Explore the potential costs and savings of mortgage refinancing with our calculator. Test different interest rates, break costs and establishment fees, and use comparison amortisation schedules, break-even estimates and charts to see how refinancing scenarios may affect repayments and overall borrowing costs over time.
Calculator results are estimates based on the inputs and assumptions used and are for general information only. They are not quotes, offers, loan approvals, eligibility decisions or personalised recommendations, and do not indicate that a lender will provide credit. Actual costs and repayments may differ.
1. Current mortgage
2. New loan
3. Results
4. Charts
5. Table
Mortgage Refinance Calculator
Estimate whether refinancing your mortgage could reduce repayments, lower total interest, or improve cash flow after allowing for new rates, loan terms, fees, cashback offers and any extra amount borrowed.
Current mortgage details
Optional. Leave blank and the calculator will estimate the required repayment from the balance, rate and remaining term.
Include discharge fees, settlement fees, fixed-rate break costs or similar costs payable to leave the current loan.
Proposed refinance details
Refinance costs and adjustments
Optional. If some costs are not added to the new loan, enter the amount here.
Refinance summary
Enter your mortgage and refinance details to calculate an estimated result.
$0
Estimated monthly repayment difference
$0
Estimated lifetime saving / cost difference
$0
Estimated interest saving / increase
N/A
Estimated break-even point
$0
Current estimated repayment
$0
New estimated repayment
$0
Estimated new loan amount
$0
Net refinance cost after cashback
This calculator provides general estimates only. Actual refinance outcomes may vary depending on lender policy, credit assessment, valuation, interest rate changes, fees, repayment structure and whether costs are paid upfront or added to the loan.
Refinance comparison charts
The charts compare your estimated current mortgage path against the proposed refinance option.
Loan balance over time
Cumulative interest paid
Total cost comparison
Cumulative saving / cost over time
Amortisation comparison table
Period
Label
Current balance
Current interest
Current repayment
New balance
New interest
New repayment
Cumulative current cost
Cumulative new cost
Cumulative saving
How to use our Mortgage Refinance Calculator
Our Mortgage Refinance Calculator helps you estimate the financial pros and cons of refinancing a home loan in Australia by comparing your current mortgage against a proposed new loan. It factors in interest rate differences, remaining term, ongoing fees, exit or break costs, new lender establishment costs, cashback incentives, and any extra amount borrowed. This matters because a lower rate does not always mean a better outcome once upfront costs and loan term changes are included.
How to complete the calculator for the most accurate result:
1. Current mortgage details
Enter your current loan balance, current interest rate, and the remaining term in years and extra months. Choose your repayment frequency. If you know your current regular repayment, add it (optional); otherwise the calculator will estimate it. Include any extra repayments per period and your current monthly loan or package fee. Add your estimated discharge, exit, or fixed-rate break fee, as this can materially change the break-even point.
2. Proposed refinance details
Enter the new interest rate, select the new rate type, and input the new loan term. Add any extra repayment you plan to make on the new loan to reflect faster debt reduction.
3. Refinance costs and adjustments
Enter application, settlement, legal, valuation, lender and government fees. Add any cashback incentive, and include any extra amount borrowed or cash out. If you will pay some costs from savings instead of adding them to the loan, enter the amount under costs paid upfront. Include the new monthly loan or package fee and choose your main refinance goal.
How to interpret the results:
Review the estimated monthly repayment difference, lifetime saving or cost difference, and interest saving or increase. The break-even point shows when cumulative savings offset net refinance costs after cashback. Use the charts and amortisation comparison table to see how balances, interest and total costs evolve over time.
Important: This calculator provides general information only and does not consider your objectives, financial situation or needs. Results are estimates and may differ due to lender policies, rate changes and fees. Consider getting professional advice before refinancing.
Australian mortgage holders are moving from rate speculation to repayment reality after the Reserve Bank of Australia lifted the cash rate target by 25 basis points to 4.85 per cent on 3 November 2026, with major and smaller lenders now passing through increases to variable home loan customers. - read more
Australian mortgage holders enter the first week of November with interest-rate risk firmly back on the household budget agenda, after the cash rate rose to 4.60 per cent in late September and market pricing pointed to a meaningful chance of another increase at the Reserve Bank of Australia’s 3 November decision. - read more
Recent housing finance data and property market reporting point to a familiar pattern: Australian buyers are taking on larger home loans as prices recover in several markets. For mortgage holders, that matters even if they are not planning to move. A bigger lending environment can reshape lender competition, valuation outcomes and the way banks assess refinance applications. - read more
Fresh lending momentum suggests Australian mortgage holders are becoming more active again, with refinancing moving back onto the household finance agenda after a period of caution. For many borrowers, the trigger is not simply the hope of a lower advertised rate. It is the broader pressure of higher repayments, tighter budgets and the realisation that existing customers can drift away from the sharpest offers unless they take action. - read more
Refinance eligibility depends on more than finding a lower advertised rate. Australian lenders commonly assess income, expenses, credit history, home equity, LVR, property valuation and supporting documents before deciding whether to approve a refinance application. - read more
Mortgage brokers can help Australian homeowners compare refinance options, but they also operate under licensing, conduct, disclosure and remuneration rules. Understanding these obligations can help you ask better questions before refinancing. - read more
Mortgage refinancing is the process of replacing your existing home loan with a new one, usually with better terms or conditions. It can provide Australian homeowners with an opportunity to reduce their monthly payments, lower interest rates, or switch to a different loan type that better suits their financial goals. - read more
Refinancing your home mortgage loan has become a significant conversation topic lately, especially with the current fluctuations in interest rates across Australia. For many homeowners, these discussions come in the context of rising interest rates, which can substantially affect monthly repayments. - read more
Knowledgebase
Derivative: A financial security whose value is dependent upon or derived from an underlying asset or group of assets.
