The Short Answer
A HECM for Purchase lets Utah buyers 62+ purchase a new primary residence with roughly 50–65% down and no monthly mortgage payment as long as they live in the home.
When It Makes Sense
- Right-sizing into a smaller or newer Utah home
- Moving from a high-maintenance property to single-level living
- Relocating to St. George or another Utah retirement market
- Preserving cash and investment accounts
Example
Buy a $600,000 St. George home with roughly $325,000 down. No monthly mortgage payment. You retain ownership.
What You Still Pay
Property taxes, homeowners insurance, HOA. The loan stays in good standing as long as those are current and the home is your primary residence.
Call 435-229-9797 or schedule a 45-minute reverse-mortgage consultation.
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