Refinance Calculator – See How Much You Could Save

🔄 Refinance Calculator

Refinance Calculator — See How Much You Could Save

Find out in seconds whether refinancing your home loan is worth it. Enter your current loan details and a competitor rate to see your monthly savings, total interest savings, and how quickly refinancing costs pay for themselves.

⭐ Free Tool ⚡ Instant Results 💰 See Real Savings 🌍 Multi-Currency 🔒 No Sign-Up

Your Refinance Savings Calculator

🌍 Select Your Currency

All amounts below and in your results will use this currency.

📍 Your Current Loan

🎯 New Loan You Are Considering

Discharge + application + valuation fees

Monthly Saving
$0
lower repayment
Total Interest Saved
$0
over remaining term
Costs Paid Back In
—
break-even point

How to Use the Refinance Calculator

Refinancing your home loan to a more competitive lender is one of the most effective ways Australian borrowers can save thousands of dollars.

1. Choose Your Currency

Default is AUD, but the calculator supports 15 currencies including USD, EUR, GBP, INR, CAD, NZD and more.

2. Enter Your Current Loan Details

Enter your outstanding loan balance, current interest rate, and years remaining.

3. Enter the New Rate You Are Considering

Use the comparison rate of the loan you are considering, not just the advertised rate.

4. Add Switching Costs

Include discharge fees, application fees, valuation fees and any other refinancing costs.

5. Click Calculate

The calculator shows monthly savings, total estimated savings and the break-even period — along with a verdict on whether refinancing is worth it.

📐 Try this: Before refinancing, call your current lender and ask for a better retention rate.

When Should You Refinance?

  • Your rate is 0.5% or more above the best available rate.
  • You have not reviewed your rate in 2+ years.
  • Your property has gained value.
  • You want better loan features.
  • Your fixed term is ending.
⚠️ Watch out: Fixed rate loans may have break costs. Ask your lender before switching.

Refinancing Costs — What to Budget For

CostDescriptionTypical Amount
Discharge feeCharged by your current lender$150 – $400
Application feeNew lender setup fee$0 – $600
Valuation feeProperty valuation$0 – $600
Settlement feeCharged at settlement$0 – $300
Government registrationMortgage discharge and registration$150 – $400
Break costsFixed loans onlyVaries
LMIIf your new LVR exceeds 80%Varies

Smart Refinancing Tips

  • Negotiate with your current lender first.
  • Compare the comparison rate, not only the advertised rate.
  • Check for refinance cashback offers.
  • Do not reset to a fresh 30-year term unless needed.
  • Check your LVR before applying.

Refinance Calculator FAQ

How much can I save by refinancing?
It depends on your loan balance, rate difference, remaining term and switching costs.
How often should I review my home loan rate?
At least once a year, or whenever rates change significantly.
Can I refinance during a fixed rate term?
Yes, but break costs may apply. Ask your lender for a break cost quote first.
Can I use this for non-Australian loans?
Yes — the calculator supports 15 currencies including USD, EUR, GBP, INR, CAD, NZD, SGD and more. The refinance math is the same regardless of country.
Is this calculator free?
Yes, it is free to use and does not require sign-up.
⚠️ Important Disclaimer: This refinance calculator provides estimates for general information only and does not constitute financial advice.

Ready to Find a Better Home Loan Rate?

Now that you know your potential savings, compare Australian lenders offering competitive refinance rates.

💸 Lowest Rate Home Loans 📈 Variable Rate Lenders 🔒 Fixed Rate Lenders