Best Reverse Mortgages In Denver Near Me

4worldlovers: Ready to learn more about reverse mortgages or curious about how much money you would be eligible for?

A federally insured reverse mortgage program that allows borrowers over 62 years old to tap into their home equity.

Refinance your existing reverse mortgage for better terms, a different loan type, or if you have an increase in your home’s value.

Jumbo reverse mortgages are a solution for borrowers with higher home values that cause them to exceed the typical lending limits for reverse mortgages.

A reverse for purchase mortgage allows you to purchase a new primary residence with a reverse mortgage.

Our very own Brandon Hansen, the #1 reverse mortgage loan officer in the nation, speaks to Montel Williams on The Balancing Act airing on Lifetime TV, about the benefits of a reverse mortgage or Home Equity Conversion Mortgage (HECM). This program is a federally insured reverse mortgage that allows qualifying home owners to convert their home’s equity into cash. Watch now to learn all the ways you can put a HECM to work for you.

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4worldlovers:

In order to make an informed decision, about a Reverse Mortgage, you need information based on solid numbers, sound reasoning, and real-life stories.


So let’s take a peek behind the curtain at some things you need to know about a Reverse Mortgage.


I’ll show you what most people don’t know and details most lenders won’t ever tell you. I tell my borrowers those things because they both deserve and need to know.


You also have the right to know. I like to pull back the curtain because I believe in the value and benefits of a Reverse Mortgage for the right reason and for the right person.


I’ve been originating Reverse Mortgages for around 10 years. Up until about five months ago I hadn’t done a Reverse loan on a “Free & Clear” property. Since then I’ve done two, and I have three in the pipeline.


The first two were couples who were referred to me by their financial planners. One couple is using the money to help their kids buy homes. The other couple is buying a second home close to their kids in another state.


On two of the current loans it was the adult children who found me and interviewed me before I ever met their parents. In both cases the adult children attended the required HECM counseling with their parents.

One added note: All of my “Free & Clear” borrowers were pleasantly surprised by one lessor-know feature of a Reverse loan: The 150% of appraised value, first position HUD lien on their property.

They don’t owe 150% of the value of their home, but anyone who might want to meddle with their title will find a big, fat, first position lien.

Behind The Reverse Mortgage “Cost-Curtain.” The Price Is What You Pay.

The “Comparison” above is from a Reverse Mortgage I closed in December of 2021. The loan is an adjustable “Cap 5.” (Line Of Credit loan)*

*the next post show why the borrowers did a Reverse Mortgage

–2.125%: The initial interest rate. The margin + the index (0.25) = The index adjusts every month.

–$359,100: The Principal limit. The total amount of money available in this loan.

–$13,300: The Initial Mortgage Insurance (IMIP). The biggest cost of a Reverse Mortgage. 2% of the home value.

Why? I charge less. The margin and the origination fee are negotiable. The 2% initial mortgage insurance premium and the loan costs are not.

Your broker can help pay those fees. Ask them, “What will you contribute to my deal?”

On this deal I contributed $6,490. Appraisal cost: $490.+ $6,000 waived origination cost. First know the price, then learn the value of a Reverse Mortgage.

"Price is what you pay, the value is what you get."

Continued from “A look at the cost of a Reverse Mortgage.”

My borrowers owned their home, free and clear. They decided to take out a Reverse Mortgage so they could help two of their children buy homes. The idea to use home equity came from their financial planner.

When the deal was done, and the dust all settled they had $190,000 to help their children buy homes. One of the great gifts we parents can give to our children is something that will help them get ahead in life.

That is what my borrowers did for their children with money draw from the equity in their home using a Reverse Mortgage.

-The Benefit ($190,000 down payment money for their children) Immediate and lasting.

I’ve know “Don & Lynn” for many years. They both recently retired and their dream was to live at Heritage Eagle Bend in Aurora, CO.

4worldlovers: Are you over age 62 and would like to lower your interest rate or mortgage payment? You may be able to do just that with a new HECM* program from The Federal Savings Bank.

Due to ongoing precautionary measures, Appointments are being done by phone and online video conference.

Appraisers for everyone’s safety are making appointments for a walk around homes and looking in windows only.

Traditionally known as a reverse mortgage or Home Equity Conversion Mortgage (HECM),is a federally insured home loan that allows you to eliminate monthly mortgage payments (except for taxes and insurance) and convert part of your home's equity into cash.

According to AARP, 90% of the people over age 65 want to age in place, and stay in their current home as long as possible. Are you financially prepared?

A Home Equity Conversion (HECM) loan can be the right solution to allow you to age in place and live more comfortably. The HECM loan is designed for senior homeowners to have access to a portion of their home equity, leaving you in your home with no monthly mortgage payment.

