New Design Not working For You?

If the new page layout is not working for you, please Contact Me and let me know what device, operating system, and web browser (with version numbers) you are using so I can attempt to get the layout working for your setup.

About the Redesign

If you visited this site prior to September 15th, 2018, you've no doubt noticed that I've since launched a complete redesign of the website.

If you're not happy with the new design, I sincerely apologize. I would have preferred to keep the old desktop design, but considering the majority of my site's users are now accessing the site from small-screen, touch-enabled, mobile devices, and considering Google is now penalizing websites for not being mobile/thumb friendly, I was left with no choice but to switch to a responsive, mobile-first design.

The good news is that now that I have combined the three separate versions of the site (mobile, desktop, and ad-free member) into a single design, this will free up a ton of my time for working to make the mobile-optimized calculators more desktop/laptop friendly. In fact, some of the redesigned calculators already offer a desktop-optimized form that becomes visible when you increase the width setting of the calculator (within the "Calculator Preferences" expandable panel).

Thank you in advance for your help and patience as I work to improve the redesign.


Calculator Preferences
Mortgage Recast Calculator Sign

Mortgage Recast Calculator

This calculator will calculate the reduced payment amount and resulting interest savings if your home loan lender secretly offers mortgage recasting (A.K.A, re-amortization). Includes a savings comparison chart and an optional re-amortization schedule. The Learn tab includes:

  • What is a mortgage recast?
  • Example savings comparison.
  • Is recasting a good or bad idea?
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Balance:Current balance:Current principal balance:Current principal balance:

Current principal balance:

Enter the dollar amount of the current payoff amount of your mortgage (principal owed). If you are not sure, call your mortgage lender and ask for the current payoff amount. Enter without the dollar sign and commas.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual percentage rate (APR) you are being charged on your mortgage. Enter as a percentage, but without the percent sign.

PI payment:Current PI payment:Current principal and interest payment:Current monthly principal and interest payment:

Current monthly principal and interest mortgage payment:

Enter your current monthly principal and interest payment (do not include amounts your are paying for taxes and insurance). Enter without the dollar sign and any commas.

Next pmt:Next payment due:Month and year of next payment:Month and year of next mortgage payment:

Month and year of next mortgage payment:

Select the month and year of your first mortgage payment. If this is an existing mortgage the Mortgage Recast Calculator will assume that a payment has not been made for the current month, so the current month will be used as the start of the amortization schedule.

Prepayment:Principal reduction:Lump sum reduction in principal:Lump sum reduction in principal:

Lump sum reduction in principal:

Enter the lump sum amount that you will be using to pay down your principal balance for the mortgage recasting (not including the recasting fee). Enter without the dollar sign and any commas.

Recast fee:Recasting fee:Recasting fee:Recasting fee:

Recasting fee:

Enter the dollar amount of the fee your mortgage lender will be charging you to recast the mortgage. Enter without the dollar sign or any commas.

Schedule:Schedule:Include schedule:Include amortization schedule:

Include amortization schedule:

If you would like the results to include an amortization schedule, move the switch to the "Yes" position. Otherwise move the switch to the "No" position.

Pmts left:Payment left:Number of payments remaining:Number of payments remaining:

Number of payments remaining:

Based on your entries, this is the number of mortgage payments you still need to make in order to pay off your mortgage. If this number is substantially different from the actual number, please check to make sure you entered the correct current payoff amount and/or interest rate. Note that this number stays the same for recasting.

Recast bal:Recast balance:Recast loan balance:Recast loan balance:

Recast loan balance:

Based on your entries, this is how much you will still owe (principal balance) on your home loan after deducting the lump sum recasting payment.

Recast ComparisonPaymentInterest
Existing terms:Existing terms:Existing terms:Existing terms:
Recast terms:Recast terms:Recast terms:Recast terms:
Recast savings:Recast savings:Recast savings:Recast savings

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated


Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.



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