Tiimely Own

Home loan refinancing calculator

Find out how much you could save by refinancing with a Tiimely Own home loan.

Current loan

Property usage

Tiimely own

You could save


Putting this back into your loan could save you this amount in interest over the life of your loan.

4 years + 2 months
You could be debt-free of your home loan this much sooner.

These estimates are for our Tiimely Own home loan. Note: if you choose a home loan with one of our panel of lenders, your savings may vary based on your specific home loan.

Choose product type
  • Variable

    Tiimely own

    Owner-occupied Principal & interest

    5.94%p.a.Interest rate

    5.95%p.a.Comparison rate

    • No hidden fees
    • Free online redraw on any additional repayments
    • Offset account optional for $10/month
    • Fast approval with Tiimely Turnaround™
    • Only 10% deposit required
    • Unlimited additional repayments
    • Up to 30 years loan term

    Backed and funded by Bendigo and Adelaide Bank

    Please note if you add an offset account, your comparison rate will change.

  • Fixed 1 year

    Tiimely own

    Owner-occupied Principal & interest

    6.14%p.a.Interest rate

    6.01%p.a.Comparison rate

    • Offset account optional for $10/month
    • 5.99% roll-to-rate after 1 year
    • Fast approval with Tiimely Turnaround™
    • No hidden fees
    • Free online redraw on any additional repayments
    • $20,000 additional repayments limit per year
    • Only 10% deposit required
    • Up to 30 years loan term

    Backed and funded by Bendigo and Adelaide Bank

    Please note if you add an offset account, your comparison rate will change.

Real customers, real savings

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Ivy, Tiimely Home Team

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Talk to a local home loan expert

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Frequently asked questions

Learn more with our frequently asked questions.

How do I refinance my home loan?

Refinancing is where you take out a new home loan to replace your existing one, either with the same lender or by switching to a different one.

Reasons to refinance may include;

  • To lower your interest rate
  • To find a loan with more features - such as redraw or an offset account
  • To use the equity in your home to renovate or improve your lifestyle
  • To consolidate other debts into your mortgage

Steps to refinancing

Firstly, familiarise yourself with your current loan; the type of loan, the interest rate you’re paying, the features it offers and the fees you’re paying. Then identify the things you‘d like to improve with a new loan.

This allows you to compare with other loans on offer and find a better deal. Remember to factor in any costs associated with exiting one loan and taking out another.

The best way to check your potential savings is with a refinance home loan calculator.

What documentation will I need to provide?

Our Tiimely Home online form isn’t a form to capture your contact details, it’s a live loan application that assesses your information and should you be approved, has an actual home loan offer at the end.

As our process assesses you in real time, you’ll need to have all your documentation ready, which includes;

  • ID – we’ll need to digitally verify a form of your ID such as your driver’s licence, Australian passport, Medicare card or foreign passport with an Australian visa. And it’s at this point that we also run a credit check.
  • Financials – we’ll need to verify your income, expenses and your current financial situation. This can be done by securely providing information from your bank account(s) to our secure in-house verification technology, or if you prefer, manually uploading copies of your transaction statements.

Applying for a home loan with Tiimely Home is fast, secure and simple. Once you submit your documents and your application, we’re able to either approve your loan on the spot or let you know if we need further information.

If you have questions or are not sure about anything in our application process, you can check your eligibility or talk to our expert team via LiveChat or on 1300 842 405.

How do you calculate home loan repayments?

Explained simply, to calculate loan repayments, we take your loan amount, add the total estimated amount of interest we’ll charge over the life of the loan, and then divide that total into a monthly amount based on the length of your loan term.

How we calculate weekly and fortnight repayments

We calculate weekly and fortnightly repayments a little differently. For example, for fortnightly repayments, instead of multiplying monthly repayments by 12 and dividing by 26, we simply divide your monthly repayment amount by 2.

The fortnightly repayment amount is rounded up to the nearest dollar. This calculation method ensures you pay the full monthly figure over 2 fortnights. Over time, this means you'll pay off your loan faster with less interest than if the repayments were calculated by annualising the monthly figure.

For fixed and interest-only loans

For fixed or interest-only loan — or a fixed interest-only loan — this will need to be considered as your repayments will change when the fixed and/or interest-only period ends.

