LOAN CALCULATORS & TOOLS
When it's time to retire you want to enjoy and have the best time of your life! Establishing a reverse mortgage loan is a great way to increase the joy and comfort level above and beyond the level provided by your savings, superannuation, or investments.
Reverse mortgages are available to people over the age of 60 who own their residential property. These loans allow you to access the equity in your home to fund your additional financial needs through your retirement. Funds can also go towards travel, medical expenses, and other lifestyle requirements, including deposits for children wishing to buy property.
Unlike a standard home loan, reverse mortgages do not require any monthly payments to be made. Instead, the interest that would normally be payable is added to the principal amount of the loan and when the home is eventually sold the loan amount including the accumulated interest is deducted from the proceeds of the sale. A reverse mortgage therefore does not impact your current cashflow.
Generally you will be able to borrow between 15% and 40% of the value of your home depending on how old you are.
There are some loans which provide a No Negative Equity Guarantee (NNEG) meaning that should your property sell for less than the amount of the loan you will not be required to pay the difference.
There are a number of different reverse mortgages available. This is an important time of your life and you deserve to enjoy it. Enquire now to have a Time Finance mortgage broker help you choose the most appropriate loan based on your individual circumstances and requirements.
Begin the time of your life, enquire now!
With over 650 different loan products in the market from all lenders, it can be a daunting time to go shopping for a home loan if you are doing it yourself or don't know what to look for. The benefits of why you should use a professional Time Finance Mortgage Broker are guaranteed.
Make use of time, let not advantage slip.
William Shakespeare
Reverse Mortgages for Seniors
- Retire & have the time of your life
- Access funds for travel, medical etc
- Get up to 40% of your property value
- Help children with deposits
- No monthly repayments
- Pay off loan when you sell
Have a professional Time Finance mortgage broker contact you to get your loan requirements arranged on a no charge, no obligation basis.
Call 1300 833 839 or enquire online ›››
