Refinance Home Loan Costs

There are a number of costs and fees associated with refinancing and it is a good idea to get the full picture before making a final decision. Beware that it may look frighteningly expensive initially, but it is best to calculate the savings over the loan term, assuming you aren't planning to move in the near future.

To calculate at which point the benefit outweighs the costs (ie over how many months or years) ask your current lender and new lender what the applicable fees are.

Some the fees you may be faced with when refinancing and who is charging them is listed below.

Current Lender	New Lender
Discharge and registration of mortgage fees	Home loan application fee
Deferred Establishment fee (DEF) - applies if you refinance within a certain period of time	Valuation fee (of the property)
Break Costs (applicable for loans with a fixed interest rate)	Loan-legal fees
Registration of mortgage fees	Settlement fee
New stamp duty if you borrow more than your original loan (not applicable in all states and territories)