Home Loan Recast Calculator
A recast takes a lump sum off your home loan balance and works out a new, lower payment over the months you have left, at the same rate. On a $350,000 loan at 6.75% with 29 years left, a $50,000 lump sum takes the payment from $2,294.55 to $1,966.75, a drop of $327.79 a month.
You need three numbers from your statement. The calculator is below the worked loans.
The three numbers to enter
- Current principal balance. The amount you still owe on the loan, not the original amount and not the payoff quote with interest.
- Interest rate. The yearly rate on your note. A recast keeps it.
- Years left. Months remaining on the schedule divided by 12. A 30-year loan taken out 5 years ago has 25 left.
Then the lump sum you plan to pay. Leave out escrow: a recast changes principal and interest only. The formula is in how to calculate a recast payment.
Three home loans, worked
| Loan | Balance | Rate | Years left | Lump sum | Payment now | Payment after | Saved a month | Drop |
|---|---|---|---|---|---|---|---|---|
| Newer loan | $350,000 | 6.75% | 29 | $50,000 | $2,294.55 | $1,966.75 | $327.79 | 14.3% |
| Mid-life loan | $220,000 | 4% | 18 | $30,000 | $1,430.43 | $1,235.38 | $195.06 | 13.6% |
| Late-stage loan | $90,000 | 3.25% | 9 | $20,000 | $962.26 | $748.43 | $213.84 | 22.2% |
The same lump sum saves more a month on a loan with many years left, because the smaller balance is spread over more payments. Figures are principal and interest only and come from the calculator's own formula.
Before you rely on the number
- PNC says FHA, VA and USDA loans are not eligible for a recast.
- Chase says your principal and interest payment stays lower for the rest of the loan after a recast.
- Chase says the escrow part of your payment can still change after a recast.
- Fees and minimum lump sums vary by servicer; see recast fees and rules by lender.
To see what a recast would save in interest, use the recast savings calculator. To compare it with a new loan, use the recast vs refinance calculator.
Frequently asked questions
Is a home loan recast the same as a mortgage recast?
Yes. Home loan and mortgage name the same loan here: a balance, a rate and a number of months left. A recast re-amortizes the smaller balance over those months.
Does a recast change my rate or my end date?
No. The rate and the end date stay as they are. Only the required payment changes, and only the principal and interest part of it.
Which balance do I enter?
The balance after the lump sum is applied is what the new payment is based on. Enter your current principal balance from your statement and the lump sum separately, and the calculator subtracts it.
Can I recast an FHA, VA or USDA home loan?
PNC says FHA, VA and USDA loans are not eligible for a recast. Chase does not allow recasting of FHA, VA or USDA loans. Conventional loans are the usual case, subject to the servicer's own rules.
Will my total monthly payment fall by the same amount?
Not always. Taxes and insurance in escrow are separate. Chase says the escrow part of your payment can still change after a recast.
Sources
Every figure on this page comes from the pages below. Checked 2026-10-22. Rules change, so confirm with your own servicer.
- PNC: What is a mortgage recast? (FHA, VA and USDA loans are not eligible)
- Chase: Recast your mortgage loan (FHA, VA and USDA not allowed, payment stays lower, escrow can change)
More recast guides
- Free Mortgage Recast Calculator - enter your own loan and see the new payment.
- Recast vs Refinance Calculator - Compare both options on the same loan, with a break-even point.
- Recast Fees and Rules by Lender - Fees, minimums and loan limits published by four large lenders.
- How to Calculate a Recast Payment - The formula, a step-by-step example and the numbers to check.
- How Much Will a Recast Lower My Payment? - The lump sum divided by balance shortcut, with lookup tables.
- Recast vs Extra Principal Payment - The same lump sum two ways: payment, payoff date and interest.
- Recast Amortization Schedule - Balance and interest by year, before and after a recast.
- Chase Mortgage Recast Calculator - No stated minimum, what the lender page says and what a lump sum does.
- Wells Fargo Mortgage Recast Calculator - The jumbo loan recast option, the $10,000 starting point and the rate used.
- Bank of America Mortgage Recast Calculator - Eligibility, timing and an estimate the lender will not give you.
- Best Mortgage Recast Calculator: What to Check - Seven checks and a test loan with the right answer.
- Mortgage Recast Calculator in Excel or Google Sheets - Cell-by-cell layout with PMT, interest saved and a fee break-even.
- How Much Does a Mortgage Recast Cost? - What lenders publish about the fee, and months to pay it back.
- Mortgage Recast Savings Calculator - Monthly saving, interest saved and the net after a fee, by lump sum.
- What Is a Mortgage Recast? - What changes, what stays the same, with a worked example.