← Reverse mortgages in Colorado
How much can you get from a Cherry Hills Village reverse mortgage? Here the answer starts in a different place than it does anywhere else in Colorado, because the typical home clears the 2026 FHA HECM limit of $1,249,125. Consequently the government-insured loan often leaves value sitting on the table. Instead a proprietary jumbo, which starts at age 55 in Colorado, is usually the program that actually fits.
The Census stops counting home value at $2,000,001, and Cherry Hills Village is one of the rare Colorado towns that sits above the top of the scale. Meanwhile 42.2% of homes here are owned free and clear, against 26.2% across Arapahoe County. So a reverse mortgage in Cherry Hills Village is almost never about payment relief. Rather than that, it is about turning a large asset that is already paid for into a line of credit. It only fits some situations, and I will say so when it does not. See how the Village compares on my Colorado aging-in-place overview.
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On this page
- Local reverse mortgage broker in Cherry Hills Village
- Aging in place in Cherry Hills Village
- What is my Cherry Hills Village 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 Cherry Hills Village
- How much a reverse mortgage costs in Cherry Hills Village
- Appraisals and acreage
- Reverse mortgage FAQs
Reverse Mortgage Specialist in Cherry Hills Village, CO
Who is a local reverse mortgage broker in Cherry Hills Village, CO? Christopher Gibson (NMLS #1910430) is an independent broker with C2 Financial Corporation (NMLS #135622). He helps Cherry Hills Village 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 Cherry Hills Village, 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 2024 5-Year (tables B25032, B25034, B25035, B25077, B25081, B25088, B25103, B19049 and profile DP05); NOAA 1991-2020 Climate Normals; Colorado Division of Property Taxation; Colorado Division of Insurance. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Why a reverse mortgage appeals to Cherry Hills Village homeowners 55+ attempting to age in place
Cherry Hills Village sits at 5,423 feet on six square miles between Denver and the Denver Tech Center, incorporated in 1945 specifically to keep the lots large and the streets rural. Consequently there are no sidewalks through most of it, the High Line Canal runs across it as a bridle and walking trail, and homes generally sit on one to five acres. In short, it is a country town inside a metro area, and that shape is exactly why its lending math is different.
Together, three numbers explain the whole page. 22.7% of residents here are 65 or older, against 15.6% statewide. Meanwhile 42.2% of owner-occupied homes are owned outright, against 26.2% across Arapahoe County. Finally the median house went up in 1978, so more than half the town predates 1980. In other words, older owners, deep equity, and a lot of original systems in big houses.
Cherry Hills Village reverse mortgage facts and figures
Cherry Hills Village values run roughly four times the Arapahoe County norm, which is what pushes most of the town past the federal lending limit. So here are the numbers worth knowing before anything else:
Home values, property tax and housing age: U.S. Census ACS 2024 5-Year. HECM limit: HUD/FHA 2026. Climate: NOAA 1991-2020 normals. Figures change, so ask me for today’s numbers on your home.
What is your Cherry Hills Village 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 Cherry Hills Village 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 Cherry Hills Village with a reverse mortgage: what it really costs
Price and rate are the easy part. These are the numbers that actually decide whether a reverse mortgage in Cherry Hills Village makes sense, and I would rather you see them before we talk about a loan.
Why a reverse mortgage in Cherry Hills Village usually means a jumbo
First, the honest caveat about the headline number. The Census tops out at $2,000,001 for median home value, which means the real median is somewhere above it and nobody publishes how far above. Even so, the top code alone settles the lending question, because the 2026 FHA HECM limit is $1,249,125. Above that line the government-insured loan simply stops counting the extra value.
So the practical answer for most of this town is a proprietary jumbo reverse mortgage. Notably, those programs open at age 55 in Colorado rather than 62, they are privately insured rather than FHA-insured, and they carry no upfront FHA mortgage insurance premium. However, they also price differently and the product menu changes several times a year. For the full side-by-side of HECM, jumbo, HELOC and HEI, see the reverse mortgage comparison table.
What the Colorado senior exemption is actually worth on a house this size
Colorado exempts 50% of the first $200,000 of a home’s actual value for owners 65 and older who have owned and occupied it for ten consecutive years, with no income test. Importantly, that cap does not scale with the house. At the Village’s effective rate the exemption saves roughly $500 a year against a median bill that the Census already reports as $10,001 or more. Consequently it is worth claiming and worth almost nothing as a planning lever.
A reverse mortgage does not disturb it either way, because you keep title. Applications go to the assessor by July 15.
