Refinancing your home loan
Discover the benefits of refinancing your home loan with loans.com.au. Get answers to all your questions about the refinancing process and start reducing your monthly payments and saving money today.
Refinancing your home loan
There are many benefits to refinancing your home loan, such as:
- Paying less interest over the life of the loan, saving you thousands.
- Reducing your loan term by a matter of years
- Accessing new features, like an offset sub-account to save on interest repayments and get Visa debit card, online & EFTPOS access to your money.
- Accessing equity, which is the amount you’ve paid off on your current loan.
Related content
You can refinance with the equity you have in your existing home. However, if the value has changed significantly you may need to provide deposit up to 10% of the property’s value.
Some of the key documents you will need to refinance a loan include proof of income, list of existing loans and expenses, personal identity information and list of current assets. To learn more, click here.
There are no rules on how often you can refinance your home loan. However, just consider potential fees. If you’re in a fixed-rate mortgage you may incur break costs and early exit fees. To learn more, click here.
You will need to supply documents to prove you can afford to repay the loan, including:
PAYG Payers - last two payslips
Self employed - last two years tax returns with an ATO Notice of Assessment
Three months of bank statements
Evidence of any rental income
Six months of statements for your current home loan
Three months of statements for any loans you are consolidating (ie. credit card debt)
A copy of your current Rates Notice and evidence of payment
On our end, we’ll arrange a property valuation, credit assessment and all the paperwork with your current lender.
Get more information on what documents you need to refinance your home loan.
Yes. While refinancing can save you thousands, there’s a few upfront costs to consider like exit fees, break fees, application fees, security assessment fees and settlement fees. It’s important to consider these when refinancing. To learn more, click here.
Consider refinancing when you’re trying to save on expenses. Generally, it’s a good idea to review your home loan at least annually and consider refinancing when the benefit of doing so outweighs the cost. To learn more, click here.
Refinancing refers to the process of replacing your current home loan with a new one in order to access additional benefits such as securing a lower interest rate, accessing home equity or consolidating debt. To learn more, click here.
Yes, refinancing can affect your credit score, as refinancing is considered to be a credit application. To learn more, click here.
The equity in your home is the difference between its market value and your remaining home loan balance.
To put it simply, this is the value of what you currently own in your home. For example, the market value of your home is $350,000 and you still owe $200,000. When you subtract the loan balance from your property value, you have equity of $150,000.
The best thing about building up your equity is that it can be accessed through home loan refinancing, allowing you to use your home as security and use these funds for other expenses.
Refinancing can be a way to use the equity in your home to invest in home improvements, or in other real estate. However, keep in mind that increasing your loan will mean an increase in your loan repayments.
Find out more about accessing equity to buy another house.
I have a question about...
-
Purchase or refinance
-
Owner occupied
-
P&I
-
up to 90%
-
Up to 30 years loan term
-
Unlimited additional repayments
-
Purchase or refinance
-
Owner occupied
-
P&I
-
up to 70%
-
Up to 30 years loan term
-
Unlimited additional repayments
-
Purchase or refinance
-
Owner occupied
-
P&I
-
up to 80%
-
Up to 30 years loan term
-
Unlimited additional repayments
Special/Discounted Rate
Didn't find what you needed?

Talk to a home loan expert
Our experienced loan specialists are here to help = just book a call to have all your questions answered.
Refinance articles
loans.com.au
Guide to switching home loans
Find out how to refinance your home loan the quick and hassle-free way. Our guide contains our loan process, documents, pre-approval, tips and more.
home loans
What are the costs of refinancing your home loan?
Refinancing can potentially save you thousands on your home loan, but there are also costs that come with doing so.
home loans
What you will need to refinance your home loan
Whether you're upgrading to a roomier home or have found a cheap home loan interest rate from another provider, refinancing your home loan could be on your horizon.