Recast vs. Refinance Calculator

Compare a recast with refinancing after making the same principal contribution in both options.

Your estimate

New monthly P&I: $1,761.50
Comparison monthly P&I: $1,890.58
Monthly payment reduction: $129.08
Simple payment break-even: 32.5 months
Interest and fee savings at horizon: $10,296.54
Comparison balance at horizon: $240,360.17
New balance at horizon: $236,706.53
New loan total interest: $248,449.38
Comparison total interest: $287,174.02

Refinanced loanRecast loan

Starting values are illustrative, not live quotes. Simple break-even divides fees by the payment reduction; it is not an economic return. Horizon savings compare interest plus fees, including financed fees once, and exclude taxes, insurance, discounting and opportunity cost. Compare balances as well as payments.

Payment schedule

Payment schedule
Month	Payment	Principal	Interest	Balance
1	$1,761.50	$419.83	$1,341.67	$279,580.17
2	$1,761.50	$421.84	$1,339.65	$279,158.33
3	$1,761.50	$423.86	$1,337.63	$278,734.46
4	$1,761.50	$425.90	$1,335.60	$278,308.57
5	$1,761.50	$427.94	$1,333.56	$277,880.63
6	$1,761.50	$429.99	$1,331.51	$277,450.64
7	$1,761.50	$432.05	$1,329.45	$277,018.60
8	$1,761.50	$434.12	$1,327.38	$276,584.48
9	$1,761.50	$436.20	$1,325.30	$276,148.28
10	$1,761.50	$438.29	$1,323.21	$275,709.99
11	$1,761.50	$440.39	$1,321.11	$275,269.61
12	$1,761.50	$442.50	$1,319.00	$274,827.11
13	$1,761.50	$444.62	$1,316.88	$274,382.49
14	$1,761.50	$446.75	$1,314.75	$273,935.74
15	$1,761.50	$448.89	$1,312.61	$273,486.85
16	$1,761.50	$451.04	$1,310.46	$273,035.81
17	$1,761.50	$453.20	$1,308.30	$272,582.61
18	$1,761.50	$455.37	$1,306.13	$272,127.24
19	$1,761.50	$457.55	$1,303.94	$271,669.68
20	$1,761.50	$459.75	$1,301.75	$271,209.94
21	$1,761.50	$461.95	$1,299.55	$270,747.99
22	$1,761.50	$464.16	$1,297.33	$270,283.82
23	$1,761.50	$466.39	$1,295.11	$269,817.44
24	$1,761.50	$468.62	$1,292.88	$269,348.81
25	$1,761.50	$470.87	$1,290.63	$268,877.94
26	$1,761.50	$473.12	$1,288.37	$268,404.82
27	$1,761.50	$475.39	$1,286.11	$267,929.43
28	$1,761.50	$477.67	$1,283.83	$267,451.76
29	$1,761.50	$479.96	$1,281.54	$266,971.80
30	$1,761.50	$482.26	$1,279.24	$266,489.54
31	$1,761.50	$484.57	$1,276.93	$266,004.97
32	$1,761.50	$486.89	$1,274.61	$265,518.08
33	$1,761.50	$489.22	$1,272.27	$265,028.86
34	$1,761.50	$491.57	$1,269.93	$264,537.29
35	$1,761.50	$493.92	$1,267.57	$264,043.37
36	$1,761.50	$496.29	$1,265.21	$263,547.08
37	$1,761.50	$498.67	$1,262.83	$263,048.41
38	$1,761.50	$501.06	$1,260.44	$262,547.35
39	$1,761.50	$503.46	$1,258.04	$262,043.89
40	$1,761.50	$505.87	$1,255.63	$261,538.02
41	$1,761.50	$508.29	$1,253.20	$261,029.73
42	$1,761.50	$510.73	$1,250.77	$260,519.00
43	$1,761.50	$513.18	$1,248.32	$260,005.82
44	$1,761.50	$515.64	$1,245.86	$259,490.18
45	$1,761.50	$518.11	$1,243.39	$258,972.08
46	$1,761.50	$520.59	$1,240.91	$258,451.49
47	$1,761.50	$523.08	$1,238.41	$257,928.40
48	$1,761.50	$525.59	$1,235.91	$257,402.81
49	$1,761.50	$528.11	$1,233.39	$256,874.70
50	$1,761.50	$530.64	$1,230.86	$256,344.06
51	$1,761.50	$533.18	$1,228.32	$255,810.88
52	$1,761.50	$535.74	$1,225.76	$255,275.14
53	$1,761.50	$538.30	$1,223.19	$254,736.84
54	$1,761.50	$540.88	$1,220.61	$254,195.95
55	$1,761.50	$543.48	$1,218.02	$253,652.48
56	$1,761.50	$546.08	$1,215.42	$253,106.40
57	$1,761.50	$548.70	$1,212.80	$252,557.70
58	$1,761.50	$551.33	$1,210.17	$252,006.37
59	$1,761.50	$553.97	$1,207.53	$251,452.41
60	$1,761.50	$556.62	$1,204.88	$250,895.78
61	$1,761.50	$559.29	$1,202.21	$250,336.50
62	$1,761.50	$561.97	$1,199.53	$249,774.53
63	$1,761.50	$564.66	$1,196.84	$249,209.87
64	$1,761.50	$567.37	$1,194.13	$248,642.50
65	$1,761.50	$570.09	$1,191.41	$248,072.41
66	$1,761.50	$572.82	$1,188.68	$247,499.59
67	$1,761.50	$575.56	$1,185.94	$246,924.03
68	$1,761.50	$578.32	$1,183.18	$246,345.71
69	$1,761.50	$581.09	$1,180.41	$245,764.62
70	$1,761.50	$583.88	$1,177.62	$245,180.74
71	$1,761.50	$586.67	$1,174.82	$244,594.07
72	$1,761.50	$589.48	$1,172.01	$244,004.59
73	$1,761.50	$592.31	$1,169.19	$243,412.28
74	$1,761.50	$595.15	$1,166.35	$242,817.13
75	$1,761.50	$598.00	$1,163.50	$242,219.13
76	$1,761.50	$600.86	$1,160.63	$241,618.27
77	$1,761.50	$603.74	$1,157.75	$241,014.52
78	$1,761.50	$606.64	$1,154.86	$240,407.89
79	$1,761.50	$609.54	$1,151.95	$239,798.34
80	$1,761.50	$612.46	$1,149.03	$239,185.88
81	$1,761.50	$615.40	$1,146.10	$238,570.48
82	$1,761.50	$618.35	$1,143.15	$237,952.13
83	$1,761.50	$621.31	$1,140.19	$237,330.82
84	$1,761.50	$624.29	$1,137.21	$236,706.53
85	$1,761.50	$627.28	$1,134.22	$236,079.25
86	$1,761.50	$630.28	$1,131.21	$235,448.97
87	$1,761.50	$633.30	$1,128.19	$234,815.66
88	$1,761.50	$636.34	$1,125.16	$234,179.32
89	$1,761.50	$639.39	$1,122.11	$233,539.94
90	$1,761.50	$642.45	$1,119.05	$232,897.48
91	$1,761.50	$645.53	$1,115.97	$232,251.95
92	$1,761.50	$648.62	$1,112.87	$231,603.33
93	$1,761.50	$651.73	$1,109.77	$230,951.60
94	$1,761.50	$654.85	$1,106.64	$230,296.74
95	$1,761.50	$657.99	$1,103.51	$229,638.75
96	$1,761.50	$661.15	$1,100.35	$228,977.60
97	$1,761.50	$664.31	$1,097.18	$228,313.29
98	$1,761.50	$667.50	$1,094.00	$227,645.79
99	$1,761.50	$670.70	$1,090.80	$226,975.10
100	$1,761.50	$673.91	$1,087.59	$226,301.19
101	$1,761.50	$677.14	$1,084.36	$225,624.05
102	$1,761.50	$680.38	$1,081.12	$224,943.67
103	$1,761.50	$683.64	$1,077.86	$224,260.03
104	$1,761.50	$686.92	$1,074.58	$223,573.11
105	$1,761.50	$690.21	$1,071.29	$222,882.90
106	$1,761.50	$693.52	$1,067.98	$222,189.38
107	$1,761.50	$696.84	$1,064.66	$221,492.54
108	$1,761.50	$700.18	$1,061.32	$220,792.36
109	$1,761.50	$703.53	$1,057.96	$220,088.82
110	$1,761.50	$706.91	$1,054.59	$219,381.92
111	$1,761.50	$710.29	$1,051.21	$218,671.63
112	$1,761.50	$713.70	$1,047.80	$217,957.93
113	$1,761.50	$717.12	$1,044.38	$217,240.81
114	$1,761.50	$720.55	$1,040.95	$216,520.26
115	$1,761.50	$724.01	$1,037.49	$215,796.26
116	$1,761.50	$727.47	$1,034.02	$215,068.78
117	$1,761.50	$730.96	$1,030.54	$214,337.82
118	$1,761.50	$734.46	$1,027.04	$213,603.36
119	$1,761.50	$737.98	$1,023.52	$212,865.38
120	$1,761.50	$741.52	$1,019.98	$212,123.86
121	$1,761.50	$745.07	$1,016.43	$211,378.79
122	$1,761.50	$748.64	$1,012.86	$210,630.15
123	$1,761.50	$752.23	$1,009.27	$209,877.92
124	$1,761.50	$755.83	$1,005.67	$209,122.09
125	$1,761.50	$759.45	$1,002.04	$208,362.63
126	$1,761.50	$763.09	$998.40	$207,599.54
127	$1,761.50	$766.75	$994.75	$206,832.79
128	$1,761.50	$770.42	$991.07	$206,062.36
129	$1,761.50	$774.12	$987.38	$205,288.25
130	$1,761.50	$777.83	$983.67	$204,510.42
131	$1,761.50	$781.55	$979.95	$203,728.87
132	$1,761.50	$785.30	$976.20	$202,943.57
133	$1,761.50	$789.06	$972.44	$202,154.51
134	$1,761.50	$792.84	$968.66	$201,361.67
135	$1,761.50	$796.64	$964.86	$200,565.03
136	$1,761.50	$800.46	$961.04	$199,764.58
137	$1,761.50	$804.29	$957.21	$198,960.28
138	$1,761.50	$808.15	$953.35	$198,152.14
139	$1,761.50	$812.02	$949.48	$197,340.12
