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Cash Out Refinance Calculator

Take the guesswork out of how much cash you might get from your home’s equity with our cash out refinance calculator. Your equity could help you consolidate high-interest debt, pay for important expenses, make home repairs, and achieve your goals.

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How Much Cash Can You Get?

The amount of cash you might get from a cash out refinance depends on the value of your home’s equity and the loan-to-value ratio of your refinance. Change the default values to personalize your estimate!

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The estimated cash-out amount result was calculated by subtracting the outstanding principal balance of your loan from 80% of your property’s estimated value and assumes closing costs will be paid in cash. Your actual cash-out amount may be less. It will be calculated by taking 80% of your property’s actual value (as determined by a full appraisal) and subtracting all outstanding liens and any applicable costs from that value.

Cash Out Refinance Calculator Results:
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Get Cash from Your Home's Equity

Ask our experienced loan advisors how much cash you might qualify to get from your home's equity. Fill out our easy online form to get started.

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What Is Cash Out Refinancing?

A cash out refinance helps you convert your home's equity into cash by replacing your current mortgage with a new, bigger loan. You can use the cash to make home improvements, pay for education, pay down debts, or spend any way you like.

How to Use Our Cash Out Refinance Calculator

Our cash out refinance calculator asks you to enter your home's current value and the amount you owe on your existing mortgage to estimate how much cash you might get by refinancing.

Our calculator uses an 80% loan-to-value ratio (LTV) to determine the maximum amount of cash you could borrow from your home's value.

To get the LTV on your current mortgage, divide the amount you owe on your mortgage by the current value of your home. See this example:

Home Value $270,000
Current mortgage balance $125,000
(Calculation) $125,000 ÷ $275,000 = 0.45`
Loan-to-value ratio 45%

Because you have an LTV of 45%, you have a good amount of home equity you could tap to get cash. Here's how much you might get using the example above.

Home Value $275,000
Current mortgage balance $125,000
Other home loan balance $0`
Sample maximum LTV 0.8 or 80%
Maximum new mortgage balance $220,000 ($275,000 x 0.8)
Maximum cash available $95,000 ($220,000 - $125,000)

With Freedom Mortgage's easy-to-use cash out refinance calculator, we can email you the results right away. This gives you information on what a cash out refinance could look like before you apply.

How Our Cash Out Refinance Calculator Can Help You

A cash out refinance calculator can help you determine how much home equity you can access for cash when you need it. Estimating your tappable equity helps you make more informed financial decisions.

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