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Find a better refinance home loan for you

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Richard Whitten

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Repayment calculator
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% p.a.
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1 - 10 of 309
Updated regularly
Name Badges Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Details Go to site Monthly Repayment
NRMA Home Loans Variable Home Loan image
NRMA Home Loans Variable Home Loan
9.2
NRMA Home Loans Variable Home Loan
Sidebar close button
NRMA Home Loans logo
NRMA Home Loans Variable Home Loan
Principal & Interest10% min. depositOwner-occupier
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Product NameNRMA Home Loans Variable Home Loan
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.78%
Comp. Rate p.a.5.82%
Minimum Loan Amount$50,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Principal & Interest10% min. depositOwner-occupier
9.2
5.78%
5.82%
  • Application: $0
  • Ongoing: $0 p.a.
5.78 %
Interest rate p.a.
5.82 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,931
per month
($1,012 saving)
Go to site
More Info
IMB Budget Home Loan image
IMB Budget Home Loan
9.3
IMB Budget Home Loan
Sidebar close button
IMB logo
IMB Budget Home Loan
Principal & Interest20% min. depositOwner-occupier
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Product NameIMB Budget Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.79%
Comp. Rate p.a.5.82%
Minimum Loan Amount$10,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Principal & Interest20% min. depositOwner-occupier
9.3
5.79%
5.82%
  • Application: $449
  • Ongoing: $0 p.a.
5.79 %
Interest rate p.a.
5.82 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,934
per month
($1,009 saving)
Go to site
More Info		Up to $4K cashback
Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
ANZ Plus Home Loan Variable Rate image
ANZ Plus Home Loan Variable Rate
9.4
ANZ Plus Home Loan Variable Rate
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ANZ logo
ANZ Plus Home Loan Variable Rate
Principal & Interest20% min. depositOwner-occupierOffset account
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Product NameANZ Plus Home Loan Variable Rate
Interest Rate TypeVariable
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.5.85%
Minimum Loan Amount$10,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Principal & Interest20% min. depositOwner-occupierOffset account
9.4
5.84%
5.85%
  • Application: $0
  • Ongoing: $0 p.a.
5.84 %
Interest rate p.a.
5.85 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,950
per month
($993 saving)
Go to site
More Info		$2,000 cashback
Borrowers refinancing home loans of $250k or more to ANZ Plus could get a cashback of $2,000. Excludes refinancing from ANZ or Suncorp. Other exclusions and terms and conditions apply. See provider website for full details.
Greater Bank Great Rate Discount Variable Home Loan image
Greater Bank Great Rate Discount Variable Home Loan
9.4
Greater Bank Great Rate Discount Variable Home Loan
Sidebar close button
Greater Bank logo
Greater Bank Great Rate Discount Variable Home Loan
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
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Product NameGreater Bank Great Rate Discount Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.5.85%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term
Maximum LVR 110%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
9.4
5.84%
5.85%
  • Application: $0
  • Ongoing: $0 p.a.
5.84 %
Interest rate p.a.
5.85 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,950
per month
($993 saving)
Go to site
More Info		Up to $2,500 cashback
Eligible refinancers can get up to $2,500 cashback depending on loan value. Full terms and conditions apply.
Westpac Flexi First Option Home Loan – Online Refinance Offer image
Westpac Flexi First Option Home Loan – Online Refinance Offer
9.2
Westpac Flexi First Option Home Loan – Online Refinance Offer
Sidebar close button
Westpac logo
Westpac Flexi First Option Home Loan – Online Refinance Offer
Principal & Interest30% min. depositOwner-occupierSpecial Offer
Go to site
Product NameWestpac Flexi First Option Home Loan – Online Refinance Offer
Interest Rate TypeVariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.5.85%
Minimum Loan Amount$25,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 70%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionNo
Loan Portable
Extra Repayments Yes
Principal & Interest30% min. depositOwner-occupierSpecial Offer
9.2
5.84%
5.85%
  • Application: $0
  • Ongoing: $0 per month
5.84 %
Interest rate p.a.
5.85 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,950
per month
($993 saving)
Go to site
More Info
Qantas Money Variable Home Loan image
Qantas Money Variable Home Loan
9.2
Qantas Money Variable Home Loan
Sidebar close button
Qantas Money logo
Qantas Money Variable Home Loan
Principal & Interest10% min. depositOwner-occupier
Go to site
Product NameQantas Money Variable Home Loan
Interest Rate Typevariable
Repayment Type Principal & Interest
Interest Rate p.a.5.93%
Comp. Rate p.a.5.99%
Minimum Loan Amount$300,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Principal & Interest10% min. depositOwner-occupier
9.2
5.93%
5.99%
  • Application: $345
  • Ongoing: $0 per month
5.93 %
Interest rate p.a.
5.99 %
Comparison rate p.a.
Go to site
Monthly Payment
$2,979
per month
($964 saving)
Go to site
More Info		 Earn 100,000 Qantas Points for every year of the loan. Plus for a limited time on loans of $400k or more, receive up to 200,000 Qantas Points in your first year. Apply before 10 May 2025. Terms, conditions and eligibility apply.
Newcastle Permanent Real Deal Home Loan image
Newcastle Permanent Real Deal Home Loan
9.3
Newcastle Permanent Real Deal Home Loan
Sidebar close button
Newcastle Permanent logo
Newcastle Permanent Real Deal Home Loan
Principal & Interest20% min. depositOwner-occupierOffset account
Product NameNewcastle Permanent Real Deal Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.84%
Comp. Rate p.a.5.88%
Minimum Loan Amount$150,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan Portable
Extra Repayments Yes
Principal & Interest20% min. depositOwner-occupierOffset account
9.3
5.84%
5.88%
  • Application: $595
  • Ongoing: $0 p.a.
5.84 %
Interest rate p.a.
5.88 %
Comparison rate p.a.
Monthly Payment
$2,950
per month
($993 saving)
More Info		$3,000 cashback offer
Eligible purchasers and refinancers can get $2,000 or $3,000 depending on loan value, as long as LVR is 80% or lower. Terms and conditions apply.
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What does it mean to refinance a home loan?

