Refinance Calculator AU
Table of contents
7 sections
How to prepare and compare a home loan refinance
Record the loan you have now
Use a recent statement to record the outstanding balance, rate, remaining term, repayment frequency and recurring fees. List any offset or redraw facilities you rely on separately. The original loan amount and original 30-year term may no longer describe your current position.
Open the home loan refinance calculator and enter the balance you still owe. Its two loan scenarios use the same remaining term. If a new offer extends the term, also obtain lender schedules showing the effect on total interest.
Compare a new offer with staying put
Ask your current lender whether it can improve your rate or fees. Then gather a written external offer and compare the same balance and term. Use the two-offer comparison calculator to place a retention offer beside a new-lender offer.
Replace any illustrative calculator rate with the rate in the offer. Check the ongoing fees, offset access, redraw rules and restrictions. A smaller repayment alone does not establish a lower overall cost.
Price the change before you apply
Request discharge, application, valuation, settlement and government charges. If you are leaving a fixed term, request a dated break-cost quote. Ask whether lenders mortgage insurance applies to the proposed borrowing. Enter costs once and count cashback only when its conditions can be met.
Use the costs and break-even calculator to compare net costs with monthly savings after ongoing fees. Your expected time in the loan matters: a saving that arrives after you plan to sell is different from one you can realise while you keep the loan.
Prepare the application and check settlement
Use the refinance checklist to organise identification, income evidence, current statements and information about debts and expenses. The lender decides the documents and assessment it needs; a calculator result is not approval.
Read the approved loan documents and repayment schedule before accepting. Coordinate the discharge and settlement process with the lenders or broker. After settlement, verify the old loan has closed, the new balance is correct and the repayment instructions work. Check linked accounts before cancelling anything.
A comparison that keeps the decision clear
For an illustrative $600,000 balance with 25 years remaining, start by comparing both offers over 25 years. If another quote uses 30 years, keep that as a separate scenario: its lower repayment may come from the longer repayment period. The main calculator does not model two different remaining terms in one comparison.
Write down why you want to refinance—cost, features, extra borrowing or loan structure—and keep that goal beside the numbers. The timing guide helps you assess whether the change fits how long you expect to hold the loan.
Sources and calculator limits
Sources checked on 28 October 2026. Examples use fixed inputs; actual fees, rates, valuations and approval rules can differ. Read the calculator assumptions and limitations. For questions about the site, contact us. About Sana Hosseni and the calculators.
Continue exploring
Where will your next move take you?
Choose the calculator or guide that helps you understand your next refinance decision. Browse all calculators or explore the guides.
Calculators and practical guides
Compare your current loan with a new loan, including repayments, fees and payoff time.
Work out your loan-to-value ratio, equity and distance from 80% LVR.
Estimate your usable equity and the loan amount at your chosen LVR.
Compare two offers against your current loan, including fees and cashback.
Add up switching costs and estimate how long your savings take to cover them.
