Refinance home loans

Refinancing your home loan is a smart way to get a better deal, pay less interest and get more out of your mortgage. Through Finder you can switch to rates as low as 1.69%.

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Refinancing means switching your current home loan to a new one. You can refinance to get a lower rate and save thousands in interest payments. But you can also refinance your home loan to borrow more money, switch to a more suitable loan type or to access features like an offset account.

You can enter some basic loan details in the fields above to get customised loan results for your situation. Or you can simply compare rates and find a better deal in the table below.

HSBC Fixed Rate Home Loan Package - 2 Year Fixed Rate LVR 80% or below (Owner Occupier, P&I)

1.88 %p.a.

fixed rate

2.86 %p.a.

comparison rate

HSBC Home Loan Offer

$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.
  • Interest rate of 1.88% p.a.
  • Comparison rate of 2.86% p.a.
  • Application fee of $0
  • Maximum LVR: 80%
  • Minimum borrowing: $150,000
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Refinance your home loan today

The table below has competitive fixed and variable rate loans for owner occupiers and investors. Compare and switch to a better deal.
Name Product Interest Rate (p.a.) Comp. Rate^ (p.a.) Max LVR Amount Saved
HSBC Fixed Rate Home Loan Package
1.88%
2.86%
80%
$61,044.54
$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.
Westpac Flexi First Option Home Loan
2.29%
2.72%
95%
$50,287.27
Up to $3,000 refinance cashback.
A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
St.George Fixed Rate Advantage Package
1.84%
3.38%
80%
$61,977.38
Up to $4,000 refinance cashback
Borrowers with 20% deposits or equity can get this competitive fixed rate loan. Refinancers borrowing $250,000 or more can get up to $4,000 cashback (Other terms, conditions and exclusions apply).
UBank UHomeLoan Fixed
1.85%
2.24%
80%
$62,235.86
A competitive fixed rate loan with no ongoing fees. Requires a 20% deposit.
Suncorp Home Package Plus Fixed
1.89%
2.85%
80%
$61,167.02
Lock in a low fixed rate loan for two years and get the annual package fee waived in the first year. Available for borrowers with 20% deposits.
Westpac Fixed Option Home Loan Premier Advantage Package
1.89%
3.46%
95%
$60,772.02
Up to $3,000 refinance cashback.
Eligible borrowers refinancing $250,000 or more can get up to $3,000 cashback. Other conditions apply.
Athena Variable Home  Loan
1.99%
1.99%
60%
$58,479.66
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.
AMP Bank Professional Package Fixed Loan
1.88%
2.84%
80%
$61,434.54
Get a low fixed rate package with no application or settlement fee. Available with a 20% deposit. Other fees and charges apply.
loans.com.au Smart Booster Discount Variable Home Loan
1.99%
2.47%
80%
$57,788.68
Home buyers can get a very low discounted variable rate for the first year. This loan has a revert rate of 2.48%. Requires a 20% deposit. Add an offset account for an additional 0.10% on your interest rate.
Macquarie Bank Basic Fixed Home Loan
2.09%
2.43%
70%
$55,770.62
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit. Refinancers can switch with a convenient digital application.
St.George Basic Home Loan
2.49%
2.51%
80%
$44,577.54
Up to $4,000 refinance cashback
Get this low-rate variable loan with a 20% deposit and pay $0 application fee. Borrow from $150k (or $250k to be eligible for the cashback offer) (terms, conditions & exclusions apply).
ANZ Breakfree Package Home Loan Fixed
2.09%
3.34%
80%
$54,958.1
Pay $0 application fee and make (limited) extra repayments, and this super-low rate is locked in for 3 years.
Well Home Loans Balanced Fixed Home Loan
1.89%
2.18%
90%
$60,334.6
Owner occupiers can get a sharp fixed rate for the first year, plus an offset account. Available with a 10% deposit.
ANZ Simplicity PLUS Home Loan
2.72%
2.76%
80%
$37,757.3
Get a low variable rate from ANZ and save money with $0 application fee, no ongoing fees and free redraw.
UBank UHomeLoan Variable Rate
2.34%
2.34%
80%
$48,903.84
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
HSBC Home Value Loan
2.44%
2.45%
80%
$46,119.67
$3,288 refinance cashback offer
Get a low interest variable rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. If you're refinancing $250,000 or above you can get a $3,288 cashback. Terms and conditions apply.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
1.98%
3.56%
80%
$58,354.37
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
