Run the Numbers
See the real cost of a second lien cash out vs. a first lien cash out refinance, side by side.
Financing Comparison
Second Lien Cash Out or First Lien Cash Out?
Model the real cost of tapping your home equity two ways: opening a second lien behind your current mortgage, or refinancing your first mortgage into a larger loan. Adjust the numbers to match your situation.
Your Numbers
First Lien Cash Out Refi
Second Lien Cash Out Refi
Lower CostOver 10 years, Second Lien Cash Out Refi costs about $98,750 less in total interest and fees. Monthly payments favor Second Lien Cash Out Refi by about $68/mo.
Cumulative cost over time
This is an educational estimator, not an offer of credit. The figures shown are hypothetical, calculated only from the numbers you enter or leave at their defaults - they are not a rate quote, loan offer, pre-qualification, or commitment to lend, and do not represent terms currently available to you.
Interest rates in this tool are user-adjustable and shown for illustration only. Default values are pre-filled for convenience and reflect general market reference points - they are not rates advertised, offered, or guaranteed, and your actual rate will depend on your credit profile, property, loan amount, state, and underwriting at the time of application. Rates change frequently and may differ significantly from what's shown here.
This estimator does not include taxes, insurance, PMI, escrow, prepayment penalties, title fees, or all costs that may apply to an actual loan, and results may not reflect the Annual Percentage Rate (APR) required to be disclosed under Truth in Lending Act / Regulation Z once a specific loan is quoted. Second lien loans are secured by your home - failure to repay could result in loss of the property.
Contact us directly for a real quote based on your actual credit and property - nothing on this page should be relied on as final loan terms.
Loans are originated through Town Lake Lending, NMLS #2484417, 7000 N. MoPac Expy, Suite 200, Austin, TX 78731. Todd Kurio, Loan Originator, NMLS #216616. Equal Housing Lender.
Ready to explore your home equity options?
See how much cash you could access →
Ready to explore your home equity options?
See how much cash you could access →