23	$643.42	$73,505.80
Apr, 2032	78	$382.84	$260.58	$643.42	$73,245.23
May, 2032	79	$381.49	$261.93	$643.42	$72,983.29
Jun, 2032	80	$380.12	$263.30	$643.42	$72,719.99
Jul, 2032	81	$378.75	$264.67	$643.42	$72,455.32
Aug, 2032	82	$377.37	$266.05	$643.42	$72,189.27
Sep, 2032	83	$375.99	$267.43	$643.42	$71,921.84
Oct, 2032	84	$374.59	$268.83	$643.42	$71,653.01
Nov, 2032	85	$373.19	$270.23	$643.42	$71,382.79
Dec, 2032	86	$371.79	$271.63	$643.42	$71,111.15
Jan, 2033	87	$370.37	$273.05	$643.42	$70,838.10
Feb, 2033	88	$368.95	$274.47	$643.42	$70,563.63
Mar, 2033	89	$367.52	$275.90	$643.42	$70,287.73
Apr, 2033	90	$366.08	$277.34	$643.42	$70,010.39
May, 2033	91	$364.64	$278.78	$643.42	$69,731.61
Jun, 2033	92	$363.19	$280.23	$643.42	$69,451.37
Jul, 2033	93	$361.73	$281.69	$643.42	$69,169.68
Aug, 2033	94	$360.26	$283.16	$643.42	$68,886.52
Sep, 2033	95	$358.78	$284.64	$643.42	$68,601.88
Oct, 2033	96	$357.30	$286.12	$643.42	$68,315.76
Nov, 2033	97	$355.81	$287.61	$643.42	$68,028.15
Dec, 2033	98	$354.31	$289.11	$643.42	$67,739.05
Jan, 2034	99	$352.81	$290.61	$643.42	$67,448.43
Feb, 2034	100	$351.29	$292.13	$643.42	$67,156.31
Mar, 2034	101	$349.77	$293.65	$643.42	$66,862.66
Apr, 2034	102	$348.24	$295.18	$643.42	$66,567.48
May, 2034	103	$346.71	$296.71	$643.42	$66,270.77
Jun, 2034	104	$345.16	$298.26	$643.42	$65,972.51
Jul, 2034	105	$343.61	$299.81	$643.42	$65,672.70
Aug, 2034	106	$342.05	$301.37	$643.42	$65,371.32
Sep, 2034	107	$340.48	$302.94	$643.42	$65,068.38
Oct, 2034	108	$338.90	$304.52	$643.42	$64,763.86
Nov, 2034	109	$337.31	$306.11	$643.42	$64,457.75
Dec, 2034	110	$335.72	$307.70	$643.42	$64,150.04
Jan, 2035	111	$334.11	$309.31	$643.42	$63,840.74
Feb, 2035	112	$332.50	$310.92	$643.42	$63,529.82
Mar, 2035	113	$330.88	$312.54	$643.42	$63,217.29
Apr, 2035	114	$329.26	$314.16	$643.42	$62,903.12
May, 2035	115	$327.62	$315.80	$643.42	$62,587.32
Jun, 2035	116	$325.98	$317.44	$643.42	$62,269.88
Jul, 2035	117	$324.32	$319.10	$643.42	$61,950.78
Aug, 2035	118	$322.66	$320.76	$643.42	$61,630.02
Sep, 2035	119	$320.99	$322.43	$643.42	$61,307.59
Oct, 2035	120	$319.31	$324.11	$643.42	$60,983.48
Nov, 2035	121	$317.62	$325.80	$643.42	$60,657.68
Dec, 2035	122	$315.93	$327.49	$643.42	$60,330.19
Jan, 2036	123	$314.22	$329.20	$643.42	$60,000.99
Feb, 2036	124	$312.51	$330.91	$643.42	$59,670.08
Mar, 2036	125	$310.78	$332.64	$643.42	$59,337.44
Apr, 2036	126	$309.05	$334.37	$643.42	$59,003.07
May, 2036	127	$307.31	$336.11	$643.42	$58,666.95
Jun, 2036	128	$305.56	$337.86	$643.42	$58,329.09
Jul, 2036	129	$303.80	$339.62	$643.42	$57,989.47
Aug, 2036	130	$302.03	$341.39	$643.42	$57,648.08
Sep, 2036	131	$300.25	$343.17	$643.42	$57,304.91
Oct, 2036	132	$298.46	$344.96	$643.42	$56,959.95
Nov, 2036	133	$296.67	$346.75	$643.42	$56,613.20
Dec, 2036	134	$294.86	$348.56	$643.42	$56,264.64
Jan, 2037	135	$293.04	$350.38	$643.42	$55,914.26