UBank UHomeLoan Fixed
1.99%
2.33%
80%
$58,479.66
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
homeloans.com.au Low Rate Home Loan with Offset
2.14%
2.16%
60%
$54,408.06
A competitive rate with no application or ongoing fees. This loan is not available for construction.
Greater Bank Great Rate Fixed Home Loan
1.69%
3.49%
110%
$66,246.88
Requires a family member to act as guarantor.
Get one of the lowest rates on the market with this fixed rate mortgage and borrow more with help from a family guarantor. NSW, QLD and ACT residents only.
Macquarie Bank Basic Home Loan
2.49%
2.49%
60%
$44,719.6
A competitive variable rate home loan for owner-occupiers. Requires a 40% deposit. Refinancers can switch with a convenient digital application.
Suncorp Home Package Plus Fixed
2.28%
3.15%
80%
$50,189.12
Lock in a low fixed rate loan for three years and get the annual package fee waived in the first year. Available for borrowers with 10% deposits.
IMB Fixed Rate Home Loan
1.97%
2.81%
95%
$57,959.5
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.
Suncorp Back to Basics Home Loan
2.44%
2.45%
80%
$46,119.67
A competitive variable interest rate loan with low fees. The establishment fee is waived if you borrow $150,000 or more.
Well Home Loans Balanced Variable
2.17%
2.2%
80%
$52,723.37
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee.
Virgin Money Reward Me Fixed Rate Home Loan
1.94%
2.77%
80%
$59,231.26
$3,000 refinance cashback.
Buy your home and lock in a low rate for the first two years. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 May 2021 and settle by 27 August 2021.
Bank of Melbourne Basic Home Loan
2.49%
2.51%
80%
$44,577.54
Up to $4,000 refinance cashback
A competitive variable rate loan. Refinancers borrowing $250,000 or more can get up to $4,000 cashback (Other terms, conditions and exclusions apply).
Well Home Loans Balanced Fixed Home Loan
1.95%
2.17%
90%
$58,717.98
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.
homeloans.com.au Low Rate Home Loan with Offset
2.24%
2.26%
90%
$51,666.66
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.
BankSA Basic Home Loan
2.49%
2.51%
80%
$44,577.54
Up to $4,000 refinance cashback
A competitive variable rate loan from BankSA. Refinancers borrowing $200,000 or more can get up to $4,000 cashback (Other terms, conditions and exclusions apply).
CUA Achieve Variable Home Loan
2.35%
2.4%
95%
$47,461.97
Home buyers can get a competitive, low-fee variable rate plus a 100% offset account. Low deposit option available. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs. Eligible refinancers can get a $2,000 pre-paid credit card when they switch to CUA.
BankSA Advantage Package Fixed Home Loan
1.89%
3.43%
80%
$60,425.96
Up to $4,000 refinance cashback.
Fix to a low rate for two years and forget about rate rises. Refinancers borrowing $200,000 or more can get up to $4,000 cashback (Other terms, conditions and exclusions apply).
Bank of Melbourne Advantage Package Fixed Home Loan
1.84%
3.38%
80%
$61,977.38
Up to $4,000 refinance cashback
Get a competitive home loan rate for two years. Requires at least a 20% deposit. Refinancers borrowing $250,000 or more can get up to $4,000 cashback (Other terms, conditions and exclusions apply).
loans.com.au Fixed
1.99%
2.7%
80%
$57,788.68
Home buyers can lock in this low fixed rate for two years. This loan also allows extra repayments. Requires a 20% deposit.
Heritage Bank Fixed Rate Home Loan
2.19%
4.23%
95%
$52,015.55
Get a fixed rate for two years and borrow up to 95%.
Athena Variable Home  Loan
2.09%
2.02%
70%
$55,770.62
A low variable rate for owner occupiers with 30% deposits. No upfront or ongoing fees.
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.28%
3.84%
95%
$50,169.12
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
IMB Budget Home Loan
2.58%
2.64%
80%
$41,037.62
A competitive variable rate for borrowers with 20% deposits saved. Available for NSW and ACT borrowers only.
Well Home Loans Balanced Fixed Home Loan
2.29%
2.29%
90%
$49,409.46
A competitive 3 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.
homeloans.com.au Low Rate Home Loan with Offset
2.69%
2.52%
80%
$39,066.37
A competitive rate with no application or ongoing fee. This loan is not available for construction.
UBank UHomeLoan Fixed
2.14%
2.35%
80%
$54,408.06
A one year fixed rate offer with no ongoing bank fees.
Heritage Bank Discount Variable Home Loan
2.59%
2.64%
80%
$40,824.07
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.
UBank UHomeLoan Fixed
2.14%
2.71%
80%
$54,408.06
