Refinance Repayment Estimator
Compare your current repayments with a proposed new loan using your own figures. All rates shown are illustrative examples, not offers or available products.
Refinance Repayment Estimator
An illustration only. Every rate, fee and repayment shown is an example you enter yourself — not a quote, offer or available product.
Illustrative example only. The default rates are placeholders, not rates available to you. Your actual rate, fees and eligibility depend on your lender and circumstances. This tool does not consider your objectives or financial situation and is not credit assistance.
Your current home loan
Other debts you may consolidate
Assumptions: each debt is treated as an amortising loan repaid in equal monthly instalments at the rate and term you enter, with no new spending on the card and no fees. Real credit cards use minimum repayments that take far longer and cost more. Change the rates and terms above to match your own statements.
Proposed new loan
No refinancing costs entered. Real refinances almost always have costs — enter the figures from your lender's quote for a realistic comparison.
Monthly repayments
Total interest and fees
Both totals run each debt to the end of its own repayment schedule, so the comparison is like-for-like. Monthly repayment changes and total cost are shown separately because a lower repayment does not always mean a lower total cost.
Comparison
Monthly repayments
Total interest and fees
Results are estimates based only on the figures you enter and the assumptions listed above. They assume the rate stays fixed for the whole term, repayments are made monthly and on time, and exclude ongoing account or package fees, offset benefits, redraw and any lender's mortgage insurance not entered above. Rates change and lender fees vary. For general guidance on refinancing and consolidating debt see ASIC's Moneysmart at moneysmart.gov.au. ChapterTwo Australian Credit Licence No. 531408.
How the estimator works
Estimates are based only on the figures and assumptions you enter. They are not a quote and do not reflect any particular lender's rates or fees.
Input Your Current Loan
Enter your current loan details, including balance, interest rate, and term.
Test an example rate
Enter an illustrative rate and term to see how they change repayments. It is an example, not an offer.
See both sides of the change
Monthly repayment change and total interest plus fees are shown separately, so a lower repayment never hides a higher total cost.
Frequently Asked Questions
Find answers to common questions about mortgage refinancing.
What does it cost to refinance in Australia?
Costs vary by lender and by state. They can include a discharge fee on your existing loan, settlement and application or establishment fees, a valuation fee, state government mortgage registration and discharge fees, break costs if you are on a fixed rate, and lender's mortgage insurance if your equity is below 20%. Ask each lender for a written list of fees and enter those figures into the estimator above — we do not publish a percentage estimate because it would not reflect your loan. ASIC's Moneysmart explains the fees to check at moneysmart.gov.au.
How long does a refinance take?
Timeframes depend on the lender, the complexity of your file and how quickly documents and valuations are returned. Your credit adviser can give you an expected timeframe for the specific lender being recommended once your situation is assessed.
When is refinancing worth considering?
Refinancing may be worth considering when the new loan reduces your repayments or total interest by more than the cost of switching, or when you need a loan structure your current lender cannot offer. Whether it works depends on your rate, remaining term, balance and fees — use the estimator above with your own figures, and remember that a lower monthly repayment achieved by extending the term can still cost more overall.
Will consolidating debt affect my credit report?
Closing high-balance revolving accounts and making repayments on time can help your credit report over time, but applying for credit is itself recorded and outcomes differ from person to person. We cannot promise a score improvement. Moneysmart explains what appears on an Australian credit report.
Can I refinance if I have bad credit?
It may be possible. Some non-bank and specialist Australian lenders assess defaults, arrears and past credit events case by case, usually with a higher rate or lower maximum LVR than a mainstream bank. There is no guarantee of approval, and any rate would be quoted to you in writing after assessment.
What are the risks of consolidating debt into my mortgage?
Consolidating credit cards or personal loans into a home loan converts unsecured debt into debt secured against your home — if you cannot keep up repayments, your home is at risk. It also spreads short-term debt over the life of the mortgage, which can mean paying far more interest overall even at a lower rate. Consolidating personal debt does not make the interest tax deductible; deductibility depends on what the borrowed money is used for, and you should speak with your accountant or the ATO.
Ready to Start Your Refinance Journey?
Once you've run your own figures, speak with a credit adviser about what is actually available for your situation.
Apply Now