Finance category
Mortgage, loan, investing, tax, and money calculators.
Cash-Out Refinance Calculator
Estimate how much cash you may be able to pull from your home, what the new loan size could look like, and whether the payment still fits the plan.
Max new loan
$440,000.00
Cash available
$50,000.00
Estimated payment
$2,117.43
Remaining equity
$215,000.00
Cash-out check
This estimate caps the new loan at the loan-to-value limit you enter. If the requested cash exceeds the available room after closing costs, the calculator shows the maximum cash available instead.
New loan amount
$335,000.00
Requested cash shortfall
$0.00
How to Use
- Enter the current home value, mortgage balance, and the maximum loan-to-value ratio you want to test.
- Add the amount of cash you would like to pull out plus the expected closing costs.
- Set the new refinance rate and term so the payment estimate reflects the replacement mortgage structure.
- Review maximum cash available, the resulting new loan amount, monthly payment, and remaining equity before comparing alternatives.
Frequently Asked Questions
What is a cash-out refinance?
A cash-out refinance replaces your current mortgage with a larger new mortgage and gives you the difference in cash after the existing loan and costs are covered.
Why does loan-to-value matter so much?
LTV limits cap how much of your home's value you can borrow against, which directly controls how much cash may actually be available.
Does this mean I can automatically borrow the full amount shown?
No. It is a planning estimate. Actual available cash depends on appraisal, lender overlays, credit, income, and reserve requirements.
How should I compare this with a HELOC or home equity loan?
A cash-out refinance changes your first mortgage, while HELOCs and home equity loans leave it in place and add separate borrowing. Comparing payment structure, rate, and fees usually clarifies the better fit.
Should closing costs be included?
Yes. Closing costs reduce the cash that reaches you and increase the new loan amount if they are financed into the refinance.
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