Farm Loans Australia Home Loan Refinance Calculator
Explore the pros and cons of refinancing your home loan with comparison amortization schedules, break-even points, and charts to help illustrate your proposed refinancing options.
Calculator results are estimates based on the inputs and assumptions used and are provided for general information only. They are not quotes, offers, approval, eligibility decisions or personalised recommendations, and do not indicate that a lender will provide finance. Actual rates, fees and repayments may differ.
Home Loan Refinance Calculator
Compare your existing home loan with a potential refinance option. Estimate changes to repayments, interest costs, loan term, break-even timing and the overall benefit or cost of switching lenders or restructuring your loan.
1. Existing loan
2. Refinance option
3. Outcome
4. Charts
5. Detail
Your existing home loan
Optional. Leave blank and the calculator will estimate the repayment based on your current balance, rate and remaining term.
Include any estimated discharge, settlement, fixed-rate break or exit-related costs.
Proposed refinance option
Switching costs and adjustments
Enter the portion of refinance costs paid upfront rather than added to the new loan.
Estimated refinance outcome
Enter your existing loan and refinance details to estimate the potential outcome.
$0
Estimated monthly repayment difference
$0
Estimated total saving / additional cost
$0
Estimated interest saving / increase
N/A
Estimated break-even timing
$0
Existing loan repayment estimate
$0
New loan repayment estimate
$0
Estimated new loan amount
$0
Net switching cost after incentive
This calculator is a general information tool only. It does not assess your eligibility, compare all available home loans, or provide financial advice. Actual refinance outcomes may depend on lender assessment, valuation, fees, rate changes, loan features and your personal circumstances.
Home loan refinance charts
These charts compare the estimated path of your existing loan against the proposed refinance scenario.
Estimated loan balance over time
Estimated cumulative interest
Total estimated cost comparison
Cumulative estimated saving / cost
Detailed refinance comparison
Period
Label
Existing balance
Existing interest
Existing repayment
New balance
New interest
New repayment
Existing cumulative cost
New cumulative cost
Cumulative difference
How to use our Home Loan Refinance Calculator
Our Home Loan Refinance Calculator helps you compare your current mortgage with a proposed refinance to estimate repayment changes, interest cost differences, break-even timing, and the potential benefit or cost of switching. It is important because refinancing can reduce repayments or total interest, but it can also increase costs if fees, break costs, a longer term, or extra borrowing outweigh the savings.
How to complete the calculator for the best result
1. Your existing home loan: Enter your current home loan balance, current interest rate, and remaining term in years and extra months. Choose your repayment frequency (monthly, fortnightly, weekly). If you know your current regular repayment, enter it; otherwise leave it blank so the calculator estimates it from your balance, rate and term. Add any extra repayment you currently make per period, your current monthly loan or package fee, and your estimated discharge, exit, settlement or fixed-rate break fee.
2. Proposed refinance option: Enter the new interest rate, select the new loan type (variable, fixed, split, introductory), and set the new loan term (years and extra months). Add any planned extra repayments and the new monthly loan or package fee.
3. Switching costs and adjustments: Add application, settlement, legal, valuation, lender, and government or registration fees. Enter any cashback or refinance incentive (as a positive amount). If you plan to borrow extra or release equity, enter the additional amount. If you will pay some costs upfront from savings instead of adding them to the new loan, enter that portion under costs paid upfront.
4. Calculate and review: Select your primary reason for refinancing and calculate the outcome.
How to interpret the results
1. Repayment difference shows the estimated change in your minimum repayment based on your inputs and frequency.
2. Total saving or additional cost and interest saving or increase compare overall cost and interest between scenarios, factoring in fees and incentives.
3. Break-even timing estimates when cumulative savings may offset the net switching cost after incentives. Earlier break-even generally improves the case for refinancing, but it is not guaranteed.
4. Charts and the detailed table act like a comparison amortisation schedule, showing estimated loan balance, cumulative interest, total cost, and cumulative difference over time.
General information only, not personal advice. Real outcomes depend on lender approval, valuation, rate changes, fees (including break costs), and your circumstances. Consider getting independent advice before acting.
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Knowledgebase
Derivative: A financial security whose value is dependent upon or derived from an underlying asset or group of assets.
