Stryve Refinance Feasibility Calculator
About the Refinance Feasibility Calculator
Refinancing only makes sense when the long-term savings outweigh the switching costs. This calculator compares your current loan against a new one (rate, term, fees) and shows the break-even point — the month at which the savings from the lower rate have repaid the cost of switching. If you plan to keep the loan past that point, refinancing pays off; if not, it doesn't.
How this calculator works
We model two scenarios in parallel: your current loan running to term, and a new loan at the rate and term you input. The difference in monthly repayments is your monthly saving. Divide the total switching costs (discharge fee, application fee, valuation, settlement — usually $550–$1,800) by that monthly saving and you get the break-even month. Anything past that point is net benefit.
What costs are involved in refinancing in Australia?
Typical costs: discharge fee from your existing lender ($150–$400), application or establishment fee with the new lender ($0–$600), valuation ($0–$300), settlement fee ($200–$500), plus government registration fees for mortgage discharge and new mortgage. Cashback offers ($2,000–$4,000) can offset some of these but usually come with 2-4 year clawback clauses, so factor in your likely hold period.
Reading the result
A short break-even (under 12 months) and a long expected hold period (3+ years) make refinancing a clear win. A long break-even (24+ months) means the savings are marginal — focus on lender fit and loan features rather than chasing rate. Don't extend the loan term back to 30 years when refinancing unless you need the lower repayment; doing so erases much of the interest saving even at a lower rate.
Frequently asked questions
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