Keep your low first-mortgage rate and model a standalone second lien for cash — blended rate, CLTV eligibility, and an honest side-by-side against a full cash-out refinance. Free, instant, no credit pull.
Instead of replacing your whole mortgage with a cash-out refinance, you keep your existing first mortgage — and its rate — exactly as it is, and add a separate second lien (a fixed closed-end second or a HELOC) for the cash you need. Your first mortgage payment doesn't change; the second has its own payment.
A consolidation refinance replaces your first mortgage with a new, larger one. This approach leaves your first mortgage untouched — which matters most when your existing rate is far below today's market. The calculator shows both paths side by side on the numbers you enter, because neither one always wins.
Rates you've actually been quoted, or realistic ones you want to test. This calculator never suggests or pre-fills a rate or term — every figure in the result comes from what you enter, and the result is an estimate, not an offer.