Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Utah before hiring.
Showing 3 reverse mortgage specialists in Grantsville, UT
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Westgate Mortgage LLC
94 W Main St, Grantsville, UT 84029
4358841400
Citywide Home Loans
822 E Main St suite g, Grantsville, UT 84029
4358509333
Jennifer Huntsman / Loan Officer / PLM / NEXA Mortgage
822 E Main St #1, Grantsville, UT 84029
4358509333
What Does a Reverse Mortgage Specialist in Grantsville Cost?
Typical costs for a reverse mortgage in Utah include an origination fee of up to 2 percent of the home value, a mortgage insurance premium of 2 percent of the appraised value, and third-party fees for appraisal and title work. For a Grantsville home valued at 400,000 dollars, total closing costs often range from 8,000 to 12,000 dollars. These costs can be financed into the loan. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in Grantsville Utah?
You must be at least 62 years old and own your home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards. Utah law also mandates a counseling session with a HUD-approved counselor before you can apply.
Can I use a reverse mortgage to buy a home in Grantsville?
Yes, a reverse mortgage for purchase allows you to buy a new primary residence in Grantsville using loan proceeds to cover part of the purchase price. You must still meet age and counseling requirements, and the home must be your primary residence.
How does a reverse mortgage affect my heirs in Utah?
Heirs can repay the loan by selling the home or using other funds. If the loan balance exceeds the home value, heirs are not required to pay more than 95 percent of the appraised value. Utah law does not impose additional penalties on heirs beyond federal rules.