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See how much cash you can take out of your home. Enter your home value, current mortgage balance, and the maximum loan-to-value your loan allows to get your cash available and new monthly payment.
Estimate only. Conventional cash-out usually caps at 80% LTV (FHA up to 80%, VA up to 100% for eligible borrowers). Payment is principal & interest, excluding taxes and insurance.
A cash-out refinance replaces your current mortgage with a larger one and gives you the difference in cash. Cash available = (Home value × max LTV) − current balance − closing costs. On a conventional loan the new loan is usually capped at 80% of your home’s value; FHA also caps at 80%, and eligible VA borrowers can go up to 100%. The cash is tax-free because it is borrowed money, and the entire balance is re-amortized at today’s rate over your new term.
Deciding how to tap equity? Compare it against a line of credit with our HELOC calculator, and read rate-and-term vs cash-out refinance or HELOC vs cash-out. Ready to move? Explore our cash-out refinance program.
On a conventional loan you can typically borrow up to 80% of your home’s value, minus your current mortgage balance and closing costs. FHA also caps at 80%; eligible VA borrowers can access up to 100%. This calculator estimates that cash for you.
No. The cash is loan proceeds, not income, so it is not taxed. Interest may be tax-deductible only if you use the funds to buy, build, or substantially improve the home securing the loan — confirm with a tax advisor.
Conventional cash-out generally starts around a 620 score, FHA can go lower, and the best rates go to 700+. A larger amount of retained equity also helps you qualify and price better.
A cash-out refinance replaces your whole loan at one fixed rate, which is often better if today’s rate is near your existing rate. A HELOC leaves your first mortgage alone and only charges interest on what you draw, which is often better if you have a low first-mortgage rate to protect.
Usually yes — you are borrowing more, and often at a different rate, so the re-amortized payment is typically higher. This calculator shows the new principal-and-interest payment so you can compare.
We shop multiple lenders to get you the most cash at the best rate. Free quote, no credit pull to start.