Best Reverse Mortgage Companies in Denver, CO
American Advisors Group (AAG)
American Advisors Group puts its sole focus on reverse mortgage lending, so it's focused on helping you access your home’s equity.
Community First National Bank
Community First National Bank offers personalized service for reverse mortgages and quick closing. The company offers FHA-backed Home Equity Conversion Mortgage and offers various fund distribution schedules.
Peak Financial Reverse Mortgage
Local loan originator offering a variety of mortgage financing, including reverse mortgages. Call to talk with a specialist about your options. A five-star rating.
American Liberty Mortgage - Denver, CO
Locally owned and operated mortgage company offering a range of home loans, including reverse mortgages. Focuses on personalized customer service, competitive rates, and low closing costs.
Colorado Reverse Mortgage
Local specialist offering reverse mortgages only. Focuses mostly on HECMs but can also help you obtain proprietary reverse mortgages for high-value homes.
North Point Financial Inc.
Focuses on low rates and quick closings. Visit the website to explore the reverse mortgage qualifier tool. Free home value estimate.
Otto Group/Luminate Home Loans
Specializes in educating clients on the pros and cons of a reverse mortgage and how this loan type can help achieve financial freedom for homeowners over 62. Offers HECMs and H4Ps.
Denver Reverse Mortgage
Specializes in educating clients about reverse mortgages. Offers HECMs and jumbo loans. Over 20 years of reverse mortgage experience. Schedule a free consultation.
Reverse Mortgage Costs in Denver, CO
Denver’s cost of living is higher than the national average, with higher median home prices. For Denver seniors who have worked hard to pay off their homes, the house’s value could provide the security needed to age in place or make the most of retirement in an expensive city. Homeowners can typically access up to 60% of their home’s value from a reverse mortgage, depending on equity and other factors. In Denver, homeowners can borrow up to $1,089,300, the 2023 HECM maximum nationwide claim amount. The cost of a reverse mortgage in Colorado depends on several factors:
- Home value
- Home equity
- Borrower age
- Loan amount
- Interest rates
- Mortgage insurance
- Lender fees
- Disbursement method
Typical fees associated with a reverse mortgage are similar to a traditional home loan: origination fees, appraisal fees, mortgage insurance and closing costs. Unlike a “forward” mortgage, a reverse mortgage requires borrowers to complete a HUD-approved counseling session, which also comes with a fee. Reverse mortgages usually have higher interest rates than other types of home loans. Most reverse mortgages come with an adjustable interest rate. Choose a lump sum disbursement to get a fixed rate.
Denver, CO, Reverse Mortgage Eligibility Requirements
Reverse mortgage borrowers are subject to certain eligibility requirements:
- Borrower must be 62 or over
- Own the home outright or have significant equity
- Remain up-to-date on property taxes
- Maintain active homeowners and flood insurance
- Complete HUD-approved counseling with a reverse mortgage counselor
Reverse mortgages offer an option for homeowners who want to leverage their home for income, but don’t qualify for a traditional home equity loan. Reverse mortgages have fewer credit and income requirements, though lenders will verify this information. This type of loan also makes sense for those who plan to stay in their home long term; if you plan to move out, a reverse mortgage is not for you. The loan and all fees and interest become due when the home is no longer your primary residence. Borrowers who can take out a HELOC or home equity loan probably won’t need a reverse mortgage.
Denver, CO, Reverse Mortgage Company Reviews
Peak Financial Reverse Mortgage
Peak Financial is a local loan originator offering a range of home loan financing, including reverse mortgage loans for those who want to use the equity in their homes to supplement income, pay off debt, set up a safety net or make the most of retirement. Call to discuss your options. Reviewers gave this company five stars for being helpful, easy to work with and friendly. One customer was especially grateful for the team that helped make smart financial moves “no matter how much or how little you have to work with.”
- Apply online
- 16+ years of experience
| Peak Financial Reverse Mortgage | |
| Address | 1780 S Bellaire St #780, Denver, CO 80222 |
| Phone Number | (303) 962-4840 |
American Liberty Mortgage – Denver, CO
Denver residents might have heard Darrin Foster talking with American Liberty Mortgage on AM radio. The company offers HECMs and H4Ps with several disbursement options. Contact a specialist to learn more and discuss your personal situation, or fill out a form online to get a quick quote. Reviews for this company mention top-notch customer service, responsiveness, patience, fantastic communication and a solution-oriented attitude. One reviewer especially liked the secure online platform.
- Dedicated reverse mortgage manager
- Apply online in minutes
| American Liberty Mortgage – Denver, CO | |
| Address | 1932 W 33rd Ave, Denver, CO 80211 |
| Phone Number | (303) 416-7000 |
Colorado Reverse Mortgage
Colorado Reverse Mortgage specializes in loans to help seniors have financial independence and improve their quality of life. Call for a free consultation. The process starts with an in-depth education to help you make an informed, confident decision. Clients consistently rate the company five stars for professional and informative specialists, responsiveness, and knowledge. Reviewers agree that this business provides the highest level of service.
- More than 30 years of experience
- Certified Reverse Mortgage Professional
| Colorado Reverse Mortgage | |
| Address | 7478 Park Cir, Boulder, CO 80301 |
| Phone Number | (720) 828-7788 |
North Point Financial Inc.
North Point Financial Inc. offers a full suite of home loan products, including reverse mortgage HECMs. Use the free reverse mortgage qualifier tool on the company website to find out if this type of loan is right for you. Borrowers can change the disbursement method at any time. Customers liked that the process was easy to complete by email and said agents were a pleasure to work with. Reviewers gave the company five stars for responsiveness, high-quality service, and competitive rates.
- Get a rate quote in 30 seconds
- Free home value estimate
| North Point Financial Inc. | |
| Address | 1203 24th St, Denver, CO 80205 |
| Phone Number | (720) 233-5044 |
Tim Oddo – Luminate Home Loans
Tim Oddo, Reverse Mortgage Specialist with Luminate Home Loans, works to find loans for homeowners 62 and over to create cash flow and financial peace of mind. He offers HECMs and H4Ps, and enjoys helping people achieve financial freedom. Oddo provides personal consultations and also offers training for real estate professionals and financial planners. Reviewers said Oddo was prompt in returning calls, took time to explain everything and was honest. Clients liked his expert knowledge and how he made them feel comfortable throughout the process.
- 20+ years of experience
- Prioritizes reverse mortgage education
| Tim Oddo – Luminate Home Loans | |
| Address | 26 W Dry Creek Cir # 400, Littleton, CO 80120 |
| Phone Number | (303) 233-4500 |
Denver Reverse Mortgage
Denver Reverse Mortgage helps clients understand whether a reverse mortgage is right for them and how to benefit from this type of loan. Schedule a free consultation with an expert to discuss your options. Customers said the Denver Reverse Mortgage customer service was exceptional, and that the process was a completely stress-free experience. Reviewers gave this company five stars for doing an incredible job with complicated transactions and handling every detail with precision.
- Offers jumbo reverse mortgages
- Free consultations
| Denver Reverse Mortgage | |
| Address | 1159 S Clayton St, Denver, CO 80210 |
| Phone Number | (303) 370-7300 |
