You could qualify for a better rate.
Compare Interest Rates
Compare current interest rates to your existing one. Even a small drop can lead to big long-term savings on your home loan.
Understand Your Break-Even Point
Work out how long it will take to recover the costs of refinancing. Make sure you’ll stay in the property long enough to benefit.
Factor in Refinancing Costs
Consider legal fees, discharge penalties, valuation, and lender fees when assessing whether refinancing will actually save you money.
Review Your Loan Term
Think about whether to shorten or extend your term. This impacts your monthly repayments and the total interest you’ll pay over time.
Clarify Long-Term Goals
Refinancing can free up equity for renovations, debt consolidation, or investing. Match the loan to your future plans—whether you’re selling, staying, or retiring.
Access Your Equity
Use an equity calculator to estimate what’s available. If you’re around 80% LVR, you might qualify for a sharper rate. You could also cash out for improvements or other purchases!
Your equity, made simple
Property Details
Your Available Equity
Disclaimer: We’ve done our best to make this calculator is accurate, but the results are just a guide. It’s not a quote or a loan pre-approval. Calculation is based on (property value x .80 – loan amount). This represents the available equity you could potentially cash out for other use or leverage for other purchases. If you want to know more, feel free to get in touch!
Find My Mortgage was amazing to deal with through the whole process of refinancing my loan. They not only got me a much better deal than my previous lender could offer but they did it efficiently and professionally. Highly recommended.
Craig Jones | Find My Mortgage customer
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Frequently Asked Questions
Why should I consider refinancing my home loan?
Refinancing can help you secure a lower interest rate, reduce monthly repayments, access equity, or consolidate debts.
How much can I save by refinancing?
The savings depend on your current interest rate, loan balance, and the new loan terms.
Even a small rate reduction can save thousands over the life of your loan. A broker can run a comparison to show your potential savings.
Are there any fees or costs when refinancing?
Refinancing may involve exit fees from your current lender, application fees, valuation fees, and settlement costs with the new lender.
It’s important to compare these costs against potential savings to ensure refinancing is worthwhile.
Can I access equity when refinancing?
Yes. If your property has increased in value and/or you have paid off a heap off your loan, you may be able to access additional funds for renovations, investments, or debt consolidation.
Equity access depends on your current loan balance, property value, and lender criteria.
How do I choose the best refinancing option?
Look at interest rates, loan features, flexibility, fees, and customer service when choosing a new loan.
A broker can help compare multiple lenders and products, showing which option aligns best with your financial goals.