Wells Fargo Mortgage Recast Calculator
Payment breakdown
Interest & break-even
Total monthly housing cost
Where your money goes over time
If the freed-up cash is invested at 7%, the saved payments grow to about $0 by payoff.
Four ways to use that cash
| Scenario | Monthly P&I | Interest left | Payoff | What happens |
|---|
Show the full amortization schedule (before vs after)
| # | Int. now | Prin. now | Bal. now | Int. recast | Prin. recast | Bal. recast |
|---|
How to use this calculator
- Enter your current loan balance, interest rate, and remaining term.
- Enter the lump-sum amount you plan to pay toward principal.
- Click Calculate to see your new payment, interest savings, and comparison.
About this tool
Holding a Wells Fargo mortgage and sitting on a lump sum? Model the payment drop first. This independent estimate shows what a principal payment does to your Wells Fargo bill, then points you to the questions only your servicer can answer.
Does Wells Fargo offer a recast — and on your loan?
Here's the honest part most calculators skip: whether recasting is available to you depends on your specific loan and who currently owns it. Availability and terms are set by the servicer and can change, so use the estimate above as your planning number and treat the policy points below as a call sheet, not a promise.
| What to confirm | Commonly | Ask specifically |
|---|---|---|
| Is recasting available on my loan? | Depends on loan type & investor | "Can my specific mortgage be recast, or only paid down?" |
| Minimum principal reduction | Often around $5,000+ | "What is the current minimum to qualify?" |
| Fee | A small flat fee, if offered | "What's the exact fee and how is it paid?" |
| Loan-type limits | Conventional yes; FHA/VA generally no | "Is my loan program eligible?" |
| Timing | 1–2 billing cycles | "Which statement shows the new payment?" |
Last reviewed: set on verification. Guies Roc Blanc is not affiliated with or endorsed by Wells Fargo. Confirm all terms at wellsfargo.com or with Wells Fargo mortgage servicing.
If Wells Fargo can't recast your loan
Not every loan qualifies, and government-backed programs usually don't. That doesn't strand your cash. Paying the lump toward principal still shortens the loan and cuts total interest — it just won't drop the required monthly payment. Toggle the comparison table above to see that "pay down, keep paying" path, which often saves more interest than a recast even though the monthly bill stays put.
Rates dropped since you closed?
If today's rates beat yours, a refinance may win over both recasting and paying down. Compare the three.
Questions Wells Fargo borrowers ask
Does Wells Fargo do mortgage recasts?
Availability depends on your loan type and investor. Some conventional loans can be recast; government-backed loans generally can't. Confirm your specific loan with Wells Fargo servicing.
What's the minimum to recast with Wells Fargo?
Where offered, a minimum principal reduction commonly applies — often around $5,000 or more. The exact figure is set by the servicer and can change, so ask before planning around a number.
Will recasting change my Wells Fargo rate?
No. A recast keeps your existing rate and maturity date and only lowers the principal-and-interest payment.
How much does it cost?
Typically a small flat fee where offered — far less than refinancing. Get the exact amount from Wells Fargo.
My loan was transferred. Now what?
Recasting is handled by whoever services your loan today. Confirm eligibility with your current servicer, not the original lender.