How is refinancing calculated?

To calculate whether refinancing is worth it first calculate your monthly savings. To do this, compare the monthly payment of your current lender to the monthly payment of the new loan. Just use our refinance calculator to determine your monthly savings if you refinanced with Tiimely Home.

Next, calculate what it costs to refinance your home loan. These are all the fees it costs to refinance. They include ‘closing your old loan fees’ (such as discharge fees, break fees for fixed home loans etc) + ‘opening your new loan fees’ (government fees, third party fees).

Then divide the monthly savings by your total closing costs to figure out how many months it takes to break even.

How much can I borrow when refinancing?

Every lender has their own formula for calculating your borrowing power, and they generally look at six main factors.

  • Deposit - the larger your deposit, the more you can borrow and the less interest you’ll have to pay on your loan.
  • Income – this is not just how much your household brings in, but how much is left for home loan repayments after the bills and day-to-day expenses are paid.
  • Level of debt – how much you owe on other loans and credit cards will also influence your available income.
  • Savings history – having a savings history of at least 3 months demonstrates to a lender that you’ll be able to manage your home loan repayments.
  • Credit rating – a sound credit rating is one of the first things lenders look at, as it is based on your borrowing and repayment history.
  • Home loan term – a lender will look more favourably at a longer loan term, but remember it will mean you pay more interest over the life of the loan.
  • Property value - a lender may conduct a valuation of your chosen property to determine the amount they are willing to lend you.

​​You can get an upfront estimate of your borrowing power with Tiimely Home with our borrowing calculator.

What are the benefits of refinancing your home loan?

A lower interest rate, lower monthly repayments, and other flexible loan options like access to equity are some potential benefits of refinancing your home loan.

How does Tiimely Own have such low rates?

Our Tiimely Home application is different to traditional applications. It’s not a manual form that you fill out digitally, but a live application that assesses your information and eligibility in real time.
It’s because of this efficiency in our process that we’re able to offer some of the best interest rates in the market.

We have some of the lowest variable and fixed rate home loan rates, and you can see them all here.

How this refinance calculator works

How do I use a refinance calculator?

This online refinancing calculator is simple to use. Type in your current outstanding loan amount, enter the current interest rate that your lender is charging you, and tell us how many years left you have on your home loan. Select your loan purpose (live-in or investment) and hit calculate. We’ll estimate how much you could save on your monthly repayments, plus how much money and time you could save over the life of the loan by putting that amount back into your loan.

Already on a great rate? Well done you! Our home loan refinance calculator will let you know in the unlikely event that you’ve snagged a better or equivalent deal.

What are we calculating?

This refinancing home loan calculator is a guide only, and gives you an estimate of how much interest you could save by refinancing with Tiimely Home, based on the Tiimely Own home loan type selected for comparison, and the loan amount and loan term you entered. This estimate assumes your rate is the same over the life of your loan. You’ll get a qualified assessment when you begin an application, and enter the specifics of the property, your loan type (including whether or not you select an offset account), personal details and your financials.

How we work out the monthly savings

We estimate how much you could save in principal and interest repayments periodically if you were to refinance from your current rate, to the Tiimely Own home loan rate you select, over a 30 year loan term. The interest savings amount will be higher initially, and then reduce as your principal loan amount reduces.

How we work out the savings over the life of the loan

We assume that the monthly savings made from refinancing with a Tiimely Own home loan (as explained above) are paid back into the loan at the end of each repayment period, and that both rates (your existing home loan rate and the new Tiimely Own home loan rate, even if it’s fixed) will not change over the 30 year loan term.

How we work out the time saved in repaying the loan

We estimate how much sooner your new Tiimely Own home loan could be paid off compared to your existing loan (assuming you’re making principal and interest repayments), based on the loan amount and rate you provided, and assuming you pay your monthly saving (as explained above) back into your loan at the end of each repayment period. We also assume that you would have continued to make only the required repayments had you not refinanced with a Tiimely Own home loan. We assume both rates (your existing home loan rate and the new Tiimely Own home loan rate, even if it’s fixed) will not change over the 30 year loan term.

Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are 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.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.