Cash-Out Refinance Calculator

A cash-out refinance replaces your mortgage with a bigger one and hands you the difference, so the question is not whether the rate dropped but what the cash costs. Enter the home value, the current balance, rate and years left, the cash you want out, the new rate and term, and the closing costs, and choose whether those costs are rolled into the loan. It returns the new loan amount, the loan-to-value, how much room is left under the usual eighty percent line, both monthly payments, and the extra paid across the whole term expressed per dollar released. Property tax, insurance and mortgage insurance are not included.