A recast lowers your payment but keeps your original payoff date. Three numbers is enough to tell you which is cheaper.
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Interest you would still pay
| Do nothing | Recast | Pay down, no recast | |
|---|---|---|---|
| Monthly payment | — | — | — |
| Interest left | — | — | — |
| Paid off | — | — | — |
| Cash you keep monthly | $0 | — | $0 |
| Year | Principal | Interest | Balance |
|---|
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Take it with you
A PDF with all three scenarios, the full schedule, and the questions to ask your servicer before you send the money.
No account needed. One email, no list.
Estimates based on the numbers you enter. Not financial advice and not a commitment from any lender. Recast eligibility, minimum lump sum, and fees are set by your servicer and vary by loan type — FHA, VA, and USDA loans generally cannot be recast. Confirm with your servicer before paying.