HELOC vs Cash-Out Refinance Calculator
Compare taking cash via HELOC (interest-only) versus a cash-out refinance that replaces your first mortgage.
Results
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Assumptions
- HELOC path models interest-only on the cash needed only.
- Cash-out path refinances first-mortgage balance + cash needed (+ rolled fees).
- 5-year interest lens is illustrative, not a full amortization advice engine.
How it works
Compares HELOC IO on the draw amount with a new amortizing cash-out loan.
FAQ
Which is better?
It depends on rates, fees, how long you keep the debt, and whether replacing the first mortgage helps. This is only an estimate.
Is HELOC qualification guaranteed?
No. Lenders use credit, income docs, and appraisals beyond this estimate.
Is this advice?
No — educational estimates only.
Related calculators
Estimates only. See Disclaimer.