Homeowner tools
Your cash is the home's value times the program's loan-to-value limit, minus what you owe on the home today. Most primary-home programs go up to around 80 percent of the value, so a home with solid equity usually has real cash available. Enter your numbers below for an estimate before closing costs.
The maximum new loan is your home's value times the loan-to-value limit. Your estimated cash is that maximum loan, minus your first mortgage balance, minus any other liens. Closing costs come out of the proceeds, so the cash you actually receive will be a bit lower. The limit that applies depends on the program, your credit and the appraisal, and you can always take less than the maximum.
Read how much cash you can take out, see how a cash-out refinance can pay off credit cards, compare it with a second mortgage, HELOC or HEI, or learn more about working with me as your mortgage broker.
For illustrative purposes only. This calculator provides estimates based on the figures you enter and does not include closing costs, fees, or other amounts that reduce your proceeds. It is not a commitment to lend, an offer to extend credit, a pre-qualification, or a guarantee of any loan amount or program limit. Actual qualification depends on credit, property, appraisal, loan program, and market conditions, and not all applicants will qualify. Consult Daniel for a quote specific to your scenario. Equal Housing Opportunity.
