How much of a money can I get?

The amount you money you can get on cash-out refinance real estate property loan depends on two main factors:

  1. Your debt-to-income ratio.
  2. The amount of equity you have in your home.

To calculate your debt-to-income ratio, write down all of your monthly debts (don’t worry about utilities or your television service), then divide that amount by your monthly gross income.  The underwriter will take a look at the percentage that results and determine how much you can afford to pay per month.  Then, within the amount of equity you have available to you, it can be determined how much you could borrow and still be within what you can afford.