FREE PLANNING TOOLS
Refinance comparison calculator
Compare repayments, switching costs and remaining debt before changing your home loan.
Refinance comparison
Change the example figures to explore your own scenario. Results update as you type.
View the result breakdown
Calculations stay in this page. Your figures are shared only if you choose to include them with an enquiry.
Assumptions, rates and methodology
An indicative scenario, not approval, a quote or personal financial advice. Rates remain constant. Confirm your circumstances, eligibility and current costs with an appropriately authorised professional.
Rates effective 2026-07-01 to 2027-06-30 · Last reviewed 2026-09-21.
Read the full methodologyGeneral information only, not financial advice. Results are estimates based on the assumptions you select.
Is refinancing worth the switch?
Compare the cost of changing loans as well as the advertised interest rate.
Compare the same debt first
Start with your current balance and remaining term. For the clearest first comparison, give the new loan the same term. Enter rates that apply to your own proposed scenario, not a rate that depends on conditions you have not checked. The calculator uses a constant-rate monthly model. Actual loans can have variable rates, introductory periods and daily interest, so the estimate is a comparison rather than a lender quote. The separate home loan calculator explores dated daily cashflows in more detail.
Include the cost of leaving and joining
Switching can involve discharge fees, application fees, valuations, legal work, registration fees, fixed-rate break costs and new lenders mortgage insurance. Add the costs that apply to your transaction. If they are financed, the new principal rises; if paid upfront, your available cash falls. A cashback is only useful if you meet its conditions and receive it at the assumed time. The model includes the configured cashback month, rather than treating a later payment as cash available immediately.
Repayment savings and interest savings are different
A lower monthly payment can come from a lower rate, a longer term or both. The initial interest difference is not the same as the reduction in the scheduled repayment. The lifetime result compares modelled interest and fees, includes switching costs once and deducts the cashback received. It assumes you retain each loan for its modelled duration at the selected constant rate. That is useful context, but a shorter comparison horizon may be more relevant if you expect to move or refinance again.
Look beyond the first break-even month
Cashflow break-even is the first month cumulative payment savings and cashback recover upfront costs. Economic break-even also compares the debt still outstanding. A new 30-year term can improve cashflow while leaving more debt than the old loan after five years. That is why the tool shows both benefits at your selected horizon. A first crossing is not a guarantee that the advantage stays positive later, particularly when terms differ. Review the schedule and the end-of-horizon balances together.
Offsets, fees and loan features
Enter the offset balance expected to remain available under each loan. The model holds those balances constant and keeps offset cash separate from principal. It does not treat money in the offset as a loan repayment. Account fees, package costs, redraw conditions, fixed-rate restrictions and offset eligibility can affect the practical value of a loan. Avoid using an offset balance that will be spent soon. A rate comparison alone cannot tell you which features you need or whether a proposed lender will approve the application.
Prepare for a refinance conversation
Collect a current statement, the remaining term, current rate, ongoing fees and any exit quote. Ask for the proposed rate, fees, cashback conditions and total loan amount in writing. Consider both keeping the remaining term and retaining your current repayment if a lower rate becomes available. The calculator does not make a credit recommendation or compare a lender panel. You can use the results to organise questions, then ask for advice based on your circumstances. Sharing a scenario with Nest Invest AU is optional.
Further reading
Your questions, answered
Why show two break-even dates?
Cashflow break-even tracks payments and upfront costs. Economic break-even also accounts for the difference in remaining debt.
Can a lower repayment cost more overall?
Yes. Extending the term can reduce monthly repayments but increase total interest. Compare lifetime costs and debt at the same future date.
Are fixed-rate break costs included automatically?
No. Obtain a current quote and include it in switching costs. Break costs can change.
Why can this differ from the daily home loan calculator?
This comparison uses monthly nominal interest. The home loan cashflow calculator uses actual dates and daily interest.