140	$1,761.50	$815.91	$945.59	$196,524.21
141	$1,761.50	$819.82	$941.68	$195,704.39
142	$1,761.50	$823.75	$937.75	$194,880.64
143	$1,761.50	$827.69	$933.80	$194,052.95
144	$1,761.50	$831.66	$929.84	$193,221.28
145	$1,761.50	$835.65	$925.85	$192,385.64
146	$1,761.50	$839.65	$921.85	$191,545.99
147	$1,761.50	$843.67	$917.82	$190,702.31
148	$1,761.50	$847.72	$913.78	$189,854.60
149	$1,761.50	$851.78	$909.72	$189,002.82
150	$1,761.50	$855.86	$905.64	$188,146.96
151	$1,761.50	$859.96	$901.54	$187,287.00
152	$1,761.50	$864.08	$897.42	$186,422.92
153	$1,761.50	$868.22	$893.28	$185,554.70
154	$1,761.50	$872.38	$889.12	$184,682.32
155	$1,761.50	$876.56	$884.94	$183,805.76
156	$1,761.50	$880.76	$880.74	$182,924.99
157	$1,761.50	$884.98	$876.52	$182,040.01
158	$1,761.50	$889.22	$872.28	$181,150.79
159	$1,761.50	$893.48	$868.01	$180,257.30
160	$1,761.50	$897.77	$863.73	$179,359.54
161	$1,761.50	$902.07	$859.43	$178,457.47
162	$1,761.50	$906.39	$855.11	$177,551.08
163	$1,761.50	$910.73	$850.77	$176,640.35
164	$1,761.50	$915.10	$846.40	$175,725.25
165	$1,761.50	$919.48	$842.02	$174,805.77
166	$1,761.50	$923.89	$837.61	$173,881.89
167	$1,761.50	$928.31	$833.18	$172,953.57
168	$1,761.50	$932.76	$828.74	$172,020.81
169	$1,761.50	$937.23	$824.27	$171,083.58
170	$1,761.50	$941.72	$819.78	$170,141.86
171	$1,761.50	$946.23	$815.26	$169,195.62
172	$1,761.50	$950.77	$810.73	$168,244.85
173	$1,761.50	$955.32	$806.17	$167,289.53
174	$1,761.50	$959.90	$801.60	$166,329.63
175	$1,761.50	$964.50	$797.00	$165,365.12
176	$1,761.50	$969.12	$792.37	$164,396.00
177	$1,761.50	$973.77	$787.73	$163,422.23
178	$1,761.50	$978.43	$783.06	$162,443.80
179	$1,761.50	$983.12	$778.38	$161,460.68
180	$1,761.50	$987.83	$773.67	$160,472.85
181	$1,761.50	$992.57	$768.93	$159,480.28
182	$1,761.50	$997.32	$764.18	$158,482.96
183	$1,761.50	$1,002.10	$759.40	$157,480.86
184	$1,761.50	$1,006.90	$754.60	$156,473.96
185	$1,761.50	$1,011.73	$749.77	$155,462.23
186	$1,761.50	$1,016.57	$744.92	$154,445.66
187	$1,761.50	$1,021.45	$740.05	$153,424.21
188	$1,761.50	$1,026.34	$735.16	$152,397.87
189	$1,761.50	$1,031.26	$730.24	$151,366.61
190	$1,761.50	$1,036.20	$725.30	$150,330.41
191	$1,761.50	$1,041.16	$720.33	$149,289.25
192	$1,761.50	$1,046.15	$715.34	$148,243.09
193	$1,761.50	$1,051.17	$710.33	$147,191.93
194	$1,761.50	$1,056.20	$705.29	$146,135.72
195	$1,761.50	$1,061.26	$700.23	$145,074.46
196	$1,761.50	$1,066.35	$695.15	$144,008.11
197	$1,761.50	$1,071.46	$690.04	$142,936.65
198	$1,761.50	$1,076.59	$684.90	$141,860.06
199	$1,761.50	$1,081.75	$679.75	$140,778.31
200	$1,761.50	$1,086.94	$674.56	$139,691.37
201	$1,761.50	$1,092.14	$669.35	$138,599.23
202	$1,761.50	$1,097.38	$664.12	$137,501.85
203	$1,761.50	$1,102.63	$658.86	$136,399.22
204	$1,761.50	$1,107.92	$653.58	$135,291.30
205	$1,761.50	$1,113.23	$648.27	$134,178.07
206	$1,761.50	$1,118.56	$642.94	$133,059.51
207	$1,761.50	$1,123.92	$637.58	$131,935.59
208	$1,761.50	$1,129.31	$632.19	$130,806.28
209	$1,761.50	$1,134.72	$626.78	$129,671.56
210	$1,761.50	$1,140.16	$621.34	$128,531.41
211	$1,761.50	$1,145.62	$615.88	$127,385.79
212	$1,761.50	$1,151.11	$610.39	$126,234.68
213	$1,761.50	$1,156.62	$604.87	$125,078.06
214	$1,761.50	$1,162.17	$599.33	$123,915.89
215	$1,761.50	$1,167.73	$593.76	$122,748.16
216	$1,761.50	$1,173.33	$588.17	$121,574.83
217	$1,761.50	$1,178.95	$582.55	$120,395.88
218	$1,761.50	$1,184.60	$576.90	$119,211.28
219	$1,761.50	$1,190.28	$571.22	$118,021.00
220	$1,761.50	$1,195.98	$565.52	$116,825.02
