You Built This Equity Over a Lifetime. Now Let It Take Care of You.
Colorado reverse mortgages let you access your home equity with no monthly mortgage payments. Stay in your home. Keep your title. Use the funds however you choose. Available to homeowners 55 and older. Property taxes, homeowners insurance, and home maintenance remain your responsibility.
Could a Reverse Mortgage Work for You?
3 quick questions. See your recommended program instantly.
No credit impact · No obligation · Adult children welcome
This is a preliminary estimate for educational purposes only. Your actual eligibility and accessible equity depend on your age, property type, current interest rates, and program-specific factors. Bobby runs your complete numbers — no cost, no obligation.
*No monthly mortgage payment required. Borrower must continue paying property taxes, homeowners insurance, HOA dues (if applicable), and maintain the home. Failure to meet these obligations may result in loan default.
Let's Clear the Air About Reverse Mortgages
If you're reading this page, you've probably heard something negative about reverse mortgages. Maybe a neighbor told you “they take your house.” Maybe you saw a confusing TV commercial. Maybe your kids are worried.
Here's the truth: A reverse mortgage is a federally regulated loan — not a scam, not a gimmick, and nobody takes your house. You keep full ownership and title. You stay in your home as long as you want. And your heirs inherit the property when the time comes — they simply pay off the loan balance or sell the home and keep the difference.
The stigma comes from the 1990s, when reverse mortgages had fewer consumer protections. Today, HUD-approved counseling is mandatory, non-recourse protection is built in (meaning you or your heirs can never owe more than the home's value), and the products are regulated by the Federal Housing Administration.
One thing I always make clear upfront: a reverse mortgage eliminates your monthly mortgage payment, but it does not eliminate your responsibilities as a homeowner. You still pay property taxes, homeowners insurance, and maintenance. These are the same obligations you have now — the difference is you're no longer making a mortgage payment on top of them.
I wouldn't offer them if I didn't believe in them. And I wouldn't build an entire practice around them if they weren't genuinely good for Colorado seniors.
“The fear is almost always worse than the reality. Once we run the numbers together, the path forward gets clear.”
Bobby Friel
CO Home Equity · Founder · NMLS# 332039
$0/month
What your monthly mortgage payment becomes with a reverse mortgage.
Property taxes, insurance, and home maintenance remain your responsibility. But imagine what eliminating your largest monthly bill would mean for your retirement.
Two Types of Reverse Mortgage — Which Fits Your Situation?
HECM
Standard Reverse Mortgage- •Age: 62+
- •Loan limit: Up to $1,249,125 (2026 FHA limit)
- •FHA-insured with non-recourse protection
- •Disbursement: lump sum, monthly payments, line of credit, or combination
- •Line of credit grows over time (unused portion increases)
- •HUD-approved counseling required
- •Mortgage insurance premium: 0.50% annually
- •Ongoing obligations: Property taxes, insurance, maintenance
Best for: Colorado homeowners with home values under $1.25M who want federal protections and flexible disbursement options.
Jumbo Reverse Mortgage
Proprietary- •Age: 55+ in Colorado
- •Loan limit: Up to $4,000,000
- •No FHA mortgage insurance premiums — saves thousands
- •No origination fees on certain programs
- •Non-recourse protection (same as HECM)
- •Line of credit option available
- •Ongoing obligations: Property taxes, insurance, maintenance
Best for: Vail, Aspen, Breckenridge, Telluride, Boulder, and other high-value Colorado markets where home values exceed the HECM limit. Also for homeowners age 55–61 who aren't yet eligible for HECM.
| Factor | 🏛️ HECM | 🏔️ Jumbo |
|---|---|---|
| Minimum age | 62 | 55+ in Colorado |
| Max loan amount | $1,249,125 | $4,000,000 |
| Mortgage insurance | Yes (0.50%/year) | No |
| Origination fees | Yes | No (on certain programs) |
| FHA insured | Yes | No (privately funded) |
| Non-recourse | Yes | Yes |
| Monthly mortgage payments | None required | None required |
| Counseling required | Yes (HUD-approved) | Yes |
| Ongoing obligations | Property taxes, insurance, maintenance | Property taxes, insurance, maintenance |
| Best for | Homes under $1.25M | Homes over $1.25M or age 55–61 |
Not sure which fits? That's what the equity review is for.
