Colorado Reverse Mortgage

Colorado Reverse Mortgage for Seniors 62 and Older

A Colorado reverse mortgage lets homeowners 62 and older convert home equity into cash — with no monthly mortgage payments required. You retain title to your home and continue living in it. The loan is repaid when you sell, move out, or pass away.

We originate reverse mortgages in Colorado and five other directly licensed states: California, Oregon, Washington, Texas, and Idaho.

Why Colorado Seniors Are a Strong Fit for Reverse Mortgages

Colorado has seen sustained home price appreciation over the past two decades — particularly along the Front Range and in mountain resort communities. Many long-time homeowners who purchased in Denver, Colorado Springs, Boulder, or the ski towns before the major run-up now hold substantial equity with little or no remaining mortgage.

The equity picture:

• Denver metro median home prices have more than tripled over 20 years
• Mountain resort markets — Aspen, Vail, Breckenridge, Steamboat Springs — consistently rank among the highest-priced real estate in the country
• Front Range suburban homeowners frequently carry $400,000–$800,000+ in equity free and clear
• Colorado’s senior population has grown rapidly as in-migration from higher-cost states continues

That equity concentration, combined with Colorado’s relatively high cost of living, makes a reverse mortgage a practical tool for seniors who want to age in place without drawing down investment accounts.

HECM vs. Jumbo Reverse Mortgage in Colorado

The HECM (Home Equity Conversion Mortgage) is the FHA-insured standard reverse mortgage — the most widely available option nationwide. But it has a lending limit.

For Colorado mountain resort properties — Aspen, Vail, Telluride, and other high-value communities — the HECM lending limit may leave significant equity inaccessible. Jumbo proprietary reverse programs are available for these scenarios.

How You Can Receive the Funds

Reverse mortgage borrowers choose how they want access to their equity:

• Lump sum — all proceeds at closing (fixed-rate HECM only)
• Monthly payments — tenure (for life) or term (set number of years)
• Line of credit — draw funds as needed; unused line grows over time
• Combination — any mix of the above

The amount available depends on your age, current interest rates, and home value. Older borrowers with higher-value homes generally access more.

Colorado Retirement Markets We Serve

We work with Colorado senior homeowners across the state, including:

• Denver metro — Denver, Aurora, Lakewood, Arvada, Westminster, Highlands Ranch, Littleton
• Colorado Springs — Military retirees and long-time homeowners in El Paso County
• Boulder and the foothills — Boulder, Louisville, Lafayette, Superior, Longmont
• Mountain resort communities — Aspen, Vail, Breckenridge, Steamboat Springs, Telluride, Crested Butte
• Northern Front Range — Fort Collins, Loveland, Greeley
• Western slope — Grand Junction, Montrose, Glenwood Springs

Reverse Mortgage Requirements

To qualify:

• Age: Youngest borrower must be 62 or older (some jumbo programs start at 55)
• Primary residence: You must live in the home as your primary residence
• Equity: Substantial equity required — most borrowers own free and clear or have a small remaining balance
• HUD counseling: Required for HECM loans before application
• Property taxes and insurance: Must remain current
• Property types: Single-family homes, 2–4 unit (owner-occupied), HUD-approved condominiums, and manufactured homes meeting FHA standards

Frequently Asked Questions

Get Started

← Back to Colorado Mortgage Programs · Reverse Mortgage Program Overview →

1st Nationwide Mortgage, NMLS 1281. Reverse mortgages subject to borrower qualification, HUD counseling, property appraisal, and program availability. HECM loans are FHA-insured. Jumbo proprietary reverse mortgages are not FHA-insured; terms differ. Not all applicants will qualify. This is not a commitment to lend. Available in California, Colorado, Oregon, Washington, Texas, and Idaho only.