Calculate Your Cash-Out Refinance

Interested in tapping into your home’s equity for extra cash? Our Cash-Out Refinance Calculator helps you estimate how much cash you can take out by refinancing your current mortgage. This tool also allows you to compare your current loan with the potential benefits of a cash-out refinance, so you can make informed decisions about your financial future.

How to Use the Calculator:

Simply enter your current mortgage details—such as your loan balance, interest rate, and remaining term—along with the estimated value of your home and the amount of cash you want to withdraw. The calculator will show you how refinancing could change your monthly payment and how much cash you could receive based on your home’s equity.

Benefits of Cash-Out Refinancing:

Cash-out refinancing allows you to leverage your home’s equity to access cash for home improvements, debt consolidation, education expenses, or other financial goals. It also lets you adjust your mortgage terms to potentially secure a lower interest rate or more favorable repayment terms, all while unlocking the cash you need.

Common Scenarios:

For example, if your home is valued at $400,000 and you owe $250,000 on your mortgage, a cash-out refinance could allow you to withdraw some of the $150,000 in home equity (minus closing costs). This calculator will help you understand how much cash you can access and how the new loan terms will impact your monthly payments.

Things to Consider:

While cash-out refinancing can be a great way to access funds, it's important to consider the impact on your loan terms, interest rates, and overall financial picture. This calculator is a starting point to help you explore your options, but be sure to consult with a mortgage expert before making a decision.

Ready to unlock your home’s equity? Use our Cash-Out Refinance Calculator to explore how much cash you could access, and contact us for personalized advice on refinancing. Our team is here to help you achieve your financial goals with the best possible loan terms.