A Reverse Mortgage Utah (or lifetime mortgage) is a loan available to seniors; release the home equity in the property as one lump sum or multiple payments. Owner makes no payments and all interest is added to the lien on the property.

Deferred payment loans or DPL. The Reverse Mortgage Utah gives you a one-time, lump sum advance. No repayment is required for as long as you live in your home.

Reverse Mortgage Utah must be on the borrower(s) primary residence, that is, where they live most of the year. Most Utah reverse mortgages are taken on single family, one-unit homes. Some programs also accept two-to-four unit buildings that are owner-occupied. Some programs offer reverse mortgages on condominiums and manufactured homes built after June 1976. Mobile homes and cooperatives are generally not eligible for a reverse mortgage.