Cash-Out Refinance CalculatorFree · private · not a loan offer

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Cash-out refinance calculator

Most lenders let you borrow up to 80% of your home's value on a conventional or FHA cash-out refinance (VA can go higher). Your cash is that amount minus what you owe and the closing costs. Enter your numbers to see the cash, the new payment and what it costs you over time.

Your home and current loan

$
A recent estimate; the lender's appraisal decides
$
Include any home equity loan or HELOC being paid off
$

The new loan

$
Leave blank to see the maximum
%
Use a quote; cash-out rates are often a little higher than regular refinance rates
% of loan
Often 2–5%
Cash to you
–
New monthly payment
–
New loan amount
–
Loan-to-value
–
Closing costs
–
Payment change
–
Total interest, new loan
–
Equity left in the home
–

Is it worth it?

Compare against the alternatives: a home equity loan or HELOC keeps your current mortgage rate, which can be cheaper if that rate is low. A cash-out refinance replaces the whole mortgage at the new rate.

How the cash-out amount is worked out

StepExample
Home value × maximum loan-to-value$400,000 × 80% = $320,000 maximum new loan
Minus what you owe$320,000 − $200,000 = $120,000
Minus closing costs (3% of the new loan)$120,000 − $9,600 = $110,400 cash

Maximum loan-to-value by loan type

Loan typeTypical maximum for cash-out
Conventional, main home, 1 unit80%
Conventional, main home 2–4 units, or second home75%
Conventional, investment property70–75%
FHA (main home only)80%
VA (eligible veterans and service members)Up to 100%; many lenders cap at 90%
USDANo cash-out refinance

Limits come from the Fannie Mae and Freddie Mac guides, HUD's FHA handbook and the VA lender handbook. Individual lenders can set lower limits, and credit score, debt-to-income ratio and waiting periods (usually 6–12 months) also apply. Fannie Mae Selling Guide.

Questions

How much cash can I take out in a cash-out refinance?

Usually up to 80% of your home's value for a conventional or FHA loan on your main home, minus what you still owe and the closing costs. VA loans can allow up to 100% for eligible borrowers, though many lenders cap them lower.

What are typical closing costs on a cash-out refinance?

Commonly about 2% to 5% of the new loan amount, covering the appraisal, title, lender and recording fees. Ask lenders for a Loan Estimate to compare.

Is there a waiting period before a cash-out refinance?

Yes. Each loan type has seasoning rules, typically 6 to 12 months of ownership or payments on the current mortgage. Your lender will confirm the rule for your loan.

Does a cash-out refinance restart my loan term?

Yes. The new loan starts a new term. If you had 24 years left and take a new 30-year loan, you'll pay for 6 more years unless you choose a shorter term or pay extra.

Estimates only; this is not a loan offer or financial advice. Your home secures the loan, so borrowing against it puts it at risk if you can't repay. Last reviewed 27 September 2026.