skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus

Refinance your home loan

Are you moving house, renovating or just thinking of different home loan options? Our Home Loan Specialists can help.

Jump to

Start refinancing today in 5 minutes

Is it time to switch your home loan?

We'll make switching easy

Our Home Loan Specialists and Mobile Lendersdisclaimercan help you through the switching process. Or you can get your refinance application started online in 5 minutes.

Start your application

Get a free Home Loan Check-in

A Home Loan Check-Indisclaimerchat with a Home Loan Specialist could help you figure out if switching to ANZ could suit your home loan needs.

Let's do it

 

Features and benefits of refinancing

Ways to save interest

Refinancing could help you find a better interest rate. You may also be able to consolidate debt and depending on your loan, make extra repayments, open an offset account or access redraw.

Bundle and save

Bundle your home loan, everyday account and credit card into an ANZ Breakfree packagedisclaimerand enjoy a great range of ongoing features and discounts. Annual fees of $395, other fees and charges apply.

Unlock your equity

You may also be able to use the equity in your existing property for renovations, investment opportunities, or other purpose. Our free ANZ Property Profile reportdisclaimercan help you get an estimate price range for your property.

Choose certainty or flexibility

A fixed rate loan provides certainty of what your repayments will be over the fixed period. A variable loan gives you the flexibility to make extra repayments and save on interest with an offset account. Or you can get the best of both worlds with a split loan

Explore our home loansdisclaimer

The flexibility you need

ANZ Standard Variable Home Loan

  • Make extra repayments to pay your loan off faster
  • Redraw available fundsdisclaimer(if you make extra repayments)

Principal and interest special offer rate under the ANZ Breakfree packagedisclaimer(borrowing ≤80% of the property value with total mortgage lending amount $500,000 plus)

Principal and interest

Comparison ratedisclaimer

Tell me more  Apply today

  

Annual package fee currently $395. Discounts vary based on lending amounts and other eligibility criteria. Terms and conditions, and minimum lending requirements apply. See all the rates available for this home loan type.

The certainty of fixed repayments

ANZ Fixed Home Loan

  • Your interest rate won't change during the fixed period
  • Choose from 1, 2, 3, 4, 5, 7 and 10 year fixed rate termsdisclaimer

Principal and interest rate under the ANZ Breakfree package (2 years fixed)

 disclaimer

Principal and interest

Comparison ratedisclaimer

Tell me more  Apply today

  

Annual package fee currently $395. Terms and conditions, minimum lending requirements and eligibility criteria apply.disclaimer   See all the rates available for this home loan type.

 

   

Line of credit secured by property

ANZ Equity Manager

  • Use the equity in your existing property
  • Only pay interest on what you use
  • Flexible repayment termsdisclaimer

Interest rate under the ANZ Breakfree packagedisclaimer (borrowing ≤80% of the property value with total mortgage lending amount $500,000 plus)

 

Interest rate

 

Tell me more  Apply today

  

Annual package fee currently $395. Discounts vary based on lending amounts and other eligibility criteria. Terms and conditions, and minimum lending requirements apply. See all the rates available for this home loan type.

Keep it simple with no ongoing fees

ANZ Simplicity PLUS Home Loan

  • Competitive variable interest rates and no ongoing fees
  • Make extra repayments any time 

Interest rate with Special Offer Discount (borrowing ≤80% of the property valuedisclaimer)

Principal and interest

Comparison ratedisclaimer

Tell me more  Apply today

  

Discount available on ANZ Simplicity PLUS Residential Investment Loans with at least $50,000 in new and additional ANZ lending. ANZ Simplicity PLUS is not available with an ANZ Breakfree package.

   


Need a bit more detail on our home loans?

Our home loans comparison tool can help you compare interest rates, loan terms, fees and features.

Compare home loans

Bundle your home loan and save

Bundle your home loan, everyday account and credit card into an ANZ Breakfree package and enjoy a great range of ongoing features and discounts.disclaimer

You could save

$1,800disclaimer in the first year

For an annual fee of

$395

If you take out a $250,000 ANZ Standard Variable Home Loan with a  interest rate discount and fee waivers under the Breakfree package.

