In 2024, there were 140 active reverse mortgage loans in Montrose County, Colorado. The average home value in Montrose County is $484,654.37.

Click here to get a reverse Mortgage Quote in Montrose 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 Montrose County

Montrose County is located in the state of Colorado and is home to a population of approximately 42,000 residents. Known for its stunning natural beauty and outdoor recreational opportunities, Montrose County offers a variety of activities for nature lovers, including hiking, fishing, and skiing. The area is also rich in history, with traces of Native American culture and the legacy of early pioneers evident throughout the county. With an average home value of $484,654.37 and an average property tax of $1,708.56, Montrose County presents an attractive real estate market for both residents and investors. Seniors in Montrose County may find reverse mortgages to be a beneficial financial option, allowing them to tap into the equity of their homes without making monthly mortgage payments. With an average interest rate of 0.048%, seniors can leverage the value of their property to supplement their income during retirement.

Reverse Mortgage Loan Origination in Montrose County

Reverse Mortgage Home Values in Montrose County

Reverse Mortgage Interest Rates Montrose County

There are approximately 140 active reverse mortgage loans in Montrose County. The average interest rate in Montrose County is 7.46% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Montrose County was $433,750.00 in 2024.

Click here to get a Reverse Mortgage Quote in Montrose 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 Montrose County, CO

With the average home value of $433,750.00, 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 Montrose 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 Montrose 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 »