Reverse Mortgage

Utah Mortgages and the Reverse Mortgage

Reverse-Mortgage-UtahA reverse mortgage is a great way for someone 62 years of age or older to take advantage of the equity in their home with Utah mortgages. A reverse mortgage allows you to borrow against that equity, but instead of continuing to make a payment each month, you will actually receive payment.  Hence the term “Reverse” Mortgage.  This can be a great option if you are retired and it could also help supplement social security. It can be a safe option and offers seniors the chance to live a retirement they have onlydreamed of. Altius Mortgage is here to help you decide if a reverse mortgage is right for you when considering Utah Mortgages. As long as you live in your home you will never be required to repay the loan. You also have the option to decide whether to receive monthly payments, a line of credit, or a lump sum.

For more information about Reverse Mortgages in Utah give us a call at (801) 997-5444 and one of our friendly loan officers would be happy to get your questions answered.

Or you may choose to use the ‘chat option’ in the lower right hand corner of our website. All you need to do is type in your question, and an agent will be with you momentarily. It is that easy and convenient to find a reverse mortgage in Utah.

get pre-qualified now! ›
takes less than 10 minutes!


What are the benefits?

  • Eliminates existing monthly mortgage payments
  • Stay in your home and maintain the title
  • Heirs inherit any remaining equity after paying off the HECM loan
  • Federal Housing Administration insured HECM loan program
  • Loan proceeds are tax-free

Eligibility:

  • Homeowner must be at least 62 years old
  • Must have sufficient equity in your home
  • Single family home, two or four unit owner-occupied home, townhouse, approved condominium or manufactured home.

Funds Available, Payment Options, Interest Rates and Costs:

  • Fixed and variable loan rates may be available for Utah mortgages
  • Most closing costs and fees can be financed as part of the loan, resulting in little or no up front fees.
  • Amount available is based on the age of the youngest borrower, current interest rates, existing Utah mortgages amount, and the lesser of the appraised value of your home, sale price or the maximum lending limit.
  • Receive your funds in a lump sum, a regular monthly payment, a credit line, or a combination of these options.

Utah Mortgages and the Reverse Mortgage

Get Pre-Qualified in under 10 minutes! Fill out the short form below and one of our friendly loan officers will be in touch with you shortly to help you in considering the options for a reverse mortgage in Utah.

Reverse Mortgage Short Application ›