Mortgage Recast vs Refinance Calculator Comparison

Compare how a mortgage recast and refinance can affect your loan payments, costs, and long-term options with free calculator tools.

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Step 1

Add your loan amount, interest rate, and repayment details.

Step 2

Review estimated payment differences between mortgage options.

Step 3

Use the results to understand possible costs and savings factors.

Main purpose	Adjust payments after a large principal payment	Replace your existing mortgage with a new loan
Interest rate change	Usually keeps the current interest rate	May change the interest rate based on new loan terms
Closing costs	Often has lower fees	Usually includes refinancing costs
Monthly payment impact	Can reduce payments by recalculating the loan balance	Can change payments through new rates, terms, or loan amounts