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

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..

Corey Sanders

November 13, 2021
Excellent and quick service. We couldn't have asked for a better experience. Peter is professional, competent and very customer friendly.

Alan Kasprak

November 8, 2021
Peter has been incredibly helpful and professional throughout the mortgage process. He took the time to explain everything in detail, offered competitive rates, worked quickly, and was always responsive when questions came up. Animas Mountain Mortgage was great to work with and we'd highly recommend them!

Jeremy May

September 28, 2021
I would highly recommend working with Peter at Animas Mtn Mortgage. We 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.

Steven Parker

September 11, 2021
I would highly recommend Animas Mountain Mortgage to anyone in the Durango area looking to purchase a home! Peter was very detail oriented and kept us up to date throughout the process. He really made things easy for us through a complicated process and has superb communication. Thanks again Peter!

John Wells

September 2, 2021
Peter easily handled some difficult issues with our financing. Not only did he offer competitive rates, he was always very responsive and emailed and called back quickly. We highly recommend Animas Mountain Mortgage.


August 27, 2021
Peter did a great job for us, especially since we wanted a quick closing. He smoothed the way for us with the underwriters and was never unaware of where we were in the process or what the next step entailed. We got a good rate and he tailored the process and the loan to our needs and desires. I'd certainly recommend him and would go to him again for future needs.

Ike Fazzio

August 18, 2021
Peter was a consummate professional throughout our home buying process and helped keep all on track and provided updates regularly. We ended up with a great rate and I would highly recommend his services.

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