Refinance calculator
Could refinancing save you money?
Refinancing moves your home loan to a lower rate or better structure, so each repayment costs less interest. This calculator shows your indicative monthly saving, the break-even point after switching costs, and your lifetime saving. Enter your numbers below, then book a free rate health check with a Perth broker.
Indicative only. Not credit assistance. The new rate and switching costs are indicative and not a quote. Assumes both loans run over the same remaining term. Real savings depend on your actual rate, fees and loan structure. [TBC] Confirm switching costs and any cashback with a CLS broker.
The numbers
What does refinancing actually save?
Refinancing saves money when the lower rate cuts your repayments by more than the cost of switching. The monthly saving is the gap between your old and new repayments. The break-even point is how long it takes that saving to repay the switching costs. After break-even, the saving is genuinely yours.
| Measure | Your result |
|---|---|
| Current repayment (monthly) | $0 |
| New repayment (monthly) | $0 |
| Monthly saving | $0 |
| Break-even point | $0 |
| Lifetime saving (after costs) | $0 |
Straight answer
Does a rate health check cost anything?
No. A rate health check with Central Lending Solutions is free, and most clients pay us no fee because the lender pays our commission when your loan settles. We are bound by the Best Interests Duty, in force since 1 January 2021. We will tell you honestly whether switching is worth it once costs are in.
Common questions
Refinance calculator FAQs.
How does refinancing save money?
Refinancing moves your loan to a lower rate or better structure, so each repayment costs less interest. The monthly saving is the difference between your old and new repayments. Over the life of the loan that adds up, but you must clear the switching costs first, which is the break-even point.
What is the break-even point on a refinance?
The break-even point is how many months of saving it takes to recover the cost of switching, such as discharge and new lender fees. If switching costs $1,200 and you save $300 a month, you break even in four months and everything after that is genuine saving.
What costs come with refinancing in WA?
Refinancing can involve a discharge fee from your current lender, settlement and registration fees, and sometimes a new lender application fee. Some lenders offer cashback to offset these. A Perth broker totals the real costs so the break-even in this calculator reflects your actual situation.
Is refinancing always worth it?
Not always. If the switching costs are high or you plan to sell soon, the saving may not justify it. We will tell you honestly whether switching is worth it once costs are in, and we watch your rate so you do not have to. The figures here are indicative only.
Here to help
Get a free rate health check.
Book a free chat with a named Perth broker. We will check your rate against more than 30 lenders and tell you honestly whether switching is worth it. Most clients pay no fee.
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