Mortgage Recast Fees and Rules by Lender

Recast rules differ by lender, and they can change without notice. At the four lenders below, the fee runs from none to $250, and the minimums we found run from none to $10,000.

The summary below uses only each lender's own pages, opened on 2026-10-15. To see what a recast would do to your payment, use the mortgage recast calculator.

Recast rules at four large lenders

Chase

Minimum
No minimum
Fee
Example shows no fees; a disclosure says fees may apply
Loans and conditions
FHA, VA and USDA not eligible. Loan in good standing.

Wells Fargo

Minimum
$10,000 or more
Fee
No transaction fee
Loans and conditions
Described as a jumbo loan recast option. Eligibility confirmed by phone.

Bank of America

Minimum
$5,000 in principal payments in the last six months
Fee
No fee
Loans and conditions
Six payments made, loan current, no recast in the last 12 months.

U.S. Bank

Minimum
Not found on the pages we opened
Fee
$250
Loans and conditions
Fee not charged in bankruptcy or SCRA cases. Ask for the rest.

Chase and Bank of America say recast eligibility depends on investor guidelines and can change without notice. Wells Fargo says timing and other requirements apply. Treat this summary as a starting point and confirm with the lender before you send money.

What each lender publishes

Chase

  • Chase says there is no minimum amount, but a recast after a small principal payment will not lower your payment much.
  • No appraisal, no credit check and no income papers. You sign the recast agreement.
  • FHA, VA and USDA loans are not eligible. Availability is based on investor guidelines and can change without notice.
  • Your principal and interest payment stays lower for the rest of the loan. The escrow part can still change.
  • If you pay down principal again later, you could be eligible to recast again.

Wells Fargo

  • Wells Fargo describes a jumbo loan recast option. A principal payment of $10,000 or more starts the recalculation.
  • It recalculates your payment on the lower balance, at your then-current rate, over the remaining term.
  • It says no transaction fee is required.
  • It warns that you may pay more interest over the full term than if you made the same principal payment without a recast.
  • Timing and other requirements are explained when you ask. Its pages do not say whether other loan types can be recast, so ask.

Bank of America

  • You must have made the first six months of payments, and the loan must be current.
  • You need at least $5,000 in principal curtailment payments over the last six months. A curtailment is money applied to principal on top of your regular payment.
  • A recast can be requested once in any rolling 12-month period. There is no fee.
  • You request it by phone. If you go ahead, you sign the recast agreement with an original ink signature.
  • Bank of America says it cannot give an estimate of the new payment before the recast is done. After it gets your signed agreement it updates the payment within 2 business days, if there are no issues.

U.S. Bank

  • U.S. Bank's Mortgage Servicing Fee Matrix lists a $250 recast modification fee.
  • The fee applies when a borrower requests a large principal reduction with the remaining balance re-spread over the rest of the loan. It is not charged in bankruptcy or SCRA cases.
  • The document shows no effective date, and we found no minimum or eligibility rules on the U.S. Bank pages we opened. Call the number on your statement.

Why numbers differ between websites

Some guides list one fee and one minimum for every big lender. Those tables can differ from what the lender publishes. On 2026-10-15, one 2026 table showed Chase and Wells Fargo at a $5,000 minimum. Chase says there is no minimum, and Wells Fargo says $10,000.

Older news is also out of date. A 2019 article said Chase and Wells Fargo recast at no charge and Bank of America charged $250. Bank of America's own page now says there is no fee.

Use the lender's page or phone line as the final word. Our recast vs refinance guide shows how a fee changes the choice.

How much does a recast cost?

The fee is small next to the lump sum. At the four lenders above it is none, $250 or not listed. Guides give similar ranges: NerdWallet says generally $150 to $250, and PNC and Experian say usually a few hundred dollars.

The real cost is the cash. Experian notes that a recast can take more cash up front than a refinance because of the lump sum. That money goes to your loan, so it lowers your balance instead of paying a fee.

Questions to ask your servicer

  1. Can my loan type be recast?
  2. What is the minimum principal payment, and does it count extra payments I already made?
  3. What is the fee, and when do I pay it?
  4. Is there a waiting period after closing or after a past recast?
  5. How and by what date do I send the funds?
  6. When does the new payment start, and what will happen to my escrow amount?

Then run your numbers in the recast payment guide to check the amount your lender quotes.

Frequently asked questions

How much does it cost to recast a mortgage?

It depends on the lender. Bank of America says there is no fee. Wells Fargo says no transaction fee is required for its jumbo loan recast. U.S. Bank lists $250. Chase shows an example with no fees, and its page also says fees may apply. NerdWallet says fees generally run $150 to $250. The lump sum you pay toward the loan is the larger cost.

Does Chase charge a fee to recast?

Chase does not list a fee amount on its recast page. The example on that page says no fees, and a disclosure on the same page says fees may apply. Ask Chase for the fee on your loan before you send money.

What is the minimum payment for a Wells Fargo recast?

For its jumbo loan recast option, Wells Fargo says a principal payment of $10,000 or more starts the recalculation. Wells Fargo says eligibility must be confirmed with a home mortgage consultant.

What is the minimum payment for a Bank of America recast?

Bank of America asks for at least $5,000 in principal curtailment payments over the last six months. If you have not reached that amount when you ask, you have 30 days after the request to send it.

Can I recast an FHA, VA or USDA loan?

Chase says FHA, VA and USDA loans are not eligible for a recast. PNC says the same. Ask your servicer if you are unsure which type of loan you have.

How long until my new payment starts?

Bank of America says it updates the payment within 2 business days after it receives your signed agreement, if there are no issues. Other lenders do not publish a time on the pages we checked, so ask yours.

Sources

Every figure on this page comes from the pages below. Checked 2026-10-15. Rules change, so confirm with your own servicer.

More recast guides