How much cash can I take out with a conventional cash-out refinance?

Conventional cash-out is generally limited to 80% loan-to-value on a primary residence, lower for investment and multi-unit properties, per the Fannie Mae and Freddie Mac LTV matrices. Your cash back is the new loan amount minus your current balance and closing costs.

Does a cash-out refinance replace my current mortgage?

Yes. A cash-out refinance pays off your existing first mortgage and replaces it with a larger loan, returning the difference to you in cash at closing.

What income do I need to qualify?

As a rule of thumb, your total monthly housing expense plus HOA should be roughly half your gross monthly income. Fannie Mae allows up to 50% DTI; Freddie Mac up to 45% with strong credit and reserves.

ITIN · Cash-Out Refinance

ITIN Cash-Out Refinance Calculator

Estimate your maximum cash back, new loan amount, monthly payment, and the income you'd need to qualify for a conventional cash-out refinance.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

What type of home is this?

Estimated Current Home Value

Current Loan Balance

Desired Cash Back

Monthly Property Taxes

Monthly Homeowners Insurance

Monthly HOA

Estimated New Interest Rate 5.99%

Are you thinking about buying another home with your cash out to continue your wealth journey?

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Summary

Maximum Estimated Cash Back $88,000 Includes 3% estimated closing costs and varies state to state. This is NOT a Loan Estimate. Always obtain an official Loan Estimate from a Licensed Mortgage Originator before making any decisions.

Maximum Loan Amount (property type)$400,000Per the Fannie Mae / Freddie Mac LTV matrix and conventional conforming loan limits.

Desired Loan Amount$400,000

Estimated Cash Back$109,000Includes 3% estimated closing costs and varies state to state. This is NOT a Loan Estimate.

Payment Breakdown

Principal & Interest Payment$2,395.63

Monthly Tax$500

Monthly Insurance$200

HOA Paid Separately$0

Total Monthly Housing Expense$3,095.63Tax and insurance escrows can be waived.

Monthly Income Target to Qualify$6,191.26Fannie Mae allows up to 50% DTI; Freddie Mac up to 45% with strong credit and reserves.

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Estimates only — not a commitment to lend.

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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