Richard Wise is the quality provider of reverse mortgages in Colorado, as well as
providing reputable reverse mortgage lender recommendations to interested
seniors and their families."
This is Colorado Real Estate Reverse Mortgage information at its finest.
- Loan based on Equity Only
- No income qualifying
- The extra monthly income to improve your quality of life
- Hud-Sponsored counseling available
- Easy Online Application
- Approved FHA home equity conversion (HECM) lender
- Loan backed and guaranteed by the Federal Government (HUD)
- Must be at least 62 years old
Benefits of a Reverse Mortgage
- Designed and insured by the US Government
- No credit qualifying
- Allows you to maintain your financial independance
- Cash recieved from the reverse mortgage is TAX FREE!
- Numerous Payment Options:
- Lump Sum
- Line of Credit
- Monthly Payments OR
- All Three
Home Equity Conversion Mortgage
HECM refers to a reverse mortgage insured by HUD and the FHA. All of
the reverse mortgages issued in 2009 and 99% of all volume in 2008 were
HECMs. The FHA’s HECM program contains special requirements like HUD
counseling and a property value ceiling. The HECM property value ceiling
is currently at $625K. This means that if the home is appraised for
more, the loan amount will be based on the $625K value.
In 2010, the FHA added a third HECM product to its program, called the
HECM Saver. Thus FHA’s HECM program now includes the HECM Saver, HECM
Standard, and HECM for Purchase.
Richard Wise Reverse Mortgage
35 acre lots from $37,500 US
Mountain View Estates
Colorado Reverse Mortgages
Denver Reverse Mortgages