Refinance
Taking money out, not just lowering your rate
Equity built does not mean equity available to borrow — what you can access depends on the property, existing liens, credit, program limits, and the lender's own maximum loan-to-value ratio. A cash-out refinance, a home equity loan, and a HELOC all get you the same cash differently. See how your own numbers compare below.
Cash-out and equity calculator
Your current mortgage & borrowing assumptions
Market-rate assumptionFreddie Mac 30-yr fixed average · week of Sep 24, 2026
Rates, fees and borrowing ceilings are illustrative. Fees are paid separately upfront, so each option delivers the same cash amount. No other liens are assumed. The HELOC is fully drawn at closing, with interest-only payments during the draw period and no further draws.
Enter your current rate above to see how these compare.
What this comparison assumes
The cash-out refinance replaces the current balance and adds the requested cash. The home equity loan and HELOC preserve the existing mortgage and add a second debt. All assume fixed home value. Fees reduce available cash savings, but are not financed and therefore do not reduce the equity shown. "Equity remaining" is home value minus total debt, not money available to withdraw.
The existing mortgage and fixed loans are modeled as fully amortizing. HELOC interest-only payments do not reduce its balance; the initial draw must still be repaid. The repayment estimate amortizes the full draw over the repayment period. The existing mortgage payment is included only while that mortgage is still outstanding. This is not a total-cost ranking. Future rates, annual HELOC fees, early-closure fees, extra payments and tax effects are not modeled.
Educational estimate. Not an offer, rate, or approval. These loans use your home as collateral.
Three different things, often confused
"Balance" isn't one number here — a HELOC leaves your original mortgage untouched but adds a second loan on top of it, so your total debt against the home still moves even though the first number doesn't.
| Product | Primary mortgage balance | Second lien | Equity remaining | Cash to you | Rate & term on primary mortgage |
|---|---|---|---|---|---|
| Rate-and-term refinance | Unchanged | None | Unchanged | $0 | Resetsnew rate and/or term, same loan |
| Cash-out refinance | Increasesby the amount you take out | Noneone loan, replaced | Decreases | Lump sumat closing | Resetssame as any refinance |
| HELOC or home equity loan | Unchanged | Newadded on top of the first | Decreases | Lump sum, or drawsas needed (HELOC) | Untouchedsecond loan carries its own |
Rate-and-term refinance
Cash-out refinance
HELOC or home equity loan
See also
What this estimate doesn't include
Closing costs apply just like any refinance and aren't included above. You're also using your home as collateral for whatever the cash is spent on. We'll walk through the right structure for your goal together before you apply.
Educational estimate. Not an offer, rate, or approval. Assumes fixed-rate loans for a primary residence; your actual terms depend on credit, property, and program. Kinship Mortgage is a licensed broker. See calculator methodology.