Colorado Reverse Mortgage Solutions
A Colorado reverse mortgage can be thought of as the opposite of a conventional mortgage. This type of financial solution has grown in popularity in the last decade with clients who are age 62 and older, for many good reasons. Our clients enjoy renewed financial freedom with reverse mortgage solutions, and are able to use the funds they receive for anything for which they are needed – whether it’s medical care, a vacation, debt consolidation, family needs, or anything else.
Things to consider regarding a reverse mortgage in Colorado:
You always own your home, and it will pass to your heirs for them to purchase or sell when the time comes.
Eliminate your monthly mortgage payment!
The income you receive is tax-free (consult your tax professional).
Your home can be turned into a home pension!
Quickly receive funds with few conditions; most senior homeowners receive funds just 4-5 days after close of escrow.
Now is the best time to apply for one of our financial solutions! Trinity Mutual offers a variety of reverse mortgage options to lift the burden of financial stress from your retirement years. Apply Now!
Why Choose a Reverse Mortgage in Colorado?
There are many benefits to choosing a reverse mortgage financial solution for seniors, which can help you tap into the accumulated equity in your home and allow you to use funds any way you see fit. Financial planners and homeowners often use these solutions as a tool to supplement retirement income and also to receive higher benefit payments from Social Security.
Am I a Candidate for Reverse Mortgage Financial Solutions?
Most of the interested homeowners who contact us make ideal candidates. If you own your own home in Colorado and use it as your main residence, your home has built up equity, and you are indeed 62 or older with at least fair credit, you may qualify. You may find that a jumbo reverse mortgage, HECM (home equity conversion mortgage) program, or other solution may be just what you need.
Disbursement Options from Your Reverse Mortgage
There are many options available for you to take advantage of when you make your home’s equity pay you:
- Choose to receive funds all in one lump sum, either at close or anytime you choose.
- Receive term payments over a period of time (months or years). For example, if there is $36,000 of funds available, you might elect to have $3,000 deposited into your bank account each month for one year. You might instead choose to have $6,000 deposited for six months, or $1,000 deposited monthly over a period of three years.
- Tenure payments are those that are made over the expected life of the youngest borrower; if that person lives longer than expected, the payments continue for as long as they live.
- Equity Line (Credit Line): This is a popular option because of the interest monies gained on the credit line for the amount of funds on it; this credit line growth can accumulate to be substantial. For example, an annual adjustable product with a 3.625% margin interest rate could have growth of 6.35% per month. A $100,000 credit line with that 6.35% growth would have $6,350 in interest income if the proceeds during the year remain in the credit line.
- Choose a combination of any of the above options, and receive payments on a customized level that matches your personal needs!
Why Choose Trinity?
For more than a decade, we’ve been helping seniors just like you with the unique financial aspects they face. In fact, our founder is a Certified Senior Advisor, and our staff operates by the code that all Senior Advisors abide by. If a reverse mortgage isn’t right for you, we will recommend other solutions that would suit your needs best! We may even recommend that no changes be made to your current loan.
There are a variety of options to lift the burden of financial stress from your retirement years. If you are interested in learning more about a Colorado reverse mortgage, contact Trinity. Don’t wait any longer to discover financial freedom and enjoy your retirement as you deserve. Call us at 1-866-707-4664.
*Trinity Mutual is not a lender, but a mortgage broker who looks for the best lender for your loan.