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Englewood, Colorado Reverse Mortgage Lenders
Fit Lending is a local Colorado mortgage brokerage firm, founded on the principle of providing a better mortgage experience for clients through transparency, honesty, and integrity. Brian and his team pride themselves on the personalized service and commitment for each and every borrower.
Each of our originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Englewood and Arapahoe County. We can walk you through the questions you’re certain to have, and the process, should you decide to utilize your home’s value to create more cash flow in retirement.
How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in the greater Englewood area.
There are already 5,802 people in or within 10 miles of Englewood who have a reverse mortgage today. In just the last 12 months 1,123 homeowners got a federally-insured reverse mortgage loan.
In 2021, the median home value in Englewood is approximately $536,132. The current maximum lending limit for FHA-insured reverse mortgages in 2022 is $970,800. This means nearly all homes in Englewood* would see most, if not all of their full home value considered in the calculation of the potential maximum reverse mortgage loan benefit. Homes above $970,800 may choose to apply for a private jumbo reverse mortgage for higher-valued properties.
Reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers; based on the home’s appraised value, the age of the youngest borrower or named non-borrowing spouse and the current/starting effective interest rate.
Englewood, like many western settlements, traces its roots to the Gold Rush. Gold was discovered in 1858 along Little Dry Creek. In 1860, Thomas Skerritt (not the actor) built a home in the area, which was called Orchard Place. The city is known for its unique mode of transportation- namely the ‘horse car’ which was dubbed the “Gravity & Bronco Railroad”. Horses pulled the streetcars up the hill, and gravity did the work on the return trip. Electric streetcars replaced horse-drawn cars in the early 1900s. The incorporation of the city was born from the efforts to clean up Orchard Place, by forming a city and a local government. Citizens voted to incorporate Englewood on May 13, 1903. McLellan Reservoir was built to provide local citizens an independent water supply apart from Denver Water.
Englewood’s local attractions include Fiddler’s Green Amphitheatre, Pirates Cove Aquatic Center, and the Gothic Theatre.
Contact your Englewood, Colorado and Arapahoe County reverse mortgage lender today. Brian Hinton and his team at Fit Lending are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage.
Call Brian today at (720) 702-4619 to learn more or complete the steps here to get your free quote.
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