Cash Out Refinance Calculator
Cash-out replaces your balance with a bigger loan and hands you the difference — enter current loan, new rate/term, costs, and cash wanted. Click any i for detail.
Cash-out refi
Current balance ($)
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Balance
Payoff amount on existing mortgage. |
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Current rate (%)
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Current rate
Rate on the loan being replaced. |
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Years left
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Years left
Remaining term on current loan. |
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New rate (%)
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New rate
Rate on the cash-out loan. |
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New term (years)
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New term
Amortization on the new loan. |
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Closing costs ($)
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Closing costs
Costs modeled as financed into loan. |
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Cash out ($)
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Cash out
Cash to you at closing. |
How to use this calculator
- Enter current loan details.
- Set new rate, term, costs, and cash out.
- Review new loan size and payments.
Results explained
Headline is modeled cash to you; breakdown shows new loan amount and P&I vs your current payment.
Quick reference: cash-out
LTV limits apply in real life.
| Item | Detail |
|---|---|
| New loan | Balance + cash + costs (sketch) |
| Payment | PMT on new loan |
Appraisal and max LTV cap proceeds — this is arithmetic, not an underwriting decision.
How the estimate is built
New principal = current balance + cash out + closing costs (financed sketch). Payment = PMT(new principal, new rate, new term).
Example scenario
$40k cash on a $265k payoff with $6k financed costs → about $311k new loan; payment depends on rate and 30-year term.
FAQ
Is cash-out taxable?
Loan proceeds generally are not income — confirm with a tax pro for your situation.
Pay costs in cash?
Financing costs raises the loan; paying cash lowers it.
Rate vs cash?
Higher loan amounts can push rate or require mortgage insurance.