MortgageHub

Cash-Out Refinance Calculator

Access your home equity while refinancing to a better rate

Cash-Out Refinance Details

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💰 You'll Receive Cash

$50,000

Access your home equity for renovations, debt consolidation, or investments

New Loan Amount

$408,000

Loan-to-Value

68.0%

✓ Good

Remaining Equity

$192,000

Payment Change

+$38

per month

💡 Interest Analysis

Current Loan Interest (Remaining)

$392,118.157

Over 25 years

New Loan Interest (Full Term)

$496,365.424

Over 30 years

Interest Difference

+$104,247.267

More interest paid

Monthly Payment Comparison

Loan Amount Comparison

💰 Equity Impact

Current Equity

$250,000
Available Home Equity

After Cash-Out

$192,000
Remaining Home Equity

Transaction Breakdown

💵 Cash You Receive
+$50,000
Tax-free equity withdrawal
📋 Closing Costs
-$8,000
Refinance fees
📊 Net Equity Change
-$58,000
Total equity reduction

Current Loan

Monthly Payment$2474
Interest Rate7.000%
Years Remaining25 years
Remaining Interest$392118

Cash-Out Refinance

Monthly Payment$2512
Interest Rate6.250%
New Loan Term30 years
Total Interest$496365
Cash Received+$50,000

Educational Purpose Only

⚖️ Disclaimer: This calculator is provided for educational and informational purposes only. It does not constitute financial, legal, or professional advice. All calculations are estimates based on the information you provide and should not be considered as guaranteed loan terms or cash-out amounts.

💼 Consult Professionals: Always consult with a licensed mortgage broker, financial advisor, or lending professional before making any cash-out refinance decisions. Actual rates, closing costs, equity requirements, and cash-out limits may vary based on your credit score, property value, loan-to-value ratio, and lender requirements.

📊 No Guarantees: MortgageHub does not guarantee the accuracy of calculations and is not responsible for any decisions made based on this tool. All rates, terms, and cash-out amounts shown are examples only.