Refinance Calculator
Is Your Current Rate Still Working for You?
Most people refinance for a better rate, but the decision is rarely just about the number. Break costs, switching fees, your LVR, and how long you plan to stay in the loan all affect whether refinancing actually puts you ahead.
Whether you're on a variable rate that hasn't moved, coming off a fixed term, or simply wondering if there's a better deal out there, the right answer depends on your numbers. Use the calculator below to compare your current loan against a new rate, see the full cost of switching, and find out how long it takes to break even.
This is a general refinance savings estimator for standard residential home loans – owner-occupied and investment, principal & interest and interest-only. It does not account for commercial loans, SMSF, construction finance, or specialist products. Break cost estimates for fixed-rate loans are approximations only – actual figures must be obtained from your current lender. All results are estimates and should not be relied upon as financial advice. A mortgage broker can give you an accurate picture based on your specific loan and circumstances.
Your current loan
Please enter a valid property value.
Please enter a valid loan balance.
Please enter a valid interest rate.
Please enter remaining years (1–30).
Enter decimal for partial years (e.g. 0.5 for 6 months remaining).
Break costs are estimated on the fixed portion only. The variable portion can typically be switched with just a discharge fee.
The new rate you’re considering
Please enter a valid new interest rate.
Defaults to 30 years. Adjust to keep your remaining term or use a shorter period.
Default values are used for typical switching costs. Override any of these with your actual figures.
If you have an exact break cost figure from your lender, enter it here. Always confirm the actual figure with your lender before making any decision.
Your LVR & rate position
Loan balance
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Property value
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LVR
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Equity
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Monthly repayment comparison
Cost of switching
Net savings over time – after switching costs
Interest saved minus total switching costs at each checkpoint. Negative means switching costs are still being recouped; positive means you are ahead.
This calculator provides general information only and does not constitute financial, legal, or tax advice. It is intended as a guide only and does not take into account your personal circumstances.
All figures are estimates. Break costs for fixed-rate loans are particularly difficult to estimate accurately and must be confirmed with your current lender before relying on them. Actual savings will depend on rates, lender policies, fees, and market conditions which may change.
Interest-only repayments shown do not include principal reduction; the loan balance remains unchanged for the interest-only period.
Before making any financial decisions, you should seek advice from a qualified and licensed professional.
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