Could a sharper rate actually save you money?
A lower rate looks good on paper, but the real question is what it does to your repayment, how much interest you save over the years you've got left, and whether the saving covers the cost of switching. This tool compares your loan today against a sharper rate over the same remaining term, then shows the monthly saving, the total interest saved, and how long it takes to break even on the switching costs.
This is general information only and an indicative estimate. Not credit assistance, a loan offer, or a quote. Figures are estimates and may differ from a lender's assessment.
Your loan today
Important information
This is general information only and an indicative estimate, not credit assistance, a loan offer, or a quote. Figures are estimates and may differ from a lender's assessment. Consider your circumstances and seek advice before acting.
The saving shown compares your loan against a sharper rate over the same remaining term — it does not account for any change in loan type (for example switching to interest-only), offset or redraw arrangements, lenders mortgage insurance, fixed-rate break costs, or cashback offers. Switching costs vary between lenders and may include discharge, settlement and government registration fees. The comparison rate and default switching cost used here are typical figures, not a particular lender's terms. Rates and figures are current as at 6 June 2026 and you should verify them with a lender before relying on this estimate.
LenderBridge is pursuing its credit licence pathway. Nothing here is, or should be taken as, licensed credit assistance.
Should you refinance your home loan?
Refinancing means switching your existing loan to a sharper rate or a better-suited product. This calculator shows what a lower rate could save you each month, the total interest saved over your remaining term, and how long it takes to break even on the switching costs.
Whether refinancing stacks up depends on your current rate, balance, fees and how long you plan to keep the loan.
Common questions
When is refinancing worth it?
Generally when the interest you'd save over the time you'll keep the loan comfortably exceeds the switching costs, and you're not resetting a nearly-paid loan back to 30 years. The break-even figure above is the number to watch.
What costs are involved in refinancing?
Typically a discharge fee from your current lender, an application or settlement fee with the new lender, and possibly a fixed-rate break cost. Some lenders offer cashback to offset these.
Will refinancing hurt my credit score?
Each formal application creates a credit enquiry, so applying to several lenders at once can have a short-term effect. This calculator makes no enquiry.
General information only. This is not credit assistance, a credit quote or an offer of finance, and the figures are indicative estimates — confirm with a lender before you rely on them.