Recast vs Refinance – RateAdjustors

Loan Details

Recast vs Refi

Current Loan

Current Balance

$

Current Rate

%

Remaining Mo.

mo

Recast Option

Lump Sum Payment

$

Cash you'd put in to recast

Refinance Option

New Rate

%

New Term

mo

Closing Costs

$

Current

—

/month

Total Interest

—

Cash required: $0

Recast

—

/month

Total Interest

—

—

Refinance

—

/month

Total Interest

—

—

RECAST

New monthly payment—

Monthly savings—

Interest savings—

Cash required—

REFINANCE

New monthly payment—

Monthly savings—

Interest savings—

Break-even months—

Cash required (closing)—

Recommendation