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Access your home equity with a cash-out refinance. Understand what a cash-out refinance is, how to use your extra funds, and if it is the best option for you.
Refinance your existing mortgage to lower your monthly payments, pay off your loan sooner, or access cash for a large purchase. Use our home value estimator to estimate the current value of your home. See our current refinance rates and compare refinance options. Affordability.
With a cash-out refinance, the purpose is to make cash available with a new mortgage. You take out more than you owe on your current mortgage, and the balance is dispersed to you to use as you need. How to use a cash-out refinance
Use this cash-out refinance calculator to estimate how much you can borrow as well as what your monthly payments and overall cost will look like.
A note about this tool: Some of the fields are pre-filled to get you started. Move the sliders or enter a number to change the amounts. The calculator results will automatically update as you move the sliders or leave a text field. Loan info.
A cash-out refinance is the process of replacing your current mortgage with a new, larger mortgage for the remaining balance of the original loan plus cash from your home’s equity. You’ll...
A cash-out refi often has a lower rate than a home equity loan, but make sure the rate is lower than your current mortgage rate. Calculate whether a cash-out refi is right for you.