Cash-Out Refinance Calculator
From current balance, rates, cash-out and costs, compute the new loan, monthly payment change, refinance cost and net cash received.
輸入資料
計算結果
重點速覽：A cash-out refinance replaces your mortgage with a larger new loan and takes the difference as cash — drawing on your property's appreciated equity. The tool combines current balance, cash-out, new rate/term and costs to show the new loan principal, old vs new monthly payment, the monthly change, refinance cost and net cash received. Example: balance 1.5m at 6.5% (23y left); cash out 200k at 6.5% for 25y, costs 35k → new loan 1.7m, new payment ~11,479 (old ~10,486), +~993/m, net cash ~165k. WARNING: It raises debt and usually extends the term, increasing lifetime interest; the cash must out-earn the mortgage rate. In Hong Kong, cash-out/equity withdrawal is subject to HKMA LTV caps and the stress test; the new loan cannot exceed the applicable LTV ceiling. Education, not advice.
計算公式
新貸款本金 = 現有餘額 + 套現金額。
開辦費 = 新貸款本金 × 開辦費百分比;再融資總成本 = 結束成本 + 開辦費。
到手現金 = 套現金額 − 再融資總成本。
新、舊每月供款分別以各自利率與年期按等額本息法計算;供款差額 = 新供款 − 舊供款。
$$\text{New Principal} = \text{Current Balance} + \text{Cash Out}$$$$\text{Refinance Cost} = \text{Closing Costs} + \text{New Principal} \times \text{Origination Fee \%}$$$$\text{Net Cash} = \text{Cash Out} - \text{Refinance Cost}$$$$\text{Payment Diff} = M_{\text{new}} - M_{\text{old}}$$使用說明
- Enter the current balance, old rate and remaining years.
- Enter the cash-out amount, new rate and new term.
- Enter origination fee and closing costs.
- View the new loan, payment change, cost and net cash.
以現有餘額 HK$1,500,000 (原利率 6.5%、剩餘 23 年，原月供約 HK$10,485.97)、新利率 6.5%、新年期 25 年、結束成本 HK$35,000 為例，不同套現金額對供款與到手現金的影響。
| 套現金額 | 新貸款本金 | 新月供 | 每月供款增加 | 到手現金 |
|---|---|---|---|---|
| HK$200,000 | HK$1,700,000 | HK$11,478.52 | +HK$992.55 | HK$165,000.00 |
| HK$400,000 | HK$1,900,000 | HK$12,828.94 | +HK$2,342.97 | HK$365,000.00 |
| HK$600,000 | HK$2,100,000 | HK$14,179.35 | +HK$3,693.38 | HK$565,000.00 |
理財情境案例
個案一:套現裝修、供款輕微上升 (套現 20 萬)
陳太現有按揭餘額 HK$1,500,000、利率 6.5%、剩餘 23 年，月供約 HK$10,486。物業升值後她想套現 HK$200,000 作裝修。
以新利率 6.5%、新年期 25 年、結束成本 HK$35,000 計算:新本金 HK$1,700,000、新月供約 HK$11,479，每月多供約 HK$993，扣除成本後實際到手現金 HK$165,000。
她評估每月多付近千元尚可負擔，而套現成本 (HK$35,000) 相對信用貸款利率便宜，因此認為為裝修套現是合理選擇。
個案二:套現愈多、供款壓力愈大 (20 萬 vs 60 萬)
同一筆按揭，若套現 HK$200,000，每月只多供約 HK$993;但若套現 HK$600,000，新本金升至 HK$2,100,000、新月供約 HK$14,179，每月多供高達約 HK$3,693。
到手現金雖由 HK$165,000 增至 HK$565,000，但每月供款負擔亦大增，且新年期 25 年比原剩餘 23 年更長，長遠總利息會顯著上升。
教訓:套現不是『免費』的資金，本金與年期一放大，供款與總利息都會跟着膨脹。應只套取真正需要、且用途回報高於按揭利率的金額，並在香港仍須符合金管局的加按成數與壓力測試。
常見問題
What is the difference between cash-out refinance and an equity loan (second mortgage)?
Both draw equity. A cash-out refinance replaces the whole mortgage with one larger new loan (single payment); an equity loan / second mortgage sits on top of the existing one (two separate payments). Refinance usually consolidates into one payment and may get the current market rate on the whole balance; a second mortgage adds a second, often higher-rate, payment. Choose by rate, fees and whether you want to disturb the first mortgage.
Why watch the refinance cost?
Fees (origination, valuation, legal) eat into the cash you actually receive. The tool shows net cash = cash-out minus cost. A small cash-out can be heavily eroded by fixed costs, so the effective cost is high; larger, well-justified draws spread the cost better. Always compare net cash, not gross.
Will the monthly payment always rise?
Not always. If the new rate is much lower or the term is longer, the payment can stay flat or fall even with a bigger principal — but a longer term usually means more total interest. The tool shows the payment difference so you can judge; do not mistake a flat payment for 'free' cash.
Are there LTV limits on cash-out in Hong Kong?
Yes. The HKMA sets loan-to-value (LTV) caps on mortgage equity withdrawal / cash-out that are generally stricter than for a purchase (depending on property value, use and whether owner-occupied), and you must pass the debt-servicing-ratio and interest-rate stress test. The total new loan cannot exceed the applicable LTV ceiling; the actual amount is subject to the bank's valuation and policy at the time. This is a key Hong Kong constraint to check before planning.
What is the cash best used for?
Since the cash effectively costs the mortgage rate, it suits uses that return more than the mortgage rate or are necessary large outlays — e.g. value-adding renovation, consolidating higher-rate debt. Using it for consumption or speculative bets with uncertain returns can backfire. Before drawing, weigh the payment increase and total interest against the use's expected return. Education, not advice.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。