Mortgage recast calculator

Lump-sum recast savings

New payment

$1,813

Current loan balance$Lump-sum principal payment$Annual interest rate%Months remainingCurrent principal and interest payment$Estimated recast fee$

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Recast vs. principal-only payoff

New principal after lump sum$270,000

If you recast: remaining interest estimate$317,516

If you skip recast and keep paying current P&I219 months to payoff

Interest difference vs. keeping current payment$116,859 more

Decision snapshot

A recast usually aims to lower the required principal and interest payment after a large principal payment while keeping the existing loan rate and remaining term.

If cash-flow relief is the goal, the monthly reduction and fee break-even are the key numbers. If fastest payoff is the goal, compare against keeping the current payment after the lump sum.