Cash-Out Refinance Calculator
Cash-Out Refinance Analysis
Analyze your cash-out refinance scenario
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Formula
New loan = Current balance + Cash out + Closing costs. M = P[r(1+r)^n] / [(1+r)^n - 1]
Frequently Asked Questions
What is a cash-out refinance?
A cash-out refinance replaces your existing mortgage with a larger loan, giving you the difference in cash. You can use the funds for home improvements, debt consolidation, or other expenses.
How much cash can I take out?
Most lenders allow cash-out refinancing up to 80% of your home value. VA loans may allow up to 100%. The amount depends on your equity, credit score, and lender requirements.
Cash-out refi vs home equity loan?
A cash-out refi replaces your entire mortgage at a new rate and term. A home equity loan adds a second payment. Cash-out refis often have lower rates but reset your mortgage clock.
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