← Reverse mortgages in Colorado
Still carrying a mortgage on your Broomfield home? You can still do a reverse mortgage, and most people who get one do exactly this. It pays off your current loan first, which wipes out that monthly payment, and any equity beyond the payoff is yours to use. On a $664K Broomfield home in Broomfield County, longtime owners usually have more than enough equity to cover it.
A typical Broomfield home is worth around $664K between Denver and Boulder, and for a longtime owner most of that is untouched equity. A reverse mortgage only fits some situations, and I will say so when it does not. See how Broomfield compares on my Colorado aging-in-place overview.
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On this page
- Local reverse mortgage broker in Broomfield
- Aging in place in Broomfield
- What is my Broomfield home worth?
- Reverse mortgage calculator
- Cost of aging in place
- Is a reverse mortgage right for me?
- Learn how reverse mortgages work
- Reverse mortgage options in Broomfield
- How much a reverse mortgage costs in Broomfield
- Condos and HOA
- Reverse mortgage FAQs
Reverse Mortgage Specialist in Broomfield, CO
Who is a local reverse mortgage broker in Broomfield, CO? Christopher Gibson (NMLS #1910430) is an independent broker with C2 Financial Corporation (NMLS #135622). He helps Broomfield homeowners age 55 and older (age 62+ for the government-insured HECM) turn home equity into funds for retirement. Because the funds are loan proceeds rather than income, they are generally not subject to federal income tax.* Call or text 720-449-6622.
Aging in place in Broomfield, at a glance
The honest pros and cons, every measure I track, sorted by which way it cuts. Full detail below.
| Works in your favor | Neutral or mixed | Plan around it |
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Figures: U.S. Census ACS 2020-2024 5-Year; County Health Rankings 2025 (life expectancy, county level); NOAA 1991-2020 Climate Normals; FEMA National Risk Index (per hazard, not the composite); USGS elevation. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Why a reverse mortgage appeals to Broomfield homeowners 55+ attempting to age in place
Broomfield sits on the tech corridor between Denver and Boulder, its own combined city and county, where a house bought decades ago is now worth around $664K. For a longtime owner on a fixed income as taxes climb, that equity is what a reverse mortgage reaches, most often to clear a monthly payment and stay put.
Broomfield’s blend of established and newer master-planned communities has produced healthy equity gains for owners along the Front Range corridor. For 62+ residents in areas like The Broadlands and Broomfield Heights, a reverse mortgage can convert that equity into cash flow while they stay near the city’s extensive open space and trails.
Broomfield reverse mortgage facts and figures
Broomfield values sit in the upper-middle of the Front Range, lifted by the tech corridor, and that equity is what a reverse mortgage puts to work. Here are a few numbers worth knowing:
Home values: Zillow, mid-2026. HECM limit: HUD/FHA 2026. Property tax: U.S. Census. Figures change, so ask me for today’s numbers on your home.
What is your Broomfield home worth today?
Curious what your home could be worth, and how much equity you have to work with? Use my free home-value tool below. Enter your address for an instant Broomfield estimate you can track over time, at no cost and no obligation.
Reverse Mortgage Calculator
Let’s calculate how much equity you can unlock.
A reverse mortgage is a loan. The balance grows over time and is repaid when the last borrower leaves the home. You keep the title, and you remain responsible for property taxes, homeowners insurance, and upkeep.
Aging in place in Broomfield with a reverse mortgage: what it really costs
Broomfield is the only city and county combined in Colorado, which means one government and one tax bill where everywhere else has two. It sits close enough to the Marshall Fire to have watched it, and its housing is newer than most of the metro at a median build year of 2002.
A city and county in one, which simplifies the paperwork
Broomfield consolidated city and county government in 2001. For a reverse mortgage borrower the practical effect is small but real: one assessor, one treasurer, one office to call about your senior exemption instead of coordinating between a city and a county that do not share systems.
What the Marshall Fire changed for you
On December 30, 2021 the Marshall Fire destroyed 1,084 homes in Louisville, Superior and unincorporated Boulder County, with Broomfield seeing evacuations. State regulators estimated insured losses above $2 billion. It was a grassland fire in winter, not a forest fire, which is why it reset how carriers price this whole corridor rather than just the mountains.
Hazard insurance is a property charge you must keep current for the life of a reverse mortgage, and a lapse is a default. Statewide premiums are reported up more than 100% since 2019. Since July 2026 insurers must disclose your wildfire risk score, explain how mitigation changes it, credit both your own and community mitigation, and grant an appeal with a decision inside thirty days.
Newer housing, and metro districts on the newer edges
Only 20.9% of Broomfield housing predates 1980, so FHA appraisal condition findings are less common here than in Arvada or Lakewood. But Broomfield’s newer subdivisions include Title 32 metropolitan districts, which levy their own mill. Colorado has 2,541 of them, and the levy depends on how much bond debt is left rather than on the neighborhood. It counts as a property charge under the federal rules, so it feeds the residual income test. Read your tax statement line by line.
