If you're looking to reduce your monthly mortgage payments without refinancing, mortgage recasting may be the solution for you. By making a lump sum payment toward your mortgage, you can effectively lower your outstanding balance and adjust your monthly payment accordingly. This calculator can help you understand the potential benefits of recasting your mortgage.
Using the Mortgage Recast Calculator is simple! Follow these steps:
💡 Remember: Always consult with your mortgage lender to ensure your loan is eligible for recasting!