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Cash-Out Refinance Limit Calculator
Cash-out refinancing lets you tap home equity by replacing your mortgage with a larger one, taking the difference in cash. LTV limits vary by occupancy (80% primary, 75% second home, 70% investment) and closing costs eat into proceeds. This calculator sizes your true maximum cash-out after payoff and closing.
Net cash to you
$122,400
Maximum new loan
$420,000
Gross cash-out (before closing)
$135,000
Closing cost
$12,600
Post-refi LTV
80.0%
LTV cap used
80.0%
How the math works
On a $525K primary with $285K mortgage and 80% LTV cap: max new loan = $420K. After paying off the $285K existing and 3% closing cost ($12.6K), net cash is $122.4K. LTV lands at 80% with the new loan. Investment-property cash-out at 75% LTV on the same property: max loan $393.75K, net cash $96K — $26K less than primary.
Always run both cash-out and HELOC/HEL side-by-side. Cash-out resets your entire mortgage rate; if the existing rate is low (<4%), a HELOC or HEL preserving that rate is usually cheaper even though the fixed-rate second may have a slightly higher nominal rate.
EveryCalc calculators are designed for fast, practical estimates with transparent inputs and no required account. We use plain formulas, visible assumptions, and related tools so visitors can check the result from more than one angle.
Results are informational only. For financial, tax, legal, medical, construction, or other high-impact decisions, verify the output against primary sources or a qualified professional.
Learn more about our review process on the EveryCalc methodology page.
How this calculator works
What this page estimates
This Cash-Out Refinance Limit Calculator is built to give a quick, browser-based estimate for cash-out refinance limit. Cash-out refinancing lets you tap home equity by replacing your mortgage with a larger one, taking the difference in cash. LTV limits vary by occupancy (80% primary, 75% second home, 70% investment) and closing costs eat into proceeds. This calculator sizes your true maximum cash-out after payoff and closing. The inputs stay on the page during normal use, and the result should be treated as an estimate for planning, comparison, or education rather than professional advice.
Calculation approach
The calculator applies the standard relationship implied by the inputs, then formats the answer so it can be checked and reused. For finance tools, the most important step is using consistent units, rates, time periods, and assumptions before comparing the result with another calculator or outside quote.
Example workflow
For example, start with a realistic value you already know, change one input at a time, and watch how the answer moves. That makes it easier to tell whether the result is being driven by the main amount, the rate, the time period, or a unit conversion.
Practical checks
- Use current, real-world numbers when the result affects money, health, tax, or legal decisions.
- Run a low, base, and high case when the inputs are estimates.
- Check the related calculators below when the next decision depends on a different assumption.
How to interpret the cash-out refinance limit result
Best use
Use the result as a planning number for comparing payments, rates, returns, tax reserves, or cash-flow choices before you request a quote or make a commitment.
Cross-check
Compare the answer with the contract, lender estimate, tax form, brokerage statement, payroll record, or invoice that will control the real-world outcome.
Watch for
Do not rely on a single optimistic rate, return, or fee assumption. Money pages work best when you run low, base, and high cases and keep professional advice separate from the estimate.
This page belongs to the Finance calculator library, so the answer should be read in the context of the decision you are modeling rather than as a universal rule.
Before relying on this cash-out refinance limit estimate
Most calculator mistakes come from the inputs, not the arithmetic. Use this short audit before you reuse the answer in a spreadsheet, quote, application, or important conversation.
Confirm source numbers
Match balances, rates, fees, taxes, income, and payment dates against the lender quote, payroll record, tax form, statement, invoice, or contract.
Separate cash flow from total cost
A lower monthly payment can still cost more over time if fees, interest, taxes, or a longer term are hidden in the structure.
Run conservative cases
Test at least one higher-cost or lower-return case before using the output for a purchase, refinance, investment, loan, or tax decision.
Rerun this page when the rate, price, term, fee, tax rule, income, expense, or expected holding period changes.
How to Use
- Enter current appraised value and existing mortgage balance.
- Choose occupancy type to apply the right LTV cap.
- Enter your closing costs (usually 2-5% of new loan).
- See new loan size, max cash to you, and post-refi LTV.
Frequently Asked Questions
What are typical LTV limits for cash-out refi?
Primary residence conforming: 80% (Fannie/Freddie). VA: up to 100% (rare). FHA: 80%. Second home: 75%. Investment property (1-unit): 75%. Investment multi-unit (2-4): 70%. DSCR loans on investment: 70-75%. Non-QM can go to 80-85% on primaries with rate premium.
Is cash-out refi still worth it at high rates?
Only if you have very high-rate debt to consolidate (credit cards at 20%+) or a clear use-of-funds producing return above the refi rate. Resetting a 3% mortgage into a 7% cash-out to pay off a 6% HELOC is usually a bad trade. Run both scenarios before committing.
Does cash-out require seasoning?
Yes. Fannie/Freddie require 12 months on-title for cash-out on primaries. Investment delayed-financing can allow cash-out within 6 months if specific rules are met. FHA requires 12 months. VA: no seasoning for IRRRL but cash-out requires the property to have been owned for a while.
What increases my LTV limit?
Strong credit (740+), low DTI (<40%), 6+ months reserves, and no late mortgage payments. Some lenders do up to 85% on primary cash-out with these profiles, especially on conforming loan amounts. Jumbo cash-out maxes at 75-80% for top-tier borrowers; 70% for average.
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