Calculators
Reverse mortgage calculator
Use this calculator to explore an indicative scenario before speaking with a broker.
01The home
Age of the youngest borrower
% p.a.
% a year
Equity in 15 years
—
Loan in 15 years—
Home in 15 years—
Illustrative maximum draw—
Over timeBalanceComparison
$0$0$0$0
StartHover to scrub
Balance—
Comparison—
Assumptions
Interest compounds monthly and no repayments are made.The no-negative-equity guarantee means you would not repay more than the home sells for. Equity is shown as zero if the loan would otherwise pass the value.The maximum draw is an illustration: 20% at age 60, then about 1 percentage point for each extra year, capped at 45%. A lender sets its own limit.A reverse mortgage is not assessed with the 3% serviceability buffer.
The calculations do not take into account all fees and charges. Results are estimates only and should not be relied on to make a loan decision. Interest rates and other costs can change. Calculator results are not an offer of credit or a pre-approval. Discuss your individual situation with a qualified Australian Credit Licensee or authorised Credit Representative.
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