Vail Reverse Mortgages
Shop for the best reverse mortgage deals in Vail, Colorado.
Meet Kevin Guttman
Kevin Guttman
Shop for the best reverse mortgage deals in Vail, Colorado.
Kevin Guttman and C2 Financial are a great team to talk to if you’re wondering about whether a reverse mortgage can help you, from Silverthorne to Gypsum and throughout Eagle County. Kevin is a reverse mortgage specialist operating as a broker who has established trusted relationships with financial institutions like Finance of America, Longbridge Financial and Reverse Mortgage Funding.
This allows him to make available to his customers a vast array of products designed to help improve their financial standing. Kevin stands by the golden rule of treating his clients as though they were his own family. Since 2004, Kevin and his team have improved the lives of hundreds of people, many who have become repeat clients and 5-star reviewers! Most of his business is gained by word of mouth — that’s how and why he is so successful.
Kevin has authored and published multiple books about the industry from retirement savings, reverse mortgages, and senior finance. His most popular book, The Swiss Army Knife of Retirement Cash Flow, can be purchased on amazon.com. Kevin has lived in Colorado since 1996, is a Paul Harris Fellow with Rotary, and a volunteer instructor with Junior Achievement. He has been an ordained minister since 1991 and is actively involved in his community. His clients and colleagues will tell you he is honest, trustworthy, and a provider of superior customer experience. Kevin and his wife Sabrena have been married since 1988 and have five adult children as well as several grandchildren
What Is a Reverse Mortgage?
A reverse mortgage is a loan that lets homeowners aged 62 or older turn part of their home equity into cash. Instead of paying a lender every month, you receive funds from the lender.
It can be a strong fit for seniors who own their home and want more financial breathing room in retirement. Rising living costs can stretch a fixed income. A reverse mortgage offers one way to turn built-up equity into usable funds.
For many homeowners, this means they can access money without selling the home they love. That can bring real peace of mind.
Anyone aged 62 or older who meets the program requirements may qualify. Approved borrowers can keep living in their home while using the funds to support the lifestyle they want.
How Do You Receive the Funds?
You can choose the payout style that fits your needs:
- Lump sum: one payment at closing.
- Monthly installments: a steady stream of income.
- Line of credit: draw money only when you need it.
- A combination: mix these options to match your plan.
This flexibility lets you plan around real expenses. You might cover healthcare costs, home repairs, daily living costs, or simply build a safety net.
When Do You Repay a Reverse Mortgage?
As long as you meet the loan terms, you don’t make monthly mortgage payments. The loan generally becomes due when the last surviving borrower:
- Sells the home.
- Moves out permanently.
- Passes away.
You must still pay property taxes and homeowners insurance, and keep the home in good condition. Meeting these terms is what keeps the loan in good standing.
The loan balance generally grows over time as you receive funds and interest is added. That is the opposite of a traditional loan. To see how a standard loan works, read our guide on mortgage amortization.
Why Compare a Reverse Mortgage With a Traditional Loan?
A traditional mortgage requires a monthly payment that covers principal, interest, taxes, and insurance. Our breakdown of the payment on a $400K mortgage shows what those costs can look like.
With a reverse mortgage, you skip the required monthly mortgage payment. That can free up cash flow, especially if your income is fixed.
Comparing both options side by side helps you decide what suits your goals.
Key Benefits of a Reverse Mortgage
- No monthly mortgage payments: You don’t make regular payments to the lender while you meet the loan terms.
- Stay in your home: You keep living in the home you know and love.
- Turn equity into income: Your home equity becomes a source of funds for retirement.
- Flexible payout options: Choose a lump sum, monthly payments, a line of credit, or a combination.
- No need to sell: You can access funds without selling your property.
Is a Reverse Mortgage Right for You?
A reverse mortgage works best when it matches your goals, your finances, and your plans for the home. Every situation is different. That’s why I recommend talking through the pros and cons before you decide.
Ask questions about costs, fees, and how the balance can grow. A clear picture helps you decide with confidence.
About Vail, Colorado
The Vail Ski Resort opened in December 1962 and four years later Vail was incorporated, after being established as a service town offering accommodation for residents and visitors to the mountain.
The ski resort along with Vail Pass were named after Charles Vail, the man who engineered Highway 6, now Interstate 70, through Eagle Valley in 1940.
Within seven years, Vail had grown to become the most popular ski resort in Colorado.
China Bowl, Tea Cup, Siberia and Mongolia Bowls opened in 1988, more than doubling Vail’s skiable terrain, making it the third largest ski field in North America.
Gore Creek runs through the town which is just 4.5 square miles and surrounded by the White River National Forest.
The biggest population growth happened during the 1970s when it grew 467 percent from just 484 to 2,261.
That has since more than doubled to 4,835 in 2020.
The Vail Film Festival is held annually in March with the Vail International Dance Festival and the Bravo! Vail classical music festival proving that culturally, Vail punches well above its weight.
Contact your Vail reverse mortgage lender today.
Kevin and his team at C2 Financial are looking forward to answering all of your enquiries about reverse mortgage enquiries.
Please give Kevin a call at (877) 251-9709 and he will only be too happy to assist you.
*As at September 2022