Refinancing your home loan

Make the switch to keep more in your pocket

With a 15 minute online application and fast approvals, refinancing can be easier than you think.


Tiimely own

Owner-occupied Principal & interest

5.94%p.a.Interest rate

5.95%p.a.Comparison rate

Tiimely Turnaround™

Enjoy low rates, faster

Get approved faster with Tiimely Own home^. Our record for assessing and approving a home loan - with a contract – is less than 58 minutes from the time of application.

Tiimely Own

Others just can't compete

We’ve built a better way to get a home loan. Our tech cuts time and cost from the process, so we can pass savings onto our customers. We keep our rates low, with no sneaky ‘catch’.

Tiimely Own

Features you need, at a better rate

Get big-bank quality products with lower rates. Tiimely Own home loans have 100% offset accounts available (even on fixed rates) or fee-free redraw.

Tiimely Own Home

No hidden fees

Our fees are simple and transparent, so you'll always know what to expect. $0 Upfront fees, $0 Monthly Fees (excludes offset), $0 Application Fee, $0 Annual Fees.

Calculate your savings

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. Just a note, if you choose a home loan with one of our partner lenders, your savings may vary based on your specific home loan.

Tiimely In-house Broker Service

Looking for something different?

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Tiimely Own is the smart choice for a low-rate loan with fast approval, but it’s not for everyone. Our in-house broker service provides major bank loans and supports complex situations and loan features such as split loans, guarantor loans, and construction loans.

Real stories, real savings

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Tiimely Home Team

Local experts

Chat to a home loan expert

We pride ourselves on offering smart and fast service. 90% of our calls are answered within 20 seconds by the team in our Australian-based headquarters.

Have a question about refinancing?

Learn more with some of our frequently asked questions.

Wondering how to refinance a home loan?

The first thing to do is to look at your current loan including the type of loan it is, the interest rate you’re paying, the features it offers, and the fees you’re paying. Identify the things you would like to improve with a new loan. For example, maybe you want to pair your fixed-rate with an offset account? Or maybe you want to move from a fixed rate to a variable rate?

Next, crunch the numbers to calculate how much you will gain from refinancing. Use our refinance calculator to determine your monthly savings if you refinanced with Tiimely Home.

Next, watch out for fees. Every lender has its own set of fees for refinancing. Expect to pay ‘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.

Once you have calculated if it's worth it to pursue a refinancing home loan, shop around for the best refinance rates and features and find a home loan that suits your scenario. Then, choose your new lender and apply. How long will the process take? Every lender is different. With Tiimely Home, your refinancing online home loan application will take approximately 15 mins.

When can you refinance a home loan?

You can refinance a loan whenever you want, but you should only switch if you can get a better deal. A refinancing loan comes with upfront costs such as break fees (if you’re on a fixed loan), exit fees and open fees. When deciding, calculate how long it takes to recoup the costs of refinancing.

Not sure whether it’s worth undertaking a home loan refinance? Use our refinance calculator to figure out how much you could save by getting a refinancing home loan with Tiimely Home.

How long does it take to refinance a home loan?

Refinancing usually happens within a 60 day period from start to finish. There are 5 main steps to refinancing: application, approval, contract, settlement, payment.

When you apply online your application process will take you about 15 mins to complete. Once completed we'll tell you whether or not your refinancing application is approved — or declined. Generally, this is pretty quick, but it will depend on the complexity of your application and the number of applications we are processing at the time. The quickest we've ever fully approved an applicant from the time they submitted their application was 58 minutes. However, customer turnaround times are very dependent on individual circumstances. Once you are approved we will send over a contract for you so you can sign.

Next is the final settlement and payment process. This is where the money changes hands. When you are refinancing, the money is transferred between loan providers (your current lender and Tiimely Home) on the settlement date. The settlement date depends on when both banks have everything they need to transfer the loan. This is generally worked out by our solicitor/conveyancer and your current bank’s settlement department. It can take up to 3 weeks.

Does refinancing a home loan hurt your credit score?

Your credit score may take a dip in the process, but it can recover and it's normal. A temporary credit hit is likely to be outweighed by the financial gain of a home loan refinance. When you apply for a new loan lenders will check your credit history to see if you are a risky buyer. This is called a ‘hard inquiry’. It shows up on your credit report and too many hits can temporarily cause your credit score to drop. To avoid too many credit inquiries, shop around for the best deals before you apply for a home loan.

What are some of the reasons to refinance

Refinancing involves ending your current home loan by taking out a new one, often with a different lender. Refinancing can help you pursue new features and better savings.

Get a better interest rate

Current home loan rate not competitive? Refinancing can let you switch and save, swapping your old home loan for a new one with a better interest rate.

Put money back in your pocket

A lower interest rate could mean lower home loan repayments. Send less to the lender, spend more on you.

Choose a new loan type

Whether you're moving into an investment property or want an interest-only loan, refinancing lets you change loan types.

Access equity to purchase

If the value of your home has grown since you took out your current loan, you could refinance to tap into equity which you can use to purchase an investment property.

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.

Other information

Our numbers

58 mins is our record to deliver a home loan contract as of Sep 19th 2023.

Legal things 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.