Not sure what your property is worth? Request a free value estimate from John.
What Should You Do With Your Equity Estimate?
Equity on a calculator screen is potential, not cash. The number that matters is your usable equity: most lenders will lend against 80% of the property's value, minus what you still owe, and only if your income supports the bigger loan. Before you plan a renovation or a second property around this figure, I confirm what a lender's valuer is likely to say about your property, because a valuation that comes in 5% under your estimate can change the whole strategy.
If the number looks healthy, the two most common moves I arrange are a cash out refinance to release funds at home loan rates, and refinancing to buy an investment property using the equity as your deposit. If investing is the goal, read my guide to investment property loans first. All figures here are estimates only and subject to lender assessment.
How this calculator works
Enter your estimated property value and your current loan balance. Total equity is the value minus the balance. Usable equity is 80% of the value minus the balance, floored at zero, because most lenders cap lending at 80% of the property value before lenders mortgage insurance applies. Everything runs instantly in your browser and nothing is submitted anywhere. All figures are estimates only; a lender's own valuation and serviceability assessment determine the equity you can actually access.
When Did You Last Review Your Home Loan Rate?
If the answer is more than two years ago, there is a fair chance you are paying the loyalty tax. As a guide, a 0.50% rate cut on a $600,000 loan saves about $181 a month. John checks your exact numbers for free, and if staying put is the right call, he will say so.
Equity calculator FAQ
Typical switching costs run from about $700 to $1,200, covering discharge fees, government registration and a new application. On a $600,000 loan, a 0.50% rate cut saves about $181 a month, so most Sydney refinances recover their costs within three to nine months.
Often, yes, on larger balances. A 0.25% cut on a $600,000 loan saves about $91 a month, roughly $1,095 a year, which typically repays switching costs inside a year. Below that, the case depends on your balance, remaining term and fees; John runs the break-even numbers for you for free.
Most refinances settle within two to four weeks from application. Fast-track digital discharges can be quicker; a slow discharging lender is the most common delay. John manages the whole process, including chasing your current bank.