Cash-Out Refinance Calculator — equity withdrawn + new payment/cost.
Cash-Out Refinance Calculator
Estimate the new loan amount, monthly payment, closing costs, and how much equity you can pull out.
Refinance details
Loan snapshot
How a cash-out refinance works
A cash-out refinance replaces the existing mortgage with a larger loan. The new loan pays off the old balance, and the difference is distributed to the borrower as cash.
This calculator estimates how much cash you could take out based on your property value, current mortgage balance, and the new loan terms. It also projects the new monthly payment and the effect of fees on your net proceeds.
Cash-out refinances may be useful for high-value home improvements, debt consolidation, or other large expenses, but they increase the loan balance and may raise monthly costs. This is a planning estimate and not a lender commitment.
- Higher home value can increase access to equity.
- Longer terms reduce payment but increase total interest.
- Closing costs reduce net cash received.
- Rate changes may increase or decrease monthly cost.
Frequently asked questions
How is the new loan amount calculated?
The new mortgage generally equals the old mortgage balance plus the cash-out amount, minus any closing costs or deductions that reduce the net proceeds.
How much cash can I take out?
It depends on your property value, current loan balance, and lender requirements. The calculation often involves the loan-to-value ratio and cash-out limits.
Will my payment go up?
Possibly. A larger balance or a longer term can raise the monthly payment, while a lower rate may offset some of the increase.
What fees should I expect?
Closing costs may include origination fees, appraisal fees, title work, and other lender or third-party charges.
Is this a lender quote?
No. This is an educational estimate intended for planning, not a lender commitment or final mortgage offer.
Does this include taxes or insurance?
No. This estimate focuses on the mortgage loan itself and does not include property taxes, homeowners insurance, or HOA fees.