Calculate cash-out vs rate/term refi for real estate investments and properties
Compare cash-out refinance (higher rate, receive cash) vs rate-and-term refi (lower rate, no cash). Enter both scenarios to compare.
Cash-out: $400K loan at 6.5%, receive $75K cash. Rate-term: $325K at 5.75%, no cash. Calculator shows which makes financial sense.
Refinancing for more than you owe, taking difference in cash. Useful for renovations or investments, but increases loan balance and rate may be higher.
Refinancing to lower rate or change term without taking cash out. Typically gets better rates than cash-out refinances.
Rate-term if goal is lower payments. Cash-out if you need funds and can earn more than the rate difference or consolidate higher-interest debt.