Mortgage Recast Calculator

Mortgage Recast Calculator is used to calculate how much you can save each month by recasting your existing mortgage. Recasting calculator will show you whether recasting is a good option and how much interest payment you save by recasting your existing mortgage.

Recasting Calculator

Remaining Balance
$
Interest Rate
Current Monthly Payment
$
Recasting Payment
$
Recasting Cost
$


Mortgage Recast Results

Recast Mortgage Balance:
$105,000.00
Monthly Payment:
$972.85
Total # Of Payments:
134
Start Date:
Dec, 2021
Payoff Date:
Jan, 2033
Total Interest Paid:
$25,361.97
Total Payment:
$130,361.97

Original Mortgage Vs. Mortgage Recast

Comparison Monthly Payment Total Interest
Original $1,115.43 $28,860.60
Recast $972.85 $25,361.97
Fees $0 $250
Savings $142.58 $3,248.62

Mortgage Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Dec, 2021 1 $350.00 $622.85 $972.85 $104,377.15
Jan, 2022 2 $347.92 $624.93 $972.85 $103,752.22
Feb, 2022 3 $345.84 $627.01 $972.85 $103,125.21
Mar, 2022 4 $343.75 $629.10 $972.85 $102,496.11
Apr, 2022 5 $341.65 $631.20 $972.85 $101,864.92
May, 2022 6 $339.55 $633.30 $972.85 $101,231.62
Jun, 2022 7 $337.44 $635.41 $972.85 $100,596.20
Jul, 2022 8 $335.32 $637.53 $972.85 $99,958.67
Aug, 2022 9 $333.20 $639.65 $972.85 $99,319.02
Sep, 2022 10 $331.06 $641.79 $972.85 $98,677.23
Oct, 2022 11 $328.92 $643.93 $972.85 $98,033.31
Nov, 2022 12 $326.78 $646.07 $972.85 $97,387.23
Dec, 2022 13 $324.62 $648.23 $972.85 $96,739.01
Jan, 2023 14 $322.46 $650.39 $972.85 $96,088.62
Feb, 2023 15 $320.30 $652.56 $972.85 $95,436.06
Mar, 2023 16 $318.12 $654.73 $972.85 $94,781.33
Apr, 2023 17 $315.94 $656.91 $972.85 $94,124.42
May, 2023 18 $313.75 $659.10 $972.85 $93,465.32
Jun, 2023 19 $311.55 $661.30 $972.85 $92,804.02
Jul, 2023 20 $309.35 $663.50 $972.85 $92,140.51
Aug, 2023 21 $307.14 $665.72 $972.85 $91,474.80
Sep, 2023 22 $304.92 $667.93 $972.85 $90,806.86
Oct, 2023 23 $302.69 $670.16 $972.85 $90,136.70
Nov, 2023 24 $300.46 $672.39 $972.85 $89,464.31
Dec, 2023 25 $298.21 $674.64 $972.85 $88,789.67
Jan, 2024 26 $295.97 $676.88 $972.85 $88,112.79
Feb, 2024 27 $293.71 $679.14 $972.85 $87,433.65
Mar, 2024 28 $291.45 $681.41 $972.85 $86,752.24
Apr, 2024 29 $289.17 $683.68 $972.85 $86,068.56
May, 2024 30 $286.90 $685.96 $972.85 $85,382.61
Jun, 2024 31 $284.61 $688.24 $972.85 $84,694.37
Jul, 2024 32 $282.31 $690.54 $972.85 $84,003.83
Aug, 2024 33 $280.01 $692.84 $972.85 $83,310.99
