Wells Fargo Mortgage Recast Calculator
Wells Fargo describes a recast option for jumbo loans. A principal payment of $10,000 or more starts the recalculation, and Wells Fargo says no transaction fee is required. On a $1,000,000 jumbo loan at 6.5% with 28 years left, that $10,000 lowers the payment by $64.70 a month, or 1.0%.
The calculator below works out your own number. The published rules follow it, opened on 2026-10-18.
What Wells Fargo publishes about a recast
- Wells Fargo describes a recast option for jumbo loans.
- Wells Fargo's recast starts with a principal payment of $10,000 or more.
- For its jumbo loan recast option, Wells Fargo recalculates monthly principal and interest on the reduced balance, at the then-current rate, over the remaining term, after a principal payment of $10,000 or more.
- Wells Fargo says no transaction fee is required for its jumbo loan recast option.
- Wells Fargo warns that you may pay more interest over the full term than if you made the same principal payment without a recast.
- Wells Fargo says timing and other requirements apply.
- Wells Fargo says eligibility for the jumbo loan recast is confirmed with a home mortgage consultant.
Its pages do not say whether other loan types can be recast, so ask. For the same facts at other lenders, see recast fees and rules by lender.
What a jumbo lump sum does to the payment
The example loan: $1,000,000 balance, 6.5%, 28 years left, a current payment of $6,470.16 (principal and interest). Escrow and fees are left out.
| Lump sum | New payment | You save a month | Share of payment |
|---|---|---|---|
| $10,000 | $6,405.46 | $64.70 | 1.0% |
| $50,000 | $6,146.65 | $323.51 | 5.0% |
| $100,000 | $5,823.14 | $647.02 | 10.0% |
| $250,000 | $4,852.62 | $1,617.54 | 25.0% |
On a loan this size the $10,000 starting point is 1% of the balance, so it lowers the payment by about 1%. A recast that changes your budget usually takes a lump sum in the tens or hundreds of thousands.
Why the rate you use matters
Wells Fargo says it uses your then-current interest rate. If your rate has moved, the same lump sum gives a different payment. Here is a $900,000 balance after the lump sum, with 28 years left:
| Rate | Payment on $900,000 |
|---|---|
| 5.5% | $5,255.69 |
| 6.5% | $5,823.14 |
| 7.5% | $6,415.81 |
Enter the rate you expect to have on the recast date in the calculator, not only the rate on your last statement.
Before you call
- Know your balance, rate, months left and loan type.
- Ask whether your loan can be recast, and what timing and other requirements apply.
- Ask what the new payment would be at the rate that will apply, and when it starts.
- Compare the recast with using the same money another way in recast vs extra principal payment.
Frequently asked questions
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.
Does Wells Fargo charge a fee to recast?
Wells Fargo says no transaction fee is required for its jumbo loan recast option.
Is the Wells Fargo recast only for jumbo loans?
Wells Fargo describes a recast option for jumbo loans. Its pages do not say whether other loan types can be recast, so ask.
Which rate does the new payment use?
For its jumbo loan recast option, Wells Fargo recalculates monthly principal and interest on the reduced balance, at the then-current rate, over the remaining term. If the rate on your loan has moved since closing, use today's rate in the calculator.
Is a recast the cheapest way to use a lump sum?
Not always. Wells Fargo warns that you may pay more interest over the full term than if you made the same principal payment without a recast. Compare both paths in the recast vs extra principal payment guide.
Are there timing rules?
Wells Fargo says timing and other requirements apply, and a mortgage consultant explains them when you ask. The pages do not list them.
Sources
Every figure on this page comes from the pages below. Checked 2026-10-18. Rules change, so confirm with your own servicer.
- Wells Fargo: Maximizing cash flow while buying a home ($10,000 or more, then-current rate, no transaction fee, interest warning)
- Wells Fargo: Jumbo loan (recast option for jumbo loans, eligibility by phone, timing)
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.
- Bank of America Mortgage Recast Calculator - Eligibility, timing and an estimate the lender will not give you.