Refinance Cash Out Calculator

Work out refinance cash out instantly with clear inputs, formula shown and shareable results.

About Refinance Cash Out Calculator

A cash-out refinance replaces the existing loan with a larger one and releases the difference, less closing costs. The new loan is capped by the lender's loan to value limit on current value, so the cash available depends on how much the property has appreciated and how much principal has been repaid.

Formula

Cash out

Net cash = value x new LTV - existing balance - closing costs

Worked example

With the default values below, Refinance Cash Out Calculator returns Net cash released of $3,290,000.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Current property valueminimum 0.01: 15,000,000
New loan to valueaccepts 1–95 %: 70 %
Existing loan balanceminimum 0: 7,000,000
Closing costsaccepts 0–10 %: 2 %

Results

Net cash released: $3,290,000.00
New loan amount: $10,500,000.00
Closing costs: $210,000.00
Existing loan repaid: $7,000,000.00

Step by step

1Values used
2Cash out
3Net cash released= 3,290,000.00
4New loan amount= 10,500,000.00
5Closing costs= 210,000.00
6Existing loan repaid= 7,000,000.00

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

How is the Refinance Cash Out figure worked out?

Net cash = value x new LTV - existing balance - closing costs. A cash-out refinance replaces the existing loan with a larger one and releases the difference, less closing costs.

Is refinancing to release equity tax efficient?

Loan proceeds are not income, so no tax arises on the release itself. Whether the interest is deductible depends on how the money is used, which varies by jurisdiction.

What values do I need to enter?

This calculator takes 4 inputs: Current property value, New loan to value, Existing loan balance, Closing costs. The pre-filled defaults are a realistic worked example — replace them with your own site or project figures.