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
Heritage Bank Advantage Package Fixed
2.39%
3.15%
95%
$46,954.14
Get a partial offset account and flexible repayments with this package loan.
Athena Variable Home  Loan
2.39%
2.39%
60%
$47,514.42
Investors with large 40% deposits or equity can get this low variable rate. A competitive option for investors looking to refinance.
Well Home Loans Balanced Fixed Home Loan
2.04%
2.17%
90%
$56,278.33
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.
loans.com.au Smart Booster Discount Variable Home Loan
1.99%
2.71%
80%
$57,788.68
If you have an owner occupier loan with loans.com.au you can also get this very low rate variable mortgage for your investment property. Principal and interest repayments. Add an offset account for an additional 0.10% on your interest rate.
Macquarie Bank Basic Fixed Home Loan
2.19%
2.53%
80%
$53,040.06
Borrow up to $750,000 with this basic 3 years fixed rate home loan. Refinancers can switch with a convenient digital application.
St.George Basic Home Loan
2.54%
2.56%
90%
$43,171.24
$2,000 cashback.
With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get a $2,000 cashback (terms, conditions & exclusions apply)
homeloans.com.au Low Rate Home Loan with Offset
2.39%
2.41%
80%
$47,514.42
This investment loan keeps fees low, has a sharp interest rate and comes with a 100% offset account. This loan is not available for construction.
Newcastle Permanent Building Society Real Deal Home Loan
2.59%
2.63%
80%
$41,047.16
$2,000 refinance cashback
$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Bankwest Complete Home Loan Package Variable
2.55%
3.01%
80%
$42,224.86
$2,000 refinance cashback.
Eligible customers who apply to move their home loan to Bankwest by 30 June 2021 can get a $2,000 cashback. To qualify you must refinance a minimum loan amount of $250,000 or more with an LVR of 80% or lower. The loan must be funded by 31 August 2021 (other terms, conditions and exlcusions apply).
IMB Budget Home Loan
2.68%
2.74%
95%
$38,187.43
NSW and ACT customers only. You can get an interest rate discount for a limited time with this competitive variable mortgage.
homeloans.com.au Low Rate Home Loan with Offset
2.59%
2.61%
90%
$41,903.57
Save on interest with a free 100% offset account and buy your property with just a 10% deposit. This loan is not available for construction.
Virgin Money Reward Me Variable Home Loan
2.59%
2.76%
60%
$41,255.02
$3,000 refinance cashback.
A variable rate loan for owner occupiers with a 40% deposit (or equity) borrowing under $500,000. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 28 May 2021 and settle by 27 August 2021.
Bank of Melbourne Basic Home Loan
2.54%
2.56%
90%
$43,171.24
$2,000 cashback
A competitive variable rate loan. Refinancers borrowing $250,000 or more can get a $2,000 cashback (Other terms, conditions and exclusions apply).
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.19%
3.72%
95%
$52,645.06
$2,000 refinance cashback
Enjoy a discounted fixed rate and the ability to package the loan with other financial products. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
IMB Fixed Rate Home Loan
2.35%
3.33%
90%
$47,511.69
NSW and ACT customers only. A 3 years fixed rate investor which allows extra repayments to be made.
Newcastle Permanent Building Society Fixed Rate Home Loan
2.38%
4.11%
95%
$47,792.74
$2,000 refinance cashback
Competitive fixed rate for home buyers.Available with a 10% deposit.$2,000 cashback for eligible refinancers borrowing $250,000 or more.
Well Home Loans Balanced Variable
2.52%
2.55%
90%
$43,021.3
A very low variable interest rate for borrowers with a 10% deposit. Add a 100% offset account for $10 a month. Not available for construction purposes.
Newcastle Permanent Building Society Premium Plus Package Home Loan
2.94%
3.34%
80%
$31,486.78
$2,000 refinance cashback
New borrowers or refinancers can get a discounted rate with this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Virgin Money Reward Me Variable Home Loan
2.5%
2.67%
60%
$43,798.03
A variable rate loan for owner occupiers with a 40% deposit (or equity).
HSBC Home Value Loan
2.54%
2.55%
90%
$43,314.23
A competitive value home loan with no ongoing fee.
Newcastle Permanent Building Society Fixed Rate Home Loan
2.29%
3.94%
95%
$50,287.93
$2,000 refinance cashback
Borrow up to 95% LVR of the value of the property you're buying and pay no ongoing fees. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
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Compare up to 4 providers

