HELOC vs cash-out calculator

Two ways to pull the same cash: keep the mortgage you have and add a second lien, or replace the whole first lien. Read the HELOC vs cash-out guide first. Quotes, not a loan estimate.

Home value Current mortgage balance Current rate % Years left on current loan Cash you need Use of funds

HELOC / HELOAN rate % HELOC payment Cash-out new rate % Cash-out new term (years) Cash-out closing costs HELOC closing costs Roll cash-out costs into the new loan Years you will keep this setup

Cheaper path over the hold window

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2026 acquisition-debt cap $750,000 ($375,000 MFS). HELOC interest is deductible only if proceeds improve this house and you itemize. CLTV flags at 80%. State tax, points, prepayment penalties, and lender overlays are out of scope. Paid sequence: HELOC playbook. Rate-and-term only: refi break-even.