**IMPORTANT:** Numeric entry fields must not contain dollar signs, percent signs, commas, spaces, etc. (only digits 0-9 and decimal points are allowed).

Click the **Terms** tab above for a more detailed description of each entry.

#### Step #1:

Enter the mortgage's current payoff amount.

#### Step #2:

Enter the mortgage's annual interest rate.

#### Step #3:

Enter the principal and interest portion of your monthly mortgage payment.

#### Step #4:

Select the month and year the next payment is due.

#### Step #5:

Select *1-time* or *Annual* and enter the lump sum principal reduction you will be making based on your selection.

#### Step #6:

Enter the lender recasting fee.

#### Step #7:

Indicate whether or not you would like an amortization schedule included in the results (Yes or No).

#### Step #8:

Tap the "Calculate Recast Savings" button and scroll down to view the results.

Follow meon any of the social media sites below and be among the first to get a sneak peek at thenewest and coolest calculatorsthat are being added or updated each month.