Cash-Out Refinance Calculator
Tap equity while restructuring your mortgage.
What this calculator helps you estimate
This calculator estimates how much equity you may be able to convert to cash through a cash-out refinance, along with the estimated new payment.
A cash-out refinance replaces your existing mortgage with a larger loan and returns the difference as cash. Availability, loan-to-value caps, and pricing vary by program and credit profile.
Inputs
Home & cash-out details
Program-dependent.
Results
Cash-out summary
Interpretation
Maximum LTV, eligible cash-out, seasoning, credit, occupancy, and property requirements vary by loan program.
Understand the math
How this calculator works
A cash-out refinance replaces your existing mortgage with a larger one and returns the difference to you at closing. This calculator estimates how much cash you may be able to access based on your home's value, current balance, and a target loan-to-value limit.
Worked example
$500,000 home value, $280,000 current balance, refinancing to 80% loan-to-value with $6,000 in closing costs.
- New loan amount = $500,000 × 80% = $400,000
- Cash out = $400,000 − $280,000 (payoff) − $6,000 (costs) = $114,000
Estimated cash out ≈ $114,000, with a new estimated payment on the $400,000 loan.
How to read your results
Interpretation guidance
- Loan-to-value caps vary by program and occupancy — investment properties typically allow less cash out than a primary residence.
- Cash out increases your loan balance and monthly payment, even if your rate is similar to or lower than your current one.
- Compare the new payment here to your current payment to see the full trade-off, not just the cash received.
- This is an estimate — actual maximum LTV and available cash depend on appraisal, credit, and program guidelines.
Deeper answers
More questions about this calculator
How much cash can I get from a cash-out refinance?
It depends on your home's value, current mortgage balance, and the program's maximum loan-to-value limit. Many conventional cash-out refinances cap at 80% LTV; other programs may differ.
Do I have to use the cash for a specific purpose?
Usually not — common uses include debt consolidation, home improvements, education, or investment. A Vabasso expert can walk through the trade-offs.
Does cash-out refinancing cost more than rate-and-term refinancing?
Cash-out refinances often carry slightly higher pricing than rate-and-term refinances due to the added risk of a larger loan balance.
Will my payment go up after a cash-out refinance?
Often yes, since the new loan amount is larger — compare the new estimated payment to your current one before deciding.
Results are estimates for educational purposes only and are not a commitment to lend, loan approval, or official Loan Estimate. Actual rates, payments, costs, taxes, insurance, mortgage insurance, eligibility, and loan terms may vary.
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Answers
Frequently asked questions
How much cash can I get from a cash-out refinance?
It depends on your home's value, current mortgage balance, and the program's maximum loan-to-value limit. Many conventional cash-out refinances cap at 80% LTV; other programs may differ.
Do I have to use the cash for a specific purpose?
Usually not — common uses include debt consolidation, home improvements, education, or investment. A Vabasso expert can walk through the trade-offs.
Next step
Numbers are helpful. A personalized strategy is better.
Review your scenario with a Vabasso mortgage expert. No pressure, no obligation — just clear guidance for your next move.