4worldlovers: Denver is a city in Colorado that has seen enormous growth in its population over the years, and it doesn’t seem like it will slow down anytime soon. People across the country prefer to move to Denver due to its high housing costs, which are seeing one of the biggest hikes. The price of a medium-sized home in Denver is significantly higher than the national median.

If you have decided to move to Denver and are planning to purchase your first home here and are looking for a mortgage lender Denver, then you have landed at the right place.

We have over 50 years of experience in the Mortgage and finance industry. Our team can help you with the different kinds of home loan products. We are committed to delivering the best possible mortgage guidance to all of our clients.

Whether you are purchasing a home for the first time or the third time, the mortgage process can be extremely complicated. Things like credit history, pre-approval, and interest rates, can be challenging and can boggle up any citizen.

Thankfully, you don’t have to go through it all alone; our expert mortgage brokers Denver are here for you.

PierPoint Mortgage is a reputed and trusted mortgage company Denver with decades of experience that can guide you, assist you, and help you turn your dream of owning a house into reality.

While every other lender may claim to offer top-notch services, there are only a few that have the expertise to handle the pressure. And when you are searching for the right lender, you must understand how the lenders differ from one another and how you can find the right ones!

Top mortgage lenders Denver will run a gamut of services to ensure the clients that they can handle their cases well by demonstrating various cases from their service book.

Another thing that a good Mortgage lender Denver won’t shy away from is exhibiting the versatility (of services, of course). As PierPoint Mortgage Denver endeavors to stand out, we try to offer a wide range of services to our customers, including:

However, PierPoint Mortgage is not limited to these services alone; you are likely to discover a plethora of other benefits once you have collaborated with us!

No matter what service you want us to render or what loan programs you have chosen (including reverse mortgage Denver), you will experience complete customer assistance. Whether you are buying a house or leveraging the equity in your current property, PierPoint Mortgage Denver can guide you to obtain the financing at a rate that you can afford.

Our Denver, CO mortgage brokers work hard to find the best financial situation for you. Because of our many years of experience, we are able to help you get the best possible rate on a wide range of mortgage products and loan options, including the following:

A loan officer from our side will always be in touch with you and will help you understand every detail and clear every doubt. No matter what your financial needs or goals are, our adept mortgage broker Denver will make sure that they are covered.

How Long Will PierPoint Mortgage Take to Complete the Mortgage Process?

Once you have submitted all the documents and completed all the requirements, your loan application will move swiftly. It is, however, difficult to pin down a specific time frame because every case is different and, therefore, the time consumed will also be different.

Nevertheless, there are only four to five steps when it comes to the mortgage process. Check them out below:

1. Complete a loan application by filling in the asked details. Make sure to attach all the necessary documents and data. Once you have gathered all the documents and completed the form, submit it.

2. Based on your application and the information provided therein, you will receive a loan estimate which can change based on your complete assessment.

3. Following that, the lender will conduct an assessment and will require you to submit your property details, income proof, debt-income ratio, and other financial information. Once your financials have been evaluated, you will get the final approval.

4. Then, the lender will share a loan document with you that will contain complete details of the loan, the interest rate, the down payment, etc. Read those terms and sign the document. You will then need to prepare your down payment and closing costs, and after that, your loan application will be complete.

You must remember that at PierPoint Mortgages, we offer more than just a conventional mortgage Denver, and hence, you can rely on us.

4worldlovers: Tune in to the Barry and Larry Show on 630 KHOW every 3rd Saturday Morning from 8-9 and again from 9-10 to hear Mike talk about how you can benefit from a Reverse Mortgage.

Let Mike help you understand how the equity you have worked so hard to build can enhance your retirement. Education is the first step. Learn from Mike how this wonderful tool can enhance your financial life and help you to age in place.

Avid airplane pilot, licensed drone pilot and Colorado Native, Mike Rabon provides expert mortgage advice. He and his wife, Wendy, have three grown children, Jamie, Kevin and Molly and one grandchild Brock. Mike loves taking trips with his kids and grandchild at every opportunity.

Mike has been in the commercial and residential mortgage industry for over 18 years and has worked with all types of loans. His specialty is working amongst the 62 plus age group. As a senior himself, Mike has a special insight and connection with the seniors he works with. Being a Reverse Mortgage Planner, has been the most rewarding part of his career.

Mike teaches continuing education classes for Realtors on the Home Equity Conversion Mortgage. He also does presentations for a variety of businesses, Financial Advisers and groups that support seniors in retirement planning. His presentations give a very different perspective. He often asks his clients and professional partners, “If what you thought you knew about mortgages and financial planning was wrong, when would you want us to tell you?”

4worldlovers: Use one of our quick & easy tools to find out what you qualify for!