Reverse Mortgage (Equity Unlock Loan for Seniors) - CommBank

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REVERSE MORTGAGE (EQUITY UNLOCK LOAN FOR SENIORS)

A Reverse Mortgage lets you use the equity in your home to make retirement a little more comfortable without selling your home.

Residential Equity Rate

Interest rate6.60% PA

Comparison Rate6.71% PA

Make an appointment with a Home Lending Specialist.

Why choose a Reverse Mortgage?

Supplement your income

Supplement your income

Access additional funds without limiting your lifestyle or selling your home.

Access the equity in your home

Access the equity in your home

Borrow up to 40% of your property value to a maximum of $425,000, depending on your age, and benefit from the increase in your home’s value.

No regular repayments

No regular repayments

Defer repayments until you no longer live in the home. Interest, fees and charges will accumulate until the loan is repaid.

Flexible payment options icon

Flexible payment options

Take one lump sum or access funds online via NetBank, phone, at selected ATMs, EFTPOS, Australia Post EFTPOB terminals or at a CommBank branch.

No negative equity guarantee

No negative equity guarantee

Avoid leaving debt for your family, with our no negative equity guarantee.

Interest rates and fees

Interest rate

Comparison rate

6.60 % p.a.

6.71 % p.a.

  • $950 upfront establishment fee
  • $12 monthly loan service fee

 

Learn more about home loans

Which rate is right for me?

Which rate is right for me?

Whether you choose a fixed rate or variable rate mortgage will depend on your individual circumstances and financial goals.

Learn more
Get pre-approval lifestyle image

Conditional pre-approval

Get obligation-free conditional pre-approval on your home loan, so you can start looking with confidence.^

Learn more

Talk to us

Ready to apply or you would like to discuss your home loan needs?

Important information:

Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Other fees and charges are payable. 

An annual fee and eligibility criteria applies to Wealth Package and terms and conditions are available on application.

Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Fees and charges are payable.

If you do not find a property and accept our formal loan offer within 90 days of the conditional pre-approval date, we will need to obtain from you updated financials and confirm that the loan still meets your needs and financial objectives.

^ Provided the details initially agreed upon do not change, a Home Seeker loan approval guarantees the amount you can borrow, but not your interest rate. If you do not find a property and accept our formal loan offer within 90 days of the conditional pre-approval date, we will need to obtain from you updated financials and confirm that the loan still meets your needs and financial objectives.

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