Refinance vs stay
Ask your current lender for a written retention offer first. Switching only wins if the rate gap beats discharge, application, valuation, and any break costs over your realistic hold period.
Refinance · Australia
Refinance your home loan — savings, break-even, and a broker check
Break-even calculator below — then compare written retention vs term-for-term refinance.
Refinance savings
Compare monthly P&I repayments when balance and remaining amortising term are unchanged — then see a simple break-even on switching costs. For the trap where lenders reset you to a fresh 30-year term, use the term reset vs term-for-term calculator above. This tool does not model interest-only rollovers, fixed-rate break costs, cashback vesting, or offset balances moving with you.
Discharge, application, valuation, and legal — ballpark only.
Property details (optional)
Add these for LVR on your downloadable report.
Repayment comparison
- Current (approx.)
- $3,765/mo
- After refinance (approx.)
- $3,511/mo
- Monthly difference
- −$254/mo
- Approx. annual saving
- $3,048/yr
Rough break-even on switching costs: 14 months of saved repayments (excluding offset behaviour and fee timing).
Comparison
Hover or tap a bar to highlight — amounts shown on the right and in the callout below.
Interest saved vs current loan: $254 (6.7% less)
Current repayment (per month)$3,765
New repayment (per month)$3,511
Cumulative savings (60 months)
If the monthly difference stayed steady, saved cash flow stacks roughly along this slope — before tax, offset use, or price changes.
≈ $15k cumulative over 60 months (illustrative)
Free download
Get your personalised refinance savings report
On-screen results show your savings headline and break-even band. The emailed PDF adds the full rate comparison, LVR (when you enter property value), switching-cost maths and a formatted summary you can forward to your broker — plus a copy in your inbox.
- Monthly saving (illustration)
- −$254/mo
- Annual saving
- $3,048/yr
- LVR (if value entered above)
- Add property value
General information only · Not credit advice · We also email Bishnu a copy of the lead
General information only. These calculators provide estimates based on the numbers you enter. They do not constitute credit advice, take your full situation into account, or replace a lender's assessment. Fees, eligibility, and actual offers vary. Speak with a broker for guidance tailored to you.
Monthly saving and break-even by rate cut
Term-for-term refinance from 6.89% with 22 years left and $2,000 of switching costs — discharge, incoming application and a valuation, which is a typical cash outlay when no cashback is paid. Same function as the calculator above.
| Loan balance | −0.25 ppsaving / break-even | −0.50 ppsaving / break-even | −0.75 ppsaving / break-even | −1.00 ppsaving / break-even |
|---|---|---|---|---|
| $400,000 | $6133 mo | $12117 mo | $18112 mo | $2409 mo |
| $500,000 | $7627 mo | $15214 mo | $2269 mo | $3007 mo |
| $600,000 | $9222 mo | $18211 mo | $2728 mo | $3606 mo |
| $700,000 | $10719 mo | $21210 mo | $3177 mo | $4215 mo |
| $800,000 | $12217 mo | $2439 mo | $3626 mo | $4815 mo |
| $1,000,000 | $15314 mo | $3047 mo | $4535 mo | $6014 mo |
The term-reset figure the monthly saving hides
Same $700,000 loan, dropping from 6.89% to 6.29%. Keeping the remaining 22 years saves $254 a month. Resetting to a fresh 30-year term saves another $574 a month on top — and costs about $263,979 in extra interest because you just added 8 years. The lower repayment is not a saving. It is a longer loan.
Planning estimates only — not a rate quote. Break-even ignores the value of a cashback, a break cost on a fixed loan, and the effect of resetting the term. Ask for those three figures in writing before you treat a monthly saving as the answer.
About this page
Related refinance pages
- Full refinance service guideBreak costs, cashback overlays, valuation buffers, and structured FAQs.Open →
- Refinance hubPlayground, calculators, official tools, and blog rollup in one cluster.Open →
- Loan term comparisonCompare 15–40 year terms — repayment and total interest before you refinance or buy.Open →
- Term reset vs term-for-termSee the cost of resetting to 30 years when you refinance.Open →
- Debt consolidationWhen refinance bundles personal debt into home loan structure.Open →
Model monthly repayment change, switching costs, and optional LVR — then download a branded PDF. Estimates only. Deeper cluster: refinance playground, comparison rate guide, switching costs checklist.
Compare before you refinance
Broker refinance work is about scenarios, not rate tables. Use these three comparisons with the calculator above — none of them guarantee a cheaper outcome on your file.
Fixed vs variable
Fixed can lock certainty for a period; variable keeps flexibility and offset behaviour. Break costs on fixed loans can erase a headline cut — confirm the figure with your lender before you commit.
Broker vs bank branch
A bank reviews its own products. A broker can compare retention against multiple lenders, term-for-term pricing, and policy fit — still subject to responsible lending and lender assessment.
Deeper reading: wait vs refinance now, term reset trap, full refinance service guide.
Want your refinance numbers checked against real lenders?
Retention pricing, break costs, and valuation buffers change whether switching is worth it. Send your scenario — replies are usually same business day on business days.
Prefer WhatsApp? Message Azure Home Loans · Full contact form · 0400 77 77 55
Refinance calculator — common questions
How does the refinance savings calculator work?
