100% Instant Refund Guarantee: 1-click full refund within 14 days if your plan changes.Verified Methodology: Fannie Mae Servicing Guide F-1-05 & CFPB TILA Regulation Z
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Verified Baseline Answer • Fannie Mae Servicing Guide F-1-05 & CFPB TILA Reg Z
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Under Fannie Mae Servicing Guide F-1-05 & CFPB TILA Reg Z, applying a $50,000 lump-sum principal recast to a $450,000 mortgage at 4.25% with JPMorgan Chase Bank, N.A. reduces your required monthly P&I payment by $265.04/mo (from $2,385.35 to $2,120.31) and saves $32,692.48 in lifetime interest using M = P[r(1+r)^n]/[(1+r)^n-1] over 312 remaining months.
Major US Mortgage Servicer Recast Fee, Minimum Lump-Sum & F-1-05 Seasoning Benchmark Table
Loan Servicer
Recast Fee
Minimum Lump Sum
Conforming F-1-05 Eligible
FHA / VA Recast Policy
JPMorgan Chase
$0
$5,000
Yes (2+ consecutive payments)
Excluded (FHA/VA prohibited)
Wells Fargo
$250
$10,000 (or 10% UPB)
Yes (Good standing required)
Excluded (FHA/VA prohibited)
Rocket Mortgage
$250
$10,000
Yes (Conventional Fannie/Freddie)
Excluded (FHA/VA prohibited)
Mr. Cooper
$250
$10,000
Yes (30-45 day processing)
Excluded (FHA/VA prohibited)
PennyMac
$250
$5,000
Yes (Written modification form)
Excluded (FHA/VA prohibited)
Bank of America
$0
$5,000
Yes (No credit check or appraisal)
Excluded (FHA/VA prohibited)
U.S. Bank
$250
$10,000 (or 10% UPB)
Yes (Conforming conventional)
Excluded (FHA/VA prohibited)
Citibank (Citi)
$250
$5,000
Yes (Conforming conventional)
Excluded (FHA/VA prohibited)
Verified Methodology Q&A
Frequently Asked Questions: Mortgage Recast vs Refinance Calculator
How much does a $50,000 mortgage recast lower my monthly payment on a $450,000 loan at 4.25%?
Applying a $50,000 principal curtailment and formal re-amortization on a $450,000 balance at 4.25% over 312 remaining months lowers your required monthly P&I payment by $265.04/mo (dropping from $2,385.35 to $2,120.31) while saving $32,692.48 in cumulative interest.
What is the JPMorgan Chase Bank, N.A. mortgage recast fee and minimum lump-sum requirement?
Under Fannie Mae Servicing Guide F-1-05, JPMorgan Chase Bank, N.A. charges a $0 administrative recast fee with no credit check, no home appraisal, and no change to your 4.25% interest rate. Minimum lump-sum thresholds range from $5,000 (Chase, Bank of America, PennyMac, Citibank) to $10,000 or 10% UPB (Wells Fargo, Rocket Mortgage, Mr. Cooper, U.S. Bank).
Is it better to recast a mortgage or make extra principal payments without recasting?
Extra principal payments alone shorten your payoff date but leave your required monthly obligation unchanged at $2,385.35. A formal mortgage recast re-indexes the remaining principal (400,000 USD) across your remaining 312-month term, legally reducing your mandatory monthly payment to $2,120.31.
Lock -$265.04/mo Required Payment Drop ($32,692 Saved) or Pay Off 4.8 Yrs Early ($86,212 Saved)
Recasting with JPMorgan Chase Bank, N.A. ($0 fee) lowers your mandatory contractual payment from $2,385.35/mo to $2,120.31/mo. Pro Hybrid Strategy: Execute the F-1-05 recast first to lock the -$265.04/mo safety floor, then voluntarily pay $2,385.35/mo in strong cash-flow months to retire the loan 57 months early and save $86,212 in total interest.