Other fees and charges apply

I want to Breakfree

  

What you get

  • Interest rate discounts on nominated loan accountsdisclaimer
  • Everyday account fee waiverdisclaimer
  • Credit card annual fee waiverdisclaimer
  • Optional insurance discountsdisclaimer
  • Choice of variable or fixed home loan options
  • No limit on the number of eligible home loans under the one package 
   

Home loan refinance calculator


How much could I borrow?

Get an indication of how much you may be able to borrow


What could my repayments be?

Get an estimate of your potential loan repayments

Questions about refinancing?

When you refinance your home loan, you take out a new loan to replace the old one. Your current home loan is paid out by the new loan and you repay the new home loan over time. You can refinance with your current lender or switch to a new lender.

Refinancing might make sense for you if your situation has changed, for example, if you have changed jobs or started a family. You might also want to think about refinancing if the market conditions have changed, for example if interest rates have gone up or down. In these situations, the home loan that you have may no longer be the best fit for your circumstances and refinancing could help you find a home loan that better meets your needs.

  

If you’re thinking of refinancing your home loan, the first step is to review your current loan. Make sure you know the rate you’re paying, any costs associated with refinancing and the terms of your home loan.

Next, compare different home loans to see if you can find a better deal than what you’ve got, or a different product which better meets your needs. You could also speak with your current lender to see if you could access any refinance options with them, adjust your current loan to help you manage your repayments better, or benefit from other features that they offer. 

Keep your financial priorities in mind as you evaluate your options. It’s not always about the lowest rate. Consider the whole loan package, including features like offset accounts and the ability make additional repayments, to make sure you’re getting the home loan that best meets your needs.  Don’t forget to compare fees and charges as well.

The time it takes to complete a refinance will depend on things like the changes you are making to your loan and whether you’re changing your lender.  

Check out our step-by-step guide on how to refinance a home loan for more information.  

   

You don’t have to refinance your loan, and should only think about doing so if you’re satisfied that making changes to your loan is a good move for you. So there isn’t a set timetable for when you should refinance your home loan. If you do decide to refinance, it should be because refinancing will get you a home loan that better meets your needs.

Common reasons for refinancing include:

1. If you believe a better interest rate is available. If the market situation has changed and interest rates now are lower than when you drew down your home loan, refinancing your home loan may reduce the amount of interest you pay.

2. When your equity has increased. If your property has increased in value, the equity in your home may have increased too. You may be able to use the increased equity to negotiate better interest rates or loan terms. You may also be able to borrow against that equity to fund renovations, investments or other large expenses.

3. When your fixed loan home term or interest only term is expiring. When your fixed rate home loan term ends, your home loan usually switches to the standard variable interest rate, which may or may not be the best deal for you. If your fixed term is coming to an end, it may be a good time to review your home loan and explore your options.

4. If you’ve consistently been making repayments. This may put you in a good position to negotiate a better deal with your lender.

5. When you want to consolidate debt. If you have multiple loans or debts that have different interest rates, you may want to look into consolidating all your debts into your home loan. Home loan interest rates are generally lower than credit card or personal loan interest rates, and having just one repayment can make it easier to manage your budget.

  

The amount of equity you have in your home is the difference between the value of your property and the amount owing on your home loan. For example, if your property is worth $750,000 and you have $250,000 owing on your home loan, then you have $500,000 equity.

Many home loans will fund up to 95% of the value of your home, which means you’ll need a minimum of 5% equity to refinance. However, if you have equity which is less than a certain level (commonly 20%), you might have to pay Lenders Mortgage Insurance (LMI). LMI is insurance you pay for, but which protects the bank (not you) if you default on your loan and the money from selling your security property is not enough to repay your loan. If you have less than the required level of equity, you should talk to your lender about the cost of LMI when deciding whether or not to refinance.

As lenders use the amount of equity to assess risk, generally the more equity you have, the lower the risk of lending to you and the stronger your position.

