Recast Calculator

Recast Calculator to calculate how much money you can save by recasting your current mortgage. By making an lump sum extra payment, you may save money in the long term on interest payments for your home mortgage.

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

Mortgage Recast Results
Recast Mortgage Balance:			$143,000.00
Monthly Payment:			$1,055.74
Total # Of Payments:			178
Start Date:			Aug, 2022
Payoff Date:			May, 2037
Total Interest Paid:			$44,921.10
Total Payment:			$187,921.10
Original Mortgage Vs. Mortgage Recast
Comparison		Monthly Payment		Total Interest
Original		$1,256.45		$53,317.85
Recast		$1,055.74		$44,921.10
Fees		$0		$450
Savings		$200.71		$7,946.75
Mortgage Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Aug, 2022	1	$458.79	$596.94	$1,055.74	$142,403.06
Sep, 2022	2	$456.88	$598.86	$1,055.74	$141,804.20
Oct, 2022	3	$454.96	$600.78	$1,055.74	$141,203.41
Nov, 2022	4	$453.03	$602.71	$1,055.74	$140,600.70
Dec, 2022	5	$451.09	$604.64	$1,055.74	$139,996.06
Jan, 2023	6	$449.15	$606.58	$1,055.74	$139,389.48
Feb, 2023	7	$447.21	$608.53	$1,055.74	$138,780.95
Mar, 2023	8	$445.26	$610.48	$1,055.74	$138,170.47
Apr, 2023	9	$443.30	$612.44	$1,055.74	$137,558.03
May, 2023	10	$441.33	$614.40	$1,055.74	$136,943.63
Jun, 2023	11	$439.36	$616.38	$1,055.74	$136,327.25
Jul, 2023	12	$437.38	$618.35	$1,055.74	$135,708.90
Aug, 2023	13	$435.40	$620.34	$1,055.74	$135,088.56
Sep, 2023	14	$433.41	$622.33	$1,055.74	$134,466.23
Oct, 2023	15	$431.41	$624.32	$1,055.74	$133,841.91
Nov, 2023	16	$429.41	$626.33	$1,055.74	$133,215.58
Dec, 2023	17	$427.40	$628.34	$1,055.74	$132,587.24
Jan, 2024	18	$425.38	$630.35	$1,055.74	$131,956.89
Feb, 2024	19	$423.36	$632.37	$1,055.74	$131,324.52
Mar, 2024	20	$421.33	$634.40	$1,055.74	$130,690.11
Apr, 2024	21	$419.30	$636.44	$1,055.74	$130,053.67
May, 2024	22	$417.26	$638.48	$1,055.74	$129,415.19
Jun, 2024	23	$415.21	$640.53	$1,055.74	$128,774.66
Jul, 2024	24	$413.15	$642.58	$1,055.74	$128,132.08
Aug, 2024	25	$411.09	$644.65	$1,055.74	$127,487.43
Sep, 2024	26	$409.02	$646.71	$1,055.74	$126,840.72
Oct, 2024	27	$406.95	$648.79	$1,055.74	$126,191.93
Nov, 2024	28	$404.87	$650.87	$1,055.74	$125,541.06
Dec, 2024	29	$402.78	$652.96	$1,055.74	$124,888.10
Jan, 2025	30	$400.68	$655.05	$1,055.74	$124,233.05
Feb, 2025	31	$398.58	$657.16	$1,055.74	$123,575.89
Mar, 2025	32	$396.47	$659.26	$1,055.74	$122,916.63
Apr, 2025	33	$394.36	$661.38	$1,055.74	$122,255.25