Arapahoe County senior exemption →
Deep equity, and a lot of 1970s house underneath it
Because 42.2% of owner-occupied homes here carry no mortgage at all, the equity question is settled before we start. Meanwhile the median home went up in 1978 and 53.0% of the housing stock predates 1980, against 39.7% across Colorado. So the money is there, and so are original main-floor bathrooms, split-level entries and 1970s electrical panels.
Aging in place on one to five acres is its own budget line. Namely a stair lift, a curbless shower, wider doorways and better lighting run into real money on a house of this size, and groundskeeping does not stop when you turn 80. Rather than guess, score the house first: my free Aging-in-Place Home Scorecard takes about 15 minutes.
Hail, not wildfire, is what moves the insurance bill here
Colorado homeowners insurance averages about $7,014 a year on a standardized policy, roughly 19% above the national $5,874. However, the reason is not the one people expect. Analysis by the Colorado Division of Insurance and the Governor’s office found that in Denver only about 1% of premium cost is attributable to wildfire risk, while hail drives the bulk of it along the urban Front Range.
That matters on a reverse mortgage for one specific reason. Taxes and insurance must stay current for the life of the loan, and on a replacement cost well into seven figures the premium is a large fixed number rather than a rounding error. So build it into the monthly math before you sign, and price a fortified roof while you are at it.
A Level I trauma center and Craig Hospital, both about two miles out
Swedish Medical Center in Englewood is a Level I trauma center, the highest designation, and it sits roughly two miles from most of the Village. Craig Hospital, nationally known for spinal cord and brain injury rehabilitation, is about a mile further on. Comparatively, that is about as good as medical access gets in this cluster. Before you assume, check any hospital’s current star rating on Medicare’s Care Compare.
What care costs at this end of the market
Namely, those are Genworth’s 2024 figures for Colorado and the Denver metro. Notably, families here more often buy care at home than move, and around the clock in-home care at $42 an hour runs past $30,000 a month, which is more than a private nursing room. Consequently the honest planning question is not whether the equity covers care, but for how long. Figures are educational, not a quote.
Where to start locally
The Denver Regional Council of Governments Area Agency on Aging covers Arapahoe County for in-home services, caregiver support and benefits counseling, and Arapahoe County’s senior resources page collects the county programs in one place. Notably, both are free to talk to and neither of them sells anything.
Sources: U.S. Census ACS 2024 5-Year; NOAA 1991-2020 Climate Normals (Denver Centennial Airport and Denver Central Park); Genworth 2024 Cost of Care (Colorado and Denver); Colorado Division of Property Taxation; Arapahoe County Assessor; Colorado Division of Insurance. 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 Cherry Hills Village: HECM vs. jumbo
Because the Census median already reads $2,000,001 and the 2026 FHA HECM limit is $1,249,125, most of this town is jumbo territory rather than HECM territory. Even so, I quote both side by side, since a HECM can still win on a smaller Village property or when the draw needed is modest. For a plain-English rundown see the types of reverse mortgages, or the comparison table.
Buying a home? Consider a HECM for Purchase (H4P)
A HECM for Purchase lets you buy your next home with a reverse mortgage: you put down a portion and finance the rest with no required monthly principal-and-interest payment. In practice the Village version of this is the opposite direction. Namely, selling a large acreage property and buying a single-level home nearby without taking on a new payment, which is a common move once the grounds stop being a pleasure.
How much you can access depends on age, rates, and value. Start your own estimate with the reverse mortgage calculator above.
How the process works, step by step
Consultation, HUD counseling, application, appraisal, closing, with a three-day right to cancel. Typically a reverse mortgage in Cherry Hills Village funds in 30 to 45 days. However, jumbo files run longer than HECM files more often than not, because the appraisal review is stricter and a second appraisal is common above a certain value. Here is how a reverse mortgage works, step by step.
How much a reverse mortgage in Cherry Hills Village costs
On a HECM 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 premium funds the FHA guarantee behind the non-recourse protection. Notably, a proprietary jumbo carries no FHA premium at all, which removes tens of thousands of dollars at closing on a house at this value. Instead the cost shows up in the rate and the principal limit, so the two have to be compared on net proceeds rather than on fees. 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 reverse mortgage in Cherry Hills Village is priced, not fixed. Naturally, a bank sells you one rate sheet, and most banks do not offer a proprietary jumbo at all. Instead I shop the same loan across more than 30 wholesale lenders, which matters far more here than in a HECM town: the jumbo programs differ from each other on age minimums, maximum loan amounts and how they treat acreage. Consequently the spread between the best and worst offer on a $2 million house is measured in six figures. C2 Financial Corporation, NMLS #135622.
