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What different scores mean
9+
Excellent
These fixed rate home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
The lowdown on Finder Score
- 9+ Excellent - These low deposit home loans offer low costs, coupled with a host of features, giving the best overall value.
- 7+ Great - These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
- 5+ Satisfactory - Usually the home loans would offer above average rates. They may still include some competitive features.
- Less than 5 – Basic - Higher costs and/or fewer features.
Tell me more about the refinancing home loan score
The Finder Score is an easy, data-driven way to judge home loans at a glance. Here's how:
- Every month, our insights team analyses more than 7,000 home loans across 120+ lenders.
- We assess the most important features, rate them, and then combine them via a weighted methodology to create a simple score out of 10.
The Finder Score is designed by our insights and editorial team. We score home loans objectively, Finder's commercial partnerships don't affect the scores at all.
While the Finder Score hopes to help you with your financial decision-making, the right product may be different for your circumstances. So please consider what you want from your home loan before making any decisions.
The nitty gritty: how Finder Score is calculated
The Finder Score examines the costs and features of each home loan. These are combined to create the final score.
Frequent Flyers Points
| Cost Components (85% of overall score) | Features Component (15% of overall score) |
|---|---|
| Interest costs | Full and Partials Offsets |
| Upfront Fees | Extra Repayments and Redraw |
| Monthly/ Annual Fees | Loyalty Discounts |
| Cashbacks |
The cost of the home loan makes up 85% of the score. The other 15% is made up of features that come with the home loan.
More guides on Finder
-
Can you refinance without a job? A guide to refinancing when unemployed
Unless you have another source of income, it's very difficult to successfully refinance while unemployed.
-
Refinancing an SMSF home loan
Refinancing an SMSF home loan is the same as refinancing any other home loan, although it requires some extra thought and consideration.
-
Refinancing an interest only home loan
Refinancing to an interest-only loan can give you lower mortgage repayments and tax benefits for some investors.
-
How much equity do I need to refinance?
Knowing just how much equity you have in your home before you start looking to refinance a home loan is crucial. If you don't have enough equity you might have to pay for LMI again or get stuck with a higher rate.
-
How to refinance a home loan
Our comprehensive guide to refinancing your home loan shows you how to refinance a home loan and start saving today.
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Refinancing your home loan when you have bad credit
When you have bad credit it can be harder when refinancing. Home loans are available even with bad credit though – find out how you can refinance today.
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Should I refinance my home loan now?
Interest rates are low, giving you the chance to save thousands. See how much less you could pay for your home loan by refinancing today.
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Refinance your home loan to buy an investment property
Learn how to refinance a home loan to fund the purchase of an investment property.
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Debt consolidation by refinancing your home loan
Consolidate debt, pay less interest and reduce your monthly repayments by refinancing into a single home loan. Here's how it works.
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Switching home loans? Hidden costs of refinancing
Keen to switch home loan to a better deal? Refinancing could save you thousands, but make sure you know all the fees and charges before you switch.