Trusted Reverse Mortgage Brokers
Get the best reverse mortgage for you with your very own mortgage broker
Compare rates from 10+ lenders
Apply online
Fast reverse mortgage approval
No service fee
We’ll find the right reverse mortgage for you
Skip the paperwork headache. Our team of experts will search, compare, and curate offers from 10+ exclusive lenders and multiple reverse mortgage offers so you don’t have to. Personalised recommendations tailored to your goals. Fast, friendly, and unbiased service from a dedicated broker. Always free for our clients, from start to finish. Convert your home equity into cash with the most suitable reverse mortgage offer you can get in the market. At zero fees or commission, whatsoever!
How it works
Loan Tenure
The loan stays active as long as you live in the house.
Interest & Fees
Interest accrues daily and simply rolls onto your loan balance (no monthly bills).
Drawdown Options
You can choose how you want to receive funds: lump sum, regular monthly income, or as a line of credit.
Borrow Limit
You can only convert a part of your home equity into money, which typically starts at 15%-20% and increases each year from age 60 onwards, up to a maximum of 35%.
Our easy 4-step process
Free consultation
Share your basic details and talk with your dedicated financial advisor to help us understand your needs.
Tailored research
We’ll browse through a network of 10+ top lenders and multiple reverse mortgage options to curate the best ones for you.
Clear comparison
We walk you through features, costs, and benefits side by side, helping you apply for a reverse mortgage that best fits your needs.
End-to-end support
Your dedicated mortgage advisor will stick with you from start to finish, simplifying the entire reverse mortgage process, at zero cost to you.
Pros & cons of a reverse mortgage
Pros
Cons
Access cash without selling your home.
Interest accrues, reducing your equity over time.
No monthly repayments necessary.
May affect your aged-care entitlements.
Stay in your home for life.
Loan balance can grow quickly if you live long without adequate repayments.
Flexible drawdown options (lump sum, regular monthly income, line of credit).
Risky and not suitable if you plan on passing down the property to your family.
What is a reverse mortgage?
A reverse mortgage lets homeowners aged 60+ convert their home equity into cash, without any monthly repayments required. The entire loan amount (including interest) is repaid only when you no longer live in the home.
As long as you live in the home, no repayments are required, although you can contribute voluntarily.
It’s a great way to enjoy retirement, given that you don’t have any descendants or don’t intend to pass down the property to your descendants, or have a solid repayment plan in place.
Why use Koalify?
Our team of mortgage brokers help you access multiple reverse mortgage options from multiple lenders across Australia, allowing you to secure the perfect option that best fits your finances and needs.
Your dedicated mortgage advisor will stay with you from start to finish to simplify the complex reverse mortgaging process, and offer unbiased guidance to help you make the ideal decision every step of the way.
And the best part is we’re completely free of cost to you. Zero broker fees charged!
Am I eligible for a reverse mortgage?
You’re eligible for a reverse mortgage if you meet these requirements:
You’re an Australian citizen.
You’re aged 60+.
You own your home outright or nearly outright.
However, getting approved for the same involves lender-specific criteria that may or may not disqualify you.
Will I lose my home?
No, ownership stays with you as long as you stay in the home. However, you will lose it if you’re no longer in the home and are unable to repay the loan.
How much can I borrow?
Amounts vary by age, property value, and lender.
But the reverse mortgage limit in Australia typically starts at 15%-20% and increases each year from age 60 onwards, up to a maximum of 35%.
You can get in touch with us to know your exact limit for free.
What happens to my loan when I pass away?
If there is no alternative repayment plan, the loan will be repaid by the sale of your home. If your family is interested, they can pay off the loan themselves and keep any remaining equity in the property.
Can I make voluntary repayments?
Yes, you can voluntarily make repayments to reduce the loan balance.
