The home loan refinancing gold rush that could save you up to $25,000.

 

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If you're paying more than 4.00% interest on your home loan, you're probably paying too much!

Unhappy with your current home loan? Then it's time to look at refinancing. It's an increasingly popular option: more than a third (35%) of all mortgages organised in June 2015 involved refinancing, up from just 32% the year before, according to ABS Housing Finance data.

Why is refinancing on the rise? One obvious reason is that many banks have put up their interest rates for borrowers, despite the fact that official rates have been unchanged for six months. But that doesn't mean you can't get a good deal: you just have to look around and compare your options. On a $300,000 loan over 30 years, a difference of 0.6% in interest rates can mean an extra $36,000 extra in your pocket over the lifetime of the loan.

What does refinancing involve?

Refinancing moves moving your mortgage from one lender to another to access better rates or features. Typically this will involve changing providers, but you can also refinance with your existing bank. Our detailed guides will help you with each stage in the refinancing journey:

Compare home loans available for refinancing

Below is finder's refinancing home loan comparison table, complete with up-to-date rate information from a range of lenders. Enter the amount of your current mortgage and you can see what your repayments would be with different lenders. To find out more about a loan from a particular lender click on the "go to site" button to lodge an enquiry or begin an application.

Compare home loans

Rates last updated April 22nd, 2018
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Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.64%
3.66%
$0
$0 p.a.
80%
Pay no ongoing fees and enjoy a flexible repayment schedule, including the ability to make unlimited additional repayments without penalty.
3.59%
3.60%
$0
$0 p.a.
90%
Borrow up to 90% of the value of your property and pay no ongoing fees with this loan from a leading international bank.
3.58%
3.58%
$0
$0 p.a.
70%
A low interest rate home loan with no application or ongoing fees.
3.69%
3.73%
$600
$0 p.a.
95%
Variable rate home loan from one of the big 4 banks. Available with just a 5% deposit.
3.88%
4.89%
$0
$395 p.a.
95%
Low deposit home loan. Enjoy flexible repayment options while paying limited fees.
3.69%
3.69%
$0
$0 p.a.
90%
Get a special discount for a limited time when you open an IMB Transaction Account. Face-to-face consultations available in NSW and ACT.
3.68%
3.69%
$0
$0 p.a.
95%
This variable rate loan offers flexible repayments and a redraw facility. Available with a 5% deposit.
3.52%
3.53%
$0
$0 p.a.
80%
Go from application to approval in as little as 20 minutes with a variable rate loan from this innovative online lender. Add a 100% offset account for $10 a month.
3.64%
3.67%
$0
$0 p.a.
80%
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments.
3.49%
3.49%
$0
$0 p.a.
90%
Get a competitive variable rate with low fees. Add a 100% offset account for $10 a month. Available with a 10% deposit.
3.65%
3.66%
$0
$0 p.a.
90%
Offset up to $50,000 of the combined balances of your CUA Everyday Accounts and save on interest.
3.69%
3.69%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees. Refinance to a UBank loan and you could get $1,000 in your USaver account (offer conditions apply).
3.65%
3.66%
$0
$0 p.a.
80%
This special rate loan comes with no application or ongoing fees, and offers a flexible repayment schedule.
3.54%
3.58%
$0
$0 p.a.
80%
Eligible borrowers can get $1,200 cashback on this loan with a 100% offset account and a redraw facility.
3.77%
3.81%
$200
$0 p.a.
95%
A simplified mortgage with a low interest rate and a redraw facility.
3.64%
4.03%
$0
$395 p.a.
80%
New borrowers or refinancers from another lender get a discounted rate with this package loan.
3.62%
3.62%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule. Refinance to a UBank loan and you could get $1,000 in your USaver account (offer conditions apply).
3.73%
3.73%
$0
$0 p.a.
80%
Get a 100% offset account and pay no application or ongoing fees on this special variable rate for owner-occupiers.
3.99%
3.74%
$0
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying, and pay no application fee.
3.74%
3.74%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule.
3.64%
3.64%
$0
$0 p.a.
70%
Get a discount for keeping your LVR at 70% or below with this innovative online lender.
3.72%
3.74%
$0
$0 p.a.
80%
Save on interest by taking advantage of a 100% offset account along with no ongoing fees or application fees.
3.94%
3.57%
$0
$0 p.a.
80%
Apply online for this fixed rate, low-fee loan with redraw facilities and an optional offset account.
3.89%
3.91%
$0
$0 p.a.
80%
Borrow up to $2 million with this low investor rate. To get this discounted rate you must package the loan with your owner-occupier mortgage.
3.70%
4.13%
$0
$395 p.a.
90%
Package your loan with an eligible credit card for discounts on rates and fees, and get a 100% offset account.
3.65%
4.84%
$0
$395 p.a.
90%
Pay no application fee for this package loan, and get access to a redraw facility. Face-to-face consultations available for NSW and ACT customers.
3.78%
3.78%
$0
$0 p.a.
80%
Pay no application or ongoing fees and get access to a free redraw facility with this innovative online lender.
4.19%
3.65%
$0
$0 p.a.
80%
Fast, 100% online application process. Very limited fees. Optional offset account (with fee).
3.97%
4.02%
$445
$0 p.a.
90%
Buy a home with just a 10% deposit with this variable rate loan. Face-to-face consultations available for NSW and ACT customers.
4.09%
4.12%
$0
$0 p.a.
90%
Access a fee-free offset account and a special interest rate for investors.
3.69%
4.11%
$0
$395 p.a.
80%
Save on interest with a 100% offset account and save on other ME products with this package loan.
3.97%
3.97%
$0
$0 p.a.
90%
A variable rate loan with a 100% offset account. Available with a 10% deposit.Face-to-face consultations available for NSW and ACT customers.
3.89%
4.87%
$0
$0 p.a.
90%
Borrow up to 90% of the value of the property you're buying and pay no application or ongoing fees.
4.14%
4.81%
$0
$0 p.a.
80%
Pay no application fees and access a fee-free redraw facility with this fixed rate loan.
4.19%
4.19%
$0
$0 p.a.
90%
100% offset account, unrestricted additional repayments and no monthly account keeping fees
3.89%
3.92%
$0
$0 p.a.
80%
A low-fee line of credit loan from an online lender. Unlock the equity in your home and make interest-only repayments with a competitive rate.
3.62%
3.62%
$0
$0 p.a.
95%
Free home and contents insurance for 1 year. Terms and conditions apply. QLD residents only.
3.99%
4.86%
$0
$0 p.a.
80%
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.85%
4.05%
$0
$350 p.a.
95%
This high LVR fixed rate loan allows you to borrow up to 95% of the value of the property you're buying.
4.09%
4.11%
$0
$0 p.a.
80%
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
3.64%
3.67%
$0
$0 p.a.
80%
A mortgage with a competitive variable rate, limited fees and plenty of flexibility.
3.69%
4.06%
$0
$349 p.a.
90%
Package your loan with other AMP products and save on rates and fees.
3.68%
3.83%
$0
$10 monthly ($120 p.a.)
80%
Get a 100% offset account to save on interest charges, and pay no application fee.
3.69%
3.71%
$0
$0 p.a.
80%
A great interest rate home loan offer with unlimited redraw and unlimited extra payments.
3.64%
3.78%
$0
$10 monthly ($120 p.a.)
80%
Earn Velocity Points on your mortgage (for a limited time, subject to eligibility requirements). Plus, access a 100% offset account to save on interest.
4.09%
4.12%
$0
$0 p.a.
95%
Buy a home with just a 5% deposit and get flexible repayment options and a redraw facility.
3.69%
3.69%
$0
$0 p.a.
70%
Pay no application or ongoing fees and get a flexible loan with the ability to split up to 6 times.
3.99%
4.03%
$0
$0 p.a.
95%
Buy a home with just a 5% deposit and pay no application or ongoing fees.
3.59%
4.42%
$600
$0 p.a.
95%
Get a 1% discount for the first two years of your loan and pay no application or ongoing fees.
3.68%
3.69%
$0
$0 p.a.
90%
Get one free online redraw per month and pay no ongoing fees. Application fees are waived for loans above $150,000.
3.79%
3.79%
$0
$0 p.a.
80%
A competitive variable rate for owner-occupiers who've saved a 20% deposit. Limited fees.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Lock in a fixed interest rate term for repayment certainty.
3.89%
4.97%
$0
$395 p.a.
95%
Get discounts on a range of Commonwealth Bank products and enjoy the option of fee-free extra repayments during the fixed term.
3.89%
4.96%
$0
$395 p.a.
95%
Refinancers can get $1,500 cashback. Conditions apply. Package your home loan with a Qantas rewards earning Amplify credit card.
3.89%
4.88%
$0
$395 p.a.
95%
Refinance from your existing loan and get a $1,250 rebate. Terms and conditions apply. Plus get discounts on a range of Westpac products.

