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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

Enter your actual payment. This stays fixed — it won't change when you adjust the sliders above.

First Lien Cash Out Refi

New loan amount$360,000
Monthly payment$2,335/mo
Closing costs$7,200
Interest paid, horizon$227,278
Total cost$234,478

Second Lien Cash Out Refi

Lower Cost
Existing mortgage payment$1,711/mo
Second lien payment$556/mo
Combined monthly payment$2,267/mo
Closing costs$600
Interest paid, horizon$135,128
Total cost$135,728

Over 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

First Lien Cash Out Refi Second Lien Cash Out Refi
$0k$59k$117k$176k$234kY0Y1Y2Y3Y4Y5Y6Y7Y8Y9Y10

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.

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Licensing & Disclosures

2ndLiens.com is a marketing brand and is not a lender. All loans are originated through Town Lake Lending, a licensed Texas mortgage company - NMLS #2484417 - 7000 N. MoPac Expy, Suite 200, Austin, TX 78731. Todd Kurio, Loan Originator, NMLS #216616.

Programs, rates, and terms are subject to change without notice and to credit approval. This is not a commitment to lend. All products may not be available in all areas.

Equal Housing Lender

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