Learn more about equity with our guide to understanding equity.

  

There’s no limit to how many times you can refinance your home loan. However, you might want to check if any waiting periods apply to your current loan, or if there are any fees or charges associated with ending or changing your existing loan.

The more important consideration is whether or not it makes sense to keep refinancing when you add up all the costs, such as early repayment costs (which can be substantial), loan approval fees and legal fees. Make sure that any savings you get from refinancing (such as lower repayments) will more than cover the costs of refinancing.

  

Let's put it this way: if you choose interest only, the minimum payments of your loan will be lower during the interest only period because you are not required to repay any of the loan principal. You will have to repay the principal down the track and so you may end up paying more over the life of your loan. There may be additional restrictions on the amount you can borrow or loan type you can select if you choose to pay interest only. Choosing to repay principal and interest means that, with each repayment, you're paying off interest charges as well as some of the loan principal.

  

Fixed home loan rates mean the interest rates on your home loan are locked in for a set period. Rate changes will not affect you and your repayments will remain the same during the fixed rate term. Fixed rate home loans provide certainty and stability. However, you may be charged costs if you change any of the terms of the loan, for example, make additional repayments above a permitted limit.

Variable home loan rates can change from time to time. This is great if interest rates go down but your budget would need to cover the possibility of rates going up as well. Variable rate home loans offer greater flexibility because you can make additional repayments and redraw, pay off your loan early or take advantage of an offset account.

As both fixed and variable rate loans have pros and cons, split loans are a way to get the best of both worlds. For example, you could split a $400,000 loan 50/50, with half in an ANZ Fixed Loan and the other half in an ANZ Standard Variable Loan

You can split your loan into whatever ratio of fixed and variable suits you.

  

A comparison rate is designed to help you work out the total cost of a home loan by building the known costs like up-front and ongoing fees into that rate. It doesn’t include things like government charges, redraw fees or fee waivers. 

You can use comparison rates to help you compare the cost of different home loans with similar features. When deciding which home loan is right for you, it’s important to think about what features each home loan offers, and how much these matter to you. Keep in mind that you may not necessarily pay the comparison rate that is advertised for your loan type.  This is because, for example, you may not pay all the fees and charges which the comparison rate includes.

  

Connect with our home loan specialists or apply

Quick start home loan application

Get started in just 5 minutes to apply for a new home loan, refinance, or pre-approvaldisclaimer

Apply online now

   

Request a call back

Leave your details 

   

Connect with a mobile lender disclaimer

Find a mobile lender

  

Visit a branch or ANZ Home Centre

Find your nearest location

  

Call us

1800 100 641

Mon-Fri 8.00am to 8.00pm (AEST)

   

You can also chat to an ANZ accredited broker for help with your home buying, investing or refinancing needs.

   

You might also be interested in

Article

Fixed vs variable home loans: which one may be right for you?

5 minute read

We explore some of the differences between fixed and variable home loans, to help you decide what’s best for you.

  

Article

How to refinance a home loan

5 minute read

Refinancing your home loan should help you find a loan that better meets your needs. Understand what’s involved with our step by step guide on how to refinance a home loan.

  

Article

Using the equity in your home

4 minute read

Equity is the difference between the value of your property and how much you owe on it. Find out how unlocking the equity in your home could open up opportunities.

  

The information on this page does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you and read the relevant terms and conditionsProduct Disclosure Statement and the ANZ Financial Services Guide (PDF) before acquiring any product. 

Applications for credit subject to approval. Terms and conditions available on application. Fees and charges apply. Australian credit licence number 234527.

Repayment Calculator

All applications for credit are subject to ANZ’s normal credit approval criteria. Product terms and conditions are available on application and eligibility criteria applies to the Breakfree package. An annual Breakfree package fee of $395 and a minimum lending requirement of $150,000 applies. Breakfree benefits only apply while you maintain the package and meet ongoing eligibility criteria. See ANZ Breakfree or ask ANZ for details.

