Mortgage Refinance Calculator

What is a Mortgage Refinance Calculator?

A Mortgage Refinance Calculator helps borrowers estimate the potential savings and costs of switching home loans. By comparing your current loan details with a new loan, it calculates possible savings on interest, changes in monthly repayments, and overall financial impact.

Key Features

Tracks loan details like balance, interest rate, and term.




Compares savings from lower rates or shorter terms.




Includes costs like exit fees, break costs, and new loan setup fees.




Allows scenario planning to explore various refinancing options.

Why It’s Essential for Australians

The calculator accounts for Australian-specific factors such as:

Tracks loan details like balance, interest rate, and term.




Break Costs: Fees for leaving fixed-rate loans early.




Establishment Fees: Upfront charges for new loans.




Comparison Rates: Reflecting true loan costs.

How Does a Mortgage Refinance Calculator Work?

A Mortgage Refinance Calculator analyzes your current loan and compares it to potential new options, providing clear insights into whether refinancing is worthwhile.

Inputs Neededs

Current Loan Balance: What’s left to repay.




Interest Rate and Term: Your current rate and remaining loan term.




Proposed New Loan Details: Includes the new interest rate, term, and any fees.

Outputs Provided

Interest Savings: Total savings from a lower rate or shorter term.




Repayment Changes: Adjustments to monthly payments.




Cost vs. Benefit: Weighs refinancing fees (e.g., break costs, application fees) against long-term savings.

Customizable Scenarios

Test different interest rates, loan terms, and fees.




Tailor calculations to see how refinancing aligns with your goals.