Utah Reverse Mortgages

Utah FHA Reverse Mortgage Information

Reverse mortgages have been in the news lately – and as more people are approaching retirement age, often times seniors are wondering if a reverse mortgage is right for their situation. One popular reverse mortgage program for seniors is the FHA HECM reverse mortgage program – and it is available for seniors in Utah as well as across the US. Seniors who live in Utah and currently have a FHA reverse mortgage say they like their reverse mortgage because it allows them to have easy access to tax free retirement money.

Utah FHA Reverse Mortgage Highlights

• Not required to make a mortgage payment for as long as you live in the home
• Interest rates for the FHA HECM reverse mortgage program can be variable or fixed
• Different payment options include lump sum, line of credit or monthly installments

Utah FHA Reverse Mortgage Program Requirements

For a senior to be considered eligible for the Utah FHA reverse mortgage program, they must meet the following criteria: You must agree to keep the home in good repair, have equity in the home, be age 62 or older, attend a reverse mortgage counseling session and plan to occupy the home as your primary residence. Qualifying for the FHA reverse mortgage program is not difficult as long as you meet the above criteria.

Utah FHA Reverse Mortgage Program: The First Step

The first step to find out if the Utah FHA reverse mortgage is right for you is to speak with a loan officer who has experience with Utah FHA reverse mortgages. Call an experienced Utah reverse mortgage loan officer now!