There's no maximum age for a home loan in Australia, and lenders can't refuse you because of your age. But they must make sure the loan won't cause you hardship, and that includes considering how you'll repay it as you approach and enter retirement.
Why age matters to lenders
Responsible lending laws require lenders to check the loan is suitable. If a 30-year loan would run well past your expected retirement, lenders want to know how you'll repay it when your income drops.
Exit strategies
An exit strategy is your plan to repay the loan before or at retirement. Common examples:
- Downsizing: selling the home and buying something cheaper
- Selling an investment property
- Using superannuation lump sums
- Other savings or investments
Lenders usually ask for a written exit strategy with evidence, like super statements.
Loan terms
Some lenders may suggest a shorter loan term so the loan is paid off by a target retirement age. Shorter terms mean higher repayments, which affects borrowing power.
Retirement income
Lenders can consider:
- Age pension
- Superannuation income streams
- Rental income
- Investment income
Policies vary. Some lenders are more comfortable with retiree income than others.
Refinancing in your 50s or 60s
Many older borrowers refinance to get a better rate, consolidate debts or release equity. Lenders will apply the same exit strategy questions. A smaller loan relative to your property value makes this easier.
Reverse mortgages
For people aged 60 and over, a reverse mortgage lets you borrow against your home's equity without regular repayments. Interest compounds, and the loan is repaid when you sell or move out. See our existing guide on reverse mortgages.
The government's Home Equity Access Scheme is another option, providing fortnightly payments or lump sums secured against your home.
Tips
- Get your super statements ready.
- Write a clear exit strategy.
- Consider a shorter term if affordable.
- Talk to a financial adviser about how a loan fits your retirement plans.
Frequently asked questions
Can I get a 30-year loan at 55?
Possibly, with a credible exit strategy.
Can I use my super to pay off my mortgage?
Once you meet a condition of release, such as retirement after preservation age, you can generally access your super. Get financial advice first.
Is age discrimination allowed?
No. Lenders can't refuse because of age alone, but they must assess suitability.
Planning a loan later in life? Call Finfident on 0424 545 654. We'll find lenders who assess older borrowers fairly.
This article is general information only and doesn't take into account your objectives, financial situation or needs. Figures, rates and scheme rules are current as at October 2026 and can change. Finfident Finance Brokers (ABN 94 679 280 801) is Credit Representative 569374 of Outsource Financial Pty Ltd (ACN 131 090 705), Australian Credit Licence 384324.