Calculate your new mortgage payment after a large lump-sum principal payment. Enter your mortgage balance and get new payment and payment savings instantly — no spreadsheet required.
Step 1. Enter your mortgage balance in the first field.
Step 2. Fill in lump sum payment, rate to complete the required inputs.
Step 3. The calculator instantly shows New Payment, Payment Savings, Balance After Recast based on the formula: New Payment = Reamortized balance after lump sum over remaining term.
With the default inputs loaded in the form, the calculator produces a starting result you can use as a baseline. Change one field at a time to compare a new scenario.
The Recast Mortgage Calculator works by applying the formula: New Payment = Reamortized balance after lump sum over remaining term. Each input plays a distinct role — small changes to mortgage balance can shift new payment significantly, which is why running multiple scenarios before making a decision is valuable.
To use this calculator effectively, gather accurate values for Mortgage Balance, Lump Sum Payment, Rate, Remaining Term. Estimates are fine for exploration, but the more precise your inputs, the more actionable the output. The calculator instantly returns New Payment, Payment Savings, Balance After Recast, giving you a clear picture of where you stand.
This type of mortgage calculation is commonly used in real planning scenarios — not just academic exercises. Whether you are comparing options, setting a target, or checking your current position, the Recast Mortgage Calculator gives you a reliable number to work from. Always revisit the calculation if any input changes significantly.
It calculates new payment, payment savings, balance after recast using the formula New Payment = Reamortized balance after lump sum over remaining term. The inputs required are mortgage balance, lump sum payment, rate, remaining term.
You need: Mortgage Balance; Lump Sum Payment; Rate; Remaining Term. Use accurate figures from your actual situation for the most useful result.
Results are mathematically precise given the inputs you provide. The formula used is: New Payment = Reamortized balance after lump sum over remaining term. Accuracy depends on how precise your input values are — estimates work for planning, but use exact figures for final decisions.
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Disclaimer: Results from this calculator are for informational and planning purposes only and do not constitute financial, legal, or professional advice. Always verify important calculations with a qualified professional.
