Firestone Reverse Mortgage — Let Your Equity Take Care of You
Firestone homeowners 55+ can access their home equity with no monthly mortgage payments. Stay in your home. Keep your title. Use the funds however you choose. 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 in Firestone
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 Firestone 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 Firestone 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 Firestone Home?
HECM — For Most Firestone Homes
FHA-Insured 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: Firestone homeowners with home values under $1.25M who want federal protections and flexible disbursement options.
Jumbo — For High-Value Properties
Proprietary Reverse Mortgage- •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: Select high-value Firestone properties above the $1.25M HECM limit, or homeowners age 55–61.
| 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 Firestone | Most homes in the area | Select high-value properties or age 55–61 |
Not sure which fits your Firestone home? That's what the equity review is for.
Schedule Your Equity ReviewFirestone Seniors Who Put Their Equity to Work
Look at the Firestone homeowners below. Each one found a different path through their reverse mortgage. Which situation sounds closest to yours?
The Firestone Widow Who Regained Financial Stability
Dorothy, age 72, has lived in Firestone since 2010. Her $490K home is paid off. After her husband passed, she's living on Social Security alone — $2,100/month. Property taxes, insurance, and basic maintenance were consuming too much. A HECM gave her a $195K line of credit. She draws $1,300/month to supplement her income, and the unused balance keeps growing for future needs.
The St. Vrain Ranch Couple Who Right-Sized Their Life
Rich and Connie, both 66, retired earlier than planned when Rich's company downsized. Their St. Vrain Ranch home was worth $545K but too much house for two people. They sold for $545K and used the HECM for Purchase program to buy a 1,500 sq ft ranch in Saddleback for $450K. They put $250K down, financed the rest with a reverse mortgage, and kept $295K in savings — no monthly mortgage payment on the new home.
The Saddleback Couple Who Made Their Home Accessible
Frank and Helen, both 74, have lived in Saddleback for 18 years. Their $460K home is paid off, but Helen's mobility issues mean they need a walk-in shower, grab bars, a ramp, and a stairlift. The $40K in modifications seemed overwhelming on fixed income. A HECM provided $40K upfront for the work plus a $145K line of credit that serves as their long-term safety net.
The Booth Farms Grandparents Investing in the Next Generation
Carlos and Maria, ages 70 and 67, moved to Booth Farms from Denver in 2012. Their $500K home is paid off. Their two grandchildren are starting college — one at CU Denver and one at UNC in Greeley. Rather than watch them take on student loans, they established a HECM with a $200K line of credit. They contribute $10K/year per grandchild while the unused balance grows.
These are illustrative examples based on typical Firestone 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 Firestone 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 Firestone home is worth over $1M, has anyone told you about jumbo reverse mortgages?
Standard HECM reverse mortgages cap at $1,249,125. Firestone homes often exceed that in premium neighborhoods. 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 Firestone 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 Firestone 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 Firestone 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 Firestone Seniors 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 Firestone home is too expensive for a reverse mortgage”
Standard HECMs cap at $1,249,125. That’s exactly why jumbo reverse mortgages exist — with limits up to $4M. Your Firestone home isn’t too expensive. Your bank’s product may just be 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.
How Bobby Handles Your Firestone 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 Firestone 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 Firestone 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.
Firestone Neighborhoods — Reverse Mortgage Equity Access
| Neighborhood | Median Value | Equity Range | Top Use Case |
|---|---|---|---|
| St. Vrain Ranch | $540K | $215K–$270K | Mortgage payoff & bridge income |
| Firestone Proper | $480K | $190K–$240K | Monthly income supplement |
| Saddleback | $460K | $185K–$230K | Aging-in-place modifications |
| Booth Farms | $500K | $200K–$250K | Retirement lifestyle |
| Del Camino Junction | $470K | $185K–$235K | Home upgrades |
Approximate ranges based on age 70, current rates, and estimated equity. Your free equity review shows exact numbers.
Firestone Neighborhoods — What Seniors Can Access
St. Vrain Ranch
$490K–$600K
St. Vrain Ranch is Firestone's largest planned community, featuring parks, trails, and a mix of ranch and two-story homes built in the 2000s and 2010s. Many early buyers in St. Vrain Ranch have built substantial equity as the community matured and values appreciated. The neighborhood's family-friendly amenities and community pools now serve retirees who want an active, social environment. Newer construction with modern floor plans makes aging in place easier than in older housing stock.
Firestone Proper
$420K–$540K
Central Firestone includes the town's original residential core, with a mix of homes from the 1990s through 2010s. Homeowners here benefit from established infrastructure, proximity to stores and services, and steady appreciation driven by Firestone's growth. Many retirees in this area purchased when prices were significantly lower and now sit on equity that makes HECM particularly effective for supplemental income.
Saddleback
$400K–$520K
Saddleback is a well-established Firestone neighborhood with ranch-style homes and split-levels that appeal to seniors seeking single-story living. The area's lower price points mean a higher percentage of equity is accessible through HECM, and many homeowners here own their properties free and clear after 15–20 years of ownership. Saddleback's quiet streets and community parks provide a safe, comfortable environment for aging in place.
Booth Farms
$440K–$560K
Booth Farms is one of Firestone's newer communities, featuring modern homes with open floor plans, energy-efficient construction, and HOA-maintained landscapes. Early retirees who purchased in Booth Farms have benefited from strong appreciation as the community filled in. The newer construction means fewer deferred maintenance issues — a plus for reverse mortgage borrowers whose loan requires the home to meet FHA property standards.
These are approximate ranges based on age 70, current rates, and estimated equity. Your actual numbers depend on your specific age, home value, and existing mortgage balance. The equity review is free.
