Refinance Break-Even Calculator

See how many months it takes for a lower rate to pay back your switching costs.

Your details

Current loan balance

Current interest rate

New interest rate

Remaining loan term

yrs

Switching costs (discharge, application, valuation)

When the switch pays for itself

Savings so farSwitching costs

Time to break even

5 months

Change in your monthly repayment$237.97
Months of savings needed to recover switching costs5 months
Interest saved over the remaining term$71,390
Net benefit after switching costs$70,190

Refinancing back out to a 30 year term lowers the repayment but can cost you more in interest overall — keeping the remaining term is usually the stronger move.

Have your loan repriced or refinanced

This calculator gives a general estimate only. It is not personal financial, credit or tax advice and does not take your objectives or circumstances into account.

What this calculator assumes

Both loans are principal and interest over the same remaining term, so the comparison is like for like.
Both interest rates stay the same for the whole remaining term.
Switching costs are a one-off paid upfront; ongoing annual package or account fees are not included.
Any cashback offer, break cost on a fixed rate, or lenders mortgage insurance on the new loan is excluded.
Rates and thresholds current as at July 2026.

This calculator provides a general estimate only. It is not personal financial, credit or taxation advice and does not take your objectives, financial situation or needs into account. Counting Beans A.F. provides financial advice under AFSL 491754 (D&M Financial Services Pty Ltd) and credit assistance under Credit Representative number 528884. Please read our Financial Services Guide and Credit Guide, and speak with us before acting on any result.

Refinance Break-Even Calculator

Your details

What this calculator assumes

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