9 date ideas you could afford after refinancing your home loan

By Evlin DuBose · · 4 min read
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Couple excited to go on a date with money they saved refinancing their home loan

Let’s be real: time with a special someone is excellent. And spending smart so you can spend more time with said loved one? Priceless.

For many Australians, the biggest expense they have is their home loan, so finding ways to save money on repayments makes a huge difference to our household budget. 

But if you refinance your mortgage to something cheaper, how much money could you actually save – and what amazing dates can you go on with the extra cash?

How much money can you get back refinancing your mortgage?

There are several ways to save money by refinancing your home loan. 

  • Jump to a lower interest rate. If you’re making principal & interest payments, lowering your interest rate could save you hundreds of dollars monthly.
  • Jump to a lower LVR. Your loan-to-value ratio (LVR) determines your home loan interest rate. If you refinance to a lower LVR tier, you could get a lower rate. 
  • Jump to a lower fee mortgage. Those hidden fees add up! Switching to a low-fee mortgage can help you pocket some extra money yearly.
  • Jump onto extra repayments or offsets. Features like free extra repayments or offset accounts can decrease the interest you pay long-term.
  • Jump onto a cashback offer. A few home loan lenders still offer up to $2,000 cashback for refinancers – an enticing perk.

Any one or more of the above can save you money, but how much you save will depend on your new and existing home loan costs. 

For example, refinancing to a lower interest could save you $100 to $300 a month, whereas paying an extra $50 on your monthly repayments could save you over $20,000 in interest over the life of your home loan. Even nabbing a refinance cashback offer could put an extra $2,000 in your bank account.

So let’s say you refinance and get an extra $200 a month, or an extra $2,000 as a one-off payment. That leads to the obvious question come February 14th…

What romantic date ideas could you go on with this extra money?

Happy couple excited to go on a Valentine's Day date

Date Idea #1: Paint and Sip

  • Get tipsy and a painting
  • Cost: $45 - $145 per person

An activity that gives you a souvenir? Heck yes. Paint and Sips aren’t just for corporate mixers – they make a great first, second, or 100th date idea for you and your special someone. For $200, you could easily do an upscale Paint and Sip or a cheaper one, plus dinner and a movie of your choice. 

Date Idea #2: Rock Climbing & Picnic

  • Adventure and a view
  • Cost: Depends!

You can go big or small with this adventurous date idea. Take your special someone to a local rock climbing gym, or harness up and go outdoors with your favourite picnic meal. Find a nice view with nice sunlight and kick back. Relax!

Date Idea #3: IKEA & Decorate a Space

  • Interior Design Narnia
  • Cost: Depends!

Nothing is more tempting than IKEA and a budget. Since you’ve saved some money on your home loan, why not take a special someone to the Swedish furniture store and pick up some new things to decorate your space together? 

Date Idea #4: Concert Night

  • Vibe to incredible music
  • Cost: $20 - $150 per person

Australia has some amazing local musicians, and now that the world is opening up, greats from abroad have come to perform, too! Why not take your sweetheart out for some live music? Bonus points if it’s a band you both like. Extra bonus points if you’re trying something new!

Date Idea #5: Burlesque or Drag Show

  • Racy risque fun
  • Cost: $50 - $300 per person

The hottest drag show tickets get you and your bae VIP seating (just don’t sit in the front if you don’t want to participate – just saying). But how good is a racy, fun, rude time with a slapdash of songs, glitter, and humour? Mind the boa feathers.

Date Idea #6: Ghost Tour

  • “Oh no I’m scared, hold my hand”
  • Cost: $30 - $50 per person

If you and your person are into the ooky-spooky vibes of haunting buildings, creepy stories, and walking in the dead of night, why not try a ghost tour? It’s definitely a first-date ice breaker. 

Date Idea #7: Stargazing

  • Appreciate the starry majesty of the universe
  • Cost: Depends! (Or $20 - $40 per person for a planetarium)

Australia has some pretty amazing places to stargaze! From national parks to cosy coastal coves, there are plenty of spots to kick back and admire the stars. If you live in a capital city, why not visit your local planetarium for a guided tour?

