Household Capital Refinance Variable Home Loan

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If you're over 60 and have a mortgage but want to refinance to a reverse mortgage for your retirement, check out the Household Capital Refinance Variable Home Loan.

It's hard for older borrowers to refinance a mortgage, especially when they want to use some of their equity to retire. The Refinance Variable Home Loan from Household Capital allows older borrowers to do just that: switch from a traditional mortgage to a reverse mortgage.

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Expert review

Richard Whitten

Review by


Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.

Expert review

If you're an older borrower and you've built up a fair amount of equity, you can use the Refinance Variable Home Loan to cover your retirement costs while still paying off your existing mortgage.

It's a reverse mortgage you can refinance into. The lender receives its full payment plus interest when you pass away or sell the property. But you can choose to make regular repayments as well.

About this loan

What are the features and benefits of the Household Capital Refinance Variable Home Loan?

  • Loan amount. The Household Capital Refinance Variable Home Loan has a minimum loan amount of $50,000. There is a maximum loan amount of $1,000,000.
  • Loan-to-value ratio. You can borrow up to 50% of the equity in your home.
  • Eligibility. You must be at least 60 years of age to qualify for this loan.
  • Repayment flexibility. The Household Capital Refinance Variable Home Loan has flexible repayment options. You can repay the loan earlier if you wish.

What fees and charges come with this loan?

  • Application fee. 1.5 percent on drawn amount. This fee is charged at application and is a percentage of the amount you draw down.

How to apply

If you think the Household Capital Refinance Variable Home Loan is right for you or wish to learn more, click the green button above. You'll be directed to the Household Capital website, where you can talk to a finance specialist.

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)

Get a competitive variable interest rate with no application fee or ongoing fees.

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