Turn equity into cash in hand.
A cash-out refinance replaces your mortgage with a larger one and pays you the difference — but lenders cap how much of your equity you can tap, and the cap is tighter on property you don't live in. Enter your value and balance to see a realistic cash-out at typical limits, plus the new loan and LTV it creates. Then we price the real thing across 50+ lenders.
Home value
Current loan balance
$320,000 in equity today
How's the property used?
Modeling a 80% max LTV cash-out — a common ceiling for a home you live in. Real caps depend on your credit and program.
An estimate, not an offer. Your real max LTV, rate, and costs depend on your credit, property, and program.
How cash-out actually works.
A cash-out refinance replaces your mortgage with a larger one and hands you the difference in cash. The lender won't lend against all your equity, though — they cap it at a maximum loan-to-value, so your new loan can only grow to a set percentage of the home's value. This calculator applies a typical cap, subtracts what you still owe, nets out estimated costs, and shows the cash that would actually land in your account.
The LTV cap depends on the property.
Cash-out limits are tighter than rate-and-term, and they tighten further on properties you don't live in — a home you occupy typically allows more cash-out than an investment property. That's why the occupancy toggle above changes your number. Credit and program move it too, so treat the result as a well-informed ballpark, not a promise. The real cap comes out of underwriting.
Is pulling equity the right call?
Cash-out shines for a value-adding remodel, consolidating high-interest debt into a far cheaper rate, or funding the down payment on your next property. It's less wise for depreciating splurges — you're securing that spending against your home and stretching it over decades. We'll run the break-even and the trade-offs honestly with you, then price a real cash-out if it makes sense.
Straight answers.
Straight answers — the same way you'd get them on the phone.
How much equity can I actually take out?+
Usually up to a maximum loan-to-value — commonly around 80% on a home you live in and lower on investment property — minus what you still owe and closing costs. The calculator above models exactly that; your real cap depends on credit and program.
Does a cash-out refinance have a higher rate?+
Typically a bit higher than a rate-and-term refinance, because you're borrowing against more of your equity. It's still often far cheaper than the debt people use it to pay off. We'll show you the real number, not a guess.
What can I use the cash for?+
Anything — but some uses are wiser than others. Home improvements, high-interest debt payoff, and buying another property tend to pencil; funding depreciating purchases against your home is where we'll gently push back.
Will I have to pay mortgage insurance on a cash-out?+
If your new loan stays at or under 80% LTV on a primary home, typically no PMI. Push higher and it can apply. The calculator shows your resulting LTV so you can see which side of that line you land on.
This calculator is an educational estimate only — not a loan commitment, offer to lend, or guarantee of available cash. Real maximum LTV, rate, and costs vary by lender, occupancy, credit, and program. Refinancing may increase the total interest paid over the life of the loan.
Like the number you see?
Let's price a real cash-out and check it against your break-even — the honest way, across 50+ lenders.