In 2024, there were 103 active reverse mortgage loans in Teller County, Colorado. The average home value in Teller County is $564,589.76.

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

Teller County is nestled in the scenic state of Colorado and is known for its stunning natural beauty and outdoor recreational opportunities. The county has a population of approximately 25,000 residents and experiences a moderate mountain climate with cool winters and mild summers. Teller County is famous for its proximity to Pikes Peak, a renowned 14,000-foot mountain that offers breathtaking views and challenging hiking trails. Historically, Teller County was a hub for mining in the late 19th century, with gold and silver being the primary resources extracted from the area. Today, the county has evolved into a popular tourist destination, attracting visitors with its charming mountain towns and picturesque landscapes. The average home value in Teller County is $564,589.76, with an average property tax of $1,764.48 and an average interest rate of 0.0449. For seniors looking to tap into their home equity, Teller County offers opportunities for reverse mortgages, allowing individuals aged 62 and older to convert a portion of their home’s value into cash while retaining ownership. Reverse mortgages can provide financial flexibility for seniors to support their retirement goals or cover unexpected expenses.

Reverse Mortgage Loan Origination in Teller County

Reverse Mortgage Home Values in Teller County

Reverse Mortgage Interest Rates Teller County

There are approximately 103 active reverse mortgage loans in Teller County. The average interest rate in Teller County is 7.59% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Teller County was $693,421.05 in 2024.

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

With the average home value of $693,421.05, 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 Teller 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 Teller 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 »