Reverse Mortgage In Utah
Convert Your Home Equity into Income!
A Reverse Mortgage From UFCU Provides Homeowners With Financial Freedom
If you are 62 years of age or older, a Utah reverse mortgage lets you convert part of the equity in your home into cash without having to sell your property or pay extra monthly payments. With a reverse mortgage from UFCU, you can:
- Generate supplemental income
- Pay off your mortgage
- Pay for healthcare expenses
- Repair or renovate your home
UFCU has the right reverse mortgage for your circumstances, providing you with financial freedom for retirement.
Frequently Asked Questions about Reverse Mortgage in Utah
What is a Reverse Mortgage?
An FHA-insured reverse mortgage is a loan that lets you convert part of your home equity into cash. It is also called a home equity conversion mortgage. This loan is like a home equity loan, where you keep your home title and don't have to make extra monthly repayments.
How Does a Reverse Mortgage in Utah Work?
You can apply for a reverse mortgage in Utah if you want to free up cash and stay in your property for as long as you like.
- You keep 100 percent of any excess equity upon the sale of your property.
- If you pass away, your heir(s) can sell your home and keep 100 percent of any excess equity upon the sale of your property or pay the balance owed to keep the property.
If you have questions about a reverse mortgage in Utah, speak to a specialist.
What are the Requirements for a Utah Reverse Mortgage?
- You must be 62 years of age or older.
- Your home must be your primary residence.
- Your home must adhere to standard FHA appraisal guidelines.
How Simple Is It to Apply for a Reverse Mortgage for Your Utah Property?
Applying for a reverse mortgage in Utah with UFCU is an easy process. You can contact UFCU by phone, visit one of our branches, or apply online.
Reverse Mortgages in Utah?
University Federal Credit Union works with homeowners across Utah who want to benefit from home equity, providing them with financial freedom for retirement. As a trusted credit union since 1956, we can help you convert your home into usable cash.
Want to benefit from a Utah reverse mortgage? Apply online below, call us at (801) 481-8800, or visit us in a branch.