May, 2025	34	$392.24	$663.50	$1,055.74	$121,591.75
Jun, 2025	35	$390.11	$665.63	$1,055.74	$120,926.12
Jul, 2025	36	$387.97	$667.77	$1,055.74	$120,258.35
Aug, 2025	37	$385.83	$669.91	$1,055.74	$119,588.44
Sep, 2025	38	$383.68	$672.06	$1,055.74	$118,916.39
Oct, 2025	39	$381.52	$674.21	$1,055.74	$118,242.17
Nov, 2025	40	$379.36	$676.38	$1,055.74	$117,565.80
Dec, 2025	41	$377.19	$678.55	$1,055.74	$116,887.25
Jan, 2026	42	$375.01	$680.72	$1,055.74	$116,206.53
Feb, 2026	43	$372.83	$682.91	$1,055.74	$115,523.62
Mar, 2026	44	$370.64	$685.10	$1,055.74	$114,838.52
Apr, 2026	45	$368.44	$687.30	$1,055.74	$114,151.23
May, 2026	46	$366.24	$689.50	$1,055.74	$113,461.73
Jun, 2026	47	$364.02	$691.71	$1,055.74	$112,770.01
Jul, 2026	48	$361.80	$693.93	$1,055.74	$112,076.08
Aug, 2026	49	$359.58	$696.16	$1,055.74	$111,379.92
Sep, 2026	50	$357.34	$698.39	$1,055.74	$110,681.53
Oct, 2026	51	$355.10	$700.63	$1,055.74	$109,980.89
Nov, 2026	52	$352.86	$702.88	$1,055.74	$109,278.01
Dec, 2026	53	$350.60	$705.14	$1,055.74	$108,572.88
Jan, 2027	54	$348.34	$707.40	$1,055.74	$107,865.48
Feb, 2027	55	$346.07	$709.67	$1,055.74	$107,155.81
Mar, 2027	56	$343.79	$711.94	$1,055.74	$106,443.86
Apr, 2027	57	$341.51	$714.23	$1,055.74	$105,729.64
May, 2027	58	$339.22	$716.52	$1,055.74	$105,013.12
Jun, 2027	59	$336.92	$718.82	$1,055.74	$104,294.30
Jul, 2027	60	$334.61	$721.13	$1,055.74	$103,573.17
Aug, 2027	61	$332.30	$723.44	$1,055.74	$102,849.73
Sep, 2027	62	$329.98	$725.76	$1,055.74	$102,123.97
Oct, 2027	63	$327.65	$728.09	$1,055.74	$101,395.88
Nov, 2027	64	$325.31	$730.42	$1,055.74	$100,665.46
Dec, 2027	65	$322.97	$732.77	$1,055.74	$99,932.69
Jan, 2028	66	$320.62	$735.12	$1,055.74	$99,197.57
Feb, 2028	67	$318.26	$737.48	$1,055.74	$98,460.09
Mar, 2028	68	$315.89	$739.84	$1,055.74	$97,720.25
Apr, 2028	69	$313.52	$742.22	$1,055.74	$96,978.03
May, 2028	70	$311.14	$744.60	$1,055.74	$96,233.43
Jun, 2028	71	$308.75	$746.99	$1,055.74	$95,486.44
Jul, 2028	72	$306.35	$749.38	$1,055.74	$94,737.06
Aug, 2028	73	$303.95	$751.79	$1,055.74	$93,985.27
Sep, 2028	74	$301.54	$754.20	$1,055.74	$93,231.07
Oct, 2028	75	$299.12	$756.62	$1,055.74	$92,474.45
Nov, 2028	76	$296.69	$759.05	$1,055.74	$91,715.40
Dec, 2028	77	$294.25	$761.48	$1,055.74	$90,953.92
Jan, 2029	78	$291.81	$763.93	$1,055.74	$90,189.99
Feb, 2029	79	$289.36	$766.38	$1,055.74	$89,423.62
Mar, 2029	80	$286.90	$768.84	$1,055.74	$88,654.78
Apr, 2029	81	$284.43	$771.30	$1,055.74	$87,883.48
May, 2029	82	$281.96	$773.78	$1,055.74	$87,109.70
