Cash-Out Refinance Calculator
Enter your home value, current balance, and how much cash you want out. Every field recalculates instantly, and the full amortization schedule below updates with it — loaded with realistic defaults from the moment the page opens.
What this means
Your new loan pays off the $220,000 you currently owe, hands you $50,000 in cash after rolling closing costs into the balance, and resets your repayment clock to 30 years.
Results
| Total interest over 30 years | $368,447 |
| Total of all payments | $644,447 |
| Payoff month count | 360 mos |
Amortization schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $21,481.57 | $2,941.46 | $18,540.10 | $273,058.54 |
| Year 2 | $21,481.57 | $3,146.27 | $18,335.30 | $269,912.26 |
| Year 3 | $21,481.57 | $3,365.34 | $18,116.23 | $266,546.92 |
| Year 4 | $21,481.57 | $3,599.66 | $17,881.91 | $262,947.26 |
| Year 5 | $21,481.57 | $3,850.30 | $17,631.27 | $259,096.96 |
| Year 6 | $21,481.57 | $4,118.39 | $17,363.18 | $254,978.57 |
| Year 7 | $21,481.57 | $4,405.14 | $17,076.43 | $250,573.43 |
| Year 8 | $21,481.57 | $4,711.86 | $16,769.70 | $245,861.56 |
| Year 9 | $21,481.57 | $5,039.94 | $16,441.63 | $240,821.62 |
| Year 10 | $21,481.57 | $5,390.86 | $16,090.71 | $235,430.76 |
| Year 11 | $21,481.57 | $5,766.22 | $15,715.35 | $229,664.54 |
| Year 12 | $21,481.57 | $6,167.71 | $15,313.86 | $223,496.83 |
| Year 13 | $21,481.57 | $6,597.15 | $14,884.42 | $216,899.68 |
| Year 14 | $21,481.57 | $7,056.50 | $14,425.07 | $209,843.18 |
| Year 15 | $21,481.57 | $7,547.83 | $13,933.74 | $202,295.36 |
| Year 16 | $21,481.57 | $8,073.37 | $13,408.20 | $194,221.99 |
| Year 17 | $21,481.57 | $8,635.50 | $12,846.07 | $185,586.49 |
| Year 18 | $21,481.57 | $9,236.77 | $12,244.80 | $176,349.72 |
| Year 19 | $21,481.57 | $9,879.91 | $11,601.66 | $166,469.81 |
| Year 20 | $21,481.57 | $10,567.83 | $10,913.74 | $155,901.99 |
| Year 21 | $21,481.57 | $11,303.64 | $10,177.93 | $144,598.34 |
| Year 22 | $21,481.57 | $12,090.69 | $9,390.88 | $132,507.65 |
| Year 23 | $21,481.57 | $12,932.54 | $8,549.03 | $119,575.11 |
| Year 24 | $21,481.57 | $13,833.01 | $7,648.56 | $105,742.11 |
| Year 25 | $21,481.57 | $14,796.17 | $6,685.40 | $90,945.94 |
| Year 26 | $21,481.57 | $15,826.40 | $5,655.17 | $75,119.54 |
| Year 27 | $21,481.57 | $16,928.36 | $4,553.21 | $58,191.18 |
| Year 28 | $21,481.57 | $18,107.04 | $3,374.53 | $40,084.14 |
| Year 29 | $21,481.57 | $19,367.80 | $2,113.77 | $20,716.34 |
| Year 30 | $21,481.57 | $20,716.34 | $765.23 | $0.00 |
More cash-out refinance tools
Once you've got a shape for the new loan above, use these to stress-test it.
Loan Comparison
Put your current mortgage side-by-side with the new cash-out loan — payment, total interest, and lifetime cost.
Compare →Payoff Calculator
See how extra monthly payments shrink your new loan's term and interest after a cash-out refinance.
Plan payoff →Break-Even Calculator
Find out how many months it takes for savings or costs to offset your closing costs.
Find break-even →Loan-to-Value Calculator
Check how much equity you can tap before hitting typical 80–90% LTV lending limits.
Check LTV →Amortization Schedule
Generate a month-by-month or year-by-year schedule for any loan, with optional extra payments.
Build schedule →How a cash-out refinance works
1. Replace the loan
You pay off your existing mortgage with a new, larger one — usually at a different rate and term than your original loan.
2. Pocket the difference
The new loan covers your old balance plus the extra cash you're borrowing against your equity, minus closing costs.
3. Repay on the new terms
Your monthly payment and total interest reset based on the new balance, rate, and term — use the amortization tool above to see the full picture.
Frequently asked
How much cash can I take out?
Most lenders cap cash-out refinances at 80% loan-to-value for a primary residence, though some programs allow up to 90%. Use the LTV calculator to check your headroom before applying.
Does a cash-out refinance always raise my payment?
Not necessarily. If you're refinancing from a much higher rate, your payment could stay flat or even drop despite the larger balance. Run the comparison tool with your real numbers to see the net effect.
What closing costs should I expect?
Typically 2–5% of the new loan amount, covering appraisal, origination, title, and recording fees. The break-even calculator shows how long those costs take to offset.