Find refinance home loan offers with the Finder App

How to refinance a home loan

Switching is easier than you think. You just need to compare, find a better home loan and then apply for it like any other mortgage. Here are the steps involved in refinancing your home loan:

🔎 Check your interest rate. Look at competitive mortgage rates and see if yours is too high.

📞 Speak to your current lender and ask for a lower rate. Ask for a lower rate; if your lender agrees, you can start saving money immediately without refinancing.

📊 Compare home loan options. If you do decide to switch lenders, look for a loan with a better rate and features you need. Make sure it's a loan type that matches your situation.

🧮 Crunch the numbers. Examine the costs of your new loan, including application and ongoing fees and make sure the new loan really is a better deal. Check your exit costs from your current loan too (there may be a discharge fee or break costs).

📝 Apply for the new home loan. Collect your mortgage documents, submit your application and then wait for approval from the new lender.

🏃‍♀️ Exit your current loan. Notify your current lender and discharge your mortgage. Your new and current lender will take care of the rest.

Refinancing is quite a straightforward process, although it requires quite a lot of paperwork to submit a loan application. If your situation is complicated or unusual, you may want expert refinancing guidance, so you could reach out to a mortgage broker.

Read our detailed, step-by-step refinance guide

How much money can you save by refinancing your home loan?

Refinancing to a lower interest rate will lower your monthly mortgage repayments. Even a small decrease in monthly repayments can add up to thousands of dollars over the length of a home loan.

Using ABS and Finder data, we estimate that the average refinancer could save up to $84,600 over 25 years by switching to a lower rate loan. This is just an estimate, and not a true indication of any one borrower's potential savings.

Here's how we calculated that figure.

How a home loan refinance can save the average borrower $3,384 a year

According to figures from the Australian Bureau of Statistics, 34,272 Australians refinanced their home loans in March 2021. The average loan size refinanced was $441,110.

According to Finder app data the average user inputs a current interest rate of 3.30%, but there are much lower rates available on Finder.

Let's assume a borrower is 5 years into a 30-year mortgage with the details above and decides to refinance. Let's assume their original loan amount was $500,000. The loan principal has shrunk to $441,110 after 5 years. They find a new loan through Finder with a rate of just 2.14% and minimal fees.

Being 5 years into the loan, the borrower refinances to a 25-year term. This way they will repay the loan in the same amount of time (they could refinance to a 30-year term and get even lower monthly repayments, but extending the loan would mean paying interest over a longer time).

