Cash-Out Refinance Calculator
Free cash-out refinance calculator to see how much cash you can take out, your new payment, and the true lifetime cost of the cash versus a HELOC or home equity loan.
Example Scenarios
Repricing Trap
5.5% → 6.9% • $60k cash
Max Cash at 80%
$500k home • ~$98k max
Low Rate → HELOC Wins
3.25% mortgage • $50k cash
High Rate Cash-Out
7.5% → 6.25% • $40k cash
Cash-Out Details View Results
Cash-Out Analysis
Cash-Out vs HELOC vs Home Equity Loan
| Option | Total Monthly | Added Interest | Lifetime Interest |
|---|
Payment and Payoff Comparison
| Current payoff date | – |
| New payoff date (cash-out) | – |
Interest Attribution Breakdown
How This Is Calculated
Max cash = LTV cap times home value minus your balance and rolled-in closing costs. True cost compares remaining interest on your current loan against total interest on the new loan, then splits the difference between cash interest and repricing the existing balance at the higher rate.
Everything behind the Cash-Out Refinance Calculator
Formulas, reference charts, and detailed answers — expand any section you need.
Cash-Out Refinance Calculator With Max LTV
The cash-out refinance calculator applies the max LTV math lenders use: total new loan capped at 80% of home value on conventional loans, with the cash being whatever remains after the current balance and rolled-in costs.
| Home Value | Current Balance | Max Cash at 80% LTV |
|---|---|---|
| $400,000 | $250,000 | ~$70,000 |
| $500,000 | $290,000 | ~$98,000 |
| $650,000 | $360,000 | ~$160,000 |
Before closing costs; rolling them in reduces the cash accordingly, which the calculator handles.
Cash-Out Refinance Calculator: How Much Cash Can You Get?
This cash-out refinance calculator shows the maximum cash your equity allows, the new loan and payment it creates, and what the cash truly costs over the loan's life. Enter your home value, balance, and rates, and the cash-out refinance calculator computes max cash at the standard 80% LTV cap, then prices the same cash as a HELOC and home equity loan beside it, since the refinance is frequently the most expensive of the three.
Example: A $500,000 home with a $290,000 balance allows roughly $98,000 in cash at 80% LTV after rolled-in closing costs at 3%.
How Does a Cash-Out Refinance Work?
A cash-out refinance replaces your current mortgage with a larger one and pays you the difference in cash. The critical mechanic: the new rate applies to the entire new balance, not just the cash taken, and the term typically resets to a fresh 30 years. When your existing rate is below today's, that repricing quietly becomes the largest cost of the transaction, and the calculator itemizes it separately from the cost of the cash itself.
Cash-Out Refinance vs HELOC vs Home Equity Loan
Cash-out refinance vs HELOC is the comparison that decides most cases: the refinance reprices your whole mortgage to get the cash, while a HELOC or home equity loan leaves the existing mortgage untouched and prices only the new money. With a low existing rate, the second-lien options usually win by tens of thousands; with a high existing rate, the cash-out can win by refinancing the whole balance downward while extracting cash. The three-way table runs your exact numbers and names the cheapest path.
What Does a Cash-Out Refinance Cost? The Repricing Trap
The true cost of a cash-out splits in two: interest on the cash itself, and the repricing of your existing balance at the new rate over a reset term. Moving $290,000 from 5.5% to 6.9% to extract $60,000 can add more interest through repricing than through the cash, which means the effective cost of that $60,000 approaches double its face value. The calculator's attribution breakdown shows both components, which is exactly the split lender marketing omits.
Cash-Out Refinance Rates vs Regular Refinance Rates
Cash-out refinance rates typically run about 0.125% to 0.5% above rate-and-term refinance rates, since lenders price the higher LTV and cash extraction as added risk. Enter the actual cash-out quote rather than an advertised refinance rate, and the calculator prices the transaction as it would really close, not as the rate sheet implies.