Cash-Out Refinance Calculator
See how much equity you can access and how consolidating high-interest debt into your mortgage could save you hundreds per month. Compare the true cost of credit card debt vs. mortgage rates.
Debt Consolidation Savings
$6,200 /year
vs. carrying $40,000 at 22% on credit cards
Monthly Payment Comparison
What Homeowners Use Cash-Out Refinancing For
Debt consolidation
Replace 20%+ credit card interest with a 6-7% mortgage rate. On $40,000 in credit card debt, that's roughly $5,000-6,000 in annual interest savings. Your monthly cash flow improves immediately because mortgage payments are spread over 15-30 years.
Home improvements
Kitchen remodels, additions, and energy upgrades can increase your home's value while you enjoy the improvements. Financing through a cash-out refinance often beats personal loans or HELOCs on rate — and the interest may be tax-deductible for home improvements.
Education or major expenses
Fund college tuition or other major life expenses at mortgage rates instead of private student loan rates (8-12%). The rate difference can save tens of thousands over the repayment period.
Emergency reserves
Build a financial safety net at low cost. Cash-out refinancing gives you a lump sum at mortgage rates — far cheaper than relying on credit cards in an emergency.
How Much Equity Can You Access?
Conventional lenders typically allow cash-out up to 80% of your home's value (loan-to-value ratio). So on a $450,000 home with a $280,000 balance, you could access up to $80,000.
VA borrowers have a major advantage — VA cash-out refinances allow up to 90-100% LTV, meaning eligible veterans can access significantly more equity than conventional borrowers. On the same home, a veteran could access up to $125,000.
See How Much Equity You Can Access
Apply in under 2 minutes to get a personalized cash-out refinance quote from our lender network.