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Cash-Out Refinance Calculator — Cash, Payment & LTV

Enter your home value, balance, and rates to see the cash you can pull out and what it does to your monthly payment.

Updated July 2026 · Editorial standards

Cash you receive at closing
$50,000
New monthly payment
$2,055.78
Payment increase vs today
$367.77
Max cash (80% LTV)$60,680New loan$309,000Closing costs$9,000LTV after77.3%

Your refinance

$
$
$
%
years

Key figures

Cash at closing
$50,000
New monthly payment
$2,055.78
New loan
$309,000
LTV after refinancing
77.3%
Total interest (new term)
$431,082

Pulling $50,000 of equity makes your new payment $2,055.78/month — $367.77 more than today — with $9,000 of closing costs rolled into the $309,000 loan.This model uses the conventional-loan 80% LTV cap — a modeling assumption, not a universal rule (VA cash-out refis can go higher; program limits vary by lender). A cash-out refi replaces your ENTIRE mortgage at the new rate — if your current rate is lower, you're repricing all of it, not just the cash. Compare against a home equity loan or HELOC, which leave the first mortgage untouched.

Cash at closing
$50,000
By KalkWiseVerified against official sources Updated July 2026

What is the cash-out refinance calculator 2026?

In short

On a $400,000 home with a $250,000 balance, the 80% LTV cap leaves $70,000 of equity headroom — about $60,680 of actual cash if you roll 3% closing costs into the loan. Taking $50,000 at 7% over 30 years makes the new loan $309,000 with a $2,056 monthly payment, about $368 more than the old 6.5% loan's $1,688.

This calculator sizes a cash-out refinance: the maximum cash the 80% loan-to-value cap allows, the new loan after rolling in closing costs, the new monthly payment versus your current one, the resulting LTV, and total interest over the new term. It clamps the cash to what your equity actually supports.

How to use this calculator

  1. 1Enter your home's value and the balance on the mortgage being replaced.
  2. 2Enter your current rate and remaining years — used to compare payments honestly.
  3. 3Enter the cash you want; the calculator caps it at the conventional 80% LTV limit.
  4. 4Set the new rate, term, and closing-cost percentage (typically 2–5%, modeled as rolled into the loan).

The formula

max cash=home value×80%−balance
new loan=balance+cash+closing costs
new payment=new loan×r1−(1+r)−n
Max cash = home value × 80% − current balance. New loan = balance + cash + closing costs. New payment = amortized payment on the new loan at the new rate and term.
80%
— Conventional cash-out LTV cap on the NEW loan (VA loans allow up to 100%)
closing costs
— Typically 2–5% of the loan — rolled into the balance here
new payment
— Replaces your ENTIRE mortgage payment — the whole balance reprices at the new rate

Worked example

The scenario

gives

The result

Common use cases

  • Homeowners comparing a cash-out refi against a home equity loan or HELOC for a renovation
  • Debt consolidation — replacing 20%+ credit card APR with mortgage-rate debt (with the home as collateral)
  • Checking whether pulling cash still makes sense when the new rate is higher than your current one

Limitations & assumptions

  • Models the conventional 80% LTV cap — VA cash-out allows up to 100% and some lenders differ.
  • Assumes closing costs roll into the loan; paying them in cash lowers the balance and payment slightly.
  • Taxes, insurance, and PMI are not included — this is the principal-and-interest comparison.
  • Cash-out rates usually run 0.125–0.5% above regular refinance rates; enter a realistic quote.

Frequently asked questions

Conventional loans cap the NEW loan at 80% of home value. On a $400,000 home with $250,000 owed, that's $70,000 of headroom ($400,000 × 80% − $250,000) — about $60,700 of cash in hand if you roll 3% closing costs into the loan, or the full $70,000 if you pay costs out of pocket. VA cash-out refinances can go to 100% LTV for eligible borrowers.

Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.