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Reverse Mortgage

A reverse mortgage allows retirees to borrow money using the equity in your home as security. The loan may be taken as a lump sum, an income stream or a line of credit (or a combination of these options). The money can be used for any reasonable domestic purpose.

What are my payments?

Interest is charged like any other loan, but you don't need to make repayments while you live in your home. The loan must be repaid in full if you sell your home or die, in most cases, if you move into aged care.

What are the interest rates?

Typically, interest rates are higher on a reverse mortgage than a typical home loan.

How's interest charged?

You will be charged interest on the loan amount you borrow. Fees and interest are added to the loan balance as you go, and the interest compounds. This means you will pay interest on interest. For example, if you borrow $50,000 at say 8.5%, in 10 years you would owe $116,632 if you make no payments.

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More information can also be found on the Australia government's MoneySmart website:


What are my repayments?

How much can I borrow?

At today's lowest property finance rate of 2.79%,

you will pay approximately ...

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At today's lowest property finance rate of 2.79%,

you can borrow approximately ...

Apply Online Now

The information which you calculate from this Calculator is intended for use by you as a guide only. See more in our Disclaimer.

It is not an offer and has no legal effect on any contracts entered into by you ‘ the client’. This simulation and the resulting calculations do not constitute a loan application or offer. The figures and formulae used within this calculator may change at any time without notice.Should you apply for any Credit One product, we will make our own calculations and we will not necessarily take your calculations into account. All Interest rates are displayed ‘are guides ONLY’, repayments as a result of this simulation have no legal offering.Credit One accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculator.Information provided on this calculator does not constitute an offer of finance. Any loan request is subject to assessment against normal lending criteria. Fees and charges may apply. This calculation does not take into account any fees, charges or government taxes which may apply to either the calculation of the loan amount or the monthly repayments, such as GST or Luxury Car Tax (where applicable).

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