Loan details
Original loan amount$500,000
New loan amount$442,831
Original loan term30 years
New loan term25 years
Original interest rate3.30%
New interest rate2.14%
Original monthly repayment$2,189
New monthly repayment$1,907
Savings (monthly)$282
Savings (yearly)$3,384

Now of course this is just an estimate and doesn't take into account your personal circumstances or factors like interest rate rises (you won't be on the same rate for 25 years) and fees. Your own savings could be less than this, or more, depending on your original loan amount, loan term, your current interest rate and the amount of your home loan that remains unpaid when you refinance.

🔥 Hot tip: Save more by refinancing your home loan and keeping repayments the same

Refinancing to a loan with a lower rate saves you money every month, because your repayments are lower. But you can save yourself even more money in the long run by switching to a lower rate and keeping your repayments the same as they were before.

This way, you're basically making extra repayments every month because you're paying off slightly more than you need to. You're paying the same as before but it's paying off your principal faster. Use our extra repayments calculator to see how much you can save.

If your new loan has an offset account you can simply save the extra money there. In this way it functions just like an extra repayment.

There are more benefits to refinancing than just saving money

  • Get more mortgage features. Borrowers may switch to a mortgage because it has features like additional repayments, a redraw facility, portability or offset accounts. These features can help you save on interest repayments or give you more flexibility.
  • Unlock your equity. If you've repaid a substantial amount of your mortgage then this is equity. You can borrow this equity using a line of credit or by refinancing and borrowing more money.
  • Consolidate debt. You can refinance multiple debts into your mortgage and pay it off with a single interest rate. This can help because a home loan rate is lower than a car or personal loan rate. However, paying off a smaller debt over decades by adding it to your mortgage can end up costing you more in interest over time.

Video: Why you should consider switching

How much does refinancing cost?

There are costs involved with refinancing your loan, including lender fees and government charges. They can include:

  • Upfront fees for your new loan. Some lenders charge application or settlement fees while others don't.
  • Valuation fees. Your new lender will value your property during the application. They may charge a fee of around $200-$250, although many cover this fee for you.
  • Discharge fees. Lenders often charge a fee to end a home loan, whether you are refinancing or paying the loan off because the property is sold.
  • Fixed rate break costs. If your current home loan has a fixed interest rate, you may have to pay an exit fee for breaking the loan. This can be thousands (or even $10,000-plus) so be sure to ask your current lender for a break fee before committing to a refinance.
  • Government fees. Refinancers may have to pay two state government fees, one to discharge their old loan and one to register the new one.

Here's a quick example of switching costs in a hypothetical refinance scenario (using government fees from Victoria):

Fee/costAmount
Discharge fee (old loan)$250
Mortgage deregistration fee$110.80
Mortgage registration fee$110.80
Application fee (new loan)$450
Settlement fee$75
Valuation fee (new loan)$220
Title search fee$30
Total refinancing costs:$1,246.60

Learn more about calculating your refinancing costs

When you should not refinance

There are situation where refinancing your home loan may cost you more than the benefits you'll get from refinancing to a cheaper rate loan. Here are some common ones:

Your fixed rate break costs are too high

If the cost of breaking a fixed rate loan is too high, then refinancing may not worth it. Check with your current lender for a better idea of your break costs (it's hard to calculate on your own) and compare this fee against the savings you'll make with the new, cheaper loan.

Your equity is below 20% of the property's value

If you own less than 20% of the property, meaning your equity is less than 20% of the home's total value and your mortgage is worth more than 80% of its value, then you will have to pay lenders mortgage insurance when you refinance. This is payable even if you already paid it on the first home loan. This can be a big cost and sometimes, it can cancel out the financial benefits of refinancing to a cheaper loan.

Your property has lost value

Your equity is determined by your property's value. If you own 20% of a property that you paid $700,000 for, and that property is now only worth $650,000, it's going to be even harder to access equity and refinance. While this is a relatively rare scenario, properties can decline in value. In this situation, you may need to get professional valuation to make sure you have enough equity to refinance.

