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 the borrower is 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 a HECM (reverse mortgage) is
- The costs, pros and cons of getting a HECM
- Alternatives to reverse mortgage that help meet your financial goals
- Each participant receives a certificate of completion so that they can move forward in the lending process
This service has an upfront fee of $125. If a household falls below 200% of the federal poverty level, the fee can be financed into the reverse mortgage loan at closing. The counselor will discuss these options with you before scheduling the appointment.
*This service is offered to Larimer and Weld County residents
To get started, contact our reverse mortgage counselor: