कैश-आउट पुनर्वित्त कैलकुलेटर — सूत्र

## Cash-Out Refinance Overview

A cash-out refinance replaces your existing mortgage with a new, larger loan. The difference between the new loan and your old balance is paid to you as cash.

### How It Works

1. New Loan Amount = Current Balance + Cash-Out + Closing Costs
2. You receive the cash-out amount at closing
3. Your payment is recalculated on the new, larger balance

### When It Makes Sense

- Consolidating high-interest debt
- Funding home improvements that increase value
- Investing in additional property
- When the new rate is similar to or lower than your current rate

### Risks

- Increases your total debt and LTV
- Resets your amortization clock
- Closing costs reduce the effective cash received

हल किया गया उदाहरण

A $500,000 home with $300,000 balance at 6.5% (25 years remaining). Cash out $50,000 with a new 30-year loan at 7% with $6,000 closing costs.

  1. New loan amount: $300,000 + $50,000 + $6,000 = $356,000
  2. New LTV: $356,000 / $500,000 = 71.2%
  3. Current payment: $300,000 over 25 years at 6.5% = $2,028.28/month
  4. New payment: $356,000 over 30 years at 7% = $2,368.44/month
  5. Payment increase: $2,368.44 - $2,028.28 = $340.16/month
  6. You receive $50,000 cash at closing