Top Reverse Mortgage Lenders in Utah
| Lender | Rating | Years in Business | Stars (0-5) | Good Review % | Complaints | BBB Review |
|---|---|---|---|---|---|---|
| Advisors Mortgage Group | A+ | 25 | 2.00/5 | 40.0% | 5 | Source |
| American Advisors Group (AAG) | A | 19 | 4.69/5 | 93.8% | 56 | Source |
| American Pacific Mortgage | F | 28 | 1.75/5 | 35.0% | 13 | Source |
| Ennkar Inc. | A+ | 14 | 4.00/5 | 80.0% | 3 | Source |
| Fairway Independent Mortgage | A+ | 28 | 4.41/5 | 88.2% | 37 | Source |
| Finance of America Reverse LLC (FAR) | A+ | 21 | 1.00/5 | 20.0% | 22 | Source |
| GoodLife Home Loans | A+ | 12 | 4.43/5 | 88.6% | 0 | Source |
| Guild Mortgage Company (Formerly Cherry Creek LLC) | A+ | 64 | 1.36/5 | 27.2% | 39 | Source |
| HighTechLending Inc | A+ | 18 | 4.93/5 | 98.6% | 0 | Source |
| Liberty Home Equity Solutions Inc. | A+ | 21 | 1.00/5 | 20.0% | 3 | Source |
| Longbridge Financial LLC | A+ | 12 | 3.94/5 | 78.8% | 18 | Source |
| Mid America Mortgage Inc. | A+ | 65 | 3.00/5 | 60.0% | 0 | Source |
| Moneyhouse | NR | 27 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | 17 | 4.80/5 | 95.6% | 109 | Source |
| Mutual of Omaha Mortgage | A+ | 11 | 4.61/5 | 92.2% | 45 | Source |
| Open Mortgage LLC | A+ | 21 | 2.60/5 | 52.0% | 1 | Source |
| Plaza Home Mortgage Inc | A+ | 23 | 2.38/5 | 47.6% | 17 | Source |
| Smartfi Home Loans | A+ | 5 | NA | NA | 0 | Source |
| South River Mortgage, LLC | A+ | 5 | 2.62/5 | 52.4% | 15 | Source |
Utah Reverse Mortgage Facts
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Purchase Reverse Mortgages Closed Last 12 Months | Lenders in Utah | Avg. Home Value |
|---|---|---|---|---|---|
| Utah | 34,168 | 993 | 46 | 82 | $518,938 |
HUD Approved Direct Lender
Utah Reverse Mortgage Lending Limits
Utah ranks as the 31st most populous state in the U.S. and is the 13th largest by land area. Though large, Utah has a relatively low population density. As of 2024, the state’s population is around 3.4 million, with nearly 334,997 residents aged 65 and older. Roughly 71% of Utahns are homeowners, making reverse mortgages a viable option for many.
History and Cultural Overview
Utah’s rich history spans thousands of years, beginning with the Native American tribes who first inhabited the area about 10,000-12,000 years ago. The Spanish were among the first European explorers, but the Mormon settlers, led by Brigham Young, formally established the area in 1847. Initially part of Mexico, Utah became a U.S. territory following the Mexican-American War. After multiple statehood attempts, Utah was admitted as the 45th state in 1896, following the public rejection of polygamy by the Mormon Church.
Key Cities and Economy
The state’s largest city, Salt Lake City, has an estimated population of 192,000 with 1.14 million residents in the greater metro area. Founded by Mormon settlers, the city sits near the Great Salt Lake and boasts unique cultural quirks, such as holding the record for the most Jell-O consumption per capita.
After Salt Lake City, West Valley City is Utah’s next largest city, with a population of about 137,764. The state’s natural beauty draws in visitors from all over the world, especially to destinations like Zion National Park, Bryce Canyon, and Park City for skiing. Utah is also home to the prestigious Sundance Film Festival.
Utah’s economy is diverse, with key industries in aerospace and defense, health technology, and information technology. Major employers in the state include Nu Skin Enterprises, SkyWest Airlines, and Smith’s Food and Drug.
Climate and Geography
Due to its diverse geography, Utah experiences varying climate zones. In the summer, the average high temperature in July is 90°F, while winters can dip as low as 26°F in January. The state receives an average of 13 inches of rainfall and 43 inches of snow annually, with the mountain regions seeing significantly more snow, ideal for skiing.
Home Values and Reverse Mortgage Opportunities
As of January 2024, the average home value in Utah is $518,938, which remains below the federal maximum reverse mortgage lending limit of $1,149,825 for Home Equity Conversion Mortgages (HECMs). This allows the majority of Utah homeowners to benefit from a reverse mortgage program. For homes exceeding this value, jumbo reverse mortgage programs are available, providing even greater borrowing power.
Utah Approved Reverse Mortgage Counseling Agencies
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| NEIGHBORHOOD NONPROFIT HOUSING CORPORATION | 84148 | 195 GOLF COURSE RD STE 1 LOGAN, UT 84321-6081 | (435) 753-1112 | http://www.nnhc.net |
| NEIGHBORWORKS MOUNTAIN COUNTRY HOME SOLUTIONS | 81606 | 1031 W CENTER ST STE 302 OREM, UT 84057-5205 | (801) 375-5820 | https://neighborworksmchs.org/ |
| SUN COUNTRY HOME SOLUTIONS BRANCH | 90254 | 382 S. BLUFF ST. #150 SAINT GEORGE, UT 84770-3678 | (435) 218-7189 | https://suncountryhomesolutions.org/ |
| UTAH STATE UNIVERSITY - FAMILY LIFE CENTER - HFC | 80561 | 6435 OLD MAIN HILL LOGAN, UT 84322-0001 | (435) 797-7224 | https://cehs.usu.edu/scce/services/housing-financial-counseling |
Did you know? Utah state does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
Additional Resources:
Reversemortgage.org NRMLA Members in Utah
HUD.GOV Approved Lenders Search