Schedule Your Equity ReviewColorado Seniors Who Put Their Equity to Work
Look at the six Colorado homeowners below. Each one found a different path through their reverse mortgage. Which situation sounds closest to yours?
Investment Protection Strategy
A retired couple in Vail had a home worth $2.4M — paid off entirely. Their investment portfolio took a hit in the 2025 market downturn, and they didn't want to sell stocks at a loss. A jumbo reverse mortgage gave them access to $850K in equity with no monthly mortgage payments. They funded three years of living expenses without touching their investments — giving the portfolio time to recover. Property taxes, insurance, and maintenance continued as normal.
Aging in Place with Dignity
Margaret in Evergreen, age 74, needed $120K for in-home care modifications — wheelchair ramp, bathroom renovation, stair lift, and a first-floor bedroom conversion. Her home was worth $890K with no mortgage. A standard HECM gave her a $380K line of credit. She drew $120K for the renovations and kept the remaining $260K as a growing financial safety net. No monthly mortgage payment — though property taxes, insurance, and upkeep remain her responsibility.
Financial Independence at 59
Linda in Boulder, age 59, received the marital home in her divorce — worth $1.1M. At 59, she wasn't eligible for a standard HECM (requires age 62). But a jumbo proprietary reverse mortgage was available at age 55+. She accessed $340K — eliminated her remaining mortgage, paid off divorce attorney fees, and created a $150K reserve. No monthly mortgage payment for the first time in 30 years. Property taxes, insurance, and maintenance continue as her responsibility.
Funding the Next Generation
Robert in Highlands Ranch, age 68, wanted to help fund his three grandchildren's college education. His home was worth $720K with a $90K remaining mortgage. A HECM reverse mortgage paid off the $90K mortgage (eliminating his $840/month payment) and gave him a $180K line of credit. He's drawing $20K per year per grandchild — funded entirely by equity he wasn't using. Property taxes, insurance, and maintenance remain his responsibility.
HECM for Purchase Strategy
A couple in Castle Rock, both 71, sold their 4-bedroom home for $680K and used a HECM for Purchase to buy a $450K ranch-style home near their daughter. The reverse mortgage covered $280K of the purchase price. They put $170K down from the sale proceeds and pocketed the remaining $230K. No monthly mortgage payment on the new home. Cash in the bank. Property taxes, insurance, and maintenance on the new home remain their obligation.
Supplemental Retirement Income
Harold in Denver, age 76, was house-rich and cash-poor. His Park Hill home was worth $780K — paid off — but property taxes, insurance, and maintenance were eating $1,400/month of his $3,200/month Social Security. A HECM line of credit gives him $2,800/month in supplemental income. He'll stay in his home for the rest of his life without financial stress. Property taxes, insurance, and maintenance continue — but without a mortgage payment, they're manageable.
These are illustrative examples based on typical Colorado scenarios. Actual amounts depend on age, home value, interest rates, and program-specific factors. All programs require ongoing payment of property taxes, homeowners insurance, and home maintenance.
“The stigma around reverse mortgages comes from a product that no longer exists. Today's reverse mortgage is federally regulated, has non-recourse protection, and lets you stay in your home for life. When was the last time someone actually explained how it works — not what you've heard, but how it's regulated today?”
Bobby Friel · CO Home Equity
Questions Worth Asking Yourself
Have you explored what your home equity could do for your retirement — without selling your home?
Your home has been building wealth for decades. A reverse mortgage lets you access that wealth while you continue living in it. No monthly mortgage payment. No giving up your title. The equity you built works for you instead of sitting idle.
When was the last time someone explained how a reverse mortgage actually works today?
Forget what you heard in the 1990s. Today's reverse mortgages are FHA-regulated with mandatory counseling, non-recourse protection, and your heirs inherit the property. The product has changed. The conversation should too.
What would eliminating your monthly mortgage payment mean for your monthly budget?
The average Colorado mortgage payment is $2,200–$2,800/month. Eliminating that — while keeping your home — frees up significant cash for healthcare, travel, helping grandchildren, or simply reducing financial stress. Property taxes and insurance continue, but without the mortgage, your monthly picture changes dramatically.
If your home is worth over $1M, has anyone told you about jumbo reverse mortgages?
