In 2024, there were 39 active reverse mortgage loans in Summit County, Colorado. The average home value in Summit County is $1,216,137.13.

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

Summit County, located in the state of Colorado, is known for its stunning mountain scenery, outdoor recreation opportunities, and vibrant communities. With a population of approximately 31,000 residents, the county is a popular destination for both tourists and outdoor enthusiasts. The area is famous for its world-class skiing and snowboarding resorts, as well as its numerous hiking and biking trails in the summer months. In terms of real estate, the average home value in Summit County is $1,216,137.128, with an average property tax of $4,099.00359. The average interest rate for mortgages in the area is 0.04349230769. For seniors looking to tap into their home equity, a reverse mortgage may be a viable option. This financial tool allows homeowners aged 62 and older to convert a portion of their home’s equity into cash, providing a valuable source of additional income in retirement. With the high property values in Summit County, a reverse mortgage could be a useful strategy for seniors looking to supplement their retirement income.

Reverse Mortgage Loan Origination in Summit County

Reverse Mortgage Home Values in Summit County

Reverse Mortgage Interest Rates Summit County

There are approximately 39 active reverse mortgage loans in Summit County. The average interest rate in Summit County is 8.96% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Summit County was $1,763,333.33 in 2024.

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

With the average home value of $1,763,333.33, 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 Summit 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 Summit 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 »