A reverse mortgage is a unique financial tool designed for homeowners aged 62 and older in Colorado Springs and throughout Colorado. It allows you to convert part of your home equity into cash without having to sell your home or make monthly mortgage payments. This can provide financial flexibility during retirement while allowing you to stay in your home.
Key Benefits
- ✓Access your home equity without selling
- ✓No monthly mortgage payments required
- ✓Maintain ownership of your home
- ✓FHA insurance protection
- ✓Use the funds as you choose
- ✓Non-recourse loan protection
Requirements
- •Age 62 or older
- •Own your home outright or have significant equity
- •Home must be your primary residence
- •Maintain property taxes and insurance
- •Home must meet FHA standards
- •Complete HUD-approved counseling
How It Works
Initial Consultation
Meet with our reverse mortgage specialists to discuss your needs and explore your options.
HUD Counseling
Complete the required HUD-approved counseling session to ensure you understand all aspects of a reverse mortgage.
Application & Approval
Submit your application and required documentation. We'll guide you through the approval process.
Funding
Choose how you want to receive your funds - lump sum, monthly payments, line of credit, or a combination.
Learn More About Reverse Mortgages
Contact us today to schedule a consultation with one of our reverse mortgage specialists. We'll help you understand if a reverse mortgage is right for your situation.