Things you should know

  • Calculations are estimates provided as a guide only and do not take into account fees, charges or other amounts that may be charged to your loan.
  • The repayment amounts are based on Principal and Interest and assume the interest rates do not change. Interest Only payments may be available at application.
  • When working out if refinancing may be right for you, consider the costs of a refinance with the benefits you could receive from your new home loan. The possible fees and charges that may be involved can be split into three main categories:
    • Exit fees associated with leaving your current lender
    • Upfront fees when you establish your new home loan
    • Ongoing fees during the life of your new home loan
  • Only 1 to 5 Year Fixed Rates are available at the point of application. However if you select a loan term of 5 years or less in this calculator, not all fixed rates are available for selection.
  • Fees and charges relating to our home loans (PDF)
  • Breakdown of repayments can be viewed in the “End of Year Breakdown” tab above the graph

Save with our low Extra Home Loan

2.29 % PA
Variable interest rate (with discount margin offer)
2.30 % PA
Comparison rate*

Get a discount for the life of your loan

For new borrowings with a Loan to Value ratio of 70% or less. The rates shown are for Principal and Interest repayments (Owner Occupied) with current discount margin offer. Product discount margin on Extra Home Loans may vary from time to time and is determined by CommBank based on campaign offers at time of loan contract. Minimum new borrowings of $10,000. Comparison rate warning

More about Extra Home Loan

Book appointment

Take the next step in your home buying journey

New customers

Apply for conditional pre-approval and get the confidence to act quickly when the right property comes along.

Book appointment

Existing customers

Apply for a home loan online in 15 minutes.

Apply in Netbank

Talk to a Lending Expert

Talk on the phone or in person – whatever works best for you.

Book appointment

$2,000 cashback when you switch your home loan to us^

The cashback is available on the following loans:

  • Owner occupied home loans
  • All investment loans

Apply by 31 December 2022 and have your loan funded by 31 March 2023. Minimum refinance amount $250,000. Not available for Bridging Loans. Limit of one $2,000 cashback per borrowing entity and per customer over a 12 month period.

Tell me more

Couple reviewing home loan details

Our most competitive rates – Owner Occupied

Owner occupied

Compare home loans
Loan type
Interest rate
Comparison rate
Extra Home Loan
(Loan to Value ratio of 70% or less)1
2.29% p.a.
2.30% p.a.
Standard variable rate (with Wealth Package)2
3.85% p.a.
4.27% p.a.
1 year fixed rate (with Wealth Package)2
2.54% p.a.
4.15% p.a.
2 year fixed rate (with Wealth Package)2
2.69% p.a.
4.06% p.a.

Our most competitive rates – Investors

Investment

Compare home loans
Loan type
Interest rate
Comparison rate
Extra Home Loan
(Loan to Value ratio of 70% or less)1
2.89% p.a.
2.90% p.a
Standard variable rate (with Wealth Package)2
4.43% p.a.
4.84% p.a.
2 year fixed rate (with Wealth Package)2
2.89% p.a
4.56% p.a.
3 year fixed rate (with Wealth Package)2
3.39% p.a.
4.56% p.a.

Book a time with a Home Lending Specialist, instantly 

Getting started

Should you refinance?

Before you make any decisions, it’s important to weigh up your options to understand if refinancing is the right one for you.

Is refinancing right for you?

How it works

If you think refinancing is right for you, here are the steps you should follow.

How to refinance your home loan

Things you should know

1 Extra (life of loan discount) – The product discount margin will vary depending on the Loan to Value Ratio (LVR) and is set at the time loan documents are issued. As at 15 October 2021 Extra Home Loan reference rate for Owner Occupied home loans is 3.78% p.a. and the current Extra Home Loan reference rate for Investment home loans is 4.13% p.a. 

2 To be eligible for a package you must have an initial total home lending balance of $150,000 (the sum of the account balance of eligible home lending and line of credit accounts) and pay an annual fee of $395. Package rates shown are based on a discount of 0.70% p.a. on the Standard Variable Rate and Viridian Line of Credit, and a discount of 0.15% p.a. on Fixed Rates in a package. Low Doc loans are not eligible. It cannot be established in the name of a business or family investment trust. Please refer to the Wealth Package Fact Sheet or Mortgage Advantage Fact Sheet for full details.

Interest rates referenced are current rates and may change at any time

We have different rates that apply, depending on whether you’re making interest only payments or principal and interest repayments. During an interest only period, your interest only payments won’t reduce your loan balance. At the end of an Interest Only period, your repayments will increase to cover principal and interest components.

* Comparison rate calculated on a $150,000 secured loan over a 25-year term. WARNING: Comparison rate is 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. Comparison rates for variable Interest Only loans are based on an initial 5-year Interest Only period. Comparison rates for fixed or guaranteed Interest Only loans are based on an initial Interest Only period equal in length to the fixed or guaranteed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

^ Offer available on eligible home loans funded on and from 1 January 2020 (except for Owner Occupied Interest Only home loans, which are eligible if funded on and from 7 April 2020), where at least $250,000 has been refinanced from a financial institution other than Commonwealth Bank or Bankwest. Viridian lines of credit may be eligible as part of a multiple loan facility application if the total minimum refinance amount of $250,000 or more is met. Limit of one $2,000 cashback per borrowing entity (e.g. individual, joint borrowers, company) and per customer over a 12 month period. Limit of one $2,000 cashback per joint application. Where one of the joint applicants has received a cashback in the last 12 months, that customer will not qualify for the offer. Where all applicants have received a cashback in the past 12 months, the joint loan will not be eligible for the cashback. This offer cannot be combined with a Wealth Package fee waiver. Cashback will be credited to a Commonwealth Bank transaction account linked to the loan or the borrower/s within 90 days of loan funding (this could be a joint account with an unrelated party). We reserve the right to terminate the offer at any time. Applications subject to credit approval. Fees and charges may be payable. Full terms and conditions will be included in our loan offer.

Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Conditions apply to all loan options. Full terms and conditions will be set out in our loan offer, if an offer is made. Fees and charges are payable. Interest rates are subject to change. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice. You should also read our Financial Services Guide.