• The place to find the right expertise and make better decisions
  • Find the right expertise
Phoebe A.
Phoebe A.
Geelong, VIC


Our home loan is with CBA $540,000 and the property would be valued around 800,000… we both work, 2 kids 8 and 10 and we don’t like credit cards. The rate is 4.19%, what is the best rate we could get by refinancing?

Thank you

2 years ago


Hi Phoebe,
On the assumption that your incomes will support lending of $540,000 you could be eligible for a rate around 3.65%.

Lenders have really tightened up on borrowing capacity so that is why I mention the issue of your incomes.

How long have you had the existing home loan?

Peter Dall
0414 583 233


Thanks Peter, 3 years. Are you able to share the lender for 3.65%?

Hi Pheobe,

Considering you have quite a bit of equity in your home, you might be eligible for some great rates as low as 3.58% (comparison rate of 3.59%).

We would need to do a full review of your current home loan to see if you could refinance - would be happy to discuss in greater detail if you like.

Oleg Mazkovoi
0420 643 490

CUA, you may have seen their ads on television. They are based in Queensland but that should make no difference to you as they use the Redi network of ATM's (NAB) so funds are accessible via debit card.

Hi Phoebe,

As Peter said, the rates in the mid 3’s are accessible provided that you meet the criteria for each lender around property type, Loan to valuation ratio and serviceability.
The only way to provide a proposal for you is to conduct a full assessment and needs analysis.
It will cost you $588 to leave CBA and may cost you up to $600 in application fees for the new loan so it needs to provide you a rate that is around 0.2% better to break even. This is very achievable in the current market.
If you would like to book an appointment you can give Jacqui a call on 0431.156.001 or myself on 0435.474.498 at any time
Kind regards

It is prudent to not to simply focus on the advertised "rate", but also the overall cost of the loan, which is better translated as the comparison rate.

I would also suggest for you to consider what facilities you may need (e.g. off set account, transaction account, whether you prefer a brick & mortar branch establishment, are you happy to do your banking online or over the phone), as well as what your near term plans are. These factors determine which lender or product is more suitable for your overall needs.

It doesnt hurt to enquire and is generally free for you to have a broker assess your actual needs and financial situation rather than getting a generic answer here.

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>