We’ve Helped Over 150+ First Home Buyers
We’ve Helped Over 150+ First Home Buyers
Find out whether refinancing to a new lender could save you money over the life of your loan.
Find out whether refinancing to a new lender could save you money over the life of your loan. This calculator helps you compare your current rate against a new one and see the potential difference in repayments and interest.
* Update version: January 2025
Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product.
The information contained in this website is of a general nature and does not take in to account your personal needs and requirements. The figures shown in the calculators do not constitute an offer for finance. Lender policy and conditions, fees and charges will apply.
The information provided by the calculator is intended to provide illustrative examples based on the stated assumptions of your input. Results are a guide only and do not constitute financial advice or a guarantee of an outcome. You should always discuss your individual circumstances with a representative of Houses For Heroes.
Refinancing means replacing your existing home loan with a new one, either with your current lender or a different lender.
People choose to refinance for a range of reasons, including securing a lower interest rate, accessing equity for renovations or other purchases, improving loan features, or consolidating existing debts. It can be a useful way to ensure your home loan continues to suit your needs as your situation changes.
Savings depend on your current interest rate, the rate you could access, your remaining loan balance, and how long you have left on your loan. Use the calculator above for an estimate, or speak with our team for a comparison based on your actual loan.
Yes. Switching lenders can involve discharge fees on your existing loan, application fees with the new lender, and in some cases break costs if you are on a fixed rate. Houses for Heroes can help you weigh up whether the savings outweigh the switching costs.
It’s worth reviewing your home loan at least every one to two years, or whenever there are significant changes to interest rates or your personal situation.
Many Australians stay on the same loan for years without realising a more competitive option may be available. Regular reviews can help ensure your loan remains suitable and that you’re not paying more than you need to.
At Houses for Heroes, all of our clients receive a complimentary home loan review after the first 12 months of settlement, and every six months thereafter. Keeping you informed and up to date is a key part of our service, and a big reason why so many of our clients speak highly of their experience with us.
Yes, and refinancing is often a good time to review how your equity is working for you. Depending on your position, you may be able to access equity for renovations, an investment property deposit, or debt consolidation while also securing a more competitive rate.
Each formal loan application involves a credit enquiry, which can have a minor short-term impact on your credit score. Our team can do a preliminary assessment of your position before any formal application is submitted.
Book a free call and Dan will compare your current rate against what is available today. If there is a better option, we will find it. If not, you will know either way.
Free. No credit check. No pressure to proceed.
