Reverse Mortgages in Denver, CO | HECM

For homeowners 62 and older

Put your home equity to work

A reverse mortgage allows homeowners age 62 and older to convert part of their home equity into cash while continuing to live in and own the home. The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration.

With a reverse mortgage, you are not required to make monthly principal and interest payments. Instead, the loan balance grows over time and generally becomes due when the last borrower sells the home, moves out permanently or passes away. You remain responsible for property taxes, homeowners insurance, any HOA dues and maintaining the home.

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How you can receive funds

Here’s how it can help

Lump sum or line of credit

Funds may be taken as a lump sum, a line of credit you draw from as needed, or a combination, depending on the loan type.

Monthly payments

You may be able to receive fixed monthly payments for a set term or for as long as you live in the home as your primary residence.

Pay off an existing mortgage

A reverse mortgage can be used to pay off an existing mortgage, which may free up monthly cash flow.

How it works with Luna Lending

Tell us your goals

Share what you are looking for and a little about your situation.

We shop multiple lenders

As an independent broker, we compare programs and pricing from multiple wholesale lenders.

Compare your options

We walk you through rates, costs and terms side by side, in plain language.

Close with confidence

We stay in touch from application to closing, with clear updates along the way.

Good to know

Questions we hear often

Counseling required

HECM borrowers must complete counseling with a HUD-approved counselor before applying.

Ongoing obligations

You must keep paying property taxes, homeowners insurance and any HOA dues, and keep the home in good repair. Failing to do so can cause the loan to become due.

Costs and interest

Reverse mortgages include upfront costs, mortgage insurance and interest that is added to the balance over time, which reduces the equity remaining in the home.

Heirs and the home

When the loan becomes due, the home is typically sold or the balance is repaid. Heirs may keep the home by repaying the loan. Talk with your family and a financial advisor.

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Let Luna Lending guide you home

Talk with a local Denver mortgage broker about your options. No pressure, just clear answers.