Movement Mortgage recast calculator
Enter your Movement Mortgage balance, rate, months remaining, and lump sum.
- Your new payment.
- Amount of the reduction.
- Interest saved after the fee
- Time to pay back the Fee.
Only Principal and interest are included; taxes and insurance (escrow) are billed separately. You cannot recast FHA, VA and USDA loans.
$500recast fee
$10,000minimum lump sum
NoFHA, VA, USDA
Ask the servicerhow often
01 How to ask Movement Mortgage for a mortgage recast
How to make the request
- Application via servicing 855-979-1084 / servicing@movement.com
Eligibility
- Fannie Mae or Freddie Mac owns the conventional loan
- Movement handles servicing
- In good standing and not in bankruptcy
- A single on-time payment made at the original terms
- Next month's payment is due at the time of application
- In the same process, PMI can be removed if the reduced balance reaches ≤ 80% of original value.
- Published Fee
- 'Fee: $500'
- Published Minimum
- 'Principal curtailment must be $10,000 or more'
02 Recast through Movement Mortgage, pay extra principal, or do nothing
With a $300,000 balance at 6.5%, 300 months remaining, plus a lump sum of $30,000, and a $500 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 | $30,269 | $97,670 | $0 |
| Fee | $500 | $0 | $0 |
| Fee paid back by the lower payment in | 3 months | No fee | No fee |
Amortization schedule in Excel is a month-by-month list of every payment.
03 Recast fee amounts at 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 Movement Mortgage recast questions
Does Movement Mortgage charge a fee for a recast?
$500. As stated on the Movement Mortgage page, the 'Fee' is $500.
What is the minimum lump sum for a Movement Mortgage recast?
$10,000. Published terms: 'Principal curtailment must be $10,000 or more.'
With Movement Mortgage, can an FHA or VA loan be recast?
No. FHA, VA, and USDA loans do not allow a voluntary recast; paying extra principal shortens the loan term instead. Recast rules by loan type