Refinancerate

Cash-Out Refinance Calculator

See how much cash you can access from your home equity

Home & Loan Details

Use a recent appraisal or market estimate

Maximum: $0

New Loan Terms

Cash-out refinance rates are typically 0.25-0.5% higher

Above LTV Limit

Reduce your cash-out amount to $0 or less

Equity Analysis

Current Equity$0
Cash-Out Amount$50,000
Remaining Equity$0
New LTV Ratio0.0%

New Loan Details

New Loan Amount$0
New Monthly Payment$0
Loan Term30 years
Interest Rate7.000%

Ready to access your home equity?

How Cash-Out Refinancing Works

A cash-out refinance replaces your existing mortgage with a larger loan, giving you the difference in cash. You can use this money for:

  • Home improvements and renovations
  • Debt consolidation (credit cards, student loans)
  • Investment property down payments
  • Emergency expenses or medical bills
  • Education costs

Important Considerations

  • Higher rates: Cash-out refinance rates are typically 0.25-0.5% higher than rate-and-term refinances.
  • LTV limits: Most lenders cap cash-out refinances at 80% LTV (loan-to-value ratio).
  • Closing costs: You'll pay 2-5% of the new loan amount in fees, similar to your original mortgage.
  • Tax implications: Cash-out proceeds used for home improvements may be tax-deductible. Consult a tax advisor.