Your Home Loan Consultant

0482 086 789

Apply NOW
Home › Home Loan Guides › Home Loan Mortgage Calculator Hub › Switching Lenders Refinance Calculator

Mortgage Switching Calculator – Should You Refinance?

Refinancing isn’t just about chasing a lower rate.

What matters is how it affects your repayments, your total interest, and how long the loan really takes to pay off.

See What Refinancing Could Look Like
Home Loan Refinancing

What this calculator helps you see

  • Whether refinancing reduces your total cost (not just the headline rate)
  • How many years you could cut off the loan
  • How much interest could you save over time by refinancing
  • The impact of keeping repayments steady instead of “resetting” the loan

Refinance Savings Calculator

Compare your current loan against a proposed refinance option and see the potential repayment change, interest savings and time saved.

This calculator compares your current loan with a proposed refinance option. View the result using the new minimum repayment, keeping your current monthly repayment, or paying half your current monthly repayment every fortnight.

Current Loan

Other debts to be consolidated

Proposed Refinance

Estimated total refinance amount $600,000

Repayment comparison mode

Compare the proposed minimum repayment, keeping your current monthly repayment, or paying half your current monthly repayment every fortnight.

Estimated Results

Current Loan
Current monthly repayment $0
Current interest and fees $0
Current time to repay 0y 0m
Proposed Refinance
Proposed monthly repayment $0
Proposed interest and fees $0
Proposed time to repay 0y 0m
Monthly repayment difference $0
Interest and fees saved $0
Time saved 0y 0m
Enter your loan details and calculate to estimate the potential refinance benefit.

This calculator is a general estimate only. Where other debts are entered, their balances and repayments are included, but their existing interest and fees are not. It assumes consistent interest rates and monthly repayments, except in the fortnightly mode where it assumes 26 equal repayments per year. It does not account for offset balances, future rate changes, lender-specific fees, cashback eligibility, break costs, tax outcomes or personal advice considerations.

Take action today and start saving

Finding A Lower Rate Is Easy

But .... Refinancing the SMART way will save you more!

 Explore my options

Refinancing Switching Lenders FAQ

How do I know if refinancing is worth it?

If the interest savings and years outweigh the costs (and the new loan fits your goals), it may be worth it. This calculator shows estimated savings, and then we can sanity-check it against real lender pricing and fees

Is it better to reset to 30 years or keep the same remaining term?

Resetting can reduce the minimum repayment, but it can also increase total interest over time. If you can afford it, keeping your repayment closer to what you pay now can accelerate the time to pay off your home loan.

What’s the difference between a lower rate and a better outcome?

A lower rate helps, but the outcome depends on the term you choose, any fees, and whether you maintain (or increase) repayments. The results toggle helps you quickly compare those approaches.

Will I always save money by refinancing?

Not always. If fees are high, the rate difference is small, or you extend the term and reduce repayments, the long-term cost can rise. A comparison like this keeps it honest.

Does refinancing affect my borrowing capacity?

Refinancing can sometimes improve borrowing capacity by resetting the loan term, which may reduce the repayment used in lender assessments.