Cash-out refinance calculator for rental property
Estimate how much cash a refinance could free up from a property’s equity, and what the new loan payment would be.
Cash-Out Refinance
Updates as you type
the appraisal sets the ceiling
How this is calculated. In plain words.
- 1
The new loan is the appraised value times the maximum loan to value (LTV).
- 2
Closing costs are the percentage you enter times the new loan.
- 3
Cash out is the new loan minus the current balance and closing costs.
- 4
The new payment uses the standard amortizing formula; equity left is the value minus the new loan.
Lenders often allow a lower LTV on investment property than on a home you live in, and may require months of ownership first. This calculator gives an estimate for planning only. It is not financial, tax or legal advice.
Before you tap the equity.
How much can I take out?
Roughly the appraised value times the lender’s maximum loan to value, minus what you owe and the closing costs. Investment property limits are often lower than for a home you live in.
Is cash from a refinance taxable income?
Generally no, because it is borrowed money, not income. The new interest may be deductible depending on how the cash is used. Ask a tax professional.
What should I compare besides cash out?
The new payment and the new rate. A cash-out refinance can raise the monthly payment a lot, so check that the property still covers its costs at the new number. The DSCR calculator helps.
Is the result advice?
No. It is an estimate for planning, using only the numbers you type. Nothing is saved or sent anywhere; the calculation runs in your browser.
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