Jun, 2029	83	$279.48	$776.26	$1,055.74	$86,333.44
Jul, 2029	84	$276.99	$778.75	$1,055.74	$85,554.69
Aug, 2029	85	$274.49	$781.25	$1,055.74	$84,773.44
Sep, 2029	86	$271.98	$783.76	$1,055.74	$83,989.69
Oct, 2029	87	$269.47	$786.27	$1,055.74	$83,203.42
Nov, 2029	88	$266.94	$788.79	$1,055.74	$82,414.63
Dec, 2029	89	$264.41	$791.32	$1,055.74	$81,623.30
Jan, 2030	90	$261.87	$793.86	$1,055.74	$80,829.44
Feb, 2030	91	$259.33	$796.41	$1,055.74	$80,033.03
Mar, 2030	92	$256.77	$798.96	$1,055.74	$79,234.07
Apr, 2030	93	$254.21	$801.53	$1,055.74	$78,432.54
May, 2030	94	$251.64	$804.10	$1,055.74	$77,628.44
Jun, 2030	95	$249.06	$806.68	$1,055.74	$76,821.76
Jul, 2030	96	$246.47	$809.27	$1,055.74	$76,012.50
Aug, 2030	97	$243.87	$811.86	$1,055.74	$75,200.64
Sep, 2030	98	$241.27	$814.47	$1,055.74	$74,386.17
Oct, 2030	99	$238.66	$817.08	$1,055.74	$73,569.09
Nov, 2030	100	$236.03	$819.70	$1,055.74	$72,749.38
Dec, 2030	101	$233.40	$822.33	$1,055.74	$71,927.05
Jan, 2031	102	$230.77	$824.97	$1,055.74	$71,102.08
Feb, 2031	103	$228.12	$827.62	$1,055.74	$70,274.46
Mar, 2031	104	$225.46	$830.27	$1,055.74	$69,444.19
Apr, 2031	105	$222.80	$832.94	$1,055.74	$68,611.25
May, 2031	106	$220.13	$835.61	$1,055.74	$67,775.65
Jun, 2031	107	$217.45	$838.29	$1,055.74	$66,937.36
Jul, 2031	108	$214.76	$840.98	$1,055.74	$66,096.38
Aug, 2031	109	$212.06	$843.68	$1,055.74	$65,252.70
Sep, 2031	110	$209.35	$846.38	$1,055.74	$64,406.32
Oct, 2031	111	$206.64	$849.10	$1,055.74	$63,557.22
Nov, 2031	112	$203.91	$851.82	$1,055.74	$62,705.39
Dec, 2031	113	$201.18	$854.56	$1,055.74	$61,850.84
Jan, 2032	114	$198.44	$857.30	$1,055.74	$60,993.54
Feb, 2032	115	$195.69	$860.05	$1,055.74	$60,133.49
Mar, 2032	116	$192.93	$862.81	$1,055.74	$59,270.68
Apr, 2032	117	$190.16	$865.58	$1,055.74	$58,405.10
May, 2032	118	$187.38	$868.35	$1,055.74	$57,536.75
Jun, 2032	119	$184.60	$871.14	$1,055.74	$56,665.61
Jul, 2032	120	$181.80	$873.93	$1,055.74	$55,791.68
Aug, 2032	121	$179.00	$876.74	$1,055.74	$54,914.94
Sep, 2032	122	$176.19	$879.55	$1,055.74	$54,035.39
Oct, 2032	123	$173.36	$882.37	$1,055.74	$53,153.01
Nov, 2032	124	$170.53	$885.20	$1,055.74	$52,267.81
Dec, 2032	125	$167.69	$888.04	$1,055.74	$51,379.77
Jan, 2033	126	$164.84	$890.89	$1,055.74	$50,488.87
Feb, 2033	127	$161.99	$893.75	$1,055.74	$49,595.12
Mar, 2033	128	$159.12	$896.62	$1,055.74	$48,698.50
Apr, 2033	129	$156.24	$899.50	$1,055.74	$47,799.01
May, 2033	130	$153.36	$902.38	$1,055.74	$46,896.63
Jun, 2033	131	$150.46	$905.28	$1,055.74	$45,991.35
