Lakeview mortgage recast calculator
Enter your Lakeview balance, rate, remaining months, and lump sum.
- Your new payment.
- The amount of your reduction.
- Interest saved after the fee
- How long until the fee is paid back.
The amount includes principal and interest only; separate bills cover taxes and insurance (escrow). Recasting is unavailable for FHA, VA, and USDA loans.
$250recast fee
$10,000minimum lump sum
NoFHA, VA, USDA
Ask the servicerhow often
01 How to request a Lakeview mortgage recast
How to request it
- Submit the 'Recast request form' BEFORE the lump sum, pay the fee, and then sign and return the 'Recast Agreement'.
Eligibility requirements
- Government-backed loans (VA, FHA, GNMA, USDA) are not eligible
- Loans that are interest-only, Option ARM, or commercial are not eligible
- No credit check applies
- Accounts transferred recently may wait 90 days.
Timing
- Lakeview states that it 'can take up to 90 days'
- Published fee
- 'a non-refundable fee, up to $250' ('when your state requires it')
- Published minimum
- $10,000
02 Recast through Lakeview, pay extra principal, or do nothing
This example uses a $300,000 balance, a 6.5% rate, 300 months remaining, a $30,000 lump sum, and a $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 lists each 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 Lakeview recasts
Is there a recast fee from Lakeview?
$250. Lakeview's page states: 'a non-refundable fee, up to $250' ('when your state requires it').
What minimum lump sum does Lakeview require for a recast?
$10,000. Amount as published: $10,000.
Is an FHA or VA loan eligible for recast through Lakeview?
No. A voluntary Recast is unavailable for FHA, VA and USDA loans; paying extra principal reduces their term instead. Rules for Recast by loan type