Refinance My Mortgage Home Loan Refinance Calculator
Explore potential home loan refinancing scenarios with our Home Loan Refinance Calculator. Test different interest rates, loan terms and refinancing costs, and use comparison amortisation schedules, break-even estimates and charts to see how these variables may affect your repayments and overall borrowing costs.
Calculator results are estimates based on the inputs and assumptions used and are provided for general information only. They are not quotes, offers, approvals, eligibility decisions or personalised recommendations, and do not indicate that a lender will provide credit. Actual costs and repayments may differ.
Home Loan Refinance Calculator
Compare your existing home loan with a potential refinance option. Estimate changes to repayments, interest costs, loan term, break-even timing and the overall benefit or cost of switching lenders or restructuring your loan.
1. Existing loan
2. Refinance option
3. Outcome
4. Charts
5. Detail
Your existing home loan
Optional. Leave blank and the calculator will estimate the repayment based on your current balance, rate and remaining term.
Include any estimated discharge, settlement, fixed-rate break or exit-related costs.
Proposed refinance option
Switching costs and adjustments
Enter the portion of refinance costs paid upfront rather than added to the new loan.
Estimated refinance outcome
Enter your existing loan and refinance details to estimate the potential outcome.
$0
Estimated monthly repayment difference
$0
Estimated total saving / additional cost
$0
Estimated interest saving / increase
N/A
Estimated break-even timing
$0
Existing loan repayment estimate
$0
New loan repayment estimate
$0
Estimated new loan amount
$0
Net switching cost after incentive
This calculator is a general information tool only. It does not assess your eligibility, compare all available home loans, or provide financial advice. Actual refinance outcomes may depend on lender assessment, valuation, fees, rate changes, loan features and your personal circumstances.
Home loan refinance charts
These charts compare the estimated path of your existing loan against the proposed refinance scenario.
Estimated loan balance over time
Estimated cumulative interest
Total estimated cost comparison
Cumulative estimated saving / cost
Detailed refinance comparison
Period
Label
Existing balance
Existing interest
Existing repayment
New balance
New interest
New repayment
Existing cumulative cost
New cumulative cost
Cumulative difference
How to use our Home Loan Refinance Calculator
Our Home Loan Refinance Calculator helps you compare your current mortgage with a proposed refinance to estimate repayment changes, interest cost differences, break-even timing, and the potential benefit or cost of switching. It is important because refinancing can reduce repayments or total interest, but it can also increase costs if fees, break costs, a longer term, or extra borrowing outweigh the savings.
How to complete the calculator for the best result
1. Your existing home loan: Enter your current home loan balance, current interest rate, and remaining term in years and extra months. Choose your repayment frequency (monthly, fortnightly, weekly). If you know your current regular repayment, enter it; otherwise leave it blank so the calculator estimates it from your balance, rate and term. Add any extra repayment you currently make per period, your current monthly loan or package fee, and your estimated discharge, exit, settlement or fixed-rate break fee.
2. Proposed refinance option: Enter the new interest rate, select the new loan type (variable, fixed, split, introductory), and set the new loan term (years and extra months). Add any planned extra repayments and the new monthly loan or package fee.
3. Switching costs and adjustments: Add application, settlement, legal, valuation, lender, and government or registration fees. Enter any cashback or refinance incentive (as a positive amount). If you plan to borrow extra or release equity, enter the additional amount. If you will pay some costs upfront from savings instead of adding them to the new loan, enter that portion under costs paid upfront.
4. Calculate and review: Select your primary reason for refinancing and calculate the outcome.
How to interpret the results
1. Repayment difference shows the estimated change in your minimum repayment based on your inputs and frequency.
2. Total saving or additional cost and interest saving or increase compare overall cost and interest between scenarios, factoring in fees and incentives.
3. Break-even timing estimates when cumulative savings may offset the net switching cost after incentives. Earlier break-even generally improves the case for refinancing, but it is not guaranteed.
4. Charts and the detailed table act like a comparison amortisation schedule, showing estimated loan balance, cumulative interest, total cost, and cumulative difference over time.
General information only, not personal advice. Real outcomes depend on lender approval, valuation, rate changes, fees (including break costs), and your circumstances. Consider getting independent advice before acting.
Australian mortgage refinancing slowed in the September quarter, according to the latest Australian Bureau of Statistics lending indicators released on 11 November 2026. The figures point to a cooler lending market overall, with fewer new home loans and fewer refinanced loan commitments, but they also show that many borrowers are still moving loans between lenders rather than only renegotiating with their existing bank. - read more
Australian mortgage holders have another rate change to factor into their household budgets after the Reserve Bank lifted the cash rate target by 25 basis points to 4.85 per cent at its November meeting, effective 4 November 2026. The move follows the September increase and gives refinancers a fresh reason to test whether their current loan still stacks up, particularly if their lender passes the rise through to variable home loan rates. - read more
Australian mortgage holders are facing a fresh repayment squeeze after the Reserve Bank of Australia lifted the cash rate target by 25 basis points to 4.60 per cent on 29 September 2026, with the major banks subsequently moving variable home loan rates higher in October. - read more
Fresh housing finance reporting continues to show investor lending as one of the more resilient areas of the Australian mortgage market. For homeowners thinking about refinancing, that matters because lenders do not assess every borrower in the same way. Loan purpose, income stability, equity position and repayment buffer can all influence both approval prospects and the sharpness of the rate offered. - read more
Refinancing can reduce repayments or improve loan features, but fees can affect whether switching is worthwhile. Learn the common refinancing costs in Australia and how to estimate your break-even point. - read more
Refinancing a home loan is not just about finding a lower rate. Australian lenders commonly assess your income, expenses, credit history, equity, property value and overall serviceability before deciding whether a refinance application meets their criteria. - read more
In the realm of homeownership, mortgage refinancing stands out as a valuable tool for financial management. At its core, refinancing refers to the process of revising and replacing the terms of your existing mortgage agreement. Homeowners choose this path for various reasons, such as accessing a better interest rate, altering the loan term, or tapping into home equity. - read more
Accessing home equity through refinancing can help fund renovations, investments, debt consolidation or other major costs, but it usually means increasing the debt secured against your home. This guide explains how equity works, how lenders assess cash-out refinancing and what risks to weigh before increasing your loan balance. - read more
Knowledgebase
Private Mortgage Insurance (PMI): A type of insurance that a borrower might be required to purchase as a condition of a conventional mortgage loan, if the down payment is less than 20% of the property value.
