Education
Are you wondering whether to get a reverse mortgage now or wait a few years? I hear that question all the time. In this episode, I break down the real costs and real benefits of acting now versus waiting. I share plain facts, real examples, and practical advice so you can decide with confidence — not guesswork. If you own your Colorado home and want to protect your retirement income, this episode is for you.
What You'll Learn
- How a HECM (FHA-insured reverse mortgage) actually works — the simple facts you need to know.
- Which three factors drive how much you can borrow: home value, age, and interest rates.
- Why waiting might help a little — and why it usually helps less than people think.
- How interest-rate movement (including the 10‑year Treasury) affects your borrowing power.
- Why a reverse mortgage line of credit can grow over time and how that growth helps you later.
- The real cost trade-offs: mortgage payments you keep paying if you wait vs. money you could have now.
- When waiting makes sense (planning to sell soon) and when acting now usually makes sense (locking value, starting line growth, stopping payments).
- How you can refinance a reverse mortgage later if rates fall — and what that process looks like.
- Concrete examples comparing waiting a few years versus acting now, including numbers on mortgage payments, line growth, and lost opportunities.
- Steps to get a clear, personalized answer for your situation and who to call for help in Colorado.
Timing a reverse mortgage matters, but the best choice depends on your goals. In most cases, getting the loan now locks in today’s value and starts line-of-credit growth that can outpace the small gains from aging a year or two. You also stop monthly mortgage payments sooner and build a safety net for unexpected costs. If you plan to sell your home soon, waiting may make sense. Tune in to hear detailed examples, hear my take from 22 years in the business, and get a clear checklist to decide what to do next. After this episode you’ll know the exact questions to ask and whether you should call someone now to run the numbers for your Colorado home.