Cash-Out Refinance Calculator
Estimate how much cash you can pull from your home equity through a cash-out refi, plus your new loan balance and monthly payment at current home refinance rates.
Quick Answer
On a $450,000 home with a $260,000 balance, you could cash out up to $100,000 while staying at 80% LTV, resulting in a new monthly payment of about $2,328.
Home & Loan Details
Max available at 80% LTV: $100,000
New Monthly Payment
$2,328
New Loan Amount
$365,000
Cash to You
$100,000
New LTV
81.1%
Remaining Home Equity
$85,000
Total Interest on New Loan
$473,900
New Loan Amortization Schedule
Yearly view| Year | Principal | Interest | Balance |
|---|
What Is a Cash-Out Refinance Calculator?
A cash-out refinance calculator estimates how much equity you can convert to cash by replacing your current mortgage with a larger loan. Most lenders cap cash out refi loans at 80% of your home's value (LTV), meaning the new loan balance, including the cash you take out, generally can't exceed that limit. This tool shows your new loan amount, updated monthly payment, and remaining home equity.
Home Refinance Rates Today
Current home refinance rates for cash-out loans are typically slightly higher than rate-and-term refinances, since lenders price in the added risk of a larger loan balance.
| Loan Type | Rate | APR |
|---|---|---|
| Cash-Out Refi (30 yr) | 6.65% | 6.87% |
| Cash-Out Refi (15 yr) | 6.05% | 6.24% |
| Standard Refinance (30 yr) | 6.50% | 6.68% |
Rates shown are illustrative averages. Confirm current home refinance rates with your lender.
How to Use This Calculator
- Enter your home's current market value.
- Enter your remaining mortgage balance.
- Set the cash amount you want to take out.
- Enter the new interest rate and loan term.
- Review your new payment, LTV, and remaining equity.
Frequently Asked Questions
How much cash can I take out with a cash-out refinance?
Most lenders limit cash-out refi loans to 80% of your home's appraised value, minus your remaining mortgage balance and closing costs.
Does a cash-out refinance raise my interest rate?
Often yes. Cash-out refinance rates tend to run slightly higher than standard rate-and-term refinance rates because the loan balance and risk are larger.
What can I use cash-out refinance funds for?
Common uses include home renovations, debt consolidation, education costs, or building an emergency fund, though the funds can generally be used for any purpose.