Cash-Out Refinance Calculator

A cash-out refinance replaces your mortgage with a larger one and gives you the difference in cash. See the new payment and total interest.

Your details

Current mortgage balance$Cash to take out$New interest rate%New term

New monthly payment

$1,896.20

New loan amount: $300,000.00
Cash received: $50,000.00
Total interest: $382,633.47

Balance vs cash out

Existing balance: $250,000.0083%
Cash out: $50,000.0017%

New monthly payment$1,896.20

Formula

New loan = current balance + cash out, amortized at the new rate and term.

Sources & methodology

•CFPB — refinancing — CFPB

Last updated: 2026-07-20

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How to Finance Home Improvements: Loan vs HELOC vs Cash-OutCompare ways to pay for a renovation: personal home-improvement loan, HELOC, home-equity loan, and cash-out refinance — with the trade-offs of each.

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