Cash-Out Refinance Calculator

Your details

The current market value of your home. A licensed appraisal or recent comparable sales give the most accurate figure.
The outstanding principal you still owe on your existing mortgage, not the original loan amount.
The lump sum you want to receive at closing. Most lenders cap total borrowing at 80% of home value.
The annual interest rate on your existing loan. Used to calculate your current payment and total interest for comparison.
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How many years are left on your current mortgage. If you have 25 years remaining on a 30-year loan, enter 25.
years
The annual interest rate offered on the new cash-out refinance loan. Shop multiple lenders; a 0.25% difference meaningfully changes lifetime costs.
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A shorter term means higher monthly payments but far less total interest. A 15-year loan typically saves tens of thousands over a 30-year loan.
Total upfront fees including origination, appraisal, title, and recording fees. Typically 2-5% of the new loan amount. Some lenders roll these into the loan.
When enabled, closing costs are added to the new loan principal rather than paid out of pocket at closing. This increases the loan amount and total interest paid.
Currency
New monthly paymentLTV within standard limit
$1,738.70

Principal and interest on the new loan (does not include taxes, insurance, or PMI)

Current monthly payment$1,688.02
Monthly payment change-$50.68
New loan amount$290,000
Max cash available (80% LTV)$70,000
New loan-to-value (LTV)72.5%
Total interest - new loan$335,931
Total interest - current loan$256,405
Lifetime interest difference$79,525
Remaining equity$110,000
Current Loan$258,093.39
New Loan$337,669.44

Monthly change: -$50.68

  • Monthly payment
  • Total interest
72.5% %
LTV OK<80PMI likely80-90Too high90+

Your new payment is $1,738.70, up from the current payment.

  • Your new LTV is 72.5%, within the 80% threshold most lenders accept for cash-out refinancing.
  • Your monthly payment increases by $51 because the new loan is larger.
  • You will pay $79,525 more in total interest over the life of the new loan compared to finishing your current mortgage.

Next stepCompare at least three lenders before locking a rate. Even a 0.25% rate difference can shift your break-even by a year and change total interest by thousands.

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