Standard HECM reverse mortgages cap at $1,249,125. Colorado mountain homes in Vail, Aspen, Breckenridge, and Telluride often exceed $2M–$4M. Jumbo proprietary programs access up to $4M with no FHA mortgage insurance premiums. If your bank said you don't qualify, they were looking at the wrong program.
Have your adult children been part of this conversation? We welcome them on every call.
Reverse mortgage decisions often involve the whole family. Adult children have questions about inheritance, about whether the home is "at risk," about what happens long-term. Bobby welcomes them on every consultation call. Transparency builds trust — and this decision should have everyone's confidence.
What's the one financial concern that keeps coming back — and what would solving it look like?
For some Colorado seniors, it's the monthly payment stress. For others, it's funding in-home care. For others, it's helping grandchildren or preserving investments during a market downturn. Whatever keeps you up at night — that's the conversation worth having.
What a Colorado Reverse Mortgage Actually Looks Like
| Home Value | Product | Approx. Accessible Equity | Monthly Payment | Mortgage Insurance |
|---|---|---|---|---|
| $500,000 | HECM | $200K–$275K | $0/mo* | 0.50%/year |
| $750,000 | HECM | $300K–$400K | $0/mo* | 0.50%/year |
| $1,000,000 | HECM | $475K–$575K | $0/mo* | 0.50%/year |
| $1,250,000 | HECM (at limit) | $550K–$650K | $0/mo* | 0.50%/year |
| $1,500,000 | Jumbo | $650K–$850K | $0/mo* | None |
| $2,000,000 | Jumbo | $850K–$1.1M | $0/mo* | None |
| $3,000,000 | Jumbo | $1.2M–$1.6M | $0/mo* | None |
| $4,000,000 | Jumbo | $1.6M–$2.2M | $0/mo* | None |
*No monthly mortgage payment required. Borrower must continue paying property taxes, homeowners insurance, HOA dues (if applicable), and home maintenance. Accessible equity depends on age, interest rates, and property type. These are approximate ranges based on current market conditions.
Which row matches your home value? The accessible equity column tells you what's potentially available — Bobby confirms your real number in a free review.
55+
The minimum age for jumbo reverse mortgage programs in Colorado.
If you've been told you're too young at 55, 56, or 58 — that was based on HECM rules. Jumbo programs start at 55. The conversation may be different than you think.
What Most People Get Wrong About Reverse Mortgages
"The bank takes your house"
No. You keep full ownership and title — exactly the same as any other mortgage. The lender places a lien, just like your original mortgage did. You live in your home as long as you want. The loan is repaid when you move, sell, or pass away — and your heirs inherit the property.
"My kids won't inherit anything"
Your heirs inherit the home. They can pay off the loan balance and keep the property, or sell the home and keep the difference between the sale price and the loan balance. And with non-recourse protection, they'll never owe more than the home is worth — even if the loan balance exceeds the value.
"I'll owe more than my home is worth"
Non-recourse protection means you or your heirs can never owe more than the home's fair market value at the time of repayment. If the loan balance grows beyond the home's value, the FHA insurance (on HECMs) or the lender (on jumbo loans) absorbs the difference. You're protected.
"I'm not old enough — you have to be 62"
For a standard HECM, yes — 62 is the minimum. But jumbo proprietary reverse mortgages are available to Colorado homeowners as young as 55. If you're between 55 and 61 with a high-value home, this may be your best option.
"My mountain home is too expensive for a reverse mortgage"
Standard HECMs cap at $1,249,125 — which doesn't begin to cover homes in Vail, Aspen, Breckenridge, or Telluride. That's exactly why jumbo reverse mortgages exist — with limits up to $4M. Your mountain home isn't too expensive. Your bank's product is too small.
"I won't have any ongoing costs"
A reverse mortgage eliminates your monthly mortgage payment, but property taxes, homeowners insurance, HOA dues, and home maintenance remain your responsibility. Bobby reviews these obligations with every borrower before proceeding — and your lender may set aside a portion of loan proceeds to help cover taxes and insurance.
"I should wait until I really need the money"
Waiting can actually reduce what you qualify for. Interest rates change, home values fluctuate, and your age at application directly affects your principal limit — older borrowers qualify for more. A HECM line of credit also grows over time when unused, so opening one now creates a larger safety net later. Many financial planners recommend establishing the line of credit early as a retirement planning tool.
