Provo Utah Reverse Mortgage

Your Provo Reverse Mortgage Guide

Welcome to Provo

If you are a Provo homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Provo, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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Provo Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

Utah Counseling Agencies

Agency Name: NEIGHBORHOOD NONPROFIT HOUSING CORPORATION
Agency ID: 84148
Address: 195 GOLF COURSE RD STE 1
LOGAN, UT 84321-6081
Phone: (435) 753-1112
Website: https://www.nnhc.net

Agency Name: NEIGHBORWORKS MOUNTAIN COUNTRY HOME SOLUTIONS
Agency ID: 81606
Address: 39 W 300 N
PROVO, UT 84601-2841
Phone: (801) 375-5820
Website: https://neighborworksmchs.org/

Agency Name: SUN COUNTRY HOME SOLUTIONS BRANCH
Agency ID: 90254
Address: 382 S. BLUFF ST. #150
SAINT GEORGE, UT 84770-3678
Phone: (435) 218-7189
Website: https://suncountryhomesolutions.org/

Agency Name: UTAH STATE UNIVERSITY – FAMILY LIFE CENTER – HFC
Agency ID: 80561
Address: 750 NORTH 950 EAST
LOGAN, UT 84321
Phone: (435) 797-7225
Website: https://scce.usu.edu/services/housing-financial-counseling

Provo Utah Frequently Asked Questions

How does a Reverse Mortgage work in Provo Utah?

A reverse mortgage in Provo, Utah, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Provo, Utah, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Provo?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Provo?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Provo Utah

Welcome to Provo, Utah! This vibrant city is nestled in the heart of Utah Valley, and is home to more than 115,000 people. Provo has a rich history that dates back to the 1840s when it was founded by a group of Mormon pioneers.

Today, Provo is a bustling city with plenty of activities to keep you entertained. From the Provo Towne Centre Mall to the scenic Provo River Trail, there's something for everyone. The city also boasts several parks, including Provo City Park and Rock Canyon Park, as well as community centers like the Provo Recreation Center.

If you're looking for a place to learn, Provo is home to several universities, including Brigham Young University and Utah Valley University. There are also several public schools located within the city limits, such as Provo High School and Dixon Middle School.

Whether you're looking for a place to shop, explore, or learn, Provo has something for everyone. Come explore the beauty of Provo and see why it's the perfect place to call home.

Things To Do In Provo

Provo, UT Neighborhoods

Downtown, Wyview, Riverside, Franklin, Pleasant View, Carterville, Maeser, Grand View South, Rivergrove, Tree Streets, North Park, Grand View North, Joaquin, Provost, East Bay, Grandview South, Foot Hills, Oak Hills, Sunset, Dixon, Franklin South, Timp, Lake View South, Sherwood Hills, Lakewood, Edgemont, Fort Utah, Lakeview North,

PROVO, UT WEATHER !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src='https://weatherwidget.io/js/widget.min.js';fjs.parentNode.insertBefore(js,fjs);}}(document,'script','weatherwidget-io-js');

Top Sights in Provo, UT


Brigham Young University Museum of Art (MOA)

Bean Life Science Museum

Provo City Center Temple

Provo Utah Temple

Utah Lake State Park

Provo Canyon

Peaks Ice Arena

BYU Museum of Paleontology

500 North

North 100 West Street

North 860 East Street

South 300 West

South 100 West Street

South 1440 East

West 810 South

North 200 East

800 East

West 600 South

Riderwood Way

California Avenue

South 860 West

East 300 South

South Aspen Place

North Seven Peaks Boulevard

Nevada Avenue

1260 West

South 500 West

West 1150 South

Lebon Circle

East 1300 South

East 560 North

Stadium Avenue

Provo Beach

Rock Canyon Park

Rotary Club Bicentennial Park

Paul Ream Wilderness Park

Nielsen's Grove Park

West 1670 North

Kiwanis Park

Mount Timpanogos Park

Pioneer Park

Splash Summit Waterpark

North Park

Provo Pioneer Village

BYU's Museum of Peoples and Cultures

3450 West

Provo Rec Center Outdoor Pool

Canyon View Park

Springville Museum of Art

Museum of Mormon Mexican History

Provo River Parkway

Petroliana Museum At AAA Lakeside Storage

Squaw Peak Overlook

Canyon Glen Park

Provo Daughters of Utah Pioneers Museum

Y Mountain

Scera Park

Hike the Y

Rock Canyon Trail

Nunn's Park

Provo Peak

Squaw Peak Road

Freedom Peak

George Albert Smith Fieldhouse

Castle Amphitheater

Woodbury Art Museum

Buffalo Peak

Bridal Veil Falls

Battle Creek Falls Trail Head

Upper Falls Park

Seven Peaks Water Park Provo

Black Forest Road

Legends Motorcycle Museum

Big Springs Park

Wayne Bartholomew Family Park

South Fork Park

Vineyard Grove Park

Lindon Aquatics Center

Cascade Mountain

Mount Timpanogos

Murdock Canal Trail

Buckley Mountain

Mount Timpanogos Wilderness

Gordos Fun Farm

Timpanogos Glacier

Vineyard Grove Park Splash Pad

Emerald Lake

Vineyard Beach

Stewarts Cascades

Pleasant Grove G

South Timpanogos

Big Spring Hollow

Bird Island

Timpanogos Basin

Street Names in Provo, UT

100 E 1010 N 1060 N 1190 N 1220 W 1280 S
1390 N 160 W 1600 W 1670 W 1680 W 180 E
190 W 1980 West Street 1990 N 200 E 200 W 2090 E
210 North Street 2100 N 2120 N 2190 N 220 E 220 S
2390 W 250 N 250 West Street 2600 W 2660 W 2670 W

Provo, UT Zip Codes

84097, 84601, 84602, 84603, 84604, 84605, 84606, 84663,

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Provo

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Provo. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Provo

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.