Current loan
Rate, repayment, remaining term, fixed or variable status, offset use, balance and property value.
Refinance
Check your current loan before you refinance.
Start with the current loan, then choose the refinance question that actually needs review. The answer may be reprice, restructure, prepare documents, wait, stay put or compare lenders.
- Better rate
- Lower repayments
- Use equity
- Fixed rate ending
A refinance review starts with the loan you already have. Check the reason for changing, the current lender's response, likely switch costs, LMI risk, fixed-rate break costs, features, documents and the remaining term before deciding whether to compare lenders.
Choose the refinance question.
Use the hub as a router. Goal pages help with the reason for changing; before-changing pages help with timing, process, costs and preparation.
Review goals
Rate reviewBetter rateCompare the rate with fees, features, switch costs and comparison-rate wording before chasing the lowest headline number.Repayment reviewLower repaymentsCheck whether the monthly repayment falls because of the rate, the structure, or a longer loan term.Equity reviewUse equity carefullyEstimate usable equity, then check LVR, valuation, repayments, purpose and lender policy.Debt reviewRestructure debtsLower monthly repayments can cost more over time if short-term debts are stretched across a home loan term.Fixed-rate reviewMy fixed rate is endingCheck the revert rate, refix, split, variable and refinance options before the fixed period ends.Loan reviewFull loan reviewStart with the current rate, repayments, term, features, equity, costs, documents and plans.
Before changing
Before changingHow refinancing worksUnderstand the process before comparing a new lender or same-lender change.TimingWhen should I refinance?Use trigger-versus-wait checks before turning a concern into an application.CostsCheck refinance costsInclude switch costs, break costs, LMI risk and break-even timing.ExpiryFixed rate endingReview revert, refix, variable, split and refinance paths before expiry.DocumentsDocuments neededPrepare ID, income, current loan, debt and property records safely.ReviewAnnual loan reviewRun a yearly health check without assuming the answer is switching.
Start with proof, not pressure.
A lower rate, lower repayment or cashback offer is only useful after the current loan and switching trade-offs are visible.
Reason to review
Rate drift, repayment pressure, equity plans, fixed-rate expiry, debt restructuring or a yearly health check.
Cost and timing
Switch costs, break costs, LMI risk, feature trade-offs, cashback conditions and how long you may keep the property.
Estimate before you compare.
Calculators are estimates only. Use them to understand the question, then check current-lender pricing, costs, documents and lender policy before relying on a refinance result.
CalculatorRefinance savings calculatorCompare the current loan with a new-rate scenario and see whether switching costs may be recovered.Best for: Deciding whether a refinance is worth a broker review before starting lender work.Estimate only. A broker still needs to check lender policy and fit.Open calculator
CalculatorRepayment calculatorEstimate repayment changes before a broker checks lender policy, structure and total interest.CalculatorEquity calculatorEstimate total and usable equity before relying on funds for renovations, investment, debt restructuring or another property.CalculatorOffset calculatorEstimate how money in offset may affect interest before comparing the cost and features of a loan.
Common questions
Common refinance questions.
Is refinancing only about getting a lower rate?
No. Rate matters, but the review should also compare costs, loan term, features, lender policy, documents, equity and what you want the loan to do next.
Can the website tell me whether I should refinance?
No. It can help you prepare the question. A broker can then review your situation, lender policy and costs before you decide.
What should I have ready before a refinance call?
Useful starting points include current loan details, recent statements, income documents, debt details, property estimate, repayment goal and any fixed-rate expiry date.
Should I ask my current lender first?
Often, yes. MoneySmart says to ask your current lender for a better deal before switching, then compare that response against costs, features and other options.
Can a refinance review end with staying put?
Yes. Staying put can be sensible if the current loan still fits, costs outweigh the benefit, documents are not ready, or a current-lender reprice solves the issue.
Why do refinance costs matter?
Switch costs, fixed-rate break costs, LMI risk, government charges and feature trade-offs can reduce or remove the benefit of a lower advertised rate.
What if I am under repayment pressure now?
Speak with your lender early about hardship support as well as reviewing options. If repayments are already urgent or behind, support should not be delayed.
What does a broker check?
A broker can compare current-lender repricing, lender policy, documents, valuation risk, fees, features, switch costs and whether staying put, waiting or switching is the cleaner next step. Licensed mortgage brokers owe you a best interests duty when suggesting a loan, and you can ask how they are paid.
Sources and further reading
General information only. It does not account for your personal circumstances. Guidance on this page was checked against official Australian sources:
- MoneySmart, Switching home loansChecked 4 July 2026
- MoneySmart, Pay off your mortgage fasterChecked 4 July 2026
- MoneySmart, Mortgage switching calculatorChecked 4 July 2026
- MoneySmart, Using a mortgage brokerChecked 4 July 2026
Broker review
Send the current-loan details for review.
Share the goal, timing and current-loan basics so a broker can focus on rate, repayments, costs, equity or fixed-rate expiry. General information and intake only. Any lending is subject to lender assessment.