Refinance My Mortgage Home Loan Refinance Calculator
Explore the pros and cons of refinancing your home loan with comparison amortization schedules, break-even points, and charts to help illustrate your proposed refinancing options.
'Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.'
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.
Fresh lending indicators suggest Australian homeowners are still looking closely at whether their existing mortgage remains competitive, even as the market becomes more cautious. While new borrowing demand has been uneven, refinancing continues to stand out as an area where established borrowers can take practical action rather than simply waiting for the next Reserve Bank decision. - read more
Fresh refinance award analysis has added a timely reminder for Australian homeowners: a competitive home loan is not judged by the advertised rate alone. While interest rates remain the headline figure most borrowers notice first, recent market comparisons are placing more emphasis on the overall value of a refinance offer, including fees, loan flexibility, repayment options and borrower support. - read more
Softer auction conditions in Sydney and Melbourne are adding a new consideration for homeowners thinking about refinancing. Recent market reporting points to a sharp drop in clearance rates across both capitals, with buyers and sellers appearing more cautious as borrowing costs, affordability limits and price expectations collide. - read more
The start of a new financial year is a useful prompt for Australian mortgage holders to look past the set-and-forget approach. With the cash rate sitting at elevated levels and household budgets still under pressure, the question is not simply whether your home loan is expensive. It is whether the structure still suits the way you live, save and repay debt. - 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
Mortgage refinancing refers to the process of replacing your existing home loan with a new one, typically under different terms. Essentially, you're paying off your old mortgage with a new loan. This can be an extremely useful financial maneuver, allowing homeowners to benefit from better interest rates or change their loan type to suit their current needs. - read more
Mortgage refinancing involves replacing your current home loan with a new one, often to benefit from better terms. This financial maneuver is commonly pursued to seize lower interest rates, reduce monthly payments, or alter the loan term. It can also provide cash by tapping into the equity you've built up in your home. - read more
Mortgage refinancing involves replacing your existing home loan with a new one, usually to take advantage of better interest rates or terms. By switching lenders or renegotiating with your current lender, refinancing can lead to lower monthly payments, reduced loan terms, or access to equity for other expenses. - read more
Knowledgebase
Mortgage Broker: A person or company that acts as an intermediary between borrowers and lenders, but does not lend money directly.