Feb, 2037	136	$291.22	$352.20	$643.42	$55,562.06
Mar, 2037	137	$289.39	$354.03	$643.42	$55,208.03
Apr, 2037	138	$287.54	$355.88	$643.42	$54,852.15
May, 2037	139	$285.69	$357.73	$643.42	$54,494.42
Jun, 2037	140	$283.83	$359.59	$643.42	$54,134.82
Jul, 2037	141	$281.95	$361.47	$643.42	$53,773.35
Aug, 2037	142	$280.07	$363.35	$643.42	$53,410.00
Sep, 2037	143	$278.18	$365.24	$643.42	$53,044.76
Oct, 2037	144	$276.27	$367.15	$643.42	$52,677.62
Nov, 2037	145	$274.36	$369.06	$643.42	$52,308.56
Dec, 2037	146	$272.44	$370.98	$643.42	$51,937.58
Jan, 2038	147	$270.51	$372.91	$643.42	$51,564.67
Feb, 2038	148	$268.57	$374.85	$643.42	$51,189.81
Mar, 2038	149	$266.61	$376.81	$643.42	$50,813.01
Apr, 2038	150	$264.65	$378.77	$643.42	$50,434.24
May, 2038	151	$262.68	$380.74	$643.42	$50,053.50
Jun, 2038	152	$260.70	$382.72	$643.42	$49,670.77
Jul, 2038	153	$258.70	$384.72	$643.42	$49,286.05
Aug, 2038	154	$256.70	$386.72	$643.42	$48,899.33
Sep, 2038	155	$254.68	$388.74	$643.42	$48,510.59
Oct, 2038	156	$252.66	$390.76	$643.42	$48,119.83
Nov, 2038	157	$250.62	$392.80	$643.42	$47,727.04
Dec, 2038	158	$248.58	$394.84	$643.42	$47,332.20
Jan, 2039	159	$246.52	$396.90	$643.42	$46,935.30
Feb, 2039	160	$244.45	$398.97	$643.42	$46,536.33
Mar, 2039	161	$242.38	$401.04	$643.42	$46,135.29
Apr, 2039	162	$240.29	$403.13	$643.42	$45,732.16
May, 2039	163	$238.19	$405.23	$643.42	$45,326.93
Jun, 2039	164	$236.08	$407.34	$643.42	$44,919.58
Jul, 2039	165	$233.96	$409.46	$643.42	$44,510.12
Aug, 2039	166	$231.82	$411.60	$643.42	$44,098.52
Sep, 2039	167	$229.68	$413.74	$643.42	$43,684.78
Oct, 2039	168	$227.52	$415.90	$643.42	$43,268.89
Nov, 2039	169	$225.36	$418.06	$643.42	$42,850.83
Dec, 2039	170	$223.18	$420.24	$643.42	$42,430.59
Jan, 2040	171	$220.99	$422.43	$643.42	$42,008.16
Feb, 2040	172	$218.79	$424.63	$643.42	$41,583.53
Mar, 2040	173	$216.58	$426.84	$643.42	$41,156.69
Apr, 2040	174	$214.36	$429.06	$643.42	$40,727.63
May, 2040	175	$212.12	$431.30	$643.42	$40,296.33
Jun, 2040	176	$209.88	$433.54	$643.42	$39,862.79
Jul, 2040	177	$207.62	$435.80	$643.42	$39,426.99
Aug, 2040	178	$205.35	$438.07	$643.42	$38,988.92
Sep, 2040	179	$203.07	$440.35	$643.42	$38,548.57
Oct, 2040	180	$200.77	$442.65	$643.42	$38,105.92
Nov, 2040	181	$198.47	$444.95	$643.42	$37,660.97
Dec, 2040	182	$196.15	$447.27	$643.42	$37,213.70
Jan, 2041	183	$193.82	$449.60	$643.42	$36,764.10
Feb, 2041	184	$191.48	$451.94	$643.42	$36,312.16
Mar, 2041	185	$189.13	$454.29	$643.42	$35,857.87
Apr, 2041	186	$186.76	$456.66	$643.42	$35,401.20
May, 2041	187	$184.38	$459.04	$643.42	$34,942.17
Jun, 2041	188	$181.99	$461.43	$643.42	$34,480.74
Jul, 2041	189	$179.59	$463.83	$643.42	$34,016.90
Aug, 2041	190	$177.17	$466.25	$643.42	$33,550.65
Sep, 2041	191	$174.74	$468.68	$643.42	$33,081.98
Oct, 2041	192	$172.30	$471.12	$643.42	$32,610.86
