# Reverse Mortgage Calculator

## Reverse Mortgage Calculator

Years
Years

#### How much would you like to borrow?

You may be able to borrow up to a maximum of based on your age, home value.
7.82% p.a. is the current variable interest rate and is subject to change. Interest on your Reverse Mortgage will be compounded monthly.
View Loan Projection Table

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#### Loan Projection Table

Year Age of Youngest Borrower Loan Amount (including interest) Estimated Home Value Equity Remaining

## Notes for the table illustrations

1. Please note that these examples are for illustrative purposes only and give no guarantees as to any future equity that you may have in your property.
2. Equity Remaining is based on the estimated property value less loan balance including interest. This figure does not allow for any costs that may be incurred during the sale of the property.
3. This example assumes a variable interest rate of 7.82% p.a. compounded monthly, including applicable fees or charges and no repayments being made. The interest rate used is for illustrative purposes only, and is not intended to be indicative of the interest rate offered by Heartland Seniors Finance. 7.82% p.a. is the current Heartland Reverse Mortgage variable interest and is subject to change. Different interest rates may apply. Different loan amounts, interest rates, terms and conditions, and fees and charges, will result in different repayment amounts.
4. The value of your home may not increase over the term of the loan and could even fall. This may mean that the amount of equity remaining in your home (the difference between the home’s value and the outstanding loan balance) may be substantially less at the end of the loan than it was at the outset. However, Heartland Bank offers you the No Negative Equity Guarantee which means that you will not have to pay us back more than the net sale proceeds of the property, even if this amount is less than the outstanding loan balance.
5. An Arrangement Fee of \$1275 and applicable valuation fee will be deducted from this amount. The net amount would represent your initial drawdown under the loan.
6. The figures assume any future draw downs are made by using the Heartland Reverse Mortgage Express Top Up option
7. Please note that independent legal costs will also apply.
8. Heartland Bank's lending criteria, terms and conditions, fees and charges apply.