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AUSTIN RATE & HOLDING-PERIOD DESK

Pay down principal.
Explore a smaller payment.

Re-amortize a reduced balance at the same rate and remaining term.

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YOUR DECISION MAP
  1. 01Set your assumptions
  2. 02See the trade-offs
  3. 03Keep, compare or share

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Home equity

Mortgage recast scenario

Compare payment reduction when a lump sum is followed by re-amortization at the same rate.

Starting values are illustrative scenarios, not local prices, rates, fees or eligibility rules. Enter the figures for your own situation.

YOUR DECISION, IN NUMBERS

METHOD 2026-10-24.3
Modeled post-recast P&I$2,093
Monthly P&I reduction$338
New principal balance$310,000
Lump sum plus fee$50,300

Recasting is subject to lender/product rules; making an extra payment alone does not establish a recast or lower the required payment.

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YOUR GOAL FIRST / MITEY

Find a better fit.
For your next move.

Buying, refinancing or financing a business? Tell us what you want to achieve. Ask MITEY to help you understand the options, costs and next steps worth comparing.

01 · AI-assisted, source-linked research02 · Compare the whole cost, beyond the rate03 · Free tools, no credit check to enquire

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About: Mortgage recast scenario · Austin

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A SMALL CHANGE / A DIFFERENT VIEW

Another $10,000 toward principal

Modeled post-recast P&I

Current scenario$2,093
Changed assumption$2,026

One assumption changes; everything else stays the same. This is a stress scenario, not a forecast.

READ THE RESULT

What the numbers are telling you.

  1. A recast is a lender/product action, not an automatic consequence of sending extra money.
  2. The modeled reduction uses the same interest rate and remaining months.
  3. The lump sum and recast fee both use cash; preserve the reserve you need.
A GOOD QUESTION

How is a recast different from refinancing?

This recast scenario keeps the existing rate and remaining term while re-amortizing a smaller balance. A refinance generally replaces the loan with new terms and costs.

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YOUR COMPARISON TABLE

Keep the possibilities
side by side.

Save up to eight scenarios on this device. Each retains its own tool and assumptions; outputs from different methods are labeled separately. Download a plan before moving to another browser or independent portal.

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OPEN METHODS / BETTER QUESTIONS

Understand what the number means.

The calculation

Re-amortize the reduced balance at the same rate over the remaining term.

Before acting on the result

Recasting is subject to lender/product rules; making an extra payment alone does not establish a recast or lower the required payment.

Use actual property documents, matching lender estimates and qualified advice where needed. No calculator, API or MCP tool here issues an approval or guarantees a rate.

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