Compare up to 4 providers

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4 Responses

  1. Default Gravatar
    rolfDecember 30, 2015

    If I look at the home loan repayment at the top they are all under $750 per month that’s pretty cheap if I consider I pay $1200 in rent per month yet I have no chance to get a home loan because my income is only $650 a week it doesn’t make sence to me

    • Staff
      JodieDecember 31, 2015Staff

      Hi Rolf,

      Thank you for reaching out to finder.com.au a financial comparison website.

      Different lenders have different assessment criteria when they assess whether to offer a home loan to a borrower, there are a few options for borrowers with lower incomes. The first step if you really want to review your ability to borrow is to use our borrowing capacity calculator to assess how much you may be able to borrow or speak to a mortgage broker who can advise you on you lending options.

      There are many lenders out there that are happy to offer loans to borrowers with lower incomes you can compare some of their loans on this page. Another option you may like to consider is having a family member go guarantor for you this will benefit you when the bank assesses your risk as a borrower they will see you as less of a risk we have a range of guarantor loans to compare here.

      Don’t feel like there is no option as there are options out there if you want to purchase a home you just need to do some research, we have multiple pages on all the options available to get a home loan in Australia so have a browse of our website and see what information is out there.

      Regards
      Jodie

  2. Default Gravatar
    AlinaDecember 5, 2015

    Hi,

    Looking for construction home loan. 80-85% LVR. I have land purchased, approximately 25% equity on the land. Looking to refinance the land and borrow additional funds to construct. Preferably as owner builder, however I can get a fix building contract as well.

    Thank you.

    Alana

    • Staff
      BelindaDecember 7, 2015Staff

      Hi Alana,

      Thanks for your enquiry.

      You can use our comparison table here to review different construction and owner-occupier home loans.

      To discuss the structure of the mortgage or your future refinancing options for the land, you can fill out the form to speak with a mortgage broker.

      Thanks,
      Belinda

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