Estimate: home value × max LTV (e.g., 80%) minus current payoff minus closing costs = your approximate cash. Compare the new payment against keeping your current loan plus a second lien.
The formula
Multiply home value by the program’s max LTV (about 80% conventional), subtract your current payoff and closing costs, and that’s your approximate cash. The new payment depends on the full new balance, rate, and term.
Example
On a $1,000,000 home with a $500,000 payoff at 80% LTV: $1,000,000 × 0.80 = $800,000 new loan, minus $500,000 payoff = about $300,000 before costs, subject to qualifying. We’ll run your real numbers and compare alternatives.
| Input | Effect |
|---|---|
| Higher home value | More cash |
| Lower current payoff | More cash |
| Higher max LTV | More cash |
| Lower current rate | Favors a HELOC instead |
Frequently asked questions
Can you estimate my cash and payment?
Yes — give us your value, payoff, and rate goal; we’ll show the cash-out and new payment.
Should I compare to a HELOC?
Absolutely — if your current rate is low, a HELOC or home equity loan may cost less overall. We show both.
Is the estimate guaranteed?
No — illustrative until appraisal and underwriting confirm value and terms.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.