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Household Capital Reverse Mortgage

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Household Capital can help you access the equity in your home to finance your retirement.

Are you 60 years of age or older and looking to withdraw some of the equity from your home? If so, you may want to consider a reverse mortgage from Household Capital. Read on to learn more about the product and find out if it's right for you.

Product NameHousehold Capital Reverse Mortgage Variable Home Loan
Interest Rate TypeVariable
Interest Rate (p.a.)5.15%
Comp Rate^ (p.a.)5.21%
Minimum Loan Amount$50,000
Maximum Loan Amount$1,000,000
Maximum LVR50%
Maximum Insured LVR50%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityNo
Split Loan FacilityNo
Loan PortableYes
Extra RepaymentYes
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee1.5 percent on drawn amount
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$0


  • Competitive interest rate
  • Flexible repayments


  • There is an application fee

What do I need to know about this loan?

Reverse mortgages are for older Australians who own their own homes and need some money to fund their retirement or other expenses.

It works like this: You borrow money against the value of your own home, either as a regular payment or a line of credit. You are charged interest on what you've borrowed.

But unlike traditional mortgages, you don't make regular repayments. Instead, interest is calculated and added to the original loan amount, then the total amount is due when the property is sold.

Before taking out a reverse mortgage, it's important to seek independent financial advice on your retirement objectives and needs.

How do reverse mortgages work?

What are the features and benefits of the Household Capital Reverse Mortgage?

  • Loan amount. The Household Capital Reverse Mortgage has a minimum loan amount of $50,000. There is a maximum loan amount of $1,000,000. You can borrow up to 50% of the equity in your home.
  • 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 a reverse mortgage with this lender.
  • Repayment flexibility. The Household Capital Reverse Mortgage has flexible repayment options. You can repay the loan earlier if you wish or wait until you sell the property (or pass away).

What fees and charges come with this loan?

  • Application fee. 1.5 percent on drawn amount. This fee is charged as a percentage of the amount you draw down and is added to the balance of your loan.

How do I apply for this loan?

If you think the Household Capital Reverse Mortgage is the right product for you, click the green button above. You'll be directed to the Household Capital website, where you'll be guided through your application and can talk to a finance specialist from the lender.

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Household Capital Reverse Mortgage Variable Home Loan

  • Interest Rate

    5.15% p.a.

  • Comparison Rate

    5.21% p.a.

  • App Fee / Annual Service Fee

    1.5 percent on drawn amount / $0

  • Max LVR


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