Right of Rescission Calculator
Right of Rescission Calculator
Your exact three-business-day TILA cancellation deadline.
Your exact three-business-day TILA cancellation deadline.
Generated from the inputs below — a record you can revisit, or share with anyone helping you plan.
The later of: the date documents were signed, or the date the last required disclosure and the notice of right to cancel were delivered.
Purchase money loans on a principal dwelling are exempt under 12 CFR 1026.23(f)(1).
The right to rescind attaches only to the consumer's principal dwelling.
Pick the date the loan documents were signed, or the date the last required disclosure was delivered — whichever is later. 12 CFR 1026.23(a)(3) runs the clock from the later of the two.
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Picked based on what this calculator does
Break-even analysis for refinancing.
Open calculatorEstimate fees and taxes.
Open calculatorFixed-rate lump sum payment and amortization.
Open calculatorNew payment after a lump sum, re-amortized.
Open calculatorPITI, Extra Payments, and PMI.
Open calculatorExtra payments, lump sums, and biweekly savings.
Open calculatorThe Truth in Lending Act's right of rescission gives borrowers on certain home-secured loans three business days to cancel — but "business day" has a specific legal definition under Regulation Z that trips people up in both directions: Saturdays count, but Sundays and federal holidays don't. A signing on a Thursday doesn't expire on Sunday; it expires the following Monday.
This calculator runs the exact day-by-day count under 12 CFR § 1026.23, checks whether your transaction even has a rescission period in the first place (many don't), and tells you the earliest date your lender is legally allowed to disburse funds.
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This is the first thing the calculator checks, because getting it wrong the other way — assuming a rescission period exists when it doesn't — needlessly delays funding. Two categories are exempt entirely:
Where it does apply: refinances, home equity loans, and HELOCs secured by your primary residence. One nuance worth knowing — refinancing with your same existing lender is exempt to the extent no new money changes hands (12 CFR § 1026.23(f)(2)), but if you're taking cash out, rescission still applies to that new advance.
Say you sign a refinance with a new lender, on your primary residence, on a Thursday with no federal holiday nearby. The count runs like this:
| Day | Status |
|---|---|
| Thursday | Signing / disclosure date — day zero, not counted |
| Friday | Business day 1 |
| Saturday | Business day 2 — Regulation Z counts Saturdays |
| Sunday | Excluded — not a business day for this purpose |
| Monday | Business day 3 — rescission expires at midnight |
Earliest disbursement: Tuesday — 12 CFR § 1026.23(c) bars the lender from releasing funds until the period has expired and they're reasonably satisfied no rescission notice arrived. Elapsed calendar time from signing to expiry: 4 days, not 3 — this is the general pattern, not a special case. The exact count shifts around federal holidays (New Year's Day, MLK Day, Presidents' Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving, Christmas), each of which is also excluded from the count regardless of which weekday it falls on.
A federal protection under the Truth in Lending Act that lets a borrower cancel certain loans secured by their principal residence within three business days of closing, receiving the disclosures, or receiving the notice of the right to rescind — whichever is latest.
Three business days. Saturdays count as business days for this purpose, while Sundays and federal holidays do not — which is why the deadline often falls later than a simple three-day count suggests.
It generally applies to refinances with a new lender, home equity loans and HELOCs on a principal residence. It does not apply to a purchase-money mortgage, or to a refinance with your existing lender where no new money is advanced.
Lenders cannot disburse until the rescission period has ended, so funding typically occurs on the business day after expiry. This is the usual reason a refinance closing and the arrival of funds are several days apart.
Yes, but only for a genuine financial emergency, and only with your own written, dated, signed statement -- pre-printed waiver forms aren't valid. See our full right of rescission guide for the exact waiver requirements and what happens if your lender misses a required disclosure.
Go deeper than the calculator — the full playbook, explained.
$0 down doesn't mean $0 to close.
Closing costs ÷ monthly savings = months to break even. If you'll move before then, refinancing loses money.
The right of rescission lets you cancel a refinance or home equity loan within 3 business days — but not a home purchase.