Mortgage Recast Calculator

How to use the result

Use the servicer's current unpaid principal, note rate, remaining payment count, recast quote, and fee. Confirm whether the loan type is eligible, the minimum curtailment, when the recast takes effect, whether a payment is due first, and how extra money is posted. Compare principal-and-interest only: escrow, taxes, insurance, PMI, HOA dues, adjustable-rate changes, refinance costs, and lender rules can make the actual payment different.

When to use this calculator

• Answering the specific mortgage recast question with your own inputs
• Testing how one entered assumption changes the result
• Preparing a documented planning scenario before checking current quotes, contracts, rules, or nonfinancial tradeoffs

Tips for better estimates

• Replace every sample value with a current amount that uses the same unit and time period as the field label.
• Change one assumption at a time so the effect on the result remains clear.
• Confirm contracts, quotes, policies, eligibility, safety limits, and nonfinancial tradeoffs outside the arithmetic.

How this calculator is reviewed

This page is checked for inputs, formulas, examples, assumptions, topic fit, and related links. For this calculator, the review also covers the entered values and units, calculation method, final rounding, status boundary, omitted costs or benefits, current quotes or contracts, eligibility or legal limits, and nonfinancial tradeoffs.

The sample result is covered by automated tests, and the page links to related calculators and, where available, supporting guides so readers can check the assumptions before acting. If a formula, label, or assumption looks off, send the page URL and your inputs through the contact page.

Worked example

Example inputs: Remaining mortgage principal balance: $300000; Fixed mortgage interest rate: 6.5 %; Remaining mortgage term: 300 months; Principal lump sum before recast: $50000; Quoted lender recast fee: $300. With those values, the calculator returns $337.61 lower estimated monthly principal-and-interest payment after recast. Applying $50,000.00 to principal before the next modeled monthly period and then recalculating the same 25 years at 6.5% produces an estimated $1,688.02 monthly principal-and-interest payment. Taxes, insurance, escrow, and lender eligibility are outside this estimate.

Example scenarios

• Use $337.61 lower estimated monthly principal-and-interest payment after recast as the sample result under the displayed inputs, not as a universal benchmark.
• Replace the sample values with one internally consistent scenario, then change one input at a time to see what drives the result.
• Apply the stated boundary carefully: Use the servicer's current unpaid principal, note rate, remaining payment count, recast quote, and fee. Confirm whether the loan type is eligible, the minimum curtailment, when the recast takes effect, whether a payment is due first, and how extra money is posted. Compare principal-and-interest only: escrow, taxes, insurance, PMI, HOA dues, adjustable-rate changes, refinance costs, and lender rules can make the actual payment different.

Quick reference chart

Common planning mistakes

Mixing units or time periods, leaving sample values unchanged, omitting required fees or costs, rounding before the final result, and treating an entered planning scenario as a quote, approval, legal determination, or guarantee.