How much could a mortgage recast lower your payment?

Estimate payment after a lump-sum principal reduction and recast.

When this calculator is useful

Estimate how a lump-sum principal payment followed by a mortgage recast could lower the required monthly principal-and-interest payment.

What to enter

Enter current principal balance, current interest rate, remaining term, lump-sum principal payment and estimated recast fee.

How to read the result

Compare modeled current principal and interest with the estimated recast payment after the lump sum is applied to principal.

Questions worth testing

Compare different lump-sum amounts or remaining terms and weigh the payment reduction against the recast fee.