If you're a Colorado homeowner 62 or older, you might be wondering whether a reverse mortgage makes sense here. The short answer is that it can — for the same reasons it can anywhere: accessing equity without selling, eliminating monthly mortgage payments, and creating a growing line of credit. But there are some Colorado-specific factors that make the question worth a closer look.
Rising Home Values Along the Front Range
Many Colorado communities — especially along the Front Range — have seen strong home values over the years. That often means substantial equity for long-term homeowners. With a reverse mortgage, the amount you can access is based on your age, home value, and current interest rates. Higher values can mean more available proceeds or a larger line of credit. Of course, you still need to meet the loan terms (property taxes, insurance, maintenance, primary residence), so it's important to feel confident you can stay in the home. If you'd like to see what you might access, our calculator uses the current HECM limits and can give you a ballpark.
Property Tax Considerations
Colorado has a relatively low effective property tax rate compared to many states, but property taxes still matter for a reverse mortgage. You must stay current on property taxes to keep the loan in good standing. In Colorado, the actual amount varies by county and can change with reassessments. If you're on a fixed income, make sure you've budgeted for taxes (and insurance and maintenance) before committing to a HECM. Our homeowner guide covers ongoing obligations in plain language.
Cost of Living and Retirement in Colorado
Colorado's cost of living — especially in popular Front Range areas — has increased. Some retirees find that a reverse mortgage helps them free up cash flow (by paying off an existing mortgage) or create a reserve (via a line of credit) without having to move or take a part-time job. For others, relocating to a lower-cost area might make more sense. It's a personal decision; the key is understanding your options. We compare staying put with a reverse mortgage to downsizing in another post.
How Colorado Homeowners Are Uniquely Positioned
Colorado homeowners often have a few things going for them: solid equity, a desire to age in place in a state they love, and sometimes a paid-off or low-balance mortgage that can be cleared with a HECM, leaving a sizable line of credit or monthly payments. The 2026 HECM lending limit also helps those with higher-value homes, which is relevant in many Colorado markets. So from a "can I get enough proceeds?" perspective, Colorado residents are often in a good position.
Jerry's Local Expertise and Colorado Licensing
I'm licensed in Colorado (NMLS #994639, Colorado License #100041939) and work with Edge Home Finance Corporation (NMLS #891464). I focus on reverse mortgages and work with Colorado homeowners and their families to explain how a HECM works, what it costs, and whether it fits their goals. If you're in Colorado and want to talk through your situation — whether you're in Denver, Colorado Springs, Fort Collins, or elsewhere — I'm here to help with clear, local context. You can read more on the about page and reach out via the contact page.
Whether a reverse mortgage is a good idea for you in Colorado depends on your age, equity, how long you plan to stay, and your overall financial picture. There's no one-size-fits-all answer. If you'd like to explore your numbers, try our calculator, and when you're ready, schedule a conversation — no pressure, just straightforward information.
Have questions about reverse mortgages or want to see how much you might access? Try our calculator or schedule a conversation with Jerry.