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Reverse Mortgages in Utah: A Comprehensive Guide

If you’re a Utah homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Utah, including key facts, the latest statistics, top lenders, and essential protections.

How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).

Top Reverse Mortgage Lenders in Utah

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 2026, the state’s population is around 3.4 million, with nearly 350,000 homeowners aged 62 and older 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 2025, the average home value in Utah is $577,500, which remains below the federal maximum reverse mortgage lending limit of $1,249,125 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.

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