Home Equity Cash-Out Calculator

Turn equity into cash with smarter refinance math. Adjust loan limits, costs, and escrow assumptions. Review payments, compare scenarios, then download your summary files.

Enter your details
Tip: Use “Maximum cash-out” to see your limit quickly.
Current market value estimate.
Outstanding first-lien balance.
Used for combined LTV (CLTV).
Common cash-out limits are 75–85%.
Financing fees reduces maximum cash-out capacity.
Estimated lender + third-party costs.
Adds on top of percent-based costs.
Optional upfront cost to reduce rate.
Optional: compare against current loan
If you enter these, the calculator estimates your current payment (P&I) and shows the monthly change.
Escrow + HOA is assumed unchanged for comparison.
Reset

Example scenarios

These are illustrative examples, not offers. Real approvals depend on lender rules, credit, appraisal, and local fees.

Scenario Home value Current balance Second lien Max CLTV Rate / term Estimated max cash-out
Starter refinance $300,000 $180,000 $0 80% 8.25% / 30y $60,000
With second lien $450,000 $250,000 $40,000 80% 8.00% / 30y $70,000
Higher limit $600,000 $310,000 $0 85% 7.75% / 20y $200,000
Run your own numbers above for personalized estimates.

Formula used

  • Max first-lien allowed = (Home value × Max CLTV%) − Second lien balance
  • Base loan = Current mortgage balance + Cash-out requested
  • Fees = (Base loan × Closing cost %) + Closing fixed + (Base loan × Points %)
  • New loan amount = Base loan + Fees (if fees are financed)
  • Monthly P&I = r·L / (1 − (1 + r)−n), where r = APR/12 and n = years×12
  • Monthly total = P&I + (Annual tax + Annual insurance)/12 + HOA

This calculator estimates fees from your inputs and solves maximum cash-out with a numeric search when fees are financed.

How to use this calculator

  1. Enter your home value, current balance, and any second lien amount.
  2. Choose a maximum combined LTV limit that matches your target guideline.
  3. Enter a cash-out amount, or select Maximum cash-out (auto).
  4. Set your new rate, term, and fee assumptions (percent, fixed, points).
  5. Add taxes, insurance, and HOA to estimate your full monthly payment.
  6. Press Calculate, then download CSV or PDF for sharing.
Disclaimer: Educational estimates only. Not financial advice.

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Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.