Guaranteed Rate mortgage recast calculator
Enter your balance, rate, months left, and lump sum for Guaranteed Rate.
- Your new payment.
- Reduction amount.
- Interest saved after the fee
- Time until the fee is paid back.
Only principal and interest are included; taxes and insurance (escrow) are charged separately. You cannot recast FHA, VA and USDA loans.
01 How to request a Guaranteed Rate mortgage recast
Eligibility
- Generic
- Published fee
- not published ('a processing fee that is relatively small, costing a few hundred dollars')
- Published minimum.
- The published amount is not listed ('$5,000-$10,000').
02 Recast through Guaranteed Rate, add extra principal, or make no changes
This example uses a balance of $300,000 at 6.5%, with 300 months remaining. It includes a $30,000 lump sum and an assumed $250 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 | $30,519 | $97,670 | $0 |
| Fee | $250 | $0 | $0 |
| Fee paid back by the lower payment in | 2 months | No fee | No fee |
Amortization schedule in Excel is a month-by-month list of every payment.
03 Recast charges from 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 Guaranteed Rate recasts
Is there a recast fee from Guaranteed Rate?
The amount is a few hundred dollars. The fee is not published on Guaranteed Rate's page; it is described as relatively small, costing a few hundred dollars.
For a Guaranteed Rate recast, what is the smallest lump sum?
From $5,000 to $10,000. No published amount ('$5,000-$10,000').
Can you use Guaranteed Rate to recast an FHA or VA loan?
No voluntary Recast applies to FHA, VA and USDA loans; extra principal shortens these loans instead. Loan-type Recast rules