Are Reverse Mortgages Right For You?

Reverse Mortgages

These loan programs are available to customers over 62 years of age to help improve financial security, quality of life and ease of mortgage payments. The total amount of money you can receive from your house is limited and determined by the age of the youngest borrower or eligible non-borrowing spouse, the value of the house, and the interest rate at the time of closing. 


Money Received is Not Taxable

Because the money received by the borrower is not income, there are no income taxes to pay and the money received can be used for any purpose.

Homeowner Maintains Ownership Of The Home

Since the owner retains all ownership rights, any appreciation in the value of the home belongs to the homeowner. Because the borrower retains ownership, they must comply with the loan terms which include occupying the home as their primary residence, paying taxes and insurance, and maintaining the property.

In many cases, despite the interest being charged on the outstanding balance of a reverse mortgage, the homeowner’s equity in the property actually grows over time. This is possible because interest is only charged on the outstanding balance of the loan, whereas the rate of appreciation of property values operates on the full value of the home.

Customer Love

Matthew French-Holt

March 30, 2023
Peter was extremely helpful and provided a lot of timely information. This wasn't our first mortgage experience yet we learned more while going through the process with Peter's guidance. We were more comfortable and confident in our decisions because of his experience and advice. Additionally, he shared tips for us to keep in mind in the future that will both make things easier and save us money.

Lynn May

March 4, 2023
Peter worked with us to get a mortgage in record time (seriously, less than two weeks) for a purchase we wanted to make that was time sensitive! It was the easiest purchasing process we've ever had with clear directions for what we needed to provide and frequent communication about how things were going. We will never use another mortgage broker.

Tori Moon

August 13, 2022
Peter was excellent to work with. As a first time home buyer, I didn't know what I was getting into, especially in this highly competitive market. He provided tons of support along the way, answered never ending questions and was incredibly patient and encouraging after many failed attempts. Couldn't have asked for a better person to rely on.

Aanchal Tiwari

August 7, 2022
I highly recommend Peter to anyone looking to get a mortgage. He was very on top of everything and quick to respond to all our questions. He provides constant updates throughout the process, which we found very helpful!

Rick Silverman

August 2, 2022
I had a great experience working with Peter and Animas Mountain Mortgage. They were very attentive and responsive to my questions and needs. They kept my thoroughly informed throughout the process and gave me great advise along the way. I would not hesitate to recommend this company to anyone seeking lending services. Thank you Animas Mountain Mortgage!

Jeremy May

May 17, 2022
I would highly recommend working with Peter at Animas Mtn Mortgage. He was very fast and responsive and helped us problem solve some unusual terms. This has been our smoothest purchase yet and I will definitely return for my next loan.

Katie Miller

May 14, 2022
As first time home buyers, we were new to the process, but Peter took the time to answer any questions and I felt like he was always on top of things. I appreciated his prompt communication and help as we navigated through the process and he helped make this first experience a lot less stressful. Peter is professional and personable and we are really happy we got to work with him. Thanks Peter!

Brandon Gottesman

February 23, 2022
Peter helped my family refinance our new house, mere weeks after our initial purchase. We felt we could get a better financing rate than with our first broker, and Peter did not disappoint! He was readily available to answer any questions we had, and he worked diligently to ensure we received the best available interest rate and loan terms. We will happily recommend Peter’s services to anyone looking to secure a home mortgage.

Veronica Lasater

December 23, 2021
Peter is fantastic to work with, and WOW - is he on top of it! Would we work with him again - Absolutely yes! He went above and beyond and we are so grateful for his hard work on our behalf!

sara lynn

December 16, 2021
Peter has been my go to person for financing for several properties in recent years, most recently a refinancing in November 2021. He goes above and beyond to make the process as streamlined and smooth as possible and always offers me good rates. I know that Peter is honest and conscientious, and that is also of great value to me - I never feel the need to shop around because I trust Peter to offer me a competitive rate and to protect my interests..

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