Pueblo Colorado Reverse Mortgage
Your Pueblo Reverse Mortgage Guide
Welcome to Pueblo
If you are a Pueblo homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Pueblo, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.
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.
Pueblo 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/
Pueblo Colorado Frequently Asked Questions
How does a Reverse Mortgage work in Pueblo Colorado?
A reverse mortgage in Pueblo, 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 Pueblo, 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 Pueblo?
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 Pueblo?
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 Pueblo Colorado
Welcome to Pueblo, Colorado! This vibrant city is nestled in the foothills of the Rocky Mountains and is home to over 110,000 people. Pueblo has a rich history and culture, with its roots dating back to the early 1800s.
Pueblo is a great place to explore and experience the beauty of the Rocky Mountains. There are plenty of outdoor activities to enjoy, from hiking and biking trails to fishing and camping. For those looking for a more urban experience, there are plenty of restaurants, shops, and entertainment venues to explore.
The city is also home to several parks and community centers, such as the Pueblo City Park, the Pueblo Zoo, and the Pueblo Riverwalk. If you're looking for a great place to take the kids, Pueblo has several local schools, such as Centennial High School and East High School.
No matter what you're looking for, Pueblo has something to offer. Come explore the city and experience the beauty and culture of Pueblo!
Things To Do In Pueblo
Pueblo, CO Neighborhoods
Downtown, Bessemer, Lake Minnequa, Mesa Junction, Aberdeen, Highland Park, Mineral Palace, Northside, Sunset, Belmont, East Side, Ridge, State Fair, Club, El Camino - Las Vistas, Grove, Beulah Heights,Top Sights in Pueblo, CO
Street Names in Pueblo, CO
Pueblo, CO Zip Codes
81001, 81002, 81003, 81004, 81005, 81006, 81008, 81009, 81010, 81011, 81012,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 Pueblo
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 Pueblo. 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 – Pueblo
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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.