221	$1,761.50	$1,201.71	$559.79	$115,623.31
222	$1,761.50	$1,207.47	$554.03	$114,415.84
223	$1,761.50	$1,213.26	$548.24	$113,202.58
224	$1,761.50	$1,219.07	$542.43	$111,983.51
225	$1,761.50	$1,224.91	$536.59	$110,758.60
226	$1,761.50	$1,230.78	$530.72	$109,527.82
227	$1,761.50	$1,236.68	$524.82	$108,291.15
228	$1,761.50	$1,242.60	$518.90	$107,048.54
229	$1,761.50	$1,248.56	$512.94	$105,799.99
230	$1,761.50	$1,254.54	$506.96	$104,545.45
231	$1,761.50	$1,260.55	$500.95	$103,284.90
232	$1,761.50	$1,266.59	$494.91	$102,018.31
233	$1,761.50	$1,272.66	$488.84	$100,745.65
234	$1,761.50	$1,278.76	$482.74	$99,466.89
235	$1,761.50	$1,284.89	$476.61	$98,182.00
236	$1,761.50	$1,291.04	$470.46	$96,890.96
237	$1,761.50	$1,297.23	$464.27	$95,593.73
238	$1,761.50	$1,303.44	$458.05	$94,290.29
239	$1,761.50	$1,309.69	$451.81	$92,980.59
240	$1,761.50	$1,315.97	$445.53	$91,664.63
241	$1,761.50	$1,322.27	$439.23	$90,342.36
242	$1,761.50	$1,328.61	$432.89	$89,013.75
243	$1,761.50	$1,334.97	$426.52	$87,678.78
244	$1,761.50	$1,341.37	$420.13	$86,337.41
245	$1,761.50	$1,347.80	$413.70	$84,989.61
246	$1,761.50	$1,354.26	$407.24	$83,635.35
247	$1,761.50	$1,360.75	$400.75	$82,274.61
248	$1,761.50	$1,367.27	$394.23	$80,907.34
249	$1,761.50	$1,373.82	$387.68	$79,533.52
250	$1,761.50	$1,380.40	$381.10	$78,153.12
251	$1,761.50	$1,387.01	$374.48	$76,766.11
252	$1,761.50	$1,393.66	$367.84	$75,372.45
253	$1,761.50	$1,400.34	$361.16	$73,972.11
254	$1,761.50	$1,407.05	$354.45	$72,565.06
255	$1,761.50	$1,413.79	$347.71	$71,151.27
256	$1,761.50	$1,420.56	$340.93	$69,730.71
257	$1,761.50	$1,427.37	$334.13	$68,303.34
258	$1,761.50	$1,434.21	$327.29	$66,869.13
259	$1,761.50	$1,441.08	$320.41	$65,428.04
260	$1,761.50	$1,447.99	$313.51	$63,980.05
261	$1,761.50	$1,454.93	$306.57	$62,525.13
262	$1,761.50	$1,461.90	$299.60	$61,063.23
263	$1,761.50	$1,468.90	$292.59	$59,594.33
264	$1,761.50	$1,475.94	$285.56	$58,118.38
265	$1,761.50	$1,483.01	$278.48	$56,635.37
266	$1,761.50	$1,490.12	$271.38	$55,145.25
267	$1,761.50	$1,497.26	$264.24	$53,647.99
268	$1,761.50	$1,504.43	$257.06	$52,143.55
269	$1,761.50	$1,511.64	$249.85	$50,631.91
270	$1,761.50	$1,518.89	$242.61	$49,113.02
271	$1,761.50	$1,526.16	$235.33	$47,586.86
272	$1,761.50	$1,533.48	$228.02	$46,053.38
273	$1,761.50	$1,540.83	$220.67	$44,512.56
274	$1,761.50	$1,548.21	$213.29	$42,964.35
275	$1,761.50	$1,555.63	$205.87	$41,408.72
276	$1,761.50	$1,563.08	$198.42	$39,845.64
277	$1,761.50	$1,570.57	$190.93	$38,275.07
278	$1,761.50	$1,578.10	$183.40	$36,696.97
279	$1,761.50	$1,585.66	$175.84	$35,111.31
280	$1,761.50	$1,593.26	$168.24	$33,518.06
281	$1,761.50	$1,600.89	$160.61	$31,917.17
282	$1,761.50	$1,608.56	$152.94	$30,308.61
283	$1,761.50	$1,616.27	$145.23	$28,692.34
284	$1,761.50	$1,624.01	$137.48	$27,068.32
285	$1,761.50	$1,631.80	$129.70	$25,436.53
286	$1,761.50	$1,639.61	$121.88	$23,796.91
287	$1,761.50	$1,647.47	$114.03	$22,149.44
288	$1,761.50	$1,655.37	$106.13	$20,494.08
289	$1,761.50	$1,663.30	$98.20	$18,830.78
290	$1,761.50	$1,671.27	$90.23	$17,159.51
291	$1,761.50	$1,679.28	$82.22	$15,480.24
292	$1,761.50	$1,687.32	$74.18	$13,792.92
293	$1,761.50	$1,695.41	$66.09	$12,097.51
294	$1,761.50	$1,703.53	$57.97	$10,393.98
295	$1,761.50	$1,711.69	$49.80	$8,682.28
296	$1,761.50	$1,719.90	$41.60	$6,962.39
297	$1,761.50	$1,728.14	$33.36	$5,234.25
298	$1,761.50	$1,736.42	$25.08	$3,497.84
299	$1,761.50	$1,744.74	$16.76	$1,753.10
300	$1,761.50	$1,753.10	$8.40	$0.00

