Reverse Mortgage Calculator Australia
Estimate Your Home Equity Release, Online
FREE Reverse Mortgage Australia guide from Seniors First. 30,000+ downloads since its first edition in 2008.
What is a Reverse Mortgage Calculator?
A Reverse Mortgage calculator is a free online tool that helps people over 55 estimate how much they can borrow using the equity in your home, and what the impact of that loan could be over the coming years. It’s especially useful for visualising how interest charges grow over time and how much equity you’ll have left in the future.
This Seniors First Reverse Mortgage calculator gives Australians a fast, realistic guide to releasing home equity for cash. Whether you want to boost retirement income, manage rising cost-of-living pressures, fund home renovations, or create a financial safety buffer, this calculator helps you model different borrowing options in minutes.
EXPERT TIP: Your result is an estimate only. Actual Reverse Mortgage borrowing power amounts vary by lender, age, property value, and location. A Seniors First specialist broker is best placed to confirm your personalised borrowing assessment, across the eligibility criteria of multiple lenders.
Table of Contents
Reverse Mortgage Calculator
How Our Reverse Mortgage Calculator Works
Our calculator uses a standard compounding interest formula to project the compounding growth effect of both interest costs, and home value over time. The chart display shows these outputs, and remaining net equity, in 5 years increments.
Any results are dependent on user input for key variables such as loan amount and interest rates. Although no one can predict exactly what your remaining home equity will be in the future, it's an effective tool for modelling scenarios.
The calculator is based on up-to-date parameters from across the Australian Reverse Mortgage market, including:
This gives you a practical borrowing range that reflects real lender policy in today’s market.
The amount of Reverse Mortgage loan depends on a number of key variables such as:
A Reverse Mortgage calculation will typically illustrate – at any given time during the loan term:
Please feel free to use the Seniors First online Reverse Mortgage Calculator to obtain your very own Reverse Mortgage calculation.
Why This Reverse Mortgage Calculator Is Helpful
Using the Seniors First Reverse Mortgage calculator gives you:
NOTE: This tool is ideal for people just beginning to explore home equity release. Your Seniors First broker will run more detailed calculations across different scenarios. For clarity, this Reverse Mortgage calculator is not the calculator our team use for compliance purposes. The Seniors First team use the ASIC Moneysmart Reverse Mortgage Calculator to conduct home equity projections for every customer who proceeds to application stage.
How to Use a Reverse Mortgage Calculator
(Simple Step-by-Step Guide)
A Reverse Mortgage calculator is a handy way to get an idea of how much equity you may be able to release, and how the loan may grow over time. While it won’t give you a personalised recommendation, it’s a great starting point to help you understand your options before speaking with a specialist.
Here’s a simple guide to help you use it with confidence.
Start by entering your age (or the age of the youngest borrower if you’re a couple).
Reverse mortgage lenders in Australia allow you to access more of your home equity as you get older, so this step influences the maximum loan size available.
Type in your best estimate of what your home is worth today.
You don’t need a formal valuation—recent sales in your area or online estimates are fine.
This helps the calculator work out a safe loan-to-value amount.
Next, you’ll enter the loan amount you think you might need.
This doesn’t have to be exact—many people test a few scenarios (for example, smaller amount for renovations or a larger amount to clear debt).
Most calculators let you enter the reverse mortgage interest rate. This helps estimate how the loan may grow over time. Because rates vary between lenders and may change in future, this number is only a guide.
You can find the current rates of reverse mortgage lenders here.
When you’ve entered all variables, you’ll see estimates showing:
- Maximum borrowing amount
- Future loan balance projections
- Estimated remaining equity over time
- Impact of interest and property growth assumptions
Remember, these are estimates only—real outcomes depend on lender policies, your personal financial situation, and future interest rate movements.
A calculator is helpful, but it can’t assess your goals, Centrelink impacts, or the fine details of each lender’s product.
A Seniors First specialist can help you:
- Understand your results
- Compare reverse mortgage lenders
- Explain all costs and protections
- Ensure the loan structure suits your long-term needs
Limitations of a Reverse Mortgage calculator (what it cannot show)
While this tool is a great first step, only a Seniors First specialist can confirm:
Reverse mortgages can be complex, but we make the process clear and stress-free. Checkout the video above, the Ultimate Guide to Reverse Mortgage Lender Comparison Australia.
Find out how you much you can really borrow, with a Reverse Mortgage broker
After using the calculator, most people want a more accurate personal eligibility assessment. Seniors First has helped more than 6,000 Australians understand their true reverse mortgage borrowing power as a first step towards releasing home equity for cash.