Firestone Risk Intelligence for Reverse Mortgage Borrowers
Weld County Property Tax Growth
Firestone's rapid growth has driven property tax increases as the county reassesses values. Recent cycles have seen 15–20% increases in some neighborhoods. As a reverse mortgage borrower, property taxes are an ongoing obligation. Budget for annual increases and monitor reassessment notices carefully.
Oil & Gas Proximity in Weld County
Some Firestone properties are near active oil and gas operations. While this doesn't disqualify you from a reverse mortgage, it can affect appraisal values and homeowners insurance costs. Properties near active wells may require additional review during the appraisal process. Bobby works with appraisers experienced in Weld County dynamics.
Hail & Severe Weather Exposure
Firestone sits in Colorado's Front Range hail belt. Severe hailstorms can cause roof damage, trigger insurance claims, and increase premiums. Your reverse mortgage requires continuous homeowners insurance at replacement cost. Budget for potential premium increases of 8–15% following claim events and ensure your roof is in good condition before appraisal.
HOA Special Assessments in Newer Communities
Firestone's newer planned communities may face special assessments as original infrastructure ages — pools, parks, roads, and common areas that were built by developers now require maintenance funded by homeowners. These one-time fees can range from $500 to $5,000+ and are an obligation that reverse mortgage borrowers must plan for.
How Firestone Seniors Use Reverse Mortgage Equity
Social Security Supplement for Single-Income Households
Many Firestone seniors — particularly widows and widowers — live on Social Security alone. A HECM line of credit provides tax-free monthly draws that bridge the gap between Social Security income and actual living costs in Weld County.
HECM for Purchase Downsizing
Firestone's range of neighborhoods makes in-town downsizing practical. Seniors in larger St.
Newer Home Aging-in-Place Modifications
Firestone's newer housing stock already has wider hallways and open floor plans, but often lacks specific accessibility features like grab bars, walk-in showers, and zero-step entries. HECM funds cover these targeted modifications — typically $15K–$35K — that let seniors stay in their well-maintained homes rather than moving to assisted living at $5,000–$7,000/month.
Early Retirement Bridge Strategy
Firestone's affordable cost of living and newer homes attract early retirees from Denver and Boulder County. A HECM established at 62 provides a growing line of credit that bridges the gap between early retirement and age 70 when Social Security benefits are maximized.
Firestone Reverse Mortgage Mistakes to Avoid
Assuming newer Firestone homes don't have enough equity
Firestone has appreciated significantly over the past decade. Homeowners who purchased a $320K home in 2015 may now own a $480K+ property with $160K or more in equity. Even with a remaining mortgage, a reverse mortgage can pay it off and provide additional accessible equity. Don't assume you don't qualify — run the numbers.
Not planning for HOA fee increases
Many Firestone neighborhoods — St. Vrain Ranch, Booth Farms, Saddleback — have HOA fees that increase 3–5% annually. Current fees of $50–$200/month will be higher in 10 years. As a reverse mortgage borrower, HOA fees are an ongoing obligation. Factor in fee escalation when planning your long-term budget.
Taking a full lump sum unnecessarily
For Firestone homeowners who don't have an immediate large expense, the line of credit option provides more long-term value than a lump sum. The unused portion of a HECM line of credit grows over time, giving you more accessible funds in the future when medical costs and care needs typically increase.
Not comparing staying vs. downsizing
For Firestone homeowners in larger homes, a standard HECM on your current property may not be the best option. Selling and using HECM for Purchase to buy a smaller, more manageable home in the same town could provide a better financial outcome. Bobby runs both scenarios so you can compare.
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. Firestone sits in Colorado’s Front Range hail corridor — the most active in the country. If your coverage is based on outdated valuations, you may be significantly underinsured.
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.
Firestone Housing Market — What It Means for Reverse Mortgages
Firestone has transformed from a quiet agricultural community into one of Northern Colorado\'s most dynamic growth areas over the past 15 years. With a median home value of approximately $480,000, Firestone offers reverse mortgage borrowers a sweet spot: enough equity to access meaningful HECM benefits, combined with a cost of living that makes those funds stretch further than in Boulder or Denver.
The town\'s growth has been driven by families and retirees seeking affordable alternatives to more expensive Front Range communities. Firestone\'s proximity to Longmont, Frederick, and I-25 provides convenient access to employment, medical facilities, and the broader Denver metro — while maintaining a small-town character with lower taxes and insurance costs than urban alternatives.
For reverse mortgage borrowers, Firestone\'s relatively newer housing stock is an advantage. Homes built in the 2000s and 2010s typically meet FHA property standards with minimal repairs, leading to smoother appraisals and faster closings. The abundance of comparable sales data in Firestone\'s planned communities also produces reliable appraisal values, reducing the risk of unexpected low valuations.
Firestone\'s continued growth trajectory supports property values, which benefits existing homeowners\' equity positions. As new amenities, retail, and services are built to serve the growing population, the town becomes increasingly self-sufficient — reducing the need to travel to Longmont or Denver for daily needs and making aging in place more practical for seniors.
Firestone Reverse Mortgage Questions — Answered
Bobby's Take on Reverse Mortgages in Firestone
Reverse mortgages are the most misunderstood product in the mortgage industry — and arguably the most underutilized. Firestone seniors are sitting on significant home equity. With a median home value of $480,000, the average homeowner over 60 holds equity that could meaningfully change their retirement picture.
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?
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 Firestone 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.
More Ways to Access Your Firestone Equity
Reverse Mortgages in Nearby Communities
Your Firestone 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