Your loan amount is small or you're selling soon

If your loan amount is relatively small, then the savings from refinancing might not be worth the hassle. If you're planning on selling within the next six months, then the effort, hassle and cost involved in refinancing could also cancel out any financial rewards.

Read more on this topic

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63 Responses

    Default Gravatar
    TimMay 16, 2019

    Hi,

    I’m after help to get a better interest rate on my home loan my current rate is 4.03%. I’m a bit indecisive in regards to how to go about it. I’m unsure of fees cost to change loan. I’m lost I have to say.

    Regards,
    Tim

      Avatarfinder Customer Care
      JeniMay 18, 2019Staff

      Hi Tim,

      Thank you for getting in touch with Finder.

      You may ask your lender if they can offer better deals than the one you have. Lenders will usually have a number of incentives to retain customers thinking of refinancing, including discounted interest rates and waived fees. If you’re still considering shopping around, you may start comparing refinance home loans. You may use the refinancing calculator to calculate the expected costs. I also suggest that you seek help from a mortgage broker since you’re looking for providers that offer the cheapest rate.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    MaryApril 4, 2019

    How does being over 60 years and semi -retirement impact refinancing for an investment property where the rental income covers the mortgage repayments?

      Avatarfinder Customer Care
      JeniApril 6, 2019Staff

      Hi Mary,

      Thank you for getting in touch with Finder.

      As you know, there is technically no maximum age limit for when an Australian can apply for a home loan – residential or investment property. However, lenders have the responsibility to ensure that they only approve home loans to applicants who can afford the repayments without experiencing financial hardship, so older applicants will find it much more difficult to obtain home loan approval.

      Since you mentioned that you’re over 60 and applying for a home loan, you’ll need to provide a greater amount of information regarding your current and future financial position including the rental income. I also suggest that you seek professional help from a mortgage broker to find out which lenders offer loans suitable for your needs.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    BekimApril 2, 2018

    hi I was just wondering how long is the minimum waiting time before refinancing again?

      Default Gravatar
      ArnoldApril 3, 2018

      Hi Bekim,

      Thanks for your inquiry

      There’s really no limit, at least under the law. Legally, you could close on one mortgage today, then go right out tomorrow and refinance it. Now, how long should you wait before refinancing again? And how soon will your lender allow you to get out of your current mortgage?

      This will vary extensively between lenders. As a practical matter, few lenders are likely to approve you for a new mortgage if you’ve been in your current one for less than a year. Your current lender may also have restrictions on how soon you can get out of the mortgage, usually in the form of prepayment penalties. It would be best to speak with your lender for clarification about this.

      Hope this information helps

      Cheers,
      Arnold

    Default Gravatar
    JacquiMarch 11, 2018

    Hello there!
    I will be 57 years of age in May, am single, working full time, and this would be my first home. My total assets are worth around $75k. I have $25k-$30K deposit total.
    If you could just advise me please of how much property price could I afford? The total apartment price that it.
    Much appreciated
    J

      Avatarfinder Customer Care
      MayMarch 21, 2018Staff

      Hi Jacqui,

      Thanks for your inquiry.

      The amount you can borrow (relative to the price of the property) for a home loan is basically up to the lender based on their assessment of your overall financial situation. Usually, they would consider some factors like your income, employment, assets, other liabilities, and even credit history. Nevertheless, if you like to calculate an estimate, you may use our calculator for home loan eligibility. Alternatively, you can reach out to a mortgage broker who can offer a range of home loan options.

      Hope this helps.

      Cheers,
      May

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    ChristineJuly 12, 2017

    Hi just wondering what the process is for changing name on the title from sole proprietor to joint proprietors when there is a mortgage on title?

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      ArnoldJuly 20, 2017

      Hi Christine,

      Thanks for your inquiry.

      Whilst your property is on mortgage, it is still possible to change the ownership of the property. There’s a guide on this page – https://www.finder.com.au/guide-to-changing-property-ownership that outlines how you can go through the process. But first, you’d need to speak to your lender about your plan in changing the type of ownership of your property.

      Hope this information helped.

      Cheers,
      Arnold