The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Here are the key features and details you need to know about Household Capital's mortgage products.
| Feature | Details |
|---|---|
| Borrowing amount | The amount of home equity you can borrow depends on your age and the value of your home. Generally, the older you are the more you can borrow. |
| Borrower age | You need to be at least 60 to get a reverse mortgage with Household Capital. |
| Repayment options | You can repay a Household Capital reverse mortgage when you or your estate sell your property. You also have the opportunity to repay the loan in instalments earlier than this. |
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
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