Home / Calculators / Cash-out refinance calculator
Cash-out refinance calculator.
Estimate refinance proceeds after debt payoff and closing costs, limited by property value and rental income.
Your deal, in focus
See how the numbers move.
Adjust the assumptions to explore your deal. Your estimate updates as you go.
Uses the lower of the LTV limit and the loan supported by gross rent divided by PITIA at your DSCR target. Closing costs equal the percentage of the new loan plus additional fixed costs; do not count costs twice. Use a current payoff including accrued interest and any exit fees. Seasoning, reserves, appraisal and cash-out limits are not modeled.
Use nonnegative figures. Financing shares and rental expense allowances cannot exceed 100%. Loan limits depend on the value or cost basis shown beside each field.
Assumptions behind this estimate
Uses the lower of the LTV limit and the loan supported by gross rent divided by PITIA at your DSCR target. Closing costs equal the percentage of the new loan plus additional fixed costs; do not count costs twice. Use a current payoff including accrued interest and any exit fees. Seasoning, reserves, appraisal and cash-out limits are not modeled.
Estimated cash to you
Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting.
Cash to you is after the entered debt payoff and closing costs. Seasoning, cash-out limits, reserves, appraisal, and program requirements can reduce available proceeds.
LOOK A LITTLE CLOSER
Make the numbers work for you.
Compare alternatives, check the downside, and pick up where you left off.
What drives this result?
The modeled loan is limited by property value. A higher requested advance cannot override the selected value or cost ceiling. This is a planning limit, not a lending decision.
Compare scenarios and stress-test
Keep a baseline, then change the calculator inputs above to compare a different price, budget, or LTV. Stress tests are previews until you choose to use them.
Save and revisit a deal
Saved only in this browser on this device. No account or submission is created. Clearing browser data removes these deals. Use a short nickname without personal or confidential information.
No saved deals for this calculator yet.
Get terms on this deal
Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting.
This sends the numbers above straight to me for a person to underwrite. You get an initial written response in 24 to 48 hours, and a straight answer either way. Terms, if offered, are subject to underwriting and approval.
How to read it
What the number means.
Enter the current property value, desired maximum LTV, qualifying rent, and required DSCR. The new loan is the lower of the value-based limit and the amount supported by rental income at the entered rate and term.
The calculator subtracts your existing loan payoff and refinance costs from the new loan. A shortfall is shown as cash required, not cash received. Use a payoff that includes accrued interest and exit fees, and avoid counting the same closing charge in both the percentage and fixed-cost fields.
Questions
Understanding your results.
Can I send these numbers for review?
Yes. Use the application button to carry your assumptions and estimate into a deal submission, or request a PDF. All results are planning estimates subject to underwriting.
Why is the new loan below my selected LTV?
Rental income may support a smaller loan once taxes, insurance, and HOA are included in the payment.
Are these guaranteed cash-out proceeds?
No. Appraisal, seasoning, cash-out limits, credit, reserves, and other program requirements can reduce or prevent the refinance.
What if the new loan cannot cover my payoff?
The calculator shows the cash you would need to contribute to pay off the existing debt and cover closing costs.
Method
Where these numbers come from.
BRRRR seasoning: how long before you can refinance at the new value
Seasoning is the rule that decides whether you get your capital back in month four or month twelve. Confirm it before you buy, not after the rehab is done.
DSCR loan requirements: how the ratio works and what it has to hit
A DSCR loan qualifies the property, not you. Here is how the ratio is calculated, the number it needs to clear, and how to fix a file that misses.
Other tools
The rest of them.
Maximum offer calculator, Rental cash-flow calculator, Hard money loan calculator, Fix and flip calculator, ARV calculator, BRRRR calculator, DSCR calculator, Rehab cost calculator, Construction loan calculator, Rental portfolio calculator, Transactional funding calculator.
This is an estimating tool. It runs arithmetic on the figures you enter using the assumptions stated above, and changing an assumption changes the answer. The result is not a quote, an approval, an appraisal, a valuation, or a prediction of what a property will sell for, and it does not commit anyone to lend. Costs, taxes and market conditions vary by location and change over time. Check the numbers that matter against your own contractor, agent and professional advisers before you commit to a deal.
When the numbers work
Get it underwritten.
A calculator cannot see your property. Estimate only, based on the figures you entered. Not a quote, an approval, an appraisal or a commitment to lend, and subject to underwriting. Send the deal and a person reads it: you get an initial written response in 24 to 48 hours, and a straight answer either way. Terms, if offered, are subject to underwriting and approval. No credit pull to get an answer.