Your next steps:
Rated 4.9 stars on
“Sincere thanks to Andrew and Seniors First .. the loan has been life changing.”
Deborah Collett
You were professional and knowledgeable in all our dealings and kept us in the picture at every stage of the process to ensure a smooth Reverse Mortgage journey.
You also clearly communicated all the options available on Reverse Mortgages so we could make fully informed decisions.
Most importantly, you quickly responded to and answered all our questions ( and there were many ! )
We strongly recommend Angela at Seniors First to all potential clients.
nothing was too much trouble
Her high level of professionalism and empathetic manner was always reassuring and for that we were fortunate to have her as our broker
Adam walked us through each step of the process with ease, and we never felt alone at anytime. His recommendations were professional and unbiased and we didn’t hesitate to listen to his advice. I don’t know of any other bank or financial institution that would take the time and so much care, to ensure that their clients were happy. We certainly are, we can’t recommend Adam Oakley at Seniors First enough. It was a very big, life changing decision we had to consider and we feel grateful to have found Adam to see it through with us. Once again, thank you Adam for your time and patience. We couldn’t be happier. You are a true professional.
Between Seniors First and my Broker Adam Oakley they made the whole application from start to finish a breeze.
The Professionalism and Guidance I got from Adam to make sure I understood everything before he advised on the right product that best suited me.
I would highly recommend Seniors First and Adam to anyone interested in a Reverse Mortgage.
I had an outstanding experience working with Seema at Seniors First. She was professional, patient, and incredibly knowledgeable, guiding me through every step of the process with care and understanding. Seema made what could have been a stressful experience feel smooth and straightforward. Her communication was excellent, and she always took the time to explain things clearly. I truly appreciate her kindness and dedication — highly recommend Seema and Seniors First for anyone looking for honest and supportive financial advice.
You have given me outstanding service, guidance and help. You made clear to me the advantages, disadvantages and outcomes of a Reverse Mortgage.
You reassured me about the right timing and steps to take in the whole process.
I couldn't be more grateful and very satisfied knowing that my home loan is paid and I have enough to live comfortably.
FAQs About the Reverse Mortgage Calculator
A Reverse Mortgage calculator estimates how much equity you may be able to release from your home based on your age, property value, location, and lender LVR limits. It uses real rules from Australian reverse mortgage lenders to provide a realistic borrowing range. The exact amount you qualify for can only be confirmed through a personalised assessment with a Seniors First broker.
A Reverse Mortgage calculator also projects the effect of compounding growth on the home value and the loan, to provide an estimate of total interest cost and remaining home equity, over time.
Most Australian lenders allow borrowers aged 60+ to access 15%–20% of their property value, with this percentage increasing as you get older. The calculator gives you an estimate, but actual borrowing limits depend on the lender, your aims, property type, and long-term safety considerations.
A calculator provides borrowing estimates but does not display lender-specific interest rates. Reverse mortgage interest rates vary between lenders and can depend on your loan structure (lump sum, income stream, or cash reserve). Seniors First can compare options and check whether broker-only discounts are available.
No. Using a reverse mortgage calculator is free, private, and does not impact your credit score. It is simply a guide to your potential borrowing power, and to the overall potential cost of a Reverse Mortgage loan based on the inputs you enter into the calculator.
No. Age Pension rules are complex and depend on how you use the funds. However, a Seniors First broker can explain how a Reverse Mortgage may impact Age Pension eligibility, income tests, and asset tests during a one-on-one consultation.
The calculator is designed for Australians aged 60 and over, depending on lender policy. You must own residential property in Australia and plan to live in the home.
The Seniors First Reverse Mortgage Calculator is designed specifically for older Australians and uses current lender rules, which makes it more accurate than some other general online calculators. It may be quicker and easier to use than the government Reverse Mortgage calculator, and is therefore useful for fast and relatively simple projections. The ASIC regulations under NCCP require that brokers and industry professionals (including Seniors First) use the more detailed ASIC Moneysmart Reverse Mortgage calculator when conducting equity projections for, or on behalf of, borrowers.
From a mathematical point of view, both calculators use the same base formulas for compounding interest and should output the same results based on common inputs. However the government Reverse Mortgage calculator is regarded as more definitive as it includes questions about Age Pension, and can import directly current published interest rates from the lenders.
Industry Awards & Recognition
Senior's First has developed a reputation as an award-winning Reverse Mortgage broker, and a trusted name among public policy organisations, the aged care industry, senior’s groups, older borrowers and their families.
Offices
Suite 68, 89-97 Jones St Ultimo NSW 2007
Level 8, 90 Collins Street Melbourne VIC 3000
Level 38/71 Eagle Street Brisbane QLD 4000
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