Refinance Tool
Refinance Cash-Out Calculator
Find out how much equity you can access from your home and what the new monthly payment looks like.
Your Home & Mortgage
$
$
New Mortgage Terms
5.19%
0.50%10.00%
Illustrative default rate. Use the rate you were actually offered, or see today's rates.
25 years
5 years30 years
80%
65%80%
A refinance is capped at 80% LTV — insured (CMHC) refinancing isn't available, except the federal secondary-suite program (up to 90% of the as-improved value, for adding a rental suite).
Available Cash-Out
$440,000
at 80% LTV · you can access this much
Home Value$900,000
Max Loan (80% LTV)$720,000
Current Balance$280,000
Cash Available$440,000
New Monthly Payment
$4,266
vs $1,659 on current balance (same rate & amortization)
LTV After Refinance
80.0%
$180,000 equity left
Payment Increase+$2,607/mo
Estimate only. Excludes any prepayment penalty on your current mortgage, legal and appraisal fees, and lender approval (income and credit still apply; you must qualify at the stress-test rate).
Start Refinance Application