Regions mortgage recast calculator
Enter the lump sum, along with your Regions balance, rate, and months remaining.
- Your new payment.
- Amount of reduction.
- Interest saved after the fee
- Time to pay back the Fee.
Your payment covers principal and interest alone. You pay taxes and insurance (escrow) on separate bills. Recasting is not available for FHA, VA or USDA loans.
01 How to request a Regions mortgage recast
- Published Fee
- 'Modification Fee $275, Fee for handling a Principal Reduction modification and for sending documents overnight. These fees may change.'
- Published minimum
- not published
02 Recast with Regions, add extra principal, or do nothing
For this example, the balance is $300,000, the rate is 6.5%, 300 months remain, the lump sum is $30,000, and the recast fee is $275:
| 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 | $30,494 | $97,670 | $0 |
| Fee | $275 | $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 Fees other servicers charge for a Recast
| 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 Regions recast
Is there a recast fee at Regions?
$275. According to Regions: 'Modification Fee $275, Fee for handling a Principal Reduction modification and for sending documents overnight. These fees may change.'.
For a Regions recast, what is the minimum lump sum?
It has not been published. As stated publicly: not published.
Does Regions allow you to recast an FHA or VA loan?
No. FHA, VA and USDA loans do not allow a voluntary Recast; extra principal reduces their term. Recast rules for loan types