Cash-out refinance
Replaces the current first mortgage.
Los Angeles Mortgage Lender / Equity comparison
Compare cash-out refinancing with a second mortgage
See how replacing your first mortgage may compare with keeping it and adding a separate fixed-rate second loan. Results are illustrative—not an approval, quote, or recommendation.
Keep first mortgage + second
Keeps the current first mortgage and adds a fixed-rate second loan.
How to read this: Monthly payment is principal and interest only. “Financing cost over horizon” includes estimated interest and all entered closing costs, whether paid upfront or financed. Financed costs increase the loan balance; their interest is included. Principal repayment is shown separately because it reduces your balance. A lower payment can still cost more over time. Compare actual quotes, taxes, insurance, mortgage insurance, prepayment terms, and how long you keep each loan.
HELOC note: A home equity line can have a variable rate, draw period, changing balance, and later repayment period, so it is not modeled as a fixed-rate second mortgage here. Ask for a separate HELOC comparison if that product is available.
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General educational estimates only. No rates shown are available offers. Taxes, insurance, mortgage insurance, escrow adjustments and some fees are excluded. Rates, terms and eligibility vary.