Nov, 2041	193	$169.85	$473.57	$643.42	$32,137.29
Dec, 2041	194	$167.38	$476.04	$643.42	$31,661.25
Jan, 2042	195	$164.90	$478.52	$643.42	$31,182.73
Feb, 2042	196	$162.41	$481.01	$643.42	$30,701.72
Mar, 2042	197	$159.90	$483.52	$643.42	$30,218.21
Apr, 2042	198	$157.39	$486.03	$643.42	$29,732.17
May, 2042	199	$154.86	$488.56	$643.42	$29,243.61
Jun, 2042	200	$152.31	$491.11	$643.42	$28,752.50
Jul, 2042	201	$149.75	$493.67	$643.42	$28,258.83
Aug, 2042	202	$147.18	$496.24	$643.42	$27,762.59
Sep, 2042	203	$144.60	$498.82	$643.42	$27,263.77
Oct, 2042	204	$142.00	$501.42	$643.42	$26,762.35
Nov, 2042	205	$139.39	$504.03	$643.42	$26,258.32
Dec, 2042	206	$136.76	$506.66	$643.42	$25,751.66
Jan, 2043	207	$134.12	$509.30	$643.42	$25,242.36
Feb, 2043	208	$131.47	$511.95	$643.42	$24,730.41
Mar, 2043	209	$128.80	$514.62	$643.42	$24,215.80
Apr, 2043	210	$126.12	$517.30	$643.42	$23,698.50
May, 2043	211	$123.43	$519.99	$643.42	$23,178.51
Jun, 2043	212	$120.72	$522.70	$643.42	$22,655.81
Jul, 2043	213	$118.00	$525.42	$643.42	$22,130.39
Aug, 2043	214	$115.26	$528.16	$643.42	$21,602.23
Sep, 2043	215	$112.51	$530.91	$643.42	$21,071.32
Oct, 2043	216	$109.75	$533.67	$643.42	$20,537.65
Nov, 2043	217	$106.97	$536.45	$643.42	$20,001.20
Dec, 2043	218	$104.17	$539.25	$643.42	$19,461.95
Jan, 2044	219	$101.36	$542.06	$643.42	$18,919.89
Feb, 2044	220	$98.54	$544.88	$643.42	$18,375.01
Mar, 2044	221	$95.70	$547.72	$643.42	$17,827.30
Apr, 2044	222	$92.85	$550.57	$643.42	$17,276.73
May, 2044	223	$89.98	$553.44	$643.42	$16,723.29
Jun, 2044	224	$87.10	$556.32	$643.42	$16,166.97
Jul, 2044	225	$84.20	$559.22	$643.42	$15,607.75
Aug, 2044	226	$81.29	$562.13	$643.42	$15,045.62
Sep, 2044	227	$78.36	$565.06	$643.42	$14,480.57
Oct, 2044	228	$75.42	$568.00	$643.42	$13,912.57
Nov, 2044	229	$72.46	$570.96	$643.42	$13,341.61
Dec, 2044	230	$69.49	$573.93	$643.42	$12,767.68
Jan, 2045	231	$66.50	$576.92	$643.42	$12,190.75
Feb, 2045	232	$63.49	$579.93	$643.42	$11,610.83
Mar, 2045	233	$60.47	$582.95	$643.42	$11,027.88
Apr, 2045	234	$57.44	$585.98	$643.42	$10,441.90
May, 2045	235	$54.38	$589.04	$643.42	$9,852.86
Jun, 2045	236	$51.32	$592.10	$643.42	$9,260.76
Jul, 2045	237	$48.23	$595.19	$643.42	$8,665.57
Aug, 2045	238	$45.13	$598.29	$643.42	$8,067.29
Sep, 2045	239	$42.02	$601.40	$643.42	$7,465.88
Oct, 2045	240	$38.88	$604.54	$643.42	$6,861.35
Nov, 2045	241	$35.74	$607.68	$643.42	$6,253.66
Dec, 2045	242	$32.57	$610.85	$643.42	$5,642.81
Jan, 2046	243	$29.39	$614.03	$643.42	$5,028.78
Feb, 2046	244	$26.19	$617.23	$643.42	$4,411.56
Mar, 2046	245	$22.98	$620.44	$643.42	$3,791.11
Apr, 2046	246	$19.75	$623.67	$643.42	$3,167.44
May, 2046	247	$16.50	$626.92	$643.42	$2,540.51
Jun, 2046	248	$13.23	$630.19	$643.42	$1,910.33
Jul, 2046	249	$9.95	$633.47	$643.42	$1,276.86
Aug, 2046	250	$6.65	$636.77	$643.42	$640.09
Sep, 2046	251	$3.33	$640.09	$643.42	$0.00

