Cash-Out Refinance Calculator
How much cash you can pull, and what it costs.
Enter your values
Enter the home value in $.
Enter the current mortgage balance in $.
Enter the maximum loan-to-value in %.
Enter the new interest rate in %.
Enter the new term in yr.
Enter the closing costs in %.
Enter the current monthly payment (p&i) in $.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Cash you receive
- $110,560.00
- New loan amount
- $384,000.00
- New monthly payment
- $2,490.62
- Payment increase
- $1,010.62
- Closing costs
- $13,440.00
- Total interest over the new loan
- $512,622.01
- Equity remaining
- $96,000.00
Quick answer
Cash out = (home value × maximum LTV) − current balance − closing costs, and the true cost is the payment increase spread over the new loan term.
Cash out = value × LTV − balance − costs
At a glance
| What it does | How much cash you can pull, and what it costs. |
|---|---|
| Category | Finance |
| Inputs needed | Home value, Current mortgage balance, Maximum loan-to-value, New interest rate, New term, Closing costs, Current monthly payment (P&I) |
| Main output | Cash you receive |
| Formula | Cash out = value × LTV − balance − costs |
| Cost | Free — no sign-up, no download |
How to use the Cash-Out Refinance Calculator
- 1Enter your home's value and current mortgage balance.
- 2Set the maximum LTV your lender allows — usually 80%.
- 3Enter the new rate, term and closing cost percentage.
Inputs explained
- Home value($)
- Enter the home value in $.
- Current mortgage balance($)
- Enter the current mortgage balance in $.
- Maximum loan-to-value(%)
- Enter the maximum loan-to-value in %.
- New interest rate(%)
- Enter the new interest rate in %.
- New term(yr)
- Enter the new term in yr.
- Closing costs(%)
- Enter the closing costs in %.
- Current monthly payment (P&I)($)
- Enter the current monthly payment (p&i) in $.
Worked example
Using the values the calculator loads with:
Inputs
- Home value480000 $
- Current mortgage balance260000 $
- Maximum loan-to-value80 %
- New interest rate6.75 %
- New term30 yr
- Closing costs3.5 %
- Current monthly payment (P&I)1480 $
Results
- Cash you receive$110,560.00
- New loan amount$384,000.00
- New monthly payment$2,490.62
- Payment increase$1,010.62
- Closing costs$13,440.00
- Total interest over the new loan$512,622.01
- Equity remaining$96,000.00
Frequently asked questions
Is cash-out refinancing cheaper than a personal loan?
The rate is much lower, but you are securing the debt against your home and stretching it over 30 years, which can cost more in total interest.
How much equity must I keep?
Conventional lenders require 20% equity after the cash-out; VA loans allow up to 100% LTV in some cases.
What do I need to enter into the Cash-Out Refinance Calculator?
Just 7 values: home value, current mortgage balance, maximum loan-to-value, new interest rate, new term, closing costs, current monthly payment (p&i). Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Cash-Out Refinance Calculator work out the answer?
Cash out = (home value × maximum LTV) − current balance − closing costs, and the true cost is the payment increase spread over the new loan term. It applies the formula Cash out = value × LTV − balance − costs and shows the working so you can check each step by hand.
Is the Cash-Out Refinance Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.