Mortgage Recast vs Refinance Calculator
Got a lump sum to put toward your mortgage, or thinking about refinancing? Compare both side by side — new payment, monthly savings, refinance break-even, and lifetime interest.
How this works
A recast keeps your current interest rate and payoff date. You make a large one-time principal payment, the lender re-amortizes the balance over your remaining term, and your monthly payment drops — usually for a small flat fee instead of closing costs. A refinance replaces your loan entirely at a new rate and term, with closing costs you have to earn back through a monthly-savings break-even.
This tool shows both: the recast payment and interest saved, and the refinance payment, break-even months, and lifetime interest — so you can compare cash flow against total cost.