Home loan health check calculator Australia
Find out whether your home loan is still worth keeping.
Your loan can keep ticking along for years without ever announcing that it's stopped suiting you. It doesn't send a text when it stops being any good, it just gets worse at its job, one repayment at a time.
The Home Loan Health Check gives you a quick look at where your current loan sits, and whether it's still worth keeping. If equity's part of why you're checking, that's exactly the kind of thing worth talking through once you've got a real number to work with.
The real question is whether you're actually ahead once everything's accounted for.
everything's accounted for.
accounted for.
A lower advertised rate can look great right up until you add switching costs, loan term, features and what you're actually trying to do with the loan.
That's why your result should be treated as a starting point, not a verdict.
The real question
everything's
The real question
A better rate on paper isn't always a better deal in practice.
The real comparison is...
The real comparison is...
The number that matters is the benefit after the trade-offs, not before them. A flashy headline rate that costs a fortune to switch into hasn't saved you anything. It's just moved the cost around.
whether the new structure actually helps with what you want to do next
whether the features suit you
what happens to the remaining loan term
what it costs to switch
what another option may cost
what you're paying now
what you're paying now
what another option may cost
what it costs to switch
what happens to the remaining loan term
whether the features suit you
whether the new structure actually helps with what you want to do next
If your mortgage has been sitting quietly in the background, this is probably worth two minutes.
Use the Home Loan Health Check if:
WHEN TO USE THIS CHECK
You're considering refinancing but genuinely cannot be bothered doing all the admin unless the numbers make it worthwhile
Your income or household circumstances have changed since you took out the loan
You've built equity and want to know whether it could support a renovation, investment or another property move
Your repayments have crept up and you're wondering whether there's another option
Your fixed rate is ending or has recently ended
You haven't reviewed your rate in a while
You simply want reassurance that your current loan is still fine
Two loans can look cheaper on paper and behave very differently in real life.
Things that can change the answer include:
- discharge or switching costs
- application or valuation fees
- the remaining term on your current loan
- offset or redraw features
- fixed versus variable structure
- your current property value
- the equity potentially available
- the purpose of the refinance
- lender policy and servicing
One rate comparison can't see your whole loan
Put in the basics.
See whether the loan deserves a proper look.
Two minutes now could save you a much longer Google spiral later.
01
Enter the property details the Health Check asks for.
Start with the property
Add your current loan information
02
Use the most accurate figures you have for the loan, rate, balance and repayment details requested.
Get your result
03
You'll get an indication of how your current position compares and whether there may be something worth exploring.
04
Decide whether the difference is meaningful
A tiny improvement may not justify switching. A larger one might. Equity or restructuring goals can change the equation again.
Run the real comparison if you want to go further
05
That's where we look at the actual costs, lender options and what the change would mean for you.
The result only matters if it changes the decision.
Got the answer? Here's what to do with it.
Got the answer?
Here's what to do with it.
If equity's part of what's on your mind
The Health Check won't calculate that number for you, that needs an actual valuation, but if a renovation, investment or next move is part of why you're here, that's worth raising when we talk. It changes what's actually worth exploring.
If the result isn't what you expected
Don't panic and don't immediately start filling in lender applications. The tool is indicative. A proper assessment may land differently once your actual loan, property position and lender options are considered.
If there could be a worthwhile saving
That's when it's worth checking the full picture. A sharper rate is one part of the comparison. We'd also want to look at switching costs, term, features and whether the structure makes sense for what you need now.
If your current loan looks competitive
Good. You may already be in a sensible position, which means you can stop wondering whether you're missing something. If there's nothing meaningful to gain by moving, we're comfortable telling you exactly that.
When we review a loan, the goal isn't to find something different. It's to work out whether changing anything leaves you meaningfully better off.
We'll look at your current rate, fees, term, features, structure, equity and what you actually want the loan to help you do. Then we compare that against the options across 40+ lenders.
Maybe the answer is refinance. Maybe it's ask your current lender for a better deal. Maybe it's do absolutely nothing.
All three are useful answers when the maths backs them up. We just won't manufacture the first one to feel productive.
Sometimes the best result is leaving the loan exactly where it is.
We're not trying to manufacture a refinance
7+ years broking · 250+ clients · 40+ lenders · 100+ 5-star reviews · 7+ years broking · 250+ clients · 40+ lenders · 100+ 5-star reviews · 7+ years broking · 250+ clients · 40+ lenders · 100+ 5-star reviews · 7+ years broking · 250+ clients · 40+ lenders · 100+ 5-star reviews · 7+ years broking · 250+ clients · 40+ lenders · 100+ 5-star reviews ·
If the Health Check says "worth a look"
Here's what happens next.
step FOUR | DECIDE
Refinance, reprice, or stay put. You'll know why.
step one | Quick Chat
Twenty minutes to talk through the current loan and why you're reviewing it.
step TWO | full loan review
We look at the rate, repayments, balance, term, equity and what you want the loan to do differently.
step THREe | COMPARE OPTIONS
If there are worthwhile alternatives, we show them side by side with the switching costs and trade-offs included.
step one | Quick Chat
Twenty minutes to talk through the current loan and why you're reviewing it.
step TWO | Full Loan Review
We look at the rate, repayments, balance, term, equity and what you want the loan to do differently.
step THREE | Compare the Options
If there are worthwhile alternatives, we show them side by side with the switching costs and trade-offs included.
step FOUR | Decide
Refinance, reprice, or stay put. You'll know why.
"A better rate even though we already had a competitive rate"
Alana Andrews
"Stephanie and her team were able to arrange a better rate for our loans even though we already had a competitive rate. The transition to the new lender was smooth and Stephanie was prompt to assist with any enquiries and offered support whenever needed."
"Made navigating the refinancing process very very easy"
Georgie Brice
"Stephanie was amazing to deal with and made navigating through the refinancing my home/mortgage process after separation very very easy. She was super patient with a rather protracted timeframe and cheerfully followed up with me at regular intervals."
Before you decide whether your loan deserves the admin
Worth checking
Find out whether your home loan is still earning its place.
Run the Health Check and get a clearer idea of where your loan sits. If it's already doing what it should, great, you can stop wondering.
If there's something worth changing, you'll know exactly where the conversation needs to go next.
