Our refinance calculator weighs the savings from switching against the fees involved, so you know whether refinancing is actually worth it, not just whether the rate looks good.
Refinancing usually comes with costs on both ends, discharge or exit fees from your current lender, application and settlement fees with the new one, a valuation fee, and sometimes Lenders Mortgage Insurance again if your equity has dropped. Set against that are the savings: a lower rate, lower repayments, or a cashback offer from the new lender.
Enter your current loan details, the new rate you’re considering, and the estimated switching costs, and this refinance home loan calculator works out your break-even point, how long it takes for the savings to cover the costs, along with your total savings over time.
Questions worth sorting out before you refinance.
A tool that compares the costs of switching home loans against the likely savings so that you can see your break-even point and overall benefit, not just a lower headline rate.
Discharge fees from your current lender, application and settlement fees with the new one, a valuation fee, and sometimes Lenders Mortgage Insurance again if your equity is lower than required.
Compare your total savings over time against the total switching costs. If the savings outweigh the costs within a timeframe that suits you, it’s generally worth considering.
It’s the point where your accumulated savings from a lower rate equal what you paid in switching costs. After that point, you’re in front.
Only if your equity in the property is below the new lender’s threshold, typically 80%. It’s worth checking your current equity position before applying.
Most standard variable loans don’t charge exit fees, but fixed-rate loans often have break costs, which can be substantial depending on how much of the fixed term remains.
Not necessarily, some people refinance for other reasons, like accessing equity, consolidating debts, or switching to a lender with better features. A lower rate is common, but not guaranteed.
We compare refinance options across 52+ lenders and help you weigh the real costs against the real savings, so you’re deciding on numbers, not assumptions.
There’s more than one way to cut your loan costs. Explore our other calculators and see what else could work for you.
See your break-even point and total savings, then talk to a broker about whether now’s the right time to switch.
Credit Hub Australia
Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.
In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.
“Position is for Mortgage broker on commission/contract basis.”
Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.
You will act on leads and existing database as provided and generate sales and ongoing relations.
Actively participate in team meetings and contribute to the overall success of the business
You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.
In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.
Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.
A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.
Self-motivated and capable of working independently, while also thriving in a collaborative team environment.
Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.
Ability to manage multiple tasks, stay organized, and work reliably without supervision.
A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.
At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:
Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group.
If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.
