Orlando Cash-Out Refinance Calculator
Estimate a refinance and compare taking cash out against a straight rate-and-term refi — your new monthly payment, cash to you, resulting loan-to-value, and break-even on closing costs. Educational estimate, never a quote. Pre-filled with Orlando's ~$390,000 median home value; edit any field to match your home.
How a cash-out refinance works
A cash-out refinance replaces your existing mortgage with a new, larger loan and gives you the difference in cash. On a primary residence, conventional and FHA cash-out are generally capped at 80% of your home's value (LTV); VA cash-out can go higher for eligible borrowers. The cash is often used to consolidate higher-interest debt, fund improvements, or cover a large expense — but it resets your loan and adds closing costs (typically 2%–5%).
A rate-and-term refinance takes no cash out — it just replaces your loan to lower the rate or change the term, so the calculator also shows your monthly savings and how many months it takes to break even on closing costs. If you'd rather borrow against equity without refinancing your first mortgage, see the HELOC vs. HELOAN calculator.
Common questions
How much cash can I take out?
Most primary-residence cash-out refinances cap the new loan at 80% of your home's value; VA cash-out can go higher for eligible veterans. Your available cash is that cap minus your current balance and closing costs. The calculator estimates this from your value and balance.
Cash-out or rate-and-term — which should I pick?
Choose cash-out if you need funds from your equity; choose rate-and-term if you only want a lower rate or a different term with no cash out. The calculator lets you switch between them and shows the payment, cash, LTV, and break-even for each.
Is this a quote?
No. It is an educational estimate using illustrative rates and standard LTV caps — not a quote, pre-qualification, or commitment to lend. HomeWise is an educational publisher, not a lender, broker, or servicer. Verify every figure with a licensed lender.
Understanding the Orlando Market
Orlando sits in Orange County, Florida. Neighborhoods such as Winter Park, Lake Eola Heights, College Park, Baldwin Park, and Thornton Park each carry their own mix of home ages, price tiers, and insurance considerations that are worth understanding before you set a budget in Orlando.
A buyer planning a budget in Orlando usually starts from the area's approximate median home value of about $390,000 (a rough market benchmark, not a quote). Orange County's effective property-tax rate runs near 0.95% of a home's value per year, which on a $390,000 home works out to roughly $3,705 a year, typically collected monthly through an escrow account. Florida's homestead exemption can lower that bill for a primary residence.
Homeowners insurance is the other big Florida variable: county-level estimates put a typical annual premium around $3,800 on a roughly $400,000 home in Orange County, with the figure swinging up or down based on roof age, wind-mitigation features, and flood-zone exposure. For context on what local incomes look like, the area median income for a four-person household in Orange County is about $85,500 per year, the benchmark many first-time-buyer and affordability programs use to set eligibility.
Taken together, the median price, Orange County tax rate, and insurance outlook are what shape a realistic monthly payment in Orlando — which is why the calculator above is pre-set with this county's numbers. Adjust the inputs to match your own situation, and confirm current figures with a licensed Florida lender of your choice before making any decisions.