Turn your home equity into income while staying in the home you love

If you’re 62 or older and looking to supplement your retirement income, eliminate your monthly mortgage payment, or access funds for medical or lifestyle expenses, a reverse mortgage may be the solution. This unique program lets you convert part of your home’s equity into cash while still living in and owning your home.

At Choice Mortgage Group, we guide Colorado homeowners through the reverse mortgage process with care and clarity. Whether you’re in Centennial, Denver, Highlands Ranch, Parker, Castle Rock, or anywhere else in the state, we’re here to help you make an informed decision.

What is a reverse mortgage?

A reverse mortgage is a loan available to homeowners age 62 and older that allows you to access a portion of your home’s equity. Unlike a traditional mortgage, you don’t make monthly payments. Instead, the loan is repaid when you sell the home, move out, or pass away.

The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the FHA.

You can choose how to receive your funds:

  • A lump sum
  • Monthly payments
  • A line of credit
  • Or a combination of the above

Funds are tax-free and can be used for anything; daily expenses, home repairs, healthcare costs, or simply peace of mind.

Learn more about HECM loans from the U.S. Department of Housing and Urban Development (HUD)

Key benefits of reverse mortgages

  • No monthly mortgage payments required
  • Stay in your home as long as it’s your primary residence
  • Access tax-free funds from your home equity
  • Flexible payout options to match your goals
  • Federally insured through the FHA HECM program
  • Non-recourse loan – you or your heirs never owe more than the home’s value

Do you qualify?

You may be eligible for a reverse mortgage if:

– You’re 62 years of age or older
– You own your home (or have a low remaining balance)
– The home is your primary residence
– The property is a single-family home, condo, or qualifying manufactured home
– You meet FHA financial assessment guidelines

We specialize in helping Colorado homeowners and their families understand reverse mortgage options clearly and without pressure. We take the time to explain how the program works, run custom numbers, and answer every question along the way.

Want to see how much you could qualify for?
Call or text us at 303-670-0137, email rbaxter@choicemortgage.com, or request a free reverse mortgage consultation. We’ll help you make a confident, informed choice.

*Guidelines current as of May 2025. Reverse mortgage counseling is required as part of the FHA approval process.