Before you refinance, work through these eight questions.
- What is my current rate and comparison rate?
- Are there exit or break fees on my existing loan?
- How much equity do I have? (Recent comparable sales help.)
- What features do I use? (Offset, redraw, split.)
- What is my goal? Lower repayments, faster payoff, cash-out, or consolidation.
- How long will I keep this loan?
- Is my employment or income changing soon?
- Have I compared at least 3 lender options?
When to wait
If break costs outweigh savings, or you plan to sell soon, refinancing may not be worthwhile. A broker can quantify the break-even point.
Ready to compare?
Book a free loan review to see refinance options matched to your goals.
