What is Refinancing?
Refinancing refers to the process of replacing an existing loan with a new loan (such as a mortgage), typically to secure better interest rates, reduce monthly repayments, or tap into home equity for large expenses. It’s an effective strategy for homeowners looking to optimise their financial situation.
How to Use the Refinance Calculator
Our Refinance Calculator is a user-friendly tool that provides a clear picture of the potential benefits of refinancing your loan. Here’s how you can use it:
Select Loan Type
Select if your loan is for a Live In or Investment property.
Current Loan Remaining
Enter the remaining balance of your existing loan.
Current Loan Term Remaining
Specify the remaining duration of your current loan in years.
Interest Rate
Input the interest rate of your current loan.
After entering these details, the calculator will display your potential savings and time if you refinance with our Best Rate.
The Refinance Calculator is part of Atelier Wealth’s suite of tools aimed at empowering you with the knowledge and resources needed for effective financial management. Whether you’re planning to apply for a home loan, refinance, or expand your investment portfolio, understanding your tax obligations is a key step in achieving your financial goals.
*The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