The exemption, and the program that blocks the loan
Colorado exempts 50% of the first $200,000 of actual value at 65 and older with ten consecutive years of ownership and occupancy, deadline July 15. A reverse mortgage does not affect it. The property tax deferral is barred outright for reverse-mortgaged homes, and the Qualified Senior Primary Residence classification for seniors who move ends after tax year 2026.
Colorado senior property tax exemption
Your carrying cost, in one number
The running cost of a mortgage-free Broomfield home is $768 a month. Over a year that is $9,216 in taxes, insurance, utilities and association dues. $4,007 of that is the county. The median Broomfield household aged 65 and over brings in $82,549. 25% of homeowners 65 and over here are already above 30% of income on housing costs alone.
Broomfield sits in the middle of the Front Range on this measure, which is roughly where you would expect given the values and the newer housing. What moves it is the property tax line at $4,007, among the higher medians in the metro. If you are 65 or older and not claiming the senior exemption against that, you are leaving real money on the table.
Altitude, aging, and the loan
Broomfield sits at 5,334 feet. That is normal Front Range elevation. Most people acclimatize to it permanently and never think about it again, but it is still noticeably thinner air than anywhere at sea level.
Ordinary Front Range ground, which is one fewer variable in a city that already simplifies the paperwork. It matters to the loan too. A reverse mortgage runs on continued occupancy, which means an altitude-driven move is a genuine risk to the plan and not just to your health. The mechanics are on my Colorado reverse mortgage page.
One government, one set of paperwork
Broomfield being a combined city and county genuinely simplifies things: one assessor, one treasurer, one place to file the exemption and one office to call when something is wrong on your parcel. That is a small administrative gift and it is worth using. The larger local fact is the Marshall Fire, which happened close enough to reset what carriers charge here. Insurance is a property charge on this loan for as long as you hold it. See my Colorado page for the FAIR Plan limits and the state tax rules.
Three numbers worth knowing before you commit
Federal price parities put the Denver-Aurora-Centennial, CO metro area at 106, with 100 as the national benchmark. Residents reach a median 81.9 years here, well clear of the national 77.1. Worth weighing: the longer you stay, the more an unused credit line is worth. On the weather, snow needs clearing on roughly 15 days a year, and 54 days a year top 90F, on 293 dry days a year. And the figure that ties it together: keeping a paid-off home here runs a median $768 a month, or 11% of what the typical household aged 65 and over brings in.
Where you would actually be taken
Broomfield does not have a designated trauma facility of its own. What it has instead is position. The US-36 corridor puts the north-metro and Boulder hospitals within a short drive one way, and the Denver Level I centers are roughly twenty to twenty-five minutes the other. For a city built where four counties used to meet, that is about as good as the geography gets.
One practical note: Colorado’s trauma designations are reviewed and they do change, as Pueblo found in 2022. If a specific hospital is part of your plan, confirm its current level with the hospital rather than any website.
Sources: Boulder County on the Marshall Fire; U.S. Census ACS 2020-2024 5-Year (B01001, B25034, B25035, B25077, B25103); Colo. Const. art. X §3.5 and C.R.S. §§39-3-203 and 39-3-207; Colorado Division of Property Taxation; SB24-111 and SB26-116 (Qualified Senior Primary Residence classification and its repeal for tax years from 2027); C.R.S. §§39-3.5-103 and 39-3.5-105 and the Colorado Treasury property tax deferral program; SB25-261; 24 CFR §§206.27(b)(3) and 206.205; Colorado Division of Insurance and the Colorado FAIR Plan; HB25-1182. Statewide sources for Colorado’s exemption, deferral, insurance and income tax rules are listed on my Colorado reverse mortgage page. Assessment rates and mill levies are set annually and change. Figures are educational, verify your own before relying on them. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Quick guide: is a reverse mortgage right for me?
First, answer four short questions, and the guide will point you toward the resource that fits your situation. Of course, it is general guidance for learning, not an approval or a quote, and nothing you tap is stored.
Free guide: Your Home Can Help
My complete guide to reverse mortgages for Colorado homeowners, the retirement squeeze, the myths, your options, real client stories, and what it really costs. No email required.
Learn how reverse mortgages work
Want the full details before we talk? These guides cover everything, no local sales pitch, just the facts.
Reverse mortgage options in Broomfield: HECM vs. jumbo
Most homes here are covered by the government-insured HECM, while higher-value homes and many condos fit a proprietary jumbo. For the full side-by-side of HECM, jumbo, HELOC, and HEI, see the reverse mortgage comparison table, or the types of reverse mortgages for a plain-English rundown.
For a full side-by-side of every program and how to choose, see the types of reverse mortgages, or the reverse mortgage comparison table on my main guide.
Buying a home? Consider a HECM for Purchase (H4P)
A HECM for Purchase lets you buy your next home using a reverse mortgage, so you put down a portion and finance the rest with no required monthly principal-and-interest payment. For a Broomfield owner trading a two-story for a single-level home, it is a clean way to move without taking on a new monthly payment.
How much you can access depends on age, rates, and value. Start your own estimate with the reverse mortgage calculator below.
Full detail, including what you would need to bring at each age, is on the HECM for Purchase page.
