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Cherry Creek Mortgage

in Reverse Mortgages

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Cherry Creek Mortgage

Unaffiliated

in Reverse Mortgages

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Overview

Where does Cherry Creek Mortgage do business?

Cherry Creek Mortgage is based in Greenwood Village, CO. The company was founded in 1986 and offers reverse mortages in state in the USA.

What types of reverse mortgages does Cherry Creek Mortgage offer?

Cherry Creek Mortgage allows borrowers to apply for the following types of reverse mortgage.

Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.

A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.

Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.

What fees does Cherry Creek Mortgage charge for a reverse mortgage?

Cherry Creek Mortgage may charge a loan origination fee.

 

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Other Services by Cherry Creek Mortgage

Feature Breakdown

Reverse Mortgage Payment Options
  • Line of credit
  • Monthly disbursement
Reverse Mortgage Options
  • HECM for home purchase
  • Standard

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