Date Idea #8: Hot Air Balloon, Hang Gliding, or Sky Diving

  • The Ultimate Trust Fall
  • Cost: $200 - $500 per person

A fancy date idea if ever there was, taking your loved one up in a hot air balloon, tandem hang gliding, or sky diving can be breathtaking, thrilling, and romantic all in one. It’s on the more expensive side of romance, but you’ll certainly get your money’s worth of memories! “Look, honey, I can see our house.”

Date Idea #9: Weekend away

  • Mini-vacation, woohoo
  • Cost: $500 - $2000

If you’ve got significant cashback or savings from refinancing, and you don’t feel like putting it towards your home loan, then a mini-vacation can be an amazing way to celebrate. Whisk your sweetheart away for the weekend to a coastal beach, sweeping mountain, or quiet forest. Explore a different city! Be tourists in your own country. You’ve earned it.

Compare refinance home loans in the table below to see if you could switch and save for your next date.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 30 October 2024 Important disclosures and comparison rate warning*

Refinance home loan comparisons on Mozo

Promoted

  • Fixed Home Loan

    • Owner Occupier
    • Principal and Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    5.93 % p.a.
    Initial monthly repayment
    $2,852
    Go to site

    Competitive fixed rate on up to a 30 year loan term. No application fees to pay. Additional repayments up to $20,000 per year without penalty. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Fixed Express Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $2,852
    Go to site

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).

  • Fixed Home Loan

    • Owner Occupier
    • Principal and Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    5.93 % p.a.
    Initial monthly repayment
    $2,852
    Go to site

    Competitive fixed rate on up to a 30 year loan term. No application fees to pay. Additional repayments up to $20,000 per year without penalty. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.

  • Fixed Express Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $2,852
    Go to site

    Lock in a low 2 year fixed rate with the Mozo award winning Home Lender of the Year. Available for live-in borrowers with just a 10% deposit required. Free extra repayments (up to 20% in fixed period), free redraw and partial offset available. $10 monthly service fee. Aussie support centre. Fast approvals. Up to 6 free offset accounts (T&Cs apply).

  • Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.59 % p.a.
    Fixed 5 years
    Comparison rate
    6.27 % p.a.
    Initial monthly repayment
    $2,867

    Get repayment certainty with HSBC’s low 2 Year Fixed Rate Home Loan. Make up to $10,000 of extra repayments a year. The option to split your home loan between fixed and variable. Plus, score $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 28 February 2023 and settle by 30 April 2023.

  • Fixed Rate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    5.74 % p.a.
    Fixed 3 years
    Comparison rate
    6.81 % p.a.
    Initial monthly repayment
    $2,915

    Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.

  • Variable Home Loan

    • Owner Occupier
    • Principal and Interest
    Interest rate
    5.98 % p.a.
    Variable
    Comparison rate
    6.02 % p.a.
    Initial monthly repayment
    $2,991
    Go to site

    Competitive variable rate on up to a 30 year loan term. No application fees to pay. Unlimited additional repayments. Free online redraw. Optional 100% offset feature ($10/month) 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.

  • Unloan Variable

    • Owner Occupier
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.90 % p.a.
    Initial monthly repayment
    $2,995
    Go to site

    Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.

  • Discounted Home Value Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.99 % p.a.
    Initial monthly repayment
    $2,995

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Receive $3,288 cashback when you refinance an existing home loan. Minimum loan amount of $250,000, settle within 120 days from applying.

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.22 % p.a.
    Initial monthly repayment
    $3,027
    Go to site

    Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.

  • Mortgage Simplifier

    • LVR<80%
    • Owner Occupier
    • Principal & Interest
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.17 % p.a.
    Initial monthly repayment
    $3,043

    Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.

  • Elevate

    • Owner Occupier
    • Principal & Interest
    • <80% LVR
    Interest rate
    6.18 % p.a.
    Variable
    Comparison rate
    6.18 % p.a.
    Initial monthly repayment
    $3,056

    Get competitive rates on loan terms of 5 to 30 years with the Aussie Elevate Home Loan. Structure your loan with up to five splits. Make additional repayments (T&Cs apply). Offset accounts available. Unlimited redraw using your online banking account. Choose from weekly, fortnightly or monthly payments For loan amounts from $10,000 to $5 million.

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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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