Estimate the financial pros and cons of refinancing your mortgage, including break costs, establishment fees and interest rate differentials. This calculator also includes a comparison amortization schedule with break-even point, and charts to help you understand whether or not mortgage refinancing could be beneficial over time.
'Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.'
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.
In an effort to mitigate financial stability risks, the Australian Prudential Regulation Authority (APRA) has implemented a new policy effective from 1 February 2026, capping the proportion of new residential mortgages with a debt-to-income (DTI) ratio exceeding six times at 20% for authorised deposit-taking institutions (ADIs). This move aims to curb high-risk lending practices and address concerns over escalating household indebtedness. - read more
In a notable development within the Australian banking sector, Macquarie Bank has reported a substantial 28% increase in its home loan portfolio, reaching $181.3 billion as of 31 March 2026. This impressive growth is largely attributed to the bank's strategic emphasis on partnerships with mortgage brokers, who were responsible for originating over 95% of new home loans during the financial year. - read more
The Australian Finance Group (AFG) has reported a record-breaking $31.6 billion in home loan lodgements during the second quarter of the 2026 financial year, marking a 25% increase over the previous best second-quarter result. This milestone underscores the robust activity within the mortgage broker sector and the growing reliance of borrowers on broker services to navigate the complex lending landscape. - read more
The Reserve Bank of Australia (RBA) has announced a 0.25% increase in the cash rate, bringing it to 4.35%. This marks the third consecutive rate hike in 2026, a move aimed at curbing rising inflation pressures. The decision reflects the RBA's commitment to maintaining economic stability amid global uncertainties and domestic inflationary trends. - read more
Australia’s housing market is known for its vibrant and ever-changing nature. Navigating through its complexities can be quite the feat for any homeowner. With property prices experiencing fluctuations, many Australians are exploring avenues to maximise their financial opportunities. - read more
If you're an Australian homeowner, you've probably noticed discussions about refinancing becoming more frequent. Recent trends in interest rates have led many to explore this financial strategy. So, what exactly is refinancing, and why is it such a hot topic right now? - 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
Loan Origination Fee: A fee charged by a lender for processing a new loan application, typically expressed as a percentage of the loan amount.
