$
%
years
$
$
%
$
%
HELOC or personal loan rate
Getting $50,000 costs you this rate over 30 years
Current vs cash-out refi
4.5% • 25 years left
6.75% • 30 years
How much more will you pay?
Current Mortgage
$186,899
Cash-Out Refi
$451,214
Keep + Separate Loan
$216,190
This is the true cost of your $50,000 cash
Current: $1,556/month, $186,899 interest remaining
Cash-out refi: $2,192/month, get $50,000 cash, pay $451,214 total interest
Effective cost of cash: 17.62% over 30 years
Alternative: Keep current mortgage + separate 10% loan saves $243,024 total
You're trading a 4.5% mortgage for 6.75% - expensive way to get cash
Getting $50,000 via cash-out refi costs you an effective 17.62% rate and $264,315 in extra interest. Your payment increases by $636/month.
Here are the exact formulas behind your numbers. No black boxes — just math.
New Loan Amount
New Monthly Payment
Effective Cash-Out Rate
LoanKnow takes your numbers and helps lenders compete for your business — anonymously and for free. Your calculated data transfers seamlessly so you never re-enter information.
