Mortgage Refinancing Calculator for Australia

Mortgage Consolidation & Refinancing Calculator
This calculator will help you to decide whether or not it would be advantageous for you to refinance either a single mortgage, or the consolidation of a first and second mortgage, into a single mortgage. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs. Note: Be sure to only include the principal and interest portion of your monthly mortgage payment.
First Mortgage
Enter the principal balance of your first mortgage: (call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment: (principal and interest portion only)
Enter your first mortgage's current interest rate:
Second Mortgage (Optional)
Enter the principal balance of your second mortgage: (call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment: (principal and interest portion only)
Enter your second mortgage's current interest rate:
Refinancing
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:

This is how much your monthly payment will be if you refinance:
Monthly payment (decrease)/increase:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:

All figures should be taken for general illustrative purposes only.

For help using the calculator or for further information on mortgage refinance and reducing your debt call us on 1300 789 014.