Sep, 2024 34 $277.70 $695.15 $972.85 $82,615.85
Oct, 2024 35 $275.39 $697.46 $972.85 $81,918.38
Nov, 2024 36 $273.06 $699.79 $972.85 $81,218.59
Dec, 2024 37 $270.73 $702.12 $972.85 $80,516.47
Jan, 2025 38 $268.39 $704.46 $972.85 $79,812.01
Feb, 2025 39 $266.04 $706.81 $972.85 $79,105.20
Mar, 2025 40 $263.68 $709.17 $972.85 $78,396.03
Apr, 2025 41 $261.32 $711.53 $972.85 $77,684.50
May, 2025 42 $258.95 $713.90 $972.85 $76,970.60
Jun, 2025 43 $256.57 $716.28 $972.85 $76,254.32
Jul, 2025 44 $254.18 $718.67 $972.85 $75,535.65
Aug, 2025 45 $251.79 $721.07 $972.85 $74,814.58
Sep, 2025 46 $249.38 $723.47 $972.85 $74,091.11
Oct, 2025 47 $246.97 $725.88 $972.85 $73,365.23
Nov, 2025 48 $244.55 $728.30 $972.85 $72,636.93
Dec, 2025 49 $242.12 $730.73 $972.85 $71,906.21
Jan, 2026 50 $239.69 $733.16 $972.85 $71,173.04
Feb, 2026 51 $237.24 $735.61 $972.85 $70,437.44
Mar, 2026 52 $234.79 $738.06 $972.85 $69,699.38
Apr, 2026 53 $232.33 $740.52 $972.85 $68,958.86
May, 2026 54 $229.86 $742.99 $972.85 $68,215.87
Jun, 2026 55 $227.39 $745.46 $972.85 $67,470.41
Jul, 2026 56 $224.90 $747.95 $972.85 $66,722.46
Aug, 2026 57 $222.41 $750.44 $972.85 $65,972.01
Sep, 2026 58 $219.91 $752.94 $972.85 $65,219.07
Oct, 2026 59 $217.40 $755.45 $972.85 $64,463.62
Nov, 2026 60 $214.88 $757.97 $972.85 $63,705.65
Dec, 2026 61 $212.35 $760.50 $972.85 $62,945.15
Jan, 2027 62 $209.82 $763.03 $972.85 $62,182.11
Feb, 2027 63 $207.27 $765.58 $972.85 $61,416.54
Mar, 2027 64 $204.72 $768.13 $972.85 $60,648.41
Apr, 2027 65 $202.16 $770.69 $972.85 $59,877.72
May, 2027 66 $199.59 $773.26 $972.85 $59,104.46
Jun, 2027 67 $197.01 $775.84 $972.85 $58,328.62
Jul, 2027 68 $194.43 $778.42 $972.85 $57,550.20
Aug, 2027 69 $191.83 $781.02 $972.85 $56,769.19
Sep, 2027 70 $189.23 $783.62 $972.85 $55,985.57
Oct, 2027 71 $186.62 $786.23 $972.85 $55,199.33
Nov, 2027 72 $184.00 $788.85 $972.85 $54,410.48
Dec, 2027 73 $181.37 $791.48 $972.85 $53,619.00
Jan, 2028 74 $178.73 $794.12 $972.85 $52,824.88
Feb, 2028 75 $176.08 $796.77 $972.85 $52,028.11
Mar, 2028 76 $173.43 $799.42 $972.85 $51,228.69
Apr, 2028 77 $170.76 $802.09 $972.85 $50,426.60
May, 2028 78 $168.09 $804.76 $972.85 $49,621.84
Jun, 2028 79 $165.41 $807.44 $972.85 $48,814.39
Jul, 2028 80 $162.71 $810.14 $972.85 $48,004.26
Aug, 2028 81 $160.01 $812.84 $972.85 $47,191.42
Sep, 2028 82 $157.30 $815.55 $972.85 $46,375.88
Oct, 2028 83 $154.59 $818.26 $972.85 $45,557.61
Nov, 2028 84 $151.86 $820.99 $972.85 $44,736.62
