Denver Colorado Reverse Mortgage
Your Denver Reverse Mortgage Guide
Welcome to Denver
Are you a homeowner in Denver looking for financial support in retirement? A reverse mortgage loan may be the solution you’ve been seeking. This type of loan allows homeowners aged 62 and older to access their home equity without the obligation to make monthly payments. Instead, the loan is repaid when the borrower sells the home or passes away. Reverse mortgage loans can provide a stable financial foundation and allow seniors to age in place with the comfort and security of their own home.
Reverse Mortgage
Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.
Reverse Mortgage for Purchase
Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.
HECM to HECM Refinance
A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.
Cash Out Reverse Mortgage
A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.
Jumbo Reverse Mortgage
A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.
Denver Approved Reverse Mortgage Counseling Agencies
HUD Approved HECM Counseling Agencies
The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:
- HUD Office of Housing Counseling Website: www.hud.gov/program_offices/housing/sfh/hcc
- HUD’s Interactive Voice System: (800) 569-4287
National Counseling Agencies
ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/
Money Management International
(877) 908-2227
https://www.moneymanagement.org/
Credit.org
(800) 947-3752
https://www.homeownership.org/
National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/
Greenpath
(888) 860-4167
https://www.greenpath.com/
Navicore
(866) 855-7736
https://navicoresolutions.org/
Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/
NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/
Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/
Colorado Counseling Agencies
Agency Name: BOULDER COUNTY HOUSING & HUMAN SERVICES,
AKA BOULDER COUNTY PERSONAL FINANCE PROGRAM
Agency ID: 90468
Address: 3460 N. BROADWAY
BOULDER, CO 80304-1824
Phone: (720) 564-2279
Website: https://www.bouldercountypfp.org/
Agency Name: CITY OF AURORA COMMUNITY DEVELOPMENT DIVISION
Agency ID: 81141
Address: 15151 E ALAMEDA PKWY
AURORA, CO 80012-1555
Phone: (303) 739-7914
Website: https://auroragov.org/
Agency Name: DOUGLAS COUNTY HOUSING PARTNERSHIP
Agency ID: 84681
Address: 9350 HERITAGE HILLS CIRCLE
LONE TREE, CO 80124-5518
Phone: (303) 784-7857
Website: www.douglascountyhousingpartnership.org/
Agency Name: GREENPATH FINANCIAL WELLNESS
Agency ID: 84244
Address: SUITE 3000 OFFICE O
2850 MCCLELLAND DR
FORT COLLINS, CO 80525-2586
Phone: (888) 860-4167
Website: https://www.greenpath.org/
Agency Name: HOUSING SOLUTIONS FOR THE SOUTHWEST
Agency ID: 80708
Address: 295 GIRARD ST
DURANGO, CO 81303-6828
Phone: (970) 259-1086
Website: https://www.swhousingsolutions.com/
Agency Name: NEIGHBOR TO NEIGHBORAgency ID: 80706
Address: 1550 BLUE SPRUCE DR
FORT COLLINS, CO 80524-2015
Phone: (970) 488-2364
Website: https://www.n2n.org/
Agency Name: NORTHEAST DENVER HOUSING CENTER
Agency ID: 80213
Address: 1735 GAYLORD ST
DENVER, CO 80206-1208
Phone: (303) 377-3334 ext 229
Website: https://www.nedenverhousing.org/
Denver Colorado Frequently Asked Questions
How does a Reverse Mortgage work in Denver Colorado?
A reverse mortgage in Denver, Colorado, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.
To obtain a reverse mortgage in Denver, Colorado, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.
Do I make mortgage payments on my Reverse Mortgage in Denver?
No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.
What qualifies for a reverse mortgage in Denver?
A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:
How do I receive my money when I get a reverse mortgage?
With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.
About Denver Colorado
Welcome to Denver, the Mile High City! Home to over 700,000 people, Denver is a vibrant and diverse city with a rich history. Founded in 1858, Denver was once a small mining town, but has since grown into a thriving metropolis.
Denver is the perfect place to explore and experience the great outdoors. From the iconic Rocky Mountains to the lush green parks, there is something for everyone. Take a hike in the foothills or enjoy a picnic in one of the many city parks. Denver also has a variety of community centers and activities for all ages.
For those looking for a more urban experience, Denver has plenty to offer. From the bustling downtown area to the unique neighborhoods, you can find something to do no matter what your interests are. From shopping and dining to art galleries and museums, there is something for everyone.
For families, Denver has a variety of schools, both public and private. From elementary to high school, there is something for everyone. Denver is also home to several universities, making it a great place to further your education.
No matter what you’re looking for, Denver has something for everyone. Come explore the Mile High City and see what makes it so special.
Things To Do In Denver
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Top Experiences in Denver, CO
 Denver Art Museum |
Denver Botanic Gardens |
Denver Zoo |
Denver Museum of Nature & Science |
Coors Field |
Larimer Square |
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Kentwood Real Estate DTC |
Colorado State Capitol |
Day trip to Golden |
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Travel Articles in Denver, CO
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Street Names in Denver, CO
Denver, CO Zip Codes
80014, 80019, 80022, 80110, 80123, 80201, 80202, 80203, 80204, 80205, 80206, 80207, 80208, 80209, 80210, 80211, 80212, 80216, 80217, 80218, 80219, 80220, 80221, 80222, 80223, 80224, 80227, 80230, 80231, 80235, 80236, 80237, 80238, 80239, 80243, 80244, 80246, 80247, 80248, 80249, 80250, 80251, 80256, 80257, 80259, 80261, 80262, 80263, 80264, 80265, 80266, 80271, 80273, 80274, 80281, 80290, 80291, 80293, 80294, 80299, 80640, 80642,Reverse Mortgage Regulations
HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”
Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”
NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.
NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions. They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.
Reverse Mortgage Lenders near Denver
Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.
We are proud to serve the residents of Denver. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.
Reverse Mortgage Resource Center – Denver
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Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.