Cash-Out Refinance Calculator
Cash out = (new loan − old loan payoff) − closing costs.
Result
Cash out (after closing)
$69,000
New loan: $225,000. New payment: $1,573/mo.
- Property value$300,000
- Old loan balance$150,000
- New LTV75%
- New loan amount$225,000
- Closing costs$6,000
- Cash out (gross)$75,000
- Cash out (net)$69,000
- New monthly payment$1,573
Step-by-step
- New loan = value × LTV = 300000 × 0.75 = $225,000.
- Cash out = new loan − old payoff − closing = 225,000 − 150000 − 6000 = $69,000.
- New payment = $1,573/mo.
How to use this calculator
- Enter current value (appraised).
- Old loan balance.
- New LTV (75% standard for investment).
- Closing cost estimate.
About this calculator
Cash-out refinance: replace existing loan with a new bigger one, take the difference as cash. Investors use it to pull equity out for the next deal (BRRRR's "Refi" step). Conventional cash-out: max 75-80% LTV on investment property; 80% on primary. Closing costs run 2-5% of new loan. Often makes sense when property has appreciated significantly or rates have dropped. Note: extends loan amortization (resetting clock) and increases monthly payment if not careful.
Frequently asked
Conventional cash-out: 75% investment, 80% primary residence. Some portfolio lenders go to 85% on owner-occ.
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