Dec, 2028 85 $149.12 $823.73 $972.85 $43,912.89
Jan, 2029 86 $146.38 $826.47 $972.85 $43,086.42
Feb, 2029 87 $143.62 $829.23 $972.85 $42,257.19
Mar, 2029 88 $140.86 $831.99 $972.85 $41,425.19
Apr, 2029 89 $138.08 $834.77 $972.85 $40,590.43
May, 2029 90 $135.30 $837.55 $972.85 $39,752.88
Jun, 2029 91 $132.51 $840.34 $972.85 $38,912.54
Jul, 2029 92 $129.71 $843.14 $972.85 $38,069.40
Aug, 2029 93 $126.90 $845.95 $972.85 $37,223.44
Sep, 2029 94 $124.08 $848.77 $972.85 $36,374.67
Oct, 2029 95 $121.25 $851.60 $972.85 $35,523.07
Nov, 2029 96 $118.41 $854.44 $972.85 $34,668.63
Dec, 2029 97 $115.56 $857.29 $972.85 $33,811.34
Jan, 2030 98 $112.70 $860.15 $972.85 $32,951.19
Feb, 2030 99 $109.84 $863.01 $972.85 $32,088.18
Mar, 2030 100 $106.96 $865.89 $972.85 $31,222.29
Apr, 2030 101 $104.07 $868.78 $972.85 $30,353.51
May, 2030 102 $101.18 $871.67 $972.85 $29,481.84
Jun, 2030 103 $98.27 $874.58 $972.85 $28,607.26
Jul, 2030 104 $95.36 $877.49 $972.85 $27,729.77
Aug, 2030 105 $92.43 $880.42 $972.85 $26,849.35
Sep, 2030 106 $89.50 $883.35 $972.85 $25,966.00
Oct, 2030 107 $86.55 $886.30 $972.85 $25,079.70
Nov, 2030 108 $83.60 $889.25 $972.85 $24,190.45
Dec, 2030 109 $80.63 $892.22 $972.85 $23,298.24
Jan, 2031 110 $77.66 $895.19 $972.85 $22,403.05
Feb, 2031 111 $74.68 $898.17 $972.85 $21,504.87
Mar, 2031 112 $71.68 $901.17 $972.85 $20,603.71
Apr, 2031 113 $68.68 $904.17 $972.85 $19,699.53
May, 2031 114 $65.67 $907.19 $972.85 $18,792.35
Jun, 2031 115 $62.64 $910.21 $972.85 $17,882.14
Jul, 2031 116 $59.61 $913.24 $972.85 $16,968.90
Aug, 2031 117 $56.56 $916.29 $972.85 $16,052.61
Sep, 2031 118 $53.51 $919.34 $972.85 $15,133.27
Oct, 2031 119 $50.44 $922.41 $972.85 $14,210.86
Nov, 2031 120 $47.37 $925.48 $972.85 $13,285.38
Dec, 2031 121 $44.28 $928.57 $972.85 $12,356.81
Jan, 2032 122 $41.19 $931.66 $972.85 $11,425.15
Feb, 2032 123 $38.08 $934.77 $972.85 $10,490.38
Mar, 2032 124 $34.97 $937.88 $972.85 $9,552.50
Apr, 2032 125 $31.84 $941.01 $972.85 $8,611.49
May, 2032 126 $28.70 $944.15 $972.85 $7,667.35
Jun, 2032 127 $25.56 $947.29 $972.85 $6,720.05
Jul, 2032 128 $22.40 $950.45 $972.85 $5,769.60
Aug, 2032 129 $19.23 $953.62 $972.85 $4,815.99
Sep, 2032 130 $16.05 $956.80 $972.85 $3,859.19
Oct, 2032 131 $12.86 $959.99 $972.85 $2,899.20
Nov, 2032 132 $9.66 $963.19 $972.85 $1,936.02
Dec, 2032 133 $6.45 $966.40 $972.85 $969.62
Jan, 2033 134 $3.23 $969.62 $972.85 $0.00

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