Reverse Mortgage Counseling

Reverse mortgages are loan products that allow seniors (62+) to borrow against the value of their homes while requiring no monthly payments as long as they are living in the home.

During the reverse mortgage counseling session, we will discuss:

• Your financial goals and how they relate to getting a reverse mortgage
• What is a Home Equity Conversion Mortgage (HECM)?
• Review the costs associated with a HECM loan
• Evaluate the pros and cons to this loan product
• Discuss alternatives to reverse mortgage that may help you meet your financial goals
• Each participant will receive a certificate of completion to move forward with the lending process

Before You Begin:

This service is offered to all Colorado residents and has an upfront fee of $125. If a household falls below 200% of the federal poverty level, the fee can be financed into the HECM loan at closing. The counselor will discuss these options with you before scheduling the appointment.