Recast Your Mortgage | Resources for Current Borrowers

Have your home loan with Greater Nevada Mortgage? Got some extra cash? You may want to consider the Greater Recast program to lower your monthly mortgage payment while keeping your current term and rate.

Reduce Monthly Mortgage Payments

Recasting, or re-amortizing your loan, is a great option for current borrowers. Below explains how the program works, and we also offer you a free Lump Sum Mortgage Payment Calculator to run a test scenario with your numbers.

Lump Sum Mortgage Payment Calculator

The Benefits

Recasting, or re-amortizing your loan, involves a lump sum principal reduction payment, which then lowers your monthly mortgage payment accordingly. No credit check is needed, plus your current interest rate and loan term remains the same—an advantage for those with a low interest rate.

Option for Homeowners Moving

Greater Recast is also a great option for those who bought a new home while selling their existing home. Proceeds from the sale can be applied to the new home mortgage to lower the payments.

The Details

The minimum Greater Recast payment is $5,000, plus a processing fee of $300. Not all loans or borrowers are eligible for the Greater Recast program. A Greater Recast may only be requested once every five years.

Have Questions or Ready to Start?

Our Loan Servicing team is happy to help answer any questions. Give us a call at 775-888-6999 or 800-526-6999, or click here to send an inquiry through our dedicated contact form.

If you’re ready to apply, then download the Greater Recast program application.¹

¹Greater Nevada Mortgage uses DocuSign to support secure electronic forms and signatures. By accessing the link, you will verify your identity and electronically remit documents to us. If you are unable to complete the verification questions or have questions regarding the document for signature, please contact us at 775-888-6999 or 800-526-6999.