Plan with clarity
Estimate how much cash a refinance could leave after mortgage payoffs and closing costs. Adjust your home value, assumed LTV and new loan terms.
Starting values are examples, not current rates or lending terms.
No sign-up required. Calculations run in your browser. Saved scenarios last only while this page stays open.
Understand the numbers
Change an assumption above to see what moves the result. Save a scenario to compare it with your next calculation.
Put the estimate to work
The calculator multiplies your property value by your assumed LTV. It then subtracts the first mortgage payoff, other required payoffs and entered closing costs. The remainder is estimated net cash. A negative result means the scenario requires cash to close rather than producing cash for you.
A current principal balance can differ from a payoff quote because of accrued interest or other charges. Similarly, a property’s estimated market value may differ from the value accepted for lending. Sensitivity scenarios show how different LTV assumptions affect proceeds; they are not a list of available loan programs.
For FHA financing, review our FHA cash-out refinance guide before choosing an LTV assumption. This general calculator does not separately calculate FHA upfront or annual mortgage insurance.
The new payment applies to the whole refinanced loan, not only the cash received. Compare this with your current payment and with a potential HELOC or fixed second mortgage. Include property expenses in your budget, and consider closing costs, the new term and how long you expect to keep the financing.
Net cash = (estimated property value × assumed LTV) − first mortgage payoff − other required payoffs − closing costs.
A simple example. At a $800,000 value and a hypothetical 75% LTV, the new loan is $600,000. Subtracting a $400,000 payoff and $12,000 in costs leaves $188,000 before any other required payoffs.
Calculation model reviewed September 8, 2026. Examples are hypothetical.
Common questions
Use the estimate to prepare your questions, then review the property, documentation and financing terms with a mortgage broker.
Conventional mortgage options · Investment property financing
Schedule a consultationNo. It is an editable example. Actual maximum LTV varies with the loan program, occupancy, property and lender requirements.
Your modeled new loan may not cover the existing debt and costs. The negative amount represents estimated additional cash needed to complete that scenario.
No. The displayed new payment covers principal and interest only. Add taxes, insurance, association dues and any mortgage insurance to estimate the complete housing payment.
The arithmetic can model equity in a rental property, but available LTV, underwriting and transaction requirements may differ from an owner-occupied home. Confirm the appropriate program.
Need extra funds? Consider an FHA cash-out refinance for lower interest rates and access to home equity. Learn all about it in our detailed guide!
Read guide
Discover how to take advantage of the flexibility offered by bank statement cash out refinance for self-employed borrowers.
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