Cash-Out Refinance Calculator: How Much Cash Can You Pull From Your Home?
Estimate your maximum cash-out, new monthly payment, and 10-year total cost across Conventional, FHA, VA, Jumbo, and Non-QM programs. Free, no signup, no credit pull.
Up to 80%Conv/FHA LTV
Up to 100%VA LTV
Real 2026rate defaults
9 statestax/insurance defaults
Cash-Out Refinance Calculator
Enter your current mortgage details + target program. Results update automatically.
Your Home + Current Mortgage
Cash-Out Setup
Debt Consolidation (Optional)
Using cash-out to pay off high-interest debt? Enter your current debt to see monthly cash flow + 10-year interest savings.
Estimated Cash to You at Closing
$0
Based on program LTV cap minus existing balance minus rolled closing costs
Max Total Loan Allowed$0
New Loan Amount (payoff + cash + closing)$0
Old Monthly P&I$0
New Monthly P&I$0
Monthly Payment Change$0
Excludes property tax + insurance which stay roughly the same before and after cash-out. Cash-out refi rate typically 0.25-0.5% higher than rate-and-term refi rate.
Property Tax (state default)$0/mo
Homeowners Insurance$0/mo
Estimated Full New PITI$0/mo
Enter your numbers to see the verdict.
Total Interest Comparison Over 10 Years
How much interest you'll pay under your CURRENT loan versus your NEW cash-out loan, plus the cumulative extra cost of taking cash-out. Shorter bars = less interest paid.
How This Calculator Works
Cash-out refinance math has 3 layers. This calculator handles all three so you see the full picture, not just the "cash out amount" headline every online calculator stops at.
1. Maximum Cash-Out (Program-Constrained)
Your cash-out is capped by the loan program's LTV maximum:
- Conventional cash-out: up to 80% LTV on 1-unit primary residence
- FHA cash-out: up to 80% LTV
- VA cash-out: up to 100% LTV (highest in market, VA-eligible only)
- Jumbo cash-out: up to 70-80% LTV depending on loan size + investor
- Non-QM cash-out: up to 75-85% LTV, for self-employed / DSCR files
The formula: (Home Value × LTV%) − Current Mortgage Balance − Closing Costs (if rolled in) = Cash to You. Change the program dropdown to see how the ceiling shifts on your file.
2. New Monthly Payment
The new loan pays off your existing mortgage + gives you the cash + rolls in closing costs. Your new payment is calculated on the FULL new loan amount at the new rate for the new term (typically 30-year fixed). Cash-out refi rates are typically 0.25-0.5% higher than rate-and-term refi rates because the lender is taking more risk (higher LTV, larger loan). Factor that spread into your "new rate" input.
3. 10-Year Total Cost Comparison
The chart shows total INTEREST paid over 10 years under two scenarios: (a) keeping your current mortgage, (b) taking the cash-out refi. If your current rate is significantly below the new cash-out rate, the extra interest cost on your existing balance for the next 10 years is REAL money you're giving up in exchange for the cash. That's why cash-out often doesn't pencil for buyers with locked-in 2020-2021 low first mortgages — the HELOC alternative preserves your low rate. See our Cash-Out Refi vs HELOC comparison for the full framework.
When Cash-Out Wins
- Your current rate is at or above today's cash-out rate (rare in 2026 with low-locked buyers)
- You need a large lump sum ($75K+) for a productive use (renovation, investment property, business capital)
- You're consolidating $30K+ of high-interest credit card debt (22% APR → 6.5% APR)
- You want fixed payments for the full term (vs variable HELOC)
- You're VA-eligible and want to access 100% of your equity in one product
When Cash-Out Loses (Consider HELOC Instead)
- Your current first mortgage rate is under 4% — you'd give it up on the entire balance
- You need flexible/ongoing draws (multi-phase renovation, business capital as needed) — HELOC only charges interest on drawn amount
- You want lower closing costs (HELOC typically $0-$1,500 vs cash-out refi's $8K-$18K)
- You expect rates to drop meaningfully and want the upside — HELOC's variable rate floats down with prime
See also: Cash-Out Refinance product page · HELOC product page · Cash-Out Refi vs HELOC decision framework · 5 Smart HELOC Uses (and 3 Backfires)
Victor Santos, NMLS #888844 — Your Wholesale Broker
Senior Loan Officer at OnPoint Mortgage Pro. Headquartered in Irvine, California. Licensed in 9 states. When you call, you talk to me — not a call center.