"My bank already told me I don't qualify"
Banks typically offer one product — their own. If your home exceeds $1.25M, a bank offering only HECMs would tell you the loan limit doesn't cover your value. If you're 55–61, a bank offering only HECMs would tell you you're too young. A broker like Bobby compares HECM and jumbo programs across multiple lenders to find the right fit. The answer your bank gave you may not be the full answer.
How Bobby Handles Your Reverse Mortgage
📞Free Consultation
Tell me your situation. Age, home value, goals. No pressure, no commitment. Your adult children are welcome to join.
📊I Run Your Numbers
HECM vs Jumbo comparison with YOUR specific home. Accessible equity, ongoing obligations, tax and insurance estimates.
🎓HUD Counseling
Federal law requires independent counseling before a reverse mortgage closes. I help you schedule it and prepare you for what to expect.
🏦I Match You to the Right Program
HECM or Jumbo. Lump sum, line of credit, monthly payments, or combination. I place your file with the lender that fits your situation best.
✅Funded — Your Equity Works for You
Closing is simple. Funds arrive. Your monthly mortgage payment stops. Property taxes, insurance, and maintenance continue as normal.
Do You Qualify for a Colorado Reverse Mortgage?
Age
55+ for jumbo proprietary programs. 62+ for standard HECM. If your spouse is younger, special rules may apply — Bobby walks you through the specifics.
Home Equity
Substantial equity required — generally 50%+ equity for the best terms. The more equity you have, the more you can access. Paid-off homes qualify for the highest amounts.
Property
Must be your primary residence in acceptable condition. Single-family homes, condos, townhomes, and 2–4 unit properties are eligible. The property must meet minimum standards.
Ongoing Obligations
Must demonstrate ability to pay property taxes, homeowners insurance, and HOA dues. Lender may require a “set-aside” from loan proceeds to cover these. Bobby reviews this with every borrower.
Your Reverse Mortgage Requires Insurance — When Was the Last Time You Actually Compared?
Your reverse mortgage lender requires active homeowners insurance with 100% replacement cost coverage. Colorado homeowners face real exposure: hail in the Front Range, wildfire in the foothills and mountain zones, severe wind across the plains. A single storm can cause $10,000 to $30,000 in roof and exterior damage.
Before your reverse mortgage closes, we run a full insurance review through our partners at Direct Insurance Services — not just to satisfy your lender's requirements, but to make sure there are no coverage gaps and confirm you have the best premium costs. This saves headaches and money.
Colorado Reverse Mortgage Questions — Answered
Bobby's Take on Reverse Mortgages in Colorado
Reverse mortgages are the most misunderstood product in the mortgage industry — and arguably the most underutilized. Colorado seniors are sitting on record levels of home equity. In the mountain communities where I live and work — Vail, Beaver Creek, Edwards, Avon — the average homeowner over 60 has seven figures in equity that's doing absolutely nothing for them.
The stigma is outdated. It comes from a product that existed 25 years ago. Today's reverse mortgages are federally regulated, require independent counseling, offer non-recourse protection, and let you stay in your home for life. Have you taken the time to see how the product actually works today — not what you've heard from someone who hasn't looked at it since the 1990s?
Colorado is uniquely positioned for reverse mortgages because of our home values. The median home price statewide sits around $550K. In mountain markets, it's $1.5M–$3.5M. Those equity positions are powerful — and jumbo proprietary programs available starting at age 55 open the door for an entirely new segment of homeowners. What would accessing even a fraction of that equity mean for your retirement, your family, your financial confidence?
And I'm always transparent about one thing: a reverse mortgage is not free money. Your property taxes, insurance, and maintenance don't go away. What goes away is the mortgage payment — and for most Colorado seniors I work with, that's the single biggest line item in their monthly budget.
I welcome adult children on every call. This is a family decision, and transparency builds confidence. If you've been thinking about it — or if your children have been asking questions — the conversation is free. What's the one financial concern that keeps coming back for you? That's what we should talk about.
Your Home Has Been Taking Care of Your Family for Decades. Now Let It Take Care of You.
Schedule a free, no-obligation equity review. Bobby walks you through your options — HECM, Jumbo, or whether a reverse mortgage is even right for your situation. Your adult children are welcome on the call.
No monthly mortgage payment required. Borrower must continue paying property taxes, homeowners insurance, and home maintenance.
Bobby Friel · NMLS# 332039 · Friel-Good Mortgage, Inc. · NMLS# 1901977 · Edwards, Colorado