Reverse Mortgage Calculator

Find out how a Heartland Reverse Mortgage could work for you.

First, work out how much you could borrow

Number of borrowers

Minimum age 60
Minimum age 60
Minimum property value $300,000

Do you want to protect a portion of the equity in your home?

Find out more here

Maximum 50%
Next, decide how much you’d like to borrow
You may be able to borrow up to a maximum of based on your age, home value and the portion of equity in your home you wish to protect.
An initial drawdown fee of and an equity protection fee of will be deducted from this amount.

Per annum – compounded monthly

7.82% p.a. is the current Heartland Reverse Mortgage variable interest and is subject to change.

Top up your loan later
Drawdown after
Top up can not be applied with current parameters.

How your equity and loan could look over time

House Value - Less Equity Protection
House Value - Less Equity Protection
Estimated Unprotected Home Value
Equity Remaining
House Value - Less Equity Protection
House Value - Less Equity Protection
Estimated Unprotected Home Value
Loan Balance
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Year Age of youngest borrower Topup (including fee) Loan Amount (including interest) Estimated Home Value Estimated Unprotected Home Value Equity Remaining

Notes for the graph and 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 fixed interest rate of 7.82% p.a. compounded monthly, including applicable fees or charges and no repayments being made. The interest rate used is an example for illustrative purposes only, and is not intended to be indicative of the interest rate offered by Heartland Seniors Finance. 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. The drawdowns under the Express Top Up facility are assumed to be to be drawn at the end of the year applicable based on the value entered in the Drawdown fields. A $125 fee will be applied to each drawdown under this facility.
  6. 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.
  7. The figures assume any future draw downs are made by using the Heartland Reverse Mortgage Express Top Up option
  8. Please note that independent legal costs will also apply.
  9. Heartland Bank's lending criteria, terms and conditions, fees and charges apply.

Want to get in touch with one of our Reverse Mortgage Specialists?