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- Real cash-out quote within 24 hours
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Verified reviews from OnPoint Mortgage Pro clients across purchase, refinance, and cash-out refi files. No edits. No curation.
Cash-Out Refinance Calculator FAQ
How accurate is this calculator?
The math is accurate for the inputs you enter (LTV cap, payment amortization, 10-year interest cost). Real-world rate depends on your specific FICO, LTV, occupancy, property type, and current market conditions at lock. Use the calculator to model scenarios; call OnPoint at (877) 870-0007 for a real quote.
Why is my max cash-out lower than 80% of my home value?
Because you have an existing mortgage that gets paid off first. Formula: (Home Value × LTV%) − Existing Balance − Closing Costs = Cash to You. Example: $700K home × 80% = $560K max total loan. Minus $300K existing mortgage minus $18K closing costs rolled in = $242K cash to you.
What rate should I plug into the "New Interest Rate" field?
Cash-out refi rates in July 2026 typically run 6.5-7.0% for Conventional 30-year fixed at 75% LTV with 720+ FICO. VA cash-out runs 0.25-0.5% lower. Non-QM cash-out (bank statement, DSCR, ITIN) runs 1-2% higher. The calculator's default of 6.5% is a good starting estimate for Conventional. Adjust based on your program.
What's a reasonable closing cost estimate?
Cash-out refi closing costs typically run 2-4% of the new loan amount, or roughly $8K-$25K on most cash-out files. The default $15K in this calculator is a reasonable estimate for a $400K-$500K new loan. Bump higher if you're in a high closing-cost state (California, New York) or lower if you have a lender credit offer. VA files add the funding fee on top — see next FAQ.
Should I roll closing costs into the loan or pay out of pocket?
Most cash-out borrowers roll closing costs into the loan (the calculator's default). This preserves your cash position + spreads the closing cost over 30 years of amortization. Paying out of pocket makes sense only if you have plenty of liquid cash AND want the absolute lowest monthly payment. Either way, the total closing cost dollar amount is the same — just how you pay it changes.
Why is HELOC better than cash-out for me?
If your current first mortgage rate is under 4% (typical for 2020-2021 refi buyers), cash-out gives up that rate on your ENTIRE existing balance to get cash. HELOC preserves the low first mortgage and adds a second lien at variable rate for the cash portion only. On low-rate first mortgages, HELOC almost always wins on 10-year total cost. See the full comparison.
Does the calculator handle VA funding fee?
Roughly, via the closing cost dollar field. VA cash-out funding fee runs 2.15% first-use (about $8K-$12K on a typical $400K-$550K loan) / 3.3% subsequent-use (about $13K-$18K), typically rolled into the loan on top of standard closing costs. If you're VA-eligible, add the funding fee estimate to your closing cost input to see the true cash-to-borrower number. Or call us for exact VA numbers.
Are the property tax + insurance defaults accurate?
They're state effective averages. California 1.10%, Texas 1.74%, Colorado 0.51%, Florida 0.83%, etc. Actual property tax varies by county and city; insurance varies significantly by property type, coastal vs inland, wildfire risk, etc. Use the state defaults as a starting estimate. Adjust when you have your specific property tax bill + insurance quote.
Can I use cash-out proceeds for anything?
Legally yes — cash-out proceeds are not restricted by the lender. Most homeowners use for debt consolidation, home improvement, investment property down payment, tuition, business capital, or emergency reserves. Note: interest tax-deductibility depends on use of proceeds (home improvement qualifies under current TCJA rules; debt consolidation and other uses do not). Consult a CPA.
Ready for a Real Cash-Out Quote?
This calculator gives you the math. What it can't give you is the specific rate + program combination for YOUR file across 20+ wholesale lenders. Call OnPoint Mortgage Pro for a free consultation. Under 30 minutes. No credit pull at first call.
(877) 870-0007