Refinancing means switching from your current home loan to a new one. Borrowers refinance their home loans to:

  • Get a lower interest rate
  • Borrow more money
  • Switch to a loan that suits their current financial goals

According to Finder's Housing Market Report, Australians refinanced in record numbers in 2023. 72% of home loan refinancers switched lenders in search of a better deal, while the remainder refinanced with their current lender.

How to compare home loans when refinancing

The table above features a wide selection of home loans suitable for different types of borrower, including homeowners and investors.

To find a better loan:

  1. Enter your current loan amount and interest rate in the fields above the table (or just estimates if you're not sure).
  2. Compare loans by sorting from highest to lowest interest rate or by looking at the amount you can save with each loan (if the rate is lower than your current loan).
  3. Click the green button on any loan in the table if you think it suits your needs and submit an enquiry. It only takes a minute.

More ways to find a better home loan

Comparing for yourself and switching is easy. But if you want someone to do the hard work for you, you're in luck!

Every month Finder picks our top home loans for the month by looking at loans with the lowest rate and fees.

And you can check out the full list of Finder's 2024 Home Loan Award winners if you want to find loans that had consistently low rates and fees all year.

How much does refinancing cost?

Generally, you can expect to spend around $1,000 when refinancing your home loan. Note that most of these fees and charges will be added to your loan, rather than you having to pay for them as upfront costs. In many cases, the amount of money you'll save when refinancing to a cheaper rate will more than outweigh the costs of refinancing.

  • Discharge fees. Lenders often charge a fee to end a home loan of around $125 to $250 - they're also known as settlement fees.
  • Government fees. Refinancers may have to pay state government fees to de-register their old loan and register the new one.
  • Loan fees. Some lenders charge application or settlement fees ranging from $250–$600 or charge ongoing fees.
  • Fixed rate break costs. You may have to pay an exit fee for breaking the loan when refinancing a fixed rate loan. Ask your current lender for a break fee estimate before committing to refinancing.

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
$118.90
Mortgage registration fee
$118.90
Application fee (new loan)
$450
Settlement fee
$150
Title search fee
$30
Total refinancing costs:
$1,117.80

"I've refinanced my current home loan 4 times in 10 years – each time it has cost me about $1,000 in fees and charges, but I always get a new loan with a cashback offer to help cover that. My home loan balance is actually higher now than I was when I took out the loan initially, a dozen years ago. But by refinancing and accessing equity, I've been able to invest in two other properties, which have both grown in value. So, the cost and effort of refinancing is definitely worth it for me!"

Christopher D
Homeowner and property investor

What are the benefits of refinancing?

  • You can get a lower interest rate: The most common reason to refinance is to get a better interest rate on your home loan than your current lender offers. Easy.
  • You could increase your loan amount: maybe you want to use your equity to increase your loan amount but your existing lender has turned you down. Refinancing could allow you to borrow more (hopefully for something sensible like a home renovation and not to work on your sweet tan in Bali).
  • You could access new features: If your existing loan doesn't offer things like an offset account or redraw, it's definitely reasonable to want to refinance so you can get them.
  • You can lessen your loan term: If you're in a position to do so, you could shorten the length of your loan term if you refinance. Your monthly repayments will go up, but you'll pay the loan off much faster and will save thousands on interest. (But remember: if you're on a variable loan it might be that you can make unlimited extra repayments and pay off the loan early anyway.)

What are the disadvantages of refinancing your home loan?

