Refinance / Cash-out Calculator

Refinancing means transferring an existing mortgage to another bank to obtain a better interest rate, cash rebate or cash-out funds. Cash-out refinancing means increasing the mortgage loan amount on an existing property to turn the appreciated value into cash. Both are common financial tools for Hong Kong homeowners and can reduce mortgage costs or unlock property equity for other purposes such as renovation, investment or working capital.

The biggest attraction of refinancing is the cash rebates and low-rate offers banks use to win customers. Some Hong Kong banks currently offer cash rebates equal to a percentage of the loan amount and waive certain fees. However, refinancing involves legal fees, valuation fees and early repayment penalties, so you must calculate carefully whether it is worthwhile. Cash-out refinancing requires sufficient remaining equity in the property and must meet the bank's debt servicing ratio requirements.

HK FinBox 的轉按 / 加按計算機，讓你輸入現有按揭餘額、物業估值、新利率、現金回贈、手續費及加按金額，計算轉按後的每月供款變化、套現金額及總節省金額。計算機幫助你全面評估轉按或加按的財務影響。

Before refinancing, check the penalty period with your existing bank; refinancing within the penalty period may cost several months' interest. Also, if the cash rebate exceeds a certain percentage of the loan amount, the HKMA may require it to be deducted from the loan amount. Compare terms from several banks and weigh the interest savings against all costs.