Reverse Mortgages

Shopping for a mortgage loan? We'd be thrilled to talk about our mortgage offerings! Give us a call today at 720-598-8300. Ready to get started? Apply Here.

With a reverse mortgage loan (also referred to as a a home equity conversion loan), homeowners of a certain age may use home equity for anything they need without having to sell their homes. Deciding how you would prefer to to receive your funds: by a monthly amount, a line of credit, or a lump sum, you can receive a loan amount determined by your home equity. The loan doesn't have to be repaid until the borrower sells his residence, moves away, or passes away. You or an estate representative has to repay the reverse mortgage funds, interest , and other finance charges at the time your house is sold, or you no longer live in it.

Who is Able to Participate?

The conditions of a reverse mortgage loan typically are being 62 or older, using the home as your primary residence, and having a small remaining mortgage balance or having paid it off.

Reverse mortgages can be advantageous for homeowners who are retired or no longer working but must add to their income. Social Security and Medicare benefits are not affected; and the funds are nontaxable. Reverse Mortgages may have adjustable or fixed rates. Your lending institution will not take away your residence if you outlive your loan nor can you be obligated to sell your home to pay off your loan amount even when the loan balance grows to exceed current property value. Call us at 720-598-8300 to explore your reverse mortgage options.

At Foxfield Financial, we answer questions about reverse mortgages every day. Give us a call at 720-598-8300.

Mortgage Questions?

Do you have a question regarding a mortgage program?

Contact Information
Your Question
By checking the box, you agree that Foxfield Financial may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.