This is an estimate for illustrative purposes only and is based on the limited information provided. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application.

The estimated repayment amount does not include any fees or charges.

If a Variable Rate Loan is selected, the interest rate will be subject to change throughout the term of the Loan, which can impact on repayment amounts.

Results are based on approximate amortised scheduled repayments and do not take into account interest rate changes or other events that may change repayment amounts on a loan.

For fixed rate loans, once the fixed rate period expires, the loan reverts to a variable rate loan and repayment amounts will change.

For interest only loans, once the interest only period expires, the loan will revert to the applicable variable rate loan for the remainder of the loan term (unless another interest rate period is taken). At the end of the interest only period, minimum repayment amounts may increase to cover principal and interest. Interest only loans are not for everyone and you should consider if this is the right strategy for you.

The calculator does not include ANZ Equity Manager.

Interest rates are current as at  and are subject to change.

Rates shown for loans of less than $150,000 do not include the Breakfree discount. Visit ANZ Breakfree to find out if you are eligible for the Breakfree discount.

ANZ Home Loans are available for periods between 1 and 30 years.

ANZ Home Loans are available for a minimum of $10,000. This calculator has been set to a maximum of $9,900,000 but you can apply for a higher amount.

Applications for credit are subject to ANZ’s credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.

Borrowing power calculator

Applications for credit are subject to ANZ’s credit approval criteria. Terms and conditions, and fees and charges apply. Australian credit licence number 234527.

This estimate is based on the accuracy of the limited information provided. It is also based on a loan term of 30 years, payment type principal and interest and either an ANZ Standard Variable rate for home loans or an ANZ Standard Variable rate for residential investment property loans depending on the type of property you have selected. The estimate might be different if payment type is interest only. It does not constitute an offer of credit. To apply for an ANZ Home Loan you must complete an application. All applications for credit are subject to ANZ's normal credit approval criteria. ANZ does not store the information you provided to generate this document.

The calculation of estimated maximum home loan borrowing power excludes Lenders Mortgage Insurance. The value of the security property is also considered in any credit assessment criteria.

Minimum loan amounts apply to different loan types. For more information, visit anz.com or contact us.

ANZ Mobile Lenders operate as an independently operated ANZ Mortgage Solutions franchise of Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Australian Credit Licence Number 234527.

Back to top

An ANZ Home Loan Check-In is a discussion about your home loan and other goals you may be considering. ANZ is not giving you recommendations or advice. The Check-In is based on limited information and won’t take into account all your financial situation, needs and objectives.

Before making any changes to your home loan, carefully consider all relevant information, including benefits, costs and risks. Sometimes making changes may end up costing you more.

Terms, conditions, fees, charges, and credit approvals and eligibility criteria apply to ANZ home loans.

Back to top

Property price information in an ANZ property profile report, such as a price prediction or price range, is an estimate, not a valuation. Property price information may not be available for all properties, is for personal domestic use only and may change daily. Actual sale prices may be different.

Back to top

Annual package fee currently $395 and subject to change. Eligibility criteria and terms and conditions apply, including a minimum total mortgage lending requirement of $150,000. See ANZ Breakfree Terms and Conditions (PDF 80kB) for details. ANZ Breakfree package benefits only apply while you maintain the package and meet ongoing eligibility criteria. Terms and conditions and fees and charges apply to products and services taken out in connection with an ANZ Breakfree package. 

Back to top

Interest rates shown on this page are current as at  and are subject to change. 

Back to top

Terms and Conditions and eligibility criteria apply to ANZ Redraw. ANZ Redraw is not available on loans in a company name. For further information on ANZ Redraw please refer to the ANZ Consumer Lending Terms and Conditions (PDF 412kB).

