Reverse Mortgage Calculator
Information is crucial if you are considering a reverse mortgage loan. This reverse mortgage calculator from The Australian Securities & Investments Commission (ASIC) is a practical way for you to project the possible effect of unlocking your home equity over different loan terms.
Your RMFS representative will give you an example of your loan worked out on the ASIC calculator.
Even though there’s no sure way to predict what could happen in the future, a reverse mortgage calculator is a practical tool to project what could be the result if key variables are added such as:
Your home’s current value
Your home’s capital growth rate
The interest rate of the reverse mortgage loan
Overall loan term
Using a reverse mortgage calculator, you can learn more about the following key information about your home equity loan:
The amount you owe to the reverse mortgage lender
Your home’s future value
Your future equity in your home