cash refinance calculator: a quick way to test home equity scenarios

What it does

A cash refinance calculator estimates how much equity you can turn into cash while reshaping your mortgage. Enter a few numbers and it projects a new payment, total interest, and potential savings or costs, so you can decide if tapping equity is worth it.

Key inputs

• Home value and current loan balance
• Estimated interest rate and term for the new loan
• Desired cash-out amount and closing costs
• Property taxes, insurance, and HOA if you want an all-in payment

How to interpret results

Compare your current payment and payoff date with the proposed loan. Watch loan-to-value; most lenders cap cash-out around 80% LTV. Calculate a rough breakeven by dividing total costs by monthly savings. If you’re extending the term, note the extra years of interest even if payment drops.

Practical tips

Run multiple scenarios, keep a cushion for surprises, and check your credit before locking an offer. A good calculator helps you ask smarter questions and avoid surprises at closing.