In Australia, as long as you own your own home you can get a reverse mortgage from as young as 55, however at that age you would be restricted to just 10% of the home value. As you grow older each year, you can get usually get a an extra 1% of the home value (depending on the lender).

For instance,  if you are 70 years old you would be eligible for 25% of the home value. For further assistance on whether you qualify and how much you could get, go here. 

This entry was posted on Friday, July 4th, 2008 at 7:10 pm and is filed under Reverse Mortgage Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.