HELOC VS. CASH-OUT REFINANCE CALCULATOR
Compare Two Ways to Access Your Home Equity
Estimate available equity, monthly payments, interest expense, closing costs, cash received and five-year borrowing cost for a HELOC versus a cash-out refinance.
1. Current Home & Mortgage
2. Cash Needed
3. Compare Financing Options
HELOC OPTION
CASH-OUT REFINANCE OPTION
HELOC VS. CASH-OUT REFINANCE RESULTS
Side-by-Side Home Equity Financing Comparison
Current Home Equity
$0
Maximum HELOC Available
$0
Maximum Cash-Out Available
$0
Desired Cash
$0
Monthly Payment Comparison
| Payment Item | HELOC | Cash-Out Refinance |
|---|---|---|
| Existing / New First Mortgage Payment | $0 | $0 |
| HELOC Payment | $0 | — |
| Total Monthly Debt Payment | $0 | $0 |
| Monthly Change vs. Current Mortgage | $0 | $0 |
Loan & Equity Comparison
HELOC Balance Used
$0
Total Debt with HELOC
$0
New Cash-Out Refinance Loan
$0
HELOC Combined LTV
0%
Cash-Out Refinance LTV
0%
Upfront Cost Comparison
HELOC Closing Costs
$0
Cash-Out Refinance Closing Costs
$0
Net Cash Received – HELOC
$0
Net Cash Received – Refinance
$0
Five-Year Cost Comparison
Estimated 5-Year HELOC Cost
$0
Estimated 5-Year Refinance Cost
$0
Estimated 5-Year Difference
$0
Refinance Break-Even Period
—
Five-Year Balance Comparison
| After 5 Years | HELOC Strategy | Cash-Out Refinance |
|---|---|---|
| First Mortgage Balance | $0 | $0 |
| HELOC Balance | $0 | — |
| Total Debt Remaining | $0 | $0 |
| Estimated Remaining Equity | $0 | $0 |
Enter your assumptions to compare both options.
Important Financing Disclaimer:
This calculator is for educational and planning purposes only.
HELOC rates are often variable, so actual future payments and interest
costs can rise or fall. Cash-out refinance rates, closing costs,
loan-to-value limits and qualification standards also vary by lender,
credit profile, property type and occupancy.
This tool does not constitute a loan offer, prequalification,
financial advice or recommendation. Compare actual Loan Estimates,
HELOC disclosures and lender terms before making a borrowing decision.
