Refinancing Your Home Loan
If you’re a medical professional and your loan hasn’t been looked at in the past 12 to 18 months, there’s a real chance you’re paying more than you need to. We see it all the time.
What Is Home Loan Refinancing?
Home loan refinancing simply means replacing your current mortgage with a new one — sometimes with a different lender — to get a better interest rate, more useful features, or repayment terms that actually fit your life. Done right, it can lower what you pay each month, help you pay off your home sooner, or free up equity you’ve already built.
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Why Do Medical Professionals Refinance Their Home Loan?
Everyone’s situation is different, but here are the most common reasons our clients choose to refinance:
- To get a better rate: lower repayments, less interest, more breathing room each month
- To access equity: for a renovation, an investment property, or upgrading your practice
- To consolidate debt: rolling credit cards or personal loans into one simpler, lower-rate repayment
- To change loan features: like adding an offset account or switching from fixed to variable
- To keep up with life changes: a pay rise, a growing family, or shifting career goals all affect what the right loan looks like
When to Consider Refinancing
You might benefit from refinancing if:
Your rate has not been reviewed in over a year
Your financial situation has changed such as an income increase or family expansion
You want to free up funds for personal or professional goals
You would like more flexible repayment options or loan features
Not sure if it’s the right time? Our brokers will give you an honest answer. If refinancing makes sense, we’ll show you how. If it doesn’t, we’ll tell you that too.
How Does the Refinancing Process Work? (Step-by-Step)
From first chat to settlement, the refinancing process typically takes 4–6 weeks. We handle the heavy lifting so you’re not chasing paperwork between shifts.
Initial Review -
We take a close look at your current loan — rate, remaining term, any exit fees — and run the numbers to see if refinancing genuinely puts you in a better position.
Lender Comparison -
We compare options across our lender panel to find what's actually competitive for your situation — not just whatever has the flashiest marketing.
Tailored Recommendations -
We sit down (or jump on a call) and walk you through your options in plain English. No jargon. No pressure. You make the call — we just make sure you have everything you need to feel confident.
Application & Paperwork -
We handle the application, paperwork, and settlement, keeping you updated every step of the way
Settlement -
Your new loan settles, your old one closes, and we confirm everything's in order. You'll hear from us at every step — not just at the beginning and end.
Why Choose AMA Finance Brokers
AMA Finance Brokers is an independent brokerage with over 25 years of experience helping Australian medical professionals. We work for you — not the banks — and we won’t recommend something unless it genuinely makes sense for your situation.
- Over 25 years of experience helping professionals with home loans and refinancing
- Truly independent advice no lender ties, no hidden incentives
- Flexible consultations – evenings, weekends, video calls, or just an email exchange; whatever fits around your schedule
- Clear communication – We make your loan options easy to understand so you can make confident decisions
- End-to-end support – we manage everything from comparison to settlement
How Much Could You Save by Refinancing?
The savings from refinancing depend on your current rate, loan balance, and what’s available to you now. As a guide, even a 0.5% rate reduction on a $600,000 mortgage can save more than $3,000 a year in interest.
Use our mortgage calculator to get a rough idea, or speak with one of our brokers for a personalised number based on your actual loan.
Your Next Step
If you are ready to see how refinancing could work for you, let us do the heavy lifting.
We will review your current home loan, compare the best available options, and guide you through the process from start to finish. This allows you to focus on your patients, not your paperwork.
Call us on 1800 343 184 or enquire online to get started today.
Frequently Asked Questions
Yes — if you can access a lower interest rate than you’re currently on, your repayments will drop. How much depends on your balance, remaining term, and the new rate. We can work this out for you in the initial review, so you know exactly what you’d save before committing to anything.
You can, and it’s a strategy that works well for a lot of people. Home loan rates are typically much lower than credit card or personal loan rates, so consolidating can simplify your finances and reduce what you’re paying overall. We’ll help you figure out whether it makes sense long-term for your situation.
Generally, you can refinance at any time after settlement. If you’re on a fixed-rate loan, break fees may apply before the fixed term ends — but these can sometimes be offset by the savings you’d make. We’ll check your contract and give you an honest cost-benefit picture before you make any decisions.
With hundreds of home loan products available, choosing the right one can be overwhelming. Our experts compare the options and recommend the best fit for your goals.
Most lenders offer flexible repayment schedules—weekly, fortnightly, or monthly. Weekly or fortnightly repayments can reduce overall interest and shorten your loan term.
Penalty fees could apply if you’re paying off your current mortgage early, especially if you’re exiting a fixed home loan. But these may be offset by repayment savings when you switch home loans. Contact a AMA Finance Broker to discuss which fees would apply in your circumstances.
Not always. Sometimes your current lender will match or improve your rate to keep your business.