In 2024, there were 19 active reverse mortgage loans in Gilpin County, Colorado. The average home value in Gilpin County is $704,733.32.

Click here to get a reverse Mortgage Quote in Gilpin County, Colorado

To avoid scams, make sure you are working with a licensed lender in Colorado. South River Mortgage is a fully licensed lender in Colorado. The CO state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Company Registration in CO, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Gilpin County

Gilpin County, located in the state of Colorado, is a picturesque area known for its historic mining towns, charming mountain communities, and stunning natural beauty. While the population of Gilpin County is not large, the county is a popular destination for outdoor enthusiasts seeking hiking, fishing, and other recreational activities in the Rocky Mountains. The area experiences a typical alpine climate with cold winters and mild summers, making it an ideal location for those who enjoy all four seasons. With an average home value of $704,733.32 and an average property tax of $1,485.96, Gilpin County offers a desirable real estate market for homeowners. The county also boasts an average interest rate of 4.27%, making it an attractive option for those considering financing options such as reverse mortgages. Seniors looking to tap into their home equity for additional income may find Gilpin County’s housing market and interest rates favorable for exploring reverse mortgage opportunities.

Reverse Mortgage Loan Origination in Gilpin County

Reverse Mortgage Home Values in Gilpin County

Reverse Mortgage Interest Rates Gilpin County

There are approximately 19 active reverse mortgage loans in Gilpin County. The average interest rate in Gilpin County is 7.18% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Gilpin County was $728,333.33 in 2024.

Click here to get a Reverse Mortgage Quote in Gilpin County, Colorado »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Gilpin County, CO

With the average home value of $728,333.33, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Gilpin County

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Gilpin County

You can now purchase a home with a reverse mortgage in {county}, CO. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »