About
Cert IV in
Finance and Mortgage Broking
Bachelor of
Economics
Masters of
Commerce
Australian
Credit License
Bachelor of
Business
Diploma of
Finance Broking Management
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What is a Reverse Mortgage?
It is a loan that allows you to convert some of the equity accumulated in your home into cash without selling up or paying a monthly mortgage. You could qualify for a reverse mortgage if you are 55 years or older and own your own home.
You receive payments from the lender based on the equity in your home. The amount of these payments depends on your age, your house’s value and the prevailing interest rate. In addition, the payments can be in lumpsum, instalments or credit.
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Reverse Mortgage vs
Traditional MortgagesThe main difference between a reverse versus a traditional mortgage is that the homeowner is not required to make monthly payments. Rather, the fees and interest are included in the overall outstanding balance. In a typical scenario, the loan is paid off when the house is sold or the owner moves out or passes away. However, if your wish to make payments you can do that at no extra cost.
Bear in mind that a reverse mortgage can reduce the equity in your home over time. If you are interested in a reverse mortgage, approach a reputable adviser such as ourselves.
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How does a Reverse
Mortgage work?A major benefit of a reverse mortgage is you have access to ready cash by tapping into the equity in your home. The payments can cover daily expenses, be used for improvements or even pay off debt.
A major benefit is that you do not have monthly mortgage payments to worry about. Payments can be as a lump sum or regular schedule instalments. The payments are guaranteed if you continue to meet the requirements. Moreover, the money you receive goes even further as it is tax-free.
We will deliver a tailored solution to
comfortably finance your retirement
living and personal objectives.
We will ensure you get the most suited solution,
to meet your unique situation every time.