  • Paying extra fees: Refinancing comes with a cost. For instance, you might have to pay a settlement fee when you leave your lender: if you're in a fixed rate period it's likely you'll need to pay a break fee. You may also need to pay an application fee at the new lender.
  • Paying more overall: This is where the math gets complicated. Let's say you were 10 years into a 30 year loan term. Refinancing your remaining loan value to another 30 year loan could mean you end up paying more over the life of the loan. Confused? Take a look below at our more detailed explainer.
  • Lenders Mortgage Insurance: If you're still fairly early into your loan term, you may not have built up a whole heap of equity. So, you may need to pay more in LMI. Which could be really annoying if you already paid it the first time.
  • Losing equity: Talking of equity... refinancing to access more cash means you'll probably lose some of the equity you've built in your home. It might be a worthwhile risk to take, but you'll need to assess

How much can you save by refinancing in 2025?

We estimate that the average person could save up to $6,756 a year by switching to a lower rate:
  • The average Australian home loan is now $665,978 (according to the ABS) - a record high!
  • The average variable interest rate loan in Finder's database is 6.94%. The lowest available variable rate on the market is 5.64%.
  • Assuming a 30-year loan term, if you switched to that lower rate your monthly repayments would drop from $4,404 to $3,841. That's a saving of $563 every month, or $6,756 a year.
Data is correct as of 1 April 2025. This savings example is a hypothetical estimate only. The lowest rate is for an owner-occupier loan with 80% LVR.
Rebecca Pike
Market update by Rebecca Pike – Finder's senior home loans writer

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.

Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.

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 costsFull and Partials Offsets
Upfront FeesExtra Repayments and Redraw
Monthly/ Annual FeesLoyalty 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.

How to find the best refinance rate

To get the best home loan refinance rate, take the following steps:

Percentage

Look for a cheaper rate

The lower the interest rate the more money you save. This is true for every borrower and it's the first thing most refinancers look for.

Even just a small difference in rates can end up saving you hundreds of dollars a year in repayments.

Tick

Make sure the loan meets your needs

You also need to refinance to a home loan that suits your needs. If you need a loan with an offset account, you want to avoid a basic loan that doesn't have this feature.

A package loan might look attractive, but it might have high annual fees and products you don't need.

Dollar

Avoid a loan with high fees

There are usually 1 or 2 fees with any new home loan. But the cost of fees can vary widely, from practically nothing to hundreds of dollars. It's worth keeping loan fees in mind when preparing to refinance a home loan.

Graham Cooke's headshot
Our expert says

"Most Australians refinance to a new lender. But it is often worth asking your current lender for a lower rate first. If your current lender can't offer you better then it's time to shop around. And don't just look at the big banks you're already familiar with. Look at rates from online lenders, credit unions and smaller banks."

Head of Consumer Research

Learn more about calculating your refinancing costs

How to refinance a home loan in 5 steps

Refinancing means switching your current home loan to a new one.

And switching is easier than you think:

  1. Check your current interest rate. Look at competitive mortgage rates and see if yours is too high. You could ask your lender to lower your rate or you could start looking for a better deal.
  2. Compare home loan refinancing options. If you do decide to switch lenders, look for a suitable loan with a better rate and features you need.
  3. Crunch the numbers. Work out the costs of your new loan, including application and ongoing fees, and make sure the new loan really is a better deal. Check the exit costs from your current loan too (there may be a discharge fee or break costs).
  4. Apply for the new home loan. Collect your mortgage documents, submit your application and then wait for approval from the new lender. This can take a few hours to compile, but it's a worthwhile investment considering the potential savings.
  5. Exit your current loan. When you refinance, your new bank will notify your current lender and you can discharge your mortgage.

Refinancing is quite a straightforward process, although it requires quite a bit 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

Richard Whitten's headshot

"I've only had my home loan for a few years, and it's one of the lowest rates on the market. So I probably won't need to refinance for a while. But I still watch my home loan like a hawk. Because every now and then my lender lifts rates (usually in response to the Reserve Bank's rate decisions). But this lender also offers slightly cheaper deals for new customers. Over time my rate ends up being much higher. So I call my lender and ask for its lowest rate. And I always get it. If my lender refused, I'd refinance in a heartbeat."

Money Editor

Why you can trust Finder's home loan experts

freeEasy answers, without any calls. We know fixing is a big deal, but checking you're options and rates shouldn't have to be. We speak to home owners every month, and have put over 50 hours in creating this guide.
expert adviceRates obsessed. We track big banks, small banks, credit unions and digital banks because whether you're fixing up for 1 year or 3, even 1 decimal place could save you big bucks (without getting annoying calls!).
independentReady in any market .Lending rates verified from 180+ products day and night. Whether you're buying for the first time, or remembered refinacing at 3am - our rates are up-to-date.

Your home loan refinance questions answered

Richard Whitten's headshot
Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise
Richard has written 607 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
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