What happens to your home and your heirs
You keep the title, and both HECM and the mainstream proprietary jumbo programs are non-recourse, so you and your heirs can never owe more than the home is worth. Afterward, heirs can repay, refinance, or sell and keep the rest. Importantly, Colorado charges no estate or inheritance tax, which at Village values removes a complication that would matter in several other states. Timelines and the 95% rule.
Appraisals, acreage and a reverse mortgage in Cherry Hills Village
First, skip the condo conversation here. Of the Village's 2,155 owner-occupied homes, the Census counts zero in any building over nine units and only 38 attached homes of any kind, so an HOA approval question almost never comes up. Nine homes are manufactured. Practically speaking, this is a town of detached houses on large lots.
Instead the property question here is the appraisal, and on a jumbo file it is the whole ballgame. Estates on one to five acres have few true comparable sales, outbuildings and guest quarters may or may not contribute value, and lenders differ on how much acreage they will count. Consequently a second appraisal above a certain value is common rather than unusual. Property and eligibility rules.
None of that is a reason to hold off. It is a reason to start early and to have the appraisal expectation set before anyone orders one, because a surprise here costs weeks rather than dollars.
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 Arapahoe 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. Consequently, no reverse mortgage in Cherry Hills Village closes without it, and that includes the proprietary jumbo programs.
Reverse mortgage FAQs for Cherry Hills Village homeowners
How much can you get from a Cherry Hills Village reverse mortgage?
Generally it depends on the youngest borrower's age, current rates, and the home's appraised value. However, Cherry Hills Village is the one town in this cluster where the program choice moves the number more than anything else: the Census median already reads $2,000,001 while the 2026 FHA HECM limit stops at $1,249,125, so a HECM alone often leaves value uncounted. Consequently I quote a proprietary jumbo alongside it and compare the two on net proceeds.
Can I get a reverse mortgage in Cherry Hills Village at age 55?
Yes, on a proprietary jumbo. Because those programs are privately insured rather than FHA-insured, Colorado lenders open them at age 55 instead of the 62 the government-insured HECM requires. Notably that is not a technicality here, since most Village homes need a jumbo anyway. So the practical effect is that a Cherry Hills Village owner can often start seven years earlier than a neighbor in a lower-priced town.
Will a reverse mortgage in Cherry Hills Village cost me Colorado's senior property tax exemption?
No. You keep title, so the home stays yours and stays your primary residence, which is what the exemption turns on. Even so, be realistic about the size of it: Colorado exempts 50% of the first $200,000 of actual value, and that cap does not scale, so on a Village home it saves roughly $500 a year against a bill the Census reports as $10,001 or more. Apply through the Arapahoe County Assessor.
Is a jumbo reverse mortgage in Cherry Hills Village non-recourse like a HECM?
Yes on the mainstream programs, and it is the first thing I verify in writing. Non-recourse means neither you nor your heirs can ever owe more than the home is worth when the loan comes due. However, a jumbo is a private contract rather than an FHA-insured one, so the protection comes from the note instead of from HUD. Consequently the language varies by lender and I will not quote a program that does not carry it.
Is HUD counseling required in Cherry Hills Village?
Yes. First, you complete an independent session with a HUD-approved counselor before closing, and the proprietary jumbo programs require it too, not only the HECM. Typically it is low-cost or free. HUD publishes the approved counselors serving Arapahoe County, so scheduling never has to stall the file.
Have a question about a reverse mortgage in Cherry Hills Village? Call or text me at 720-449-6622. No pressure, just straight answers.
Cherry Hills Village neighborhoods and nearby areas I serve
I work with homeowners across the city and greater Arapahoe County. That includes Old Cherry Hills, Buell Mansion, Cherry Hills Farm, Cherry Hills Park, Cherryridge, Devonshire, Glenmoor, Charlou, and Covington. Core ZIP codes include 80113, 80111, 80110, 80121.
In addition, I also help owners in nearby communities such as Greenwood Village, Englewood, Glendale, Littleton, Centennial, and Denver, and across Arapahoe 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 the Denver Regional Council of Governments Area Agency on Aging, and Arapahoe County's senior resources can help you plan, and my free Aging-in-Place Home Scorecard lets you score any Cherry Hills Village 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 ScorecardReverse mortgages in nearby communities
About 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 Cherry Hills Village 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).