San Jose 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 San Jose's ~$1,450,000 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. MortEdu is an educational publisher, not a lender, broker, or servicer. Verify every figure with a licensed lender.
Built on San Jose, California figures
Borrowable equity on a San Jose home at the San Jose median value of $1,450,000, shown at three lender CLTV ceilings. Assumes you still owe half the value. Typical California statewide homeowners insurance runs about $5,858 a year at this value.
| Combined loan-to-value | Max total borrowing | If you owe 50% | Equity available |
|---|---|---|---|
| 80% CLTV | $1,160,000 | $580,000 | $435,000 |
| 85% CLTV | $1,232,500 | $616,250 | $507,500 |
| 90% CLTV | $1,305,000 | $652,500 | $580,000 |
San Jose is the largest city in the San Francisco Bay Area and the heart of Silicon Valley, with a population near 990,000. Its housing stock ranges from 1950s-60s ranch homes in neighborhoods like Cambrian Park and Willow Glen to newer developments in Evergreen and higher-end properties in Almaden Valley, and typical prices are among the highest in the nation, commonly $1.4 million and up. Because prices routinely exceed the county's conforming loan limit, many local buyers encounter jumbo financing, sizable down payments, and California-specific factors such as wildfire and earthquake considerations. This page explains those concepts in plain terms so buyers can understand the local landscape before speaking with a lender or agent.
Why insurance moves the number here: San Jose sits in a seismically active region: the Calaveras and Hayward faults run through the eastern part of the county and the San Andreas fault lies to the west, and much of the valley floor is mapped by the California Geological Survey for liquefaction (with landslide hazard in the foothills). Wildfire risk concentrates in the wildland-urban interface along the eastern (Diablo Range) and southern foothills; CAL FIRE and the Office of the State Fire Marshal released updated Fire Hazard Severity Zone maps that expanded moderate-to-very-high zones in and around the city, and any address can be checked on the CAL FIRE/OSFM viewer. As standard insurers non-renew some higher-risk foothill homes, owners may turn to the California FAIR Plan, the state's fire-only insurer of last resort, typically paired with a separate wrap policy for other perils. Flood exposure is lower but real along the Coyote Creek and Guadalupe River corridors, which produced notable flooding in 2017; FEMA flood maps determine lender flood-insurance requirements. Wind exposure is a large part of why a San Jose payment can differ from the same price elsewhere, so the insurance figure above is doing real work in the total.
Median value plus the county property-tax rate and statewide insurance figure come from public data held in this site’s own dataset. Payments use an illustrative 6.875% 30-year rate and are estimates for education only — never a quote, offer, or approval. Change any input in the calculator above to model your own scenario.
Understanding the San Jose Market
San Jose sits in Santa Clara County, California. Neighborhoods such as Willow Glen, Almaden Valley, Evergreen, Rose Garden, and Cambrian Park each carry their own mix of home ages, price tiers, and insurance considerations that are worth understanding before you set a budget in San Jose.
A buyer planning a budget in San Jose usually starts from the area's approximate median home value of about $1,450,000 (a rough market benchmark, not a quote).
Taken together, the median price, Santa Clara County tax rate, and insurance outlook are what shape a realistic monthly payment in San Jose — 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 California lender of your choice before making any decisions.