Reverse Mortgage Lender Denver | Solutions & Rates
Structured for seniors age 62 and up, a reverse mortgage on your Denver property allows you to receive payments from a lender on the equity of your home. Those seeking funds for the expenses that can incur with age can take advantage of a reverse mortgage and use the value of your property now, only to be paid back after you sell or leave the home, or the homeowner passes away.
Reverse mortgages in Denver are an incredible tool for supplementing income. There are very specific qualifications for people who qualify for the reverse mortgages solutions offered by US Mortgages. Learn more about the eligibility requirements for reverse mortgages and the kinds of reverse mortgages we have available.
What are reverse mortgages?
Reverse mortgages can provide older Colorado residents with much needed financial security. Your regular mortgage payments can be eliminated, while you receive payments from the lender on the equity of your home. You can continue living in your home while collecting payments, and are not required to repay the mortgage until you leave the home.
With a reverse mortgage, you do not risk losing your home. So long as property taxes and homeowners insurance continues to be paid, your home cannot be taken from you.
allow homeowners to convert the equity they've put into their home into supplemental income. In Denver, reverse mortgage lenders pay homeowners one of two ways during the term of a reverse mortgage rate: a lump sum or monthly payments. Frequently reverse mortgages are used to supplement income of aging adults who have a fixed income for a variety of reasons.
Who is eligible for a reverse mortgage?
Borrowers must be aged 62 or older. Homeowners insurance and property taxes must be paid up to date to qualify. Borrowers must also live in the home to qualify for a reverse mortgage. Are you interested in taking the next step towards a reverse mortgage by speaking with brokers in the Denver area? Feel free to give us your contact information on our website and we'll get back to you as soon as we can. We also welcome you to give us a call at our Denver office to learn more about reverse mortgages and if they're right for you and your family.