How often should I review my home loan?

At minimum annually, and always after RBA rate changes, when your fixed rate ends, or when your circumstances change significantly (income increase, property value up, loan balance down).

My rate seems high but refinancing seems hard - what can I do?

Start by calling your current lender to negotiate. Most lenders have a 'retention team' with authority to match competitor rates. Simply telling them you're considering refinancing often triggers better offers.

Home Loan Health Check

AI Advisor

Comprehensive AI assessment of your current loan vs market opportunities

Free to useNo data storedReal-time dataAI insightsUpdated: February 2026

Is your home loan still competitive? Our AI conducts a comprehensive health check - comparing your rate to market, checking if you're using features optimally, and identifying opportunities to save.

Enter Your Details

Real-World Examples

Big 4 Bank Customer Check

James has a $520,000 loan at 6.6% with CBA, has offset but only $5,000 in it.

Inputs Used:

loanAmount:520,000currentRate:6.6propertyValue:750,000monthlyRepayment:3,310lender:Commonwealth Bank

Rate is 0.5% above market leaders. Annual cost of rate gap: $2,600. Offset underutilized - if James put $40k into offset, he'd save another $2,600/year.

Online Lender Review

Priya has $380,000 at 5.9% with an online lender, no offset or package.

Inputs Used:

loanAmount:380,000currentRate:5.9propertyValue:580,000monthlyRepayment:2,250lender:Online lender

Rate is competitive (market-leading tier). No major opportunities, but consider adding offset if savings exceed $20k to save interest tax-effectively.

Frequently Asked Questions

Glossary

Revert Rate

The variable rate your loan moves to after a fixed period or promotional period ends. Often higher than advertised rates.

Package Fee

An annual fee ($300-400) that bundles your loan with other products and may provide rate discounts. Only worthwhile for larger loans.

Rate Lock

The ability to lock in a fixed rate at application, protecting against rises before settlement.

Related Tools

Detailed Refinance Analysis

See exact savings from switching to a new lender.

How to Negotiate Your Rate

Scripts and strategies to get a better deal from your current lender.

Stress Test Your Loan

Ensure you can handle rate rises and life changes.

How to Use

1Enter your current loan details
2Select features you have
3Get comprehensive AI analysis
4Receive actionable recommendations

Pro Tips

Even if your rate seems competitive, check your comparison rate - hidden fees erode savings
Review your loan annually - lenders quietly increase rates for existing customers
If you have an offset account, ensure your salary goes directly in for maximum benefit
Package deals with annual fees only make sense above $500k in loans typically

Avoid These Mistakes

Assuming your rate is still competitive because it was good when you got it
Paying for features you don't use (offset without balance, unused package benefits)
Not utilizing redraw or offset - leaving money in regular savings instead
Staying on a high revert rate after a fixed period ends without negotiating

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026