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What is a mortgage recast?

A mortgage recast is when a lender allows a borrower to reduce his monthly payment by making a lump sum recast payment towards the principal of the mortgage. Borrowers who do a mortgage recast will save interest payments and the overall costs for the mortgage because of lower interest payments each month. There will be no change in the interest rate or the terms for mortgage recasting. There is a recast fee that lenders charge should the borrower choose to recast his mortgage. The recast fee is usually around a few hundred dollars, but you will need to check with your bank or lender for the exact amount. A mortgage recast may save you interest payment in the long term depending on how much recast payment you want to make and the recast fees associated with it.

Extra mortgage payments

There are many other options you may have to save interest payment on a mortgage other than a mortgage recast. One method is by making extra payments to reduce your principal. You can make a one-time lump sum payment or increase your monthly payment to reduce principal. Making a lump-sum payment is essentially the same as a recast, but you avoid the recast fee that the bank charges. However, some lenders don't allow borrowers to make extra payments or to pay off their mortgages early, or they may charge a penalty for doing that. You will need to check with your bank and read the fine print of your mortgage to make sure there are no fees or penalties. Our mortgage recast calculator or the extra payment mortgage calculator to see which one saves you the most money in interest, and which option makes the most sense for your current situation.

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Biweekly mortgage payments

Another option you may have is to increase the frequency of your mortgage payments. Instead of the regular monthly payments, you can choose to make bi-weekly payments. With biweekly mortgage payments, a borrower pays half of their monthly payments every 2 weeks. This is equivalent to 13 months worth of payments each year which is one more payment than the default monthly payment where a borrower makes 12 payments per year. One extra payment per year might not seem like a lot, but it actually saves you a lot on interest payments and may even cut a few years from the life of the mortgage term.

Recast vs Refinance

One other option that borrowers should consider is refinancing. If the interest rate is declining since you got your first mortgage, then refinance may be a good option. Recast allows a borrower to make a lump sum payment to reduce their mortgage balance, but keep the same interest rate and term, whereas refinance allows a borrower to get a lower interest rate. On the other hand, if you already have a low-interest rate, or if the interest rate has gone up since you bought your home, then refinance makes no sense because you won't be able to lower your monthly payments and there will be no savings on interest payments. On top of that, refinance takes longer to get approved since it is essentially the same as applying for a new loan, and the refinance costs are higher than a recast. Following is a list of the benefits of recast and refinance to help you decide which is the better option for you.

Benefits of refinancing

• Lower monthly payments - If the interest rate has gone down dramatically since you bought your home, refinance is a good option to get a lower interest rate and hence a reduced monthly payment.


• Improved credit score - If your credit score has improved and you believe that you are now qualified for a much lower interest rate, refinancing could be a good option.


• Changning terms - If you want to lower your 30-year term to a 15-year term, or switch from an adjustable-rate mortgage to a fixed interest rate, refinancing is a good way to do that.

To learn more about refinance and how much you can save, check out how much can I save by refinancing calculator. Benefits of Recast

• Lower costs - Recasting a mortgage has a much lower fee than refinancing.


• Shorter approval process - You may or may not qualify to refinance your mortgage, but you are most likely to get approved for a recast. Since recast is more like you ask your lender to recalculate your amortization schedule for your monthly payments, it doesn't require you to provide income proof or credit score checks like refinance does, the approval process is much shorter.

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Is recasting worth it?

If you received a big amount of money, either from an inheritance, a bonus from your job, or proceeds from selling another house, and your lender does not allow you to pay off your mortgage without penalty, then recasting might be the best option for you. Otherwise, you may consider making extra payments or increasing the payment frequency since recasting does not lower your interest rate and the mortgage term. Use our mortgage recast calculator with amortization schedule to see exactly how much you will save with mortgage recasting against your original mortgage. You will also see the recast amortization schedule that shows you the new lower monthly payments.