Homeowner calculator
Mortgage Recast vs Refinance Calculator
Have a lump sum? Compare recasting your mortgage with keeping the same payment, refinancing, or paying extra every month. See how each choice changes your payment, payoff date, and total interest.
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- No credit check, no sign-up
- Updated 2026-09-24
- Equal Housing Lender · NMLS #466690 (verify)
Educational estimate, not a loan offer.
Mortgage Recast vs Refinance Calculator
Adjust any input and your results update instantly.
Payment after recast
$1,753
Interest saved, same payment
$146,347
Refinance break-even
1 yr 3 mo
| Compare | Do nothing | Lump sum, same payment | Recast | Refinance | Extra every month |
|---|---|---|---|---|---|
| Monthly payment (P&I) | $2,077 | $2,077 | $1,753 | $1,636 | $2,327 |
| Payment change | $0 | $0 | −$325 | −$442 | +$250 |
| Paid off in | 26 yr | 18 yr 2 mo | 26 yr | 30 yr | 20 yr 3 mo |
| Interest remaining | $328,172 | $181,825 | $276,895 | $312,317 | $244,115 |
| Total cost (interest + fees) | $328,172 | $181,825 | $277,145 | $318,817 | $244,115 |
| Saved vs doing nothing | $0 | $146,347 | $51,027 | $9,355 | $84,057 |
| Cash needed today | $0 | $50,000 | $50,250 | $50,000 | $0 |
| Fee break-even | — | — | 1 mo | 1 yr 3 mo | — |
Best value in each row is highlighted. For a detailed refinance analysis, use the refinance calculator; to model several prepayments, try the extra payments calculator.
How this calculator works
Do nothing amortizes your balance at your rate over the months remaining. Lump sum, same payment applies the lump sum today and keeps that payment, so the loan pays off early. Recast applies the lump sum and re-amortizes the lower balance over the same remaining months at the same rate.
Refinance replaces the balance (less the lump sum if you choose to apply it) plus financed closing costs with a new loan at the rate and term you enter. Extra every month adds your chosen amount to each payment with no lump sum.
Total cost is interest remaining plus the recast fee or closing costs. Break-even is those costs divided by the monthly payment reduction. Payments are principal and interest only.
Frequently asked questions
›What is a mortgage recast?
A recast, or loan re-amortization, is when you make a large principal payment and your servicer recalculates the payment over the remaining term at the same rate. Your payment drops, your payoff date and rate stay the same, and there is no new loan or credit check.
›Can I recast an FHA, VA, or USDA loan?
Generally no. Government-backed loans usually cannot be recast, although a servicer may re-amortize in limited situations such as a loan modification. Recasts are most common on conventional loans held by servicers that offer them. Ask your servicer for its minimum lump sum and fee.
›Is it better to recast or refinance?
A recast is cheap and keeps your rate, so it usually wins when your current rate is at or below market. A refinance costs more to close but can lower the rate or change the term, so it can win when rates have fallen enough for the savings to pass the closing costs before you move or pay off the loan.
›Recast or just pay down principal?
Both save the same interest in the first month. Keeping your payment the same after a lump sum pays the loan off sooner and saves more interest overall. A recast lowers the required payment, which frees cash flow but spreads the remaining balance over the full remaining term.
›How much does a recast cost?
Servicers that offer recasts commonly charge a flat fee, often around $150 to $500, and may require a minimum lump sum such as $5,000 or $10,000. Check your servicer’s current policy.
Related calculators and guides
Recast availability, minimum lump sums, and fees are set by your servicer and loan investor. FHA, VA, and USDA loans generally cannot be recast. Refinance rates and costs are your own estimates, not a quote or commitment to lend.
Calculators provide educational estimates only. They are not a loan offer, credit decision, or commitment to lend. Actual terms depend on underwriting, credit, property, and program availability.
Equal Housing Lender · NMLS #466690