What is a reverse mortgage (HECM)?

A Home Equity Conversion Mortgage (HECM) is a federally insured loan that lets Utah homeowners aged 62 and older convert a portion of their home equity into tax-free cash, a line of credit, or monthly payments — without giving up the title to their home and without required monthly principal-and-interest payments.

Who qualifies for a reverse mortgage in Utah?

You must be at least 62, occupy the Utah home as your primary residence, have significant equity (typically 50% or more), stay current on property taxes, homeowners insurance, and HOA dues, and complete HUD-approved counseling.

Do I still own my home with a reverse mortgage?

Yes. The title stays in your name. The lender places a lien — exactly like a traditional mortgage — but you remain the legal owner of the property.

Will my heirs lose the home?

No. When the loan becomes due, your heirs have several options: pay off the balance and keep the home, sell the home and keep any remaining equity, or sign the home back to the lender if the balance exceeds the value. The HECM is non-recourse — heirs are never personally liable beyond the home's value.

How much money can I get from a Utah reverse mortgage?

Your principal limit depends on the age of the youngest borrower, the home's appraised value (or HUD lending limit, whichever is lower), and current expected interest rates. As a rule of thumb, older borrowers with more equity in higher-valued Utah homes qualify for larger payouts.

Costs include an FHA mortgage insurance premium, an origination fee (capped by HUD), third-party closing costs (appraisal, title, recording), and a servicing fee. Most costs can be financed into the loan.

Can I lose my home with a reverse mortgage?

You can only lose the home if you fail to meet the loan obligations: keeping the home as your primary residence, paying property taxes and insurance, and maintaining the property. Tres reviews these obligations in detail during your consultation.

Utah Reverse Mortgage Resource Center | HECM Guide for Homeowners 62+

By Tres Miller · Mortgage Lender · NMLS #217768

Reviewed June 22, 2026 · 25+ years lending in Utah

What this Resource Center covers

This hub is the front door to every reverse-mortgage topic on the site — eligibility, payout structures, costs, heir protections, common myths, Utah-specific rules, and case studies. It is built for two audiences: Utah homeowners 62+ exploring the program for themselves, and adult children helping a parent evaluate the option.

Why people in Utah consider a reverse mortgage

Eliminate a monthly mortgage payment while keeping the home.
Create a tax-free income stream in retirement.
Open a standby line of credit that grows over time.
Buy a different Utah home using HECM for Purchase — common when right-sizing to St. George or Washington County.
Delay drawing Social Security or preserve invested retirement assets.

Reverse mortgage deep-dive articles

Each topic below is its own full article. Start with how-it-works and follow the links from there.

Frequently Asked Questions

Related Resources

Reverse Mortgage Programs

Loan structures and how to apply.

Mortgage Calculator

Run payment and equity scenarios.

Meet Tres Miller

25+ years lending in Utah · NMLS #217768.

Utah Reverse Mortgage Resource Center

What this Resource Center covers

Why people in Utah consider a reverse mortgage

Reverse mortgage deep-dive articles

Frequently Asked Questions

Related Resources

Get straight answers from a real Utah expert.