Citizens mortgage recast calculator
Fill in your Citizens balance, rate, remaining months and lump sum.
- The new payment.
- Amount of reduction.
- Interest saved after the fee
- Time to pay back the fee.
Only principal and interest are included; taxes and insurance (escrow) are billed on their own. Recast is not available for FHA, VA and USDA loans.
$150recast fee
$5,000minimum lump sum
NoFHA, VA, USDA
Ask the servicerhow often
01 How to request a mortgage recast from Citizens
- Published fee
- Recast processing fee: $150
- The published minimum.
- $5,000
02 Recast with Citizens, add extra principal or leave the loan as is
At 6.5% on a $300,000 balance, with 300 months remaining, a $30,000 lump sum, and a $150 recast fee:
| 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 | $30,619 | $97,670 | $0 |
| Fee | $150 | $0 | $0 |
| Fee paid back by the lower payment in | 1 month | No fee | No fee |
Amortization schedule in Excel lists every payment month by month.
03 Recast fees charged by other servicers
| 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 Citizens recast
Does Citizens charge a fee for recasting?
$150. According to Citizens's page, the recast processing fee is $150.
Citizens recast: what is the minimum lump sum?
$5,000. The published minimum is $5,000.
Does Citizens allow you to recast an FHA or VA loan?
No. Voluntary recast is not offered on FHA, VA and USDA loans; instead, extra principal shortens them. Recast rules by loan type