Home loan expert, Baulkham Hills - specialising in Reverse Mortgages
For many people, accessing the equity that exists in your home can help to finance transitions into later stages of life when you may be asset rich, but cash poor.
A reverse mortgage allows you to harness your home's equity, and take out a lump sum amount or regular payments from your bank. The biggest advantage for a reverse mortgage is that the mortgage, interest and all fees do not need to be repaid until your home is sold.
While it's best to speak to an expert, like Kevin Gray, your Mortgage Choice broker in Baulklham Hills, who specialises in Reverse Mortgages, we do have a Reverse Mortgage calculator - the results will give you information on the total value of your mortgage, taking into account both lump sum and regular payments. You can also track the amount of equity remaining in your home as the years progress.
Reverse mortgages aren’t always suitable for everyone; fees, interest, equity clauses and average house price increases can play a big role in deciding on a reverse mortgage.
To determine if a reverse mortgage is the right strategy for you and your family, your local Mortgage Choice broker in Baulkham Hills can help you to explore your options with expert and friendly advice.
Call Kevin Gray to talk about your Reverse Mortgage options on 0424 080 632.