How the process works, step by step
Consultation, HUD counseling, application, appraisal, closing, with a three-day right to cancel. Most Broomfield County files fund in 30 to 45 days. Here is how a reverse mortgage works, step by step.
How much a reverse mortgage costs in Broomfield
The biggest cost is FHA mortgage insurance: 2% of the home’s value upfront, plus about 0.5% a year on the balance, and that upfront premium funds the FHA guarantee behind the non-recourse protection. On a typical Broomfield home at $664K that is about $13,300 at closing, and most of it rolls into the loan. Every fee, itemized.
The honest trade-offs (the balance grows, you still cover taxes and insurance, and it rewards a longer stay) are the same anywhere. I lay them all out in the pros and cons of a reverse mortgage.
Why work with a mortgage broker, not a bank
A bank sells you one rate sheet. I shop the same loan across more than 30 wholesale lenders, which also opens up the proprietary and jumbo programs a single bank cannot offer, and at Broomfield’s $664K median that is often the difference between a HECM and a materially bigger draw. C2 Financial Corporation, NMLS #135622.
What happens to your home and your heirs
You keep the title, and the loan is non-recourse, so you and your heirs can never owe more than the home is worth. Heirs can repay, refinance, or sell and keep the rest, and Colorado has no estate or inheritance tax to complicate it. Timelines and the 95% rule.
What about condos and HOA approval?
A HECM needs the whole project FHA-approved and plenty of Broomfield buildings are not. Ask me early if you are in a condo, because the project's approval status decides which programs are even on the table. A proprietary loan can often finance one that is not, so check the building before you assume the answer is no. Start with my HOA checklist. Property and eligibility rules.
The HUD counseling requirement, explained
Federal HUD rules require an independent HUD-approved session before closing, usually low-cost or free, and it has to be finished before I can pull an FHA case number. HUD publishes the approved counselors serving Broomfield County, so scheduling never has to stall your file. Find counselors through HUD’s HECM program. Colorado Division of Real Estate publishes consumer guidance. What the session actually covers.
Reverse mortgage FAQs for Broomfield homeowners
Can you get a reverse mortgage in Broomfield if you still have a mortgage?
Yes, and it is common. The reverse mortgage pays off your existing mortgage first, which ends that monthly payment, and whatever equity remains becomes available to you. You just need enough equity to cover the payoff. Here is how qualifying with an existing mortgage works.
Can I get a reverse mortgage on a Broomfield condo?
Often, yes. A standard FHA HECM needs the whole condo project to be FHA-approved, and many buildings are not. When that is the case, a proprietary reverse mortgage can usually finance a non-approved or non-warrantable condo. I check your specific building first.
How much can I borrow in Broomfield?
It depends on the youngest borrower's age, current rates, and your home value. Most Broomfield homes fall within the standard FHA HECM limit, while higher-value homes may also fit a jumbo program that exceeds it.
Is HUD counseling required in Broomfield?
Yes. You must complete a session with a HUD-approved counselor before closing. It is usually low-cost or free. HUD publishes the approved counselors serving Broomfield County, so scheduling never has to slow you down.
Do I still pay property tax with a reverse mortgage in Broomfield?
Yes. With a reverse mortgage you keep title and remain responsible for property taxes, homeowners insurance, and upkeep. Depending on your age and income you may qualify for senior property-tax relief in Colorado (the programs vary by state and by county), and you can use reverse-mortgage funds to help cover those ongoing costs.
Have a question about a reverse mortgage in Broomfield? Call or text me at 720-449-6622. No pressure, just straight answers.
Broomfield neighborhoods and nearby areas I serve
I work with homeowners across the city and greater Broomfield County. That includes Anthem, The Broadlands, McKay Landing, Wildgrass, Broomfield Heights, and Aspen Creek. Core ZIP codes include 80020, 80021, 80023.
In addition, I also help owners in nearby communities such as Westminster, Louisville, Superior, Erie, Thornton, Northglenn, and Arvada, and across Broomfield, Boulder, and Adams counties. See every area I cover on my reverse mortgages across Colorado page. Do not see your area? Reach out and ask.
If aging in place is your goal, local resources like Broomfield Senior Services can help you plan, and my free Aging-in-Place Home Scorecard lets you score any Broomfield home in about 15 minutes to see how ready it is to grow old in.
Wondering whether a home is one you could grow old in? Score any home in about 15 minutes, and see how a reverse mortgage can fund the upgrades.
Use the Aging-in-Place ScorecardAbout Christopher Gibson
Christopher Gibson (NMLS #1910430) is an independent mortgage and reverse mortgage broker with C2 Financial Corporation (NMLS #135622), serving homeowners across the states he is licensed in. Serving Broomfield and nearby communities. Call or text 720-449-6622. More about Christopher.
Read reviews of Reverse Mortgages & Home Loans with Christopher Gibson at C2 Financial
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*This is general information, not tax advice. Reverse mortgage proceeds are loan advances rather than income and are generally not subject to federal income tax. Consult a CPA or tax advisor about your specific situation. Receiving loan proceeds may also affect eligibility for need-based government benefits such as Medicaid or Supplemental Security Income (SSI).