Enter your current loan balance, existing rate, proposed new rate, remaining term, and estimated switching costs. The calculator compares principal-and-interest repayments on the same balance and term, then estimates monthly and annual savings and a simple break-even period on switching costs. It does not model fixed-rate break costs, cashback clawbacks, offset balances, or term extensions.
What is included in the free refinance savings report PDF?
After you enter your contact details, you receive a branded PDF with your savings headline, rate comparison, optional property value and LVR, and broker contact details. A copy is emailed to you and the broker receives a lead notification.
When is refinancing worth it in Australia?
Refinancing often makes sense when the rate gap is material, switching costs are recoverable within a reasonable break-even window, and your file still meets lender serviceability and LVR policy. Break-even alone is not enough — product fit, fees, cashback conditions, and valuation outcomes matter too.
Does this calculator include fixed-rate break costs?
No. If you are on a fixed rate, ask your current lender for a discharge or break-cost quote before committing to switch. The calculator uses your entered switching costs as a lump sum only.
Should I refinance or ask my bank for a retention rate?
Many borrowers request retention pricing in writing before lodging an external application — see our retention discount email templates on the blog. If the gap after retention is small, switching may not be worth the paperwork and valuation. A broker can compare both paths against your full file.
Is this credit advice or an approval?
No. Calculator and PDF outputs are general information and illustrations only. Lending criteria, assessment rates, and policy vary by lender. Enquire when you want numbers checked against real products.
Go deeper
Topic hubs — refinance, first home, and self-employed reading
Refinance hub
Explore hub →
Model break-even, term-for-term savings, and the 30-year reset trap with your balance and rates — free PDF plan.
First home buyer guide
Explore hub →
Calculators at the top: funds to complete, borrowing power, and 5% · 10% · 20% deposit compare — every state.
Self-employed hub
Explore hub →
Pathway finder, income estimator, and document library — full-doc, alt-doc, accountant letter, BAS, and ECE refinance lanes.
Investor hub
Explore hub →
Investment lending uses rental shading, portfolio debt, and APRA buffers — not just “rent minus repayments”. Model cashflow, loan structure, and illustrative capacity in the playground before you lodge.
Debt consolidation hub
Explore hub →
Consolidation can lower monthly outflows but often extends total interest paid — the trade-off needs to be explicit before you lodge.
Construction loans hub
Explore hub →
Construction files fail when contracts, valuations, and draw schedules do not match lender policy — not when the builder is slow alone.
Rates & fixed vs variable hub
Explore hub →
Headline rates matter less than how long you will keep the loan, offset use, and revert rates after any fixed period.
Pay off faster hub
Explore hub →
Cost-of-living pressure has more Australians looking for practical ways to pay down their mortgage sooner — and most online calculators only model one strategy at a time.
Prefer the full index? Resources home
Free official tools
Trusted calculators & guides (refinance)
These are government and regulator sites — not lender marketing pages. Use them to cross-check numbers, then talk to a broker when you want policy-level answers on your file. Azure Home Loans is not affiliated with these agencies; links open in a new tab where external.
Moneysmart · ASIC
Home loans — Moneysmart (opens in new tab)
ASIC-backed guides on comparing loans, fees, features, and working with brokers.
Open official site →
Moneysmart · ASIC
Switching home loans (opens in new tab)
Step-by-step on discharge, comparison rates, break costs, and what to ask before you switch.
Open official site →
Moneysmart · ASIC
Mortgage calculator (opens in new tab)
Independent repayment and budget illustrations — useful sanity-check before you lodge.
Open official site →
Moneysmart · ASIC
Problems paying your mortgage (opens in new tab)
Hardship rights, talking to your lender, and free financial counselling pathways.
Open official site →
AFCA
Disputes with a lender (AFCA) (opens in new tab)
External dispute resolution if you cannot resolve a complaint with your credit provider.
Open official site →
Who you are dealing with
On refinance work you deal directly with Bishnu Adhikari at Azure Home Loans — retention versus switch maths, not a call-centre queue.
- Broker
- Bishnu Adhikari
- Licensing
- ACR 538895, auth. under ACL 390261 (Yellow Brick Road)
- ABN
- 77 676 207 131
How a file usually moves
Step 1
Enquiry
Share goals, income type, and timeline — no obligation to apply.
Step 2
Document plan
We map what lenders usually need for your file shape before you lodge.
Step 3
Lender match
Policy-led comparison across lenders — trade-offs in plain English, not a rate race.
Step 4
Lodge when ready
You decide whether to apply. Responsible lending assessment still applies.
Responsible lending
Credit assistance is subject to assessment, verification, and lender policy. We do not guarantee approval, savings, eligibility for any scheme, or a “best rate”. General information on this site is not personal credit advice — about the broker · apply pathway.
Quick check
Am I paying too much?
Enter your loan balance and current rate for an indicative saving band — lighter than a full refinance model. Not a quote; book a review when you want retention vs external lenders checked on your file.
Indicative saving band
$98 – $233/mo
- Rate band (illustration)
- 5.85% – 6.20%
- Repayment could land around
- $3,540 – $3,675/mo
Ran the numbers — ready for a retention vs switch comparison?
Bishnu Adhikari compares lenders to your file. Call 0400 77 77 55, WhatsApp, or send an enquiry.
Prefer the phone? 0400 77 77 55 — direct line to Bishnu Adhikari.