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Competitive Home Lending
Home
Mortgage Rates
Home Loans
  • Loan Programs
  • Bridge Loans
  • Construction Loan
  • Conventional Loans
  • FHA
  • HELOC
  • Refinance
  • Reverse Mortgage
  • VA Loan
Mortgage Calculators
  • Closing Costs Calculator
  • Down Payment Calculator
  • Investment Property Calc
  • Lender Credit Calculator
  • More Buying Power Calc
  • Mortgage Recast
  • Temporary Rate Buydown
  • Title Insurance Cost Calc
APPLY NOW
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  • Home
  • Mortgage Rates
  • Home Loans
    • Loan Programs
    • Bridge Loans
    • Construction Loan
    • Conventional Loans
    • FHA
    • HELOC
    • Refinance
    • Reverse Mortgage
    • VA Loan
  • Mortgage Calculators
    • Closing Costs Calculator
    • Down Payment Calculator
    • Investment Property Calc
    • Lender Credit Calculator
    • More Buying Power Calc
    • Mortgage Recast
    • Temporary Rate Buydown
    • Title Insurance Cost Calc
  • APPLY NOW
  • Home
  • Mortgage Rates
  • Home Loans
    • Loan Programs
    • Bridge Loans
    • Construction Loan
    • Conventional Loans
    • FHA
    • HELOC
    • Refinance
    • Reverse Mortgage
    • VA Loan
  • Mortgage Calculators
    • Closing Costs Calculator
    • Down Payment Calculator
    • Investment Property Calc
    • Lender Credit Calculator
    • More Buying Power Calc
    • Mortgage Recast
    • Temporary Rate Buydown
    • Title Insurance Cost Calc
  • APPLY NOW

Mortgage Recast Calculator

Mortgage Recast Information

How many times can I do a mortgage recast?

You can do a mortgage recast as many times as you would like. Check with your current mortgage loan servicer for restrictions. 

Is there a cost to recast my mortgage?

There is a mortgage recast fee. The cost to recast varies for each loan servicer. It is best to contact your servicer for details. 

Should I recast my mortgage?

A mortgage recast lowers your monthly payment by reducing your principal balance and keeping your loan payoff date  unchanged. This can be a better option than a mortgage refinance by eliminating mortgage closing costs.

Learn More

Can I recast my home loan?

Government, private investors, jumbo loans and high balance loans do NOT allow recasting. Verify with your servicer for exceptions.  

How to Recast

How do I request a mortgage recast?

A written request must  be summited to your servicer to recast your mortgage.  

Mortgage Recast

 A mortgage recast is a process in which the terms of an existing mortgage are adjusted without changing the interest rate or loan amount. Typically, a borrower makes a large lump-sum payment towards the principal balance of the mortgage, and the lender then recalculates the monthly payments based on the reduced outstanding loan amount. This results in a lower monthly payment, making it a useful option for homeowners who want to lower their monthly financial burden without the need to refinance or alter the interest rate. 


Mortgage recasting is different from refinancing, as it does not involve obtaining a new loan with different terms. Instead, it allows borrowers to leverage a substantial payment to modify the terms of their existing mortgage. Compare current mortgage rates to the benefits of a recast mortgage. 

Current Mortgage Rates

Benefits of a Mortgage Recast

Use our free mortgage recast calculator and our free mortgage calculator with current mortgage rates to compare the savings between a recast and a refinance.  


Contact us if you want a personalized breakdown of your mortgage loan options.   

Contact Us

Looking to lower your monthly payments without refinancing?

Lower Your Monthly Payment, Keep Your Rate

A mortgage recast is a smart way to reduce your monthly payment by making a lump sum payment to your mortgage principal. This can save you money over the life of your loan without affecting your current low interest rate.


However, if you don't have a lump sum available, a Home Equity Line of Credit (HELOC) can be a valuable tool. A HELOC allows you to borrow against your home's equity to consolidate high-interest debt or fund home improvements. This can significantly reduce your monthly payments while preserving your low mortgage rate.


Ready to explore your options? Contact us today for a personalized consultation. 

HELOC vs. Recast: A Quick Comparison

 A HELOC can be a powerful tool for debt consolidation. By consolidating high-interest debt, like credit card balances or personal loans, into a lower-interest HELOC, you can significantly reduce your monthly payments. 

Free HELOC Quote

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