Jul, 2033	132	$147.56	$908.18	$1,055.74	$45,083.17
Aug, 2033	133	$144.64	$911.09	$1,055.74	$44,172.07
Sep, 2033	134	$141.72	$914.02	$1,055.74	$43,258.06
Oct, 2033	135	$138.79	$916.95	$1,055.74	$42,341.11
Nov, 2033	136	$135.84	$919.89	$1,055.74	$41,421.21
Dec, 2033	137	$132.89	$922.84	$1,055.74	$40,498.37
Jan, 2034	138	$129.93	$925.80	$1,055.74	$39,572.57
Feb, 2034	139	$126.96	$928.77	$1,055.74	$38,643.79
Mar, 2034	140	$123.98	$931.75	$1,055.74	$37,712.04
Apr, 2034	141	$120.99	$934.74	$1,055.74	$36,777.29
May, 2034	142	$117.99	$937.74	$1,055.74	$35,839.55
Jun, 2034	143	$114.99	$940.75	$1,055.74	$34,898.80
Jul, 2034	144	$111.97	$943.77	$1,055.74	$33,955.03
Aug, 2034	145	$108.94	$946.80	$1,055.74	$33,008.23
Sep, 2034	146	$105.90	$949.84	$1,055.74	$32,058.40
Oct, 2034	147	$102.85	$952.88	$1,055.74	$31,105.51
Nov, 2034	148	$99.80	$955.94	$1,055.74	$30,149.57
Dec, 2034	149	$96.73	$959.01	$1,055.74	$29,190.57
Jan, 2035	150	$93.65	$962.08	$1,055.74	$28,228.48
Feb, 2035	151	$90.57	$965.17	$1,055.74	$27,263.31
Mar, 2035	152	$87.47	$968.27	$1,055.74	$26,295.05
Apr, 2035	153	$84.36	$971.37	$1,055.74	$25,323.67
May, 2035	154	$81.25	$974.49	$1,055.74	$24,349.18
Jun, 2035	155	$78.12	$977.62	$1,055.74	$23,371.57
Jul, 2035	156	$74.98	$980.75	$1,055.74	$22,390.81
Aug, 2035	157	$71.84	$983.90	$1,055.74	$21,406.92
Sep, 2035	158	$68.68	$987.06	$1,055.74	$20,419.86
Oct, 2035	159	$65.51	$990.22	$1,055.74	$19,429.64
Nov, 2035	160	$62.34	$993.40	$1,055.74	$18,436.24
Dec, 2035	161	$59.15	$996.59	$1,055.74	$17,439.65
Jan, 2036	162	$55.95	$999.78	$1,055.74	$16,439.87
Feb, 2036	163	$52.74	$1,002.99	$1,055.74	$15,436.87
Mar, 2036	164	$49.53	$1,006.21	$1,055.74	$14,430.66
Apr, 2036	165	$46.30	$1,009.44	$1,055.74	$13,421.23
May, 2036	166	$43.06	$1,012.68	$1,055.74	$12,408.55
Jun, 2036	167	$39.81	$1,015.93	$1,055.74	$11,392.62
Jul, 2036	168	$36.55	$1,019.19	$1,055.74	$10,373.44
Aug, 2036	169	$33.28	$1,022.46	$1,055.74	$9,350.98
Sep, 2036	170	$30.00	$1,025.74	$1,055.74	$8,325.25
Oct, 2036	171	$26.71	$1,029.03	$1,055.74	$7,296.22
Nov, 2036	172	$23.41	$1,032.33	$1,055.74	$6,263.89
Dec, 2036	173	$20.10	$1,035.64	$1,055.74	$5,228.25
Jan, 2037	174	$16.77	$1,038.96	$1,055.74	$4,189.29
Feb, 2037	175	$13.44	$1,042.30	$1,055.74	$3,146.99
Mar, 2037	176	$10.10	$1,045.64	$1,055.74	$2,101.35
Apr, 2037	177	$6.74	$1,048.99	$1,055.74	$1,052.36
May, 2037	178	$3.38	$1,052.36	$1,055.74	$0.00

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