Rex says
Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.
Try a scenario
Click to load — tweak from there.Inputs
Result
Cash you would receive
$109,000
New monthly payment
$2,712.01
Current monthly payment
$1,655.08
Payment increase
$1,056.93
New loan amount
$416,000
Extra lifetime interest
$383,659
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How to use this
- 1Enter home value ($).
- 2Enter current balance ($).
- 3Enter current rate (%).
- 4Enter years remaining.
- 5Enter max ltv on the new loan (%).
- 6Enter new rate (%).
- 7Enter new term (years).
- 8Enter closing costs ($).
- 9Read your cash you would receive on the right — it updates as you type.
- 10Hit Share to keep the scenario or send it to someone.
About this calculator
Cash-out refinancing resets the clock on your mortgage. Pulling equity at a higher rate than your current loan can cost more in interest than the cash is worth.
Worked example
Using the values the calculator loads with:
Inputs
- Home value: 520000 $
- Current balance: 300000 $
- Current rate: 4.2 %
- Years remaining: 24
- Max LTV on the new loan: 80 %
- New rate: 6.8 %
- New term (years): 30
- Closing costs: 7000 $
Results
- Cash you would receive: $109,000.00
- New monthly payment: $2,712.01
- Current monthly payment: $1,655.08
- Payment increase: $1,056.93
- New loan amount: $416,000.00
- Extra lifetime interest: $383,659.07
What each field means
Inputs
- Home value ($)
- The home value used in the calculation, measured in $. Starts at 520000 $ so you have a working example on load.
- Current balance ($)
- The current balance used in the calculation, measured in $. Starts at 300000 $ so you have a working example on load.
- Current rate (%)
- The current rate used in the calculation, measured in %. Starts at 4.2 % so you have a working example on load.
- Years remaining
- The years remaining used in the calculation. Starts at 24 so you have a working example on load. Accepted range: 1–40.
- Max LTV on the new loan (%)
- The max ltv on the new loan used in the calculation, measured in %. Starts at 80 % so you have a working example on load. Accepted range: 50–95 %.
- New rate (%)
- The new rate used in the calculation, measured in %. Starts at 6.8 % so you have a working example on load.
- New term (years)
- The new term (years) used in the calculation. Starts at 30 so you have a working example on load. Accepted range: 10–40.
- Closing costs ($)
- The closing costs used in the calculation, measured in $. Starts at 7000 $ so you have a working example on load.
Results
- Cash you would receive
- Returned as a money amount in US dollars and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- New monthly payment
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Current monthly payment
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Payment increase
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- New loan amount
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Extra lifetime interest
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
FAQ
How does the cash-out refinance calculator work?
Cash-out refinancing resets the clock on your mortgage. Pulling equity at a higher rate than your current loan can cost more in interest than the cash is worth. The underlying maths is: Cash out = New loan − old balance − closing costs.
What do I need to enter?
8 values: home value, current balance, current rate, years remaining, max ltv on the new loan, new rate, new term (years), and closing costs. Each field starts with a sensible default, so you can change one number at a time and watch the result move.
What does the cash you would receive result mean?
It is returned as a money amount in US dollars and updates live as you edit the inputs, so you can compare two or three versions of a scenario in a few seconds.
Is this calculator free, and do I need an account?
Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser.
How accurate is the result?
It applies the standard formula exactly, so the arithmetic is precise. Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
Who is this tool for?
It's built for anyone comparing money scenarios before committing — budgeting a payment, sanity-checking a quote, or seeing what a change in rate or term actually costs.
Accuracy and limitations
- Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
- Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.
- This is educational maths, not financial advice. Check anything contractual with the lender or your accountant.
Related tools
Cite this calculator
Writing about this topic? Grab a citation — every link helps keep these tools free.
RevenueLab. (2026). Cash-Out Refinance Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/cash-out-refinance
<p>Source: <a href="https://www.revenuelab.fyi/toolbox/cash-out-refinance" target="_blank" rel="noopener">Cash-Out Refinance Calculator — RevenueLab</a> (2026).</p>
Source: [Cash-Out Refinance Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/cash-out-refinance) (2026).