Cash-Out Refinance Calculator
See how much cash you can take out by refinancing, and what your new mortgage payment would be after closing costs.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter your home value, current balance and the lender's maximum LTV (often 80%).
- 2Enter the new rate, term and closing costs.
How it's calculated
New loan = value × max LTV (or less if you choose). Cash out = new loan − current balance − closing costs.
Frequently asked questions
How much can I cash out?
Conventional cash-out refinances usually cap the new loan at 80% of the home's value; VA can allow up to 90–100%.
Cash-out refinance or HELOC?
A cash-out refi replaces your whole mortgage — good if the new rate is similar or lower. A HELOC keeps your existing low-rate mortgage intact.
Is cash-out money taxable?
No, it's borrowed money, not income. Interest deductibility depends on how you use it — check with a tax professional.