TD Bank mortgage recast calculator
Enter your TD Bank balance, rate, months remaining, and lump sum.
- New payment amount.
- Amount of reduction.
- Interest saved after the fee
- Time until the fee is recovered.
Only principal and interest are covered. Taxes and insurance (escrow) are charged separately. You cannot recast FHA, VA or USDA loans.
01 How to request a TD Bank mortgage recast
- Published fee
- The residential mortgage fee is $100 for a 'Payment Modification' involving 'Principal Reduction'. Home equity loans and lines have a $35 fee.
- Published minimum
- The information is not published.
02 Recast with TD Bank, pay extra principal, or do nothing
With a $100 recast fee, this example uses a $300,000 balance, 6.5% rate, 300 months remaining, and a $30,000 lump sum:
| 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 | $30,669 | $97,670 | $0 |
| Fee | $100 | $0 | $0 |
| Fee paid back by the lower payment in | 1 month | No fee | No fee |
Amortization schedule in Excel is a month-by-month list of every payment.
03 What other servicers charge for 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 TD Bank recasts
Is a recast fee charged by TD Bank?
$100. TD Bank lists $100 for a 'Payment Modification' tied to 'Principal Reduction' on residential mortgages. The fee is $35 for home equity loans and lines.
For a TD Bank recast, what is the minimum lump sum?
It has not been published. The published information says: not published.
Is recasting an FHA or VA loan available through TD Bank?
No. A voluntary recast is unavailable for FHA, VA and USDA loans. Extra principal shortens these loans instead. Recast rules for each loan type