Your Property & Current Loan
New Loan Terms
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Equity Remaining
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Enter your home value, current loan balance, and desired cash amount — instantly see how much equity you can access, your new monthly payment, and remaining equity. Updated for 2025.aining equity, and LTV ratio.
All calculations run locally in your browser. No personal data is transmitted.
A cash-out refinance is one of the most flexible financial tools available to homeowners — and one of the most frequently misused. It works by replacing your existing mortgage with a larger loan, using the difference between the two to put cash in your pocket. The eligibility ceiling for most conventional loans is 80% LTV, meaning you must retain at least 20% equity after the cash-out.
Say your home is worth $420,000 and you owe $230,000 on your current mortgage — giving you $190,000 in equity. The 80% LTV ceiling on your home value caps your new loan at $336,000. After paying off your current $230,000 balance, you can receive up to $106,000 in cash (before closing costs). If you take $70,000 at a new rate of 6.75% on a 30-year term, your new payment is approximately $1,817/month. That's likely higher than your current payment, so confirm the extra cost fits your budget.
Home renovation or improvement projects are the most financially sound use — they can increase the home's value and the interest may be tax-deductible. Debt consolidation is another common use: rolling credit card balances at 20%+ APR into a 6–7% mortgage rate generates immediate savings, though it converts unsecured debt to secured debt backed by your home. Avoid cash-out refinances to fund lifestyle expenses or depreciating purchases. For a straight rate-and-term scenario without equity withdrawal, our mortgage refinance calculator is the better starting point.
Conventional loans cap cash-out at 80% LTV. FHA cash-out refinances also allow up to 80% LTV. VA loans permit cash-out up to 100% LTV for eligible veterans — our VA refinance calculator covers that scenario. Jumbo loans may have tighter restrictions (70–75% LTV). Always verify current LTV limits with your lender, as guidelines shift with market conditions.