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Compare your existing home loan with a new refinance scenario and understand your potential repayment and interest savings.
Thinking about refinancing your existing home loan? The Believe Finance Refinance Calculator helps you estimate how much money you could potentially save by switching to a lower interest rate or a more suitable mortgage product.
Simply enter your current loan balance, interest rate, remaining loan term, and compare it with a new loan scenario. Within seconds, you'll see estimated monthly, fortnightly, and weekly repayments, along with potential savings over the life of the loan.
Many Australians refinance to reduce repayments, consolidate debts, access equity for renovations or investments, or pay off their mortgage sooner. Our refinance calculator makes it easy to compare different interest rates and loan terms before making an informed decision.
At Believe Finance, our mortgage specialists compare hundreds of loan products from Australia's leading lenders to help you secure a better deal. Whether you're refinancing for a lower rate, flexible features, or improved cash flow, we're here to help.
Use our free refinance calculator today and discover how refinancing could improve your financial future. Speak with Believe Finance to receive personalised refinancing advice and find the right solution for your individual circumstances.
| Month | Current Balance | New Loan Balance | Current Payment | New Payment | Monthly Difference |
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Compare your current home loan against a proposed refinance option to better understand repayment changes, interest costs, potential savings, and the impact of refinance fees.
Refinancing means replacing your existing home loan with a new loan. Borrowers commonly refinance to access a lower interest rate, improve loan features, reduce repayments, access equity, consolidate debts, or pay their mortgage off sooner.
A lower rate can reduce repayments, but it is important to also consider the remaining loan term, loan features, refinance costs, redraw options, offset accounts, flexibility, and whether the new loan suits your long-term financial goals.
Refinancing may involve discharge fees, settlement costs, valuation charges, application fees, legal costs, or government charges. The calculator subtracts the refinance costs you enter from your potential interest saving to show an estimated net benefit.
Refinancing to a lower rate or longer loan term may reduce your regular repayments. This can improve monthly cash flow, although extending a loan term may increase the total interest paid over time. Compare several scenarios before deciding.
Every borrower has different financial needs. A Believe Finance broker can compare suitable loan products, explain potential refinance costs, and help you decide whether refinancing is the right move for your situation.
Compare your current loan and new scenario above, then speak with Believe Finance for personalised refinance guidance.
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