Reverse mortgage calculator
Here we explore a different type of loan – the reverse mortgage. A reverse mortgage allows you to borrow money using the equity in your home as security, and it can be taken as a lump sum, a regular income stream, a line of credit or a combination of these options. As with any other loan, interest still applies but you don’t have to make repayments while you live in your home. The interest compounds over time and is added to your loan balance, you remain the owner of your house and can stay in it for as long as you want. This can be an attractive way for retirees to supplement their retirement income in situations where the equity in their home is substantial. With our reverse mortgage calculator, just follow the instructions regarding your borrowing power, payment option, property and mortgage details and then view your results – you’ll see the way the property value, loan balance and remaining equity track together over time.
- Borrowing power calculator
- Budget planner
- Comparison rate calculator
- Compound interest calculator
- Credit card calculator
- Extra repayment calculator
- Fortnightly repayment calculator
- Home loan offset calculator
- How long to repay calculator
- Income annualisation calculator
- Income gross-up calculator
- Income tax calculator
- Interest only mortgage calculator
- Introductory rate loan calculator
- Leasing calculator
- Loan comparison calculator
- Loan repayment calculator
- Lump sum repayment calculator
- Mortgage switching calculator
- Property buying cost calculator
- Property selling cost calculator
- Rent vs buy calculator
- Reverse mortgage calculator
- Saving calculator
- Savings goal calculator – how long to save
- Savings goal calculator – how much to deposit
- Split loan calculator
- Stamp duty calculator
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