Loan Resources

Which is better, cash-out refinancing or a home equity loan?

If you need access to cash from your home's equity, use this calculator to compare the benefits of cash-out refinancing to those of a home equity loan.

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This monthly mortgage payment amount does not include taxes or insurance. It assumes the cost of a mortgage point is equal to one percent of the loan value. For the cash-out refinancing option, the calculator assumes points and closing costs are paid upfront and not rolled into the value of the loan.

GetSmart calculators are for informational purposes only. GetSmart does not guarantee the accuracy of the calculators, or that you will receive the input rates. Consult a financial advisor for details specific to your situation.