Back to top

The range of interest rates shown incorporate ANZ Breakfree discounts and ANZ Breakfree Special Offer discounts which apply while you hold an ANZ Breakfree package and meet ongoing eligibility criteria. The applicable discount varies based on loan amount, total mortgage lending and other eligibility criteria. Eligibility for interest rate discounts of between 0.75% p.a. and 0.90% p.a.  are subject to ANZ Breakfree Package Special Offer Terms and Conditions (PDF 40kB), which include total mortgage lending requirements, lending to value ratio requirements, and new lending requirements for existing customers. Eligibility for discounts between  and  are based on total mortgage lending requirements and the ANZ Breakfree Terms and Conditions. For details, see ANZ Breakfree package.

Back to top

Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly payments, including a Breakfree package discount (if applicable). These rates are for secured loans only.

WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

For interest only variable loans, the comparison rates are based on an initial 5 year interest only term. For fixed rate interest only loans, the comparison rates are based on an initial interest only period equal in term to the fixed period.

Back to top

Rates shown apply during the fixed period of your loan. After the fixed period, your rate will switch to the applicable variable rate for a principal and interest loan.

Back to top

This Comparison Rate is for secured loans of $150,000 over 25 years based on monthly repayments, including minimum Breakfree discount.

WARNING: This Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fixed home loans aren’t for everyone and early repayment costs may apply if you repay your loan or switch to another one before the end of your fixed term or make early or additional repayments. Once the fixed rate period ends, the loan reverts to a variable rate loan and repayment amounts will change.

Back to top

Interest rate discounts apply to eligible loan accounts linked to the Breakfree package which meet minimum lending requirements (total mortgage lending must be at least $150,000) and apply while you hold a package and meet ongoing eligibility criteria. Annual package fee $395 and subject to change.

Back to top

Flexible repayment terms as long as you’re under your limit. If you go over your limit, you’ll need to make a payment to bring it back under.

Back to top

Property value is ANZ's valuation of the security property and may be different to the price you pay for a property.

Back to top

Account service fee waived on one eligible transaction account (ANZ Access Advantage account or ANZ One offset account).

Back to top

The Annual Account Fee is waived on one eligible ANZ credit card account held under an ANZ Breakfree Package. The waiver only applies while the account is held under the package. A Rewards Program Services Fee of $55 per cardholder may apply to ANZ Rewards and ANZ Frequent Flyer accounts.

Back to top

ANZ Home Insurance, ANZ Landlord Insurance and ANZ Car Insurance are issued by QBE Insurance (Australia) Limited (QBE) ABN 78 003 191 035 (AFSL 239545). This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs.  You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. ANZ recommends that you read  ANZ Financial Services Guide (PDF, 107kB) and the relevant ANZ Home insurance Product Disclosure Statement and Policy (PDF 2.1MB)ANZ Landlord Insurance Product Disclosure Statement and Policy (PDF 760kB)ANZ Car Insurance Product Disclosure Statement and Policy (PDF 814kB), available by calling 13 16 14 or visiting anz.com before deciding whether to acquire, or to continue to hold, any of these products. To be entitled to a discount on your insurance you must notify the issuers of these products at the time of application that you are an ANZ Breakfree package customer. Please note for ANZ Home Insurance, ANZ Landlord Insurance and ANZ Car Insurance the discount is only applicable to the first year’s premium. Reference to insurance premium amounts for the purposes of calculating the applicable Breakfree package benefits exclude any stamp duty, GST and other government fees, charges or levies components that are included in the total premium amount paid by you. These discounts are not available in conjunction with any other discount offer made by issuers of these products or ANZ.

Back to top

For an annual fee of $395 you get 0.60% p.a. interest rate discount on a $250,000 ANZ Standard Variable home loan, saving $1,500 in the first year. You also get the Loan Approval Fee waived on your ANZ home loan ($600), the Monthly Loan Administration Charge waived on your ANZ Standard Variable Home Loan ($60) and the monthly account service fee waived on one ANZ One offset account ($120). 

Back to top

ANZ may provide pre-approval (also known as approval in principle or conditional approval) to eligible customers who apply for an ANZ home loan and complete an application form and satisfy any other applicable requirements. Pre-approval is an approval for a loan subject to conditions being met, including that security is satisfactory to ANZ. Australian Credit Licence Number 234527.

Back to top