Updated September 9, 2026

How to use

Replace the example inputs with your loan and property figures.
Select Calculate to update the estimate and any schedule.
Change one assumption at a time, then compare the result with the earlier scenario.

How this calculation works

Both paths start by subtracting the same lump sum. The recast retains the old rate and remaining term; refinancing uses the new quote. Each path has its own fee. The cost comparison totals interest and each fee through the selected horizon.

Cost difference = recast interest + recast fee − refinance interest − refinance fee

Worked example

Illustrative inputs — not a quote or a local average.

Current principal balance: $320,000.00
Interest rate: 6.5 %
Years remaining: 25 years
One-time principal payment: $40,000.00
Recast fee: $300.00
New interest rate: 5.75 %
New loan term: 25 years
Transaction costs: $4,500.00
Finance closing costs: Pay in cash
Comparison period: 7 years

New monthly P&I: $1,761.50. Comparison monthly P&I: $1,890.58. Monthly payment reduction: $129.08.

Reading the result

Holding the principal contribution equal avoids giving one option an artificial advantage. Compare the required payments, remaining debt and cost difference. A refinance with a longer term may look more comfortable monthly while leaving a larger balance at your planned sale date.

Before acting on the estimate

The model assumes both options are available and the lump sum is applied immediately. Real approval standards and effective dates differ. Do not include the principal contribution as a lost transaction cost: it exchanges cash for lower debt in both paths.