Home loans for refinancing & Debt consolidation
If you are looking for a new loan with a better rate and more features or would like to
consolidate your debts into one easy to manage repayment and save interest, Homeloans has several options for you.
Benefits of refinancing
- Move to a lower rate
- Consolidate your personal loans or credit cards to your home loan and pay a lower interest rate
- Upgrade to a home loan with more features
- Borrow additional funds for renovation or investment.
Our Home Loans for Refinancing
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Homeloans Ultra Plus
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The Homeloans Ultra Plus home loan offers a discounted interest rate in return for an annual fee. More info.
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Homeloans Ultra
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The Homeloans Ultra is our 'no frills' home loan, offering a competitive interest rate and no ongoing fees. More info.
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Homeloans MoniPower
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The Homeloans MoniPower home loan is a fully featured loan for purchase, refinance or debt consolidation. More info.
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Homeloans ProSmart
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The Homeloans ProSmart is a basic home loan that offers an attractive rate and no ongoing fees. More info.
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Roll your other repayments into your home loan and SAVE!*
By consolidating your debts you may be able to reduce the amount you pay each month in repayments.
Home loan interest rates are generally lower than the interest
rates charged on credit cards or personal loans, so by rolling these
debts into your mortgage, the total amount that you have to repay each
month will reduce.
Compare the two example scenarios below to see how consolidating your debts might work for you.
Example Scenario 1: Before consolidating your debts*
| Type of loan
| Amount outstanding
| Interest rate
| Monthly repayment
|
| Home loan
| $210,000 | 7.50%pa
| $1,468
|
| Car loan / Lease
| $24,000
| 9.00%pa
| $498
|
| Credit card 1
| $15,000
| 17.00%pa
| $373
|
| Credit card 2
| $6,000
| 15.00%pa
| $143
|
| Personal loan
| $18,000
| 12.00%pa
| $474
|
| Total | $273,000 |
| $2,956 |
Example Scenario 2: After consolidating your debts into your home loan*
| Type of loan
| Amount outstanding
| Interest rate
| Monthly repayment
|
| Home loan
| $273,000 | 7.50%pa
| $1,908
|
Total
| $1,048 |
| What Will My Repayments Be? |
| How Much Can I Borrow? |
| Work out what your weekly, fortnightly or monthly mortgage repayments will be using varying loan amounts with the repayment calculator.
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| Enter your total income and expenses to find out how much you may be able to afford to borrow.
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Split Loan Calculator
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| Extra Repayment Calculator
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Use this tool to calculate your repayments and total interest under different fixed and variable rate scenarios.
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| Calculate the long term benefits of making extra repayments into you mortgage.
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*Figures and interest rates are
indicative and used for the purpose of this comparison only. Homeloans
does not assert that these bear resemblance to current interest rates
and as such should not be relied upon without first seeking independent
financial advice based on borrower’s individual circumstances. Figures
and interest rates quoted for “Home Loan” in both scenarios assume a
variable interest rate over a maximum loan term of 30 years with
Principal and Interest repayments. Figures and interest rates quoted for
“Car loan/lease”, “Credit cards 1 & 2” and “Personal loan” are used
for the purpose of this comparison only.