Our reverse mortgage calculator shows how your loan balance could grow over the years, so you can see the full picture before deciding if equity release is right for you.
Enter your property value, your age (or the youngest borrower’s age, if there’s more than one of you), the amount you’re considering drawing, and the interest rate, and the equity release calculator projects how your loan balance is likely to grow year by year as interest compounds alongside your estimated remaining equity.
Because nothing is being repaid along the way, this gives you an honest view of what a reverse mortgage could mean for your equity over 5, 10, or 20 years, before you make a decision that affects your home and your estate.
Straight Answers About Reverse Mortgages.
A loan that lets homeowners aged 60 and over borrow against their home’s equity without making regular repayments. Interest is added to the balance over time, and the loan is generally repaid when the home is sold, you move into aged care, or you pass away.
A legal protection on all regulated reverse mortgages since 2012, ensuring you or your estate will never owe more than your home’s net sale value, no matter how large the loan balance grows.
Since there are no repayments, interest is added to the balance and compounds over time. The longer the loan runs, the more it typically grows, which is exactly what this equity release calculator is built to show you clearly.
It can, depending on how you draw the funds and your overall assets; this is worth discussing with a financial adviser or Centrelink’s financial information service before proceeding.
A reverse mortgage is a private loan from a bank or lender. The Home Equity Access Scheme is a separate government loan for eligible Age Pension-age Australians, generally with different rates and conditions, worth comparing both with a broker.
Generally no, provided you meet the loan conditions, such as maintaining insurance and living in the home as your principal residence. A broker or lender can confirm the exact conditions on any specific product.
We can walk you through how a reverse mortgage could affect your equity over time, and compare it against alternatives like downsizing or the government’s Home Equity Access Scheme.
A reverse mortgage is one path forward. See how it compares against retirement planning and other equity options below.
Understand how a reverse mortgage could affect your equity over time, then get independent advice on whether it’s the right option for you.
Credit Hub Australia
Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.
In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.
“Position is for Mortgage broker on commission/contract basis.”
Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.
You will act on leads and existing database as provided and generate sales and ongoing relations.
Actively participate in team meetings and contribute to the overall success of the business
You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.
In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.
Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.
A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.
Self-motivated and capable of working independently, while also thriving in a collaborative team environment.
Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.
Ability to manage multiple tasks, stay organized, and work reliably without supervision.
A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.
At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:
Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group.
If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.
