Mortgage Recast Calculator

U.S. Bank mortgage recast calculator

U.S. Bank logo
U.S. Bank fee and your loan type
Your servicerU.S. Bank

Enter your U.S. Bank balance, rate, remaining months, and lump sum.

  • New payment amount.
  • Reduction amount.
  • Interest saved after the fee
  • Period needed to recover the fee.

Only principal and interest are included. Taxes and insurance (escrow) have separate bills. Recasting is unavailable for FHA, VA and USDA loans.

$250recast fee
Not publishedminimum lump sum
NoFHA, VA, USDA
Ask the servicerhow often

01 How to request a recast of your U.S. Bank mortgage

How to make the request

  1. Servicing request
Published fee
'The Recast modification fee is $250. It cannot be charged for bankruptcy or SCRA.'
Published minimum
Published amount: none ('a large principal reduction').

Page about U.S. Bank recasts

02 Recast through U.S. Bank, add extra principal, or do nothing

With a $300,000 balance at 6.5%, 300 months remaining, a $30,000 lump sum, and a $250 recast fee:

OptionRecastExtra principalDo nothing
Monthly payment$1,823.06$2,025.62$2,025.62
Paid off in25 years19 years 9 months25 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 in2 monthsNo feeNo fee

Amortization schedule in Excel is a month-by-month list of every payment.

03 Other servicers' Recast fees

ServicerRecast feeMinimum lump sum
Bank of America logoBank of AmericaNo fee$5,000 over six months
Wells Fargo logoWells FargoNo fee$10,000
Rocket Mortgage logoRocket Mortgage$250$10,000
PennyMac logoPennyMac$250$10,000
Truist logoTruist$25010% of the balance
Chase logoChaseNot publishedNo minimum

All 36 servicers

04 Questions about U.S. Bank recasts

  1. Is there a recast fee at U.S. Bank?

    $250. U.S. Bank's page says: 'The Recast modification fee is $250. It cannot be charged for bankruptcy or SCRA.'.

  2. How large must the lump sum be for a U.S. Bank recast?

    No amount is published. The published details do not list an amount ('a large principal reduction').

  3. Does U.S. Bank offer recasting for FHA or VA loans?

    No. FHA, VA and USDA loans are not eligible for a voluntary Recast. Extra principal shortens those loans instead. Recast rules for each loan type