Finance category
Mortgage, loan, investing, tax, and money calculators.
Refi Cash to Close Calculator
The final cash number on a refinance Closing Disclosure depends on the new loan, the payoff, closing costs, prepaid tax and insurance, and any cash-out. This calculator pulls those pieces together to show wire-out or cash-back.
Cash to close
$0
wire amount to title
Cash back at close
$29,900
from cash-out
Total uses of funds
$355,100
payoff + costs + prepaids + cash-out
How the math works
Refinance cash to close is simpler than purchase CTC but has more moving parts than most borrowers expect. The new loan amount funds the payoff of the old loan, closing costs, prepaids (property tax, insurance, per-diem interest), and any cash-out. Whatever is short comes from the borrower at closing.
Prepaids are sometimes confused with closing costs. They fund the new escrow account and per-diem interest from closing day through month-end. They're not a lender fee — you would have paid them anyway.
How to Use
- Enter the new loan amount.
- Enter the current mortgage payoff quote (principal + per-diem interest through close).
- Enter total refinance closing costs (lender fees, title, appraisal, recording).
- Enter prepaids — new escrow deposit, prepaid interest, and first premium on hazard insurance.
- Enter cash-out if doing a cash-out refi. The calculator shows net cash to close vs cash back.
Frequently Asked Questions
What's the difference between closing costs and prepaids?
Closing costs are lender and third-party fees for originating the loan (appraisal, title, origination, recording). Prepaids fund the new escrow account for property tax and insurance plus per-diem interest from closing through month-end — you would have paid those anyway.
Why does the escrow refund from the old loan matter?
Your current escrow balance gets mailed back separately after the old loan is paid off. It doesn't typically appear on the new CD, but it meaningfully reduces your actual cash outlay. Budget for a 30–45 day refund window.
Can I finance closing costs?
Often yes, by increasing the new loan amount. Check loan-to-value limits (typically 80% for conventional rate/term refi, 80% for cash-out) and whether the rate bump for the larger loan makes sense vs paying cash.
What about the old loan's final payment?
Most borrowers make their usual monthly payment the month before close, and the payoff quote includes per-diem interest through the close date. Skipping a payment before close is fine if the payoff reflects it correctly.
Related Calculators
Refinance Calculator
Full refinance comparison including break-even.
Refinance Closing Cost Calculator
Break down the individual closing-cost lines.
Cash-Out Refinance Calculator
Cash-out refi mechanics and LTV limits.
Escrow Refund Calculator
Size the refund from the old escrow account.
Prepaid Interest Calculator
Per-diem interest through month-end.
Closing Cost Calculator
Purchase version — compare to refinance CTC.
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