Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan.

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender reamortizes the loan.

Aug 15, 2025 ... A mortgage recast occurs when you put down a lump-sum payment toward the mortgage's principal balance and your lender then re-amortizes the loan to lower the ...

Whether you are considering buying your first home or ready to refinance your 12th, Mr. Cooper is here to guide you through the process. Let's get you home.

Submit the recast request form and pay the recast fee, if required in your state. Make the principal payment. Note: If the principal payment is made before ...

Cooper requires a minimum principal payment of $10,000. Recasting Fees – There is usually a non-refundable fee of up to $250 to recast your mortgage. Mortgage ...

Aug 15, 2025 ... You can also use a payoff calculator to estimate how a principal payment could affect the loan. What are some mortgage recast pros and cons ...

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down ...

... recast. Submit the recast request form and pay the recast fee, if required in your state. Make the principal payment. Note: If the principal payment is made ...

... recast. Recent Transfers – Recently transferred accounts may need to wait 90 days before recasting. Related Articles. Amortization Schedule Information ...