Chase mortgage recast calculator
Enter the balance, rate, months left, and lump sum for Chase.
- Your new payment.
- Amount of decrease.
- Interest saved after the fee
- Time to recover the fee.
This covers principal and interest only, while taxes and insurance (escrow) are charged separately. Recast is not available for FHA, VA and USDA loans.
01 How to request a Chase mortgage recast
How to request it
- Sign the 'recast agreement' and contact a Home Lending Advisor.
Who is eligible?
- FHA, VA and USDA loans are not eligible.
- Chase says eligibility depends on investor guidelines and may change without notice.
- A loan in good standing is required.
- You do not need an appraisal, credit check, or income documentation.
- Published fee
- The Chase recast page does not list it; ask a Home Lending Advisor.
- Published minimum.
- None ('no minimum amount is required').
02 Your choices: Recast with Chase, pay extra principal, or do nothing
This example assumes a $250 recast fee. It uses a $30,000 lump sum, a $300,000 balance at 6.5%, and 300 months remaining.
| Option | Recast | Extra principal | Do nothing |
|---|---|---|---|
| Monthly payment | $1,823.06 | $2,025.62 | $2,025.62 |
| Paid off in | 25 years | 19 years 9 months | 25 years |
| Interest left to pay | $276,918 | $210,016 | $307,686 |
| Interest saved after the fee | $30,519 | $97,670 | $0 |
| Fee | $250 | $0 | $0 |
| Fee paid back by the lower payment in | 2 months | No fee | No fee |
The Amortization schedule in Excel shows every payment month by month.
03 Other servicers' Recast fees
| Servicer | Recast fee | Minimum lump sum |
|---|---|---|
 Bank of America | No fee | $5,000 over six months |
 Wells Fargo | No fee | $10,000 |
 Rocket Mortgage | $250 | $10,000 |
 PennyMac | $250 | $10,000 |
 Truist | $250 | 10% of the balance |
 U.S. Bank | $250 | Not published |
04 Questions about a Chase recast
Is there a recast fee from Chase?
It has not been published. Chase's recast page does not list the fee; ask a Home Lending Advisor.
What minimum lump sum applies to a Chase recast?
No minimum applies. Published details: None ('no minimum amount is required').
How often does Chase allow you to recast?
After you reduce the principal further, Chase lets you recast again.
Does Chase allow an FHA or VA loan to be recast?
No. For FHA, VA and USDA loans, a voluntary Recast is not available. Extra principal shortens these loans instead. Recast rules for each loan type