Information is crucial if you are considering a reverse mortgage loan and that includes understanding a reverse mortgage calculator and how it can work for you.
Paul will give you an example of your loan worked out on the ASIC reverse mortgage calculator, and can then explain the implications for you in terms of your eligibility and the best use of the equity available.
With our reverse mortgage projections you can discover your eligibility and the best use of the equity released.
Paul will also help you with
Current Regulations
There are some restrictions on who can receive these kinds of loans. A reverse mortgage is well-regulated by the Australian government, and it is best to consider all the current rules that surround this process.
Consideration of any other people involved
Melbourne Reverse Mortgages require the involvement of all persons on the property title. And sometimes consulting your immediate or extended family can help inform your decision.
Other financial considerations
In a small number of applications, a reverse mortgage may affect Age Pension Entitlements.
The loan choices
There are different costs associated with how you take the loan, and each choice supports different needs
- regular income stream
- line of credit
- lump sum, or
- combination of these
Explore all these guidelines with your trusted advisor before you begin.
Contact Paul: A reverse mortgage can be quite confusing for a first-time applicant, so it is helpful to secure the support of a real person who can walk you through it. Paul is available to answer any questions you may have.
Your Equity Projection
will then be based on
Your home’s current value
Your home’s capital growth rate
The interest rate of the reverse mortgage loan
Your age
Overall loan term
You will also receive a detailed
projection of these implications for your future
The amount you owe to the reverse mortgage lender
Your home’s future value
Your future equity in your home
There is no obligation and your details are secure.
This is not an application for a loan, just a request for the details of what is possible for you with a reverse mortgage and what you should know about how it will play out over the years.
Paul will work with you to clarify your goals and to find the best balance of interest rates, loan costs and terms.
You can, of course, contact Paul directly to get a detailed discussion or your personal needs and advice based on his years of work with seniors’ finance and the people of Melbourne and the Peninsula.
This is not just about a loan. It is about creating your best future.
DOWNLOAD OUR PRACTICAL GUIDE TO REVERSE MORTGAGES IN AUSTRALIA
Understand Reverse Mortgage Solutions
Choose the best structure and Lender
The process: Application to Settlement
More than two decades’ experience consulting with senior Australians and Self-Funded Retirees regarding specialist credit products designed to support retirees.
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