Serving Colorado Springs, CO
Reverse Mortgages in Colorado Springs
HECM Education for Colorado Springs Homeowners
Why Colorado Springs homeowners are exploring reverse mortgages
A military pension from Fort Carson or Peterson pays the same whether you're 62 or 82. TRICARE covers most healthcare. On paper, Colorado Springs military retirees have one of the most predictable retirement income structures in the country. So why do they use HECM at such high rates?
Because predictable doesn't mean sufficient. The pension COLA doesn't keep up with Colorado Springs' rising property taxes, which have climbed sharply as assessed values doubled. TRICARE doesn't cover everything — dental implants, hearing aids, long-term care. And the home you bought near Fort Carson for $220,000 in 2012 is worth $430,000 now, but that equity does nothing for you month to month unless you access it.
HECM is the tool that fills the gap between a military pension and what Colorado Springs actually costs in 2026. No monthly payments. No effect on your VA disability pay or TRICARE. Just a line of credit backed by the equity you've built.
Colorado Springs housing snapshot
$430,000
Median home value
85,000+
Population 65+
$1,249,125
2026 FHA lending limit
Neighborhood & community values
What makes Colorado Springs unique for reverse mortgages
Five installations, thousands of military retirees
Fort Carson, Peterson SFB, Schriever SFB, NORAD, and the Air Force Academy make Colorado Springs one of the most concentrated military retirement markets in the country. HECM sits alongside a military pension and TRICARE and won't touch your VA disability pay. If you receive a need-based VA pension, we'll just make sure how you take the funds keeps you within its limits. Read about veterans and HECM →
TRICARE gaps covered from equity
TRICARE handles most medical costs, but dental work, hearing aids, vision care, and long-term care expenses add up. A HECM line of credit can serve as a dedicated healthcare fund that grows over time — covering what TRICARE doesn't without drawing down TSP or other savings.
Property tax reassessments hit hard here
El Paso County property tax assessments have surged as home values climbed. A home that was assessed at $200,000 a few years ago may now be assessed at $380,000+. That's a significant annual increase on a fixed income. HECM proceeds can absorb rising tax bills without forcing budget cuts elsewhere.
Woodland Park and Monument qualify too
The Colorado Springs HECM market extends well beyond city limits. Mountain homes in Woodland Park, larger-lot properties in Black Forest, and growing communities like Monument all qualify — with values in the $470,000-$550,000 range generating meaningful proceeds.
How much can Colorado Springs homeowners get?
Based on a median home value of $430,000 in the Colorado Springs area, a typical HECM borrower at current rates might access, after typical closing costs:
Age 65
30-38%
of home value
Age 75
40-48%
of home value
Age 85
50-59%
of home value
These are approximate net ranges after typical closing costs (upfront FHA mortgage insurance, origination, and third-party fees), based on typical expected rates. Your actual amount depends on age, home value, and current rates. Use our free calculator for a personalized estimate or see full amount tables.
Reverse mortgage rates and lenders in Colorado Springs
Here's something most Colorado Springs homeowners don't realize: reverse mortgage rates aren't local. A HECM rate is set by a national index plus the lender's margin — the same whether your home is in Colorado Springs or anywhere else in Colorado. What changes by location is your home's value, which affects how much you can borrow, not the rate you pay. See how reverse mortgage rates work for today's picture.
You also don't need a big-bank branch in Colorado Springs to get a HECM. I'm JP Dauber, a licensed HECM specialist (NMLS# 386298) working with Colorado Springs homeowners directly — by phone, video, and email, on your schedule. No storefront, no pressure. More about how I work, or reach out for a Colorado Springs estimate.