Reverse Mortgage (HECM) Guide for Utah Homeowners 62+
Utah has approximately 155,000 homeowner households led by someone 62 or older. The state's median home value of $480,000 — reflecting rapid appreciation in Salt Lake City, Provo-Orem, and Park City — means Utah seniors have often accumulated meaningful equity. For retirees managing costs in a high-appreciation market, a HECM can convert that equity into tax-free income without requiring a sale.
Source: U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25077); U.S. Census Bureau ACS 2022 1-Year Estimates (Table B25007)
$1,249,125
Utah's median home values are below the 2026 FHA HECM limit of $1,249,125, so most Utah homeowners can access the full available equity through a HECM. Luxury Park City properties occasionally approach the national cap.
Source: HUD Mortgagee Letter 2025-21
Utah Reverse Mortgage Protections
Utah does not require additional reverse mortgage counseling beyond the federal HUD mandate. The Utah Department of Financial Institutions regulates mortgage lenders in the state. Utah's general consumer protection statutes apply to mortgage lending, and the state's Truth in Lending Act enforcement covers HECM disclosures.
Source: Utah Code § 70D; Utah Department of Financial Institutions
HUD-Approved Counseling in Utah
Federal law requires an independent counseling session before any HECM application. Counseling can be done by phone and typically takes 60–90 minutes. Find a HUD-approved counselor in Utah →
Utah HECM FAQ
Are HECMs available in Utah?
Yes. HECMs are available throughout Utah, including Salt Lake City, Provo-Orem, Ogden, and rural communities. FHA-approved lenders licensed in Utah can originate HECM loans on eligible primary residences.
Does Utah require additional reverse mortgage counseling?
No. Utah relies on the federal HUD counseling requirement. Before any HECM application, borrowers must complete a session with a HUD-approved independent counselor. Utah has HUD-approved agencies in the Salt Lake City area and phone counseling is available statewide.
How do Utah property taxes interact with a HECM?
HECM borrowers must keep property taxes current. Utah offers a Property Tax Abatement for low-income seniors 66 and older, and a Circuit Breaker Credit for qualifying senior and disabled homeowners. These programs can reduce annual property tax costs for HECM holders.
What if I have a HELOC on my Utah home?
An existing HELOC must be paid off and the credit line closed at HECM closing, as a HECM must be the sole lien. The HELOC payoff typically comes from HECM proceeds at closing.
Where can I find a HUD-approved HECM counselor in Utah?
Use the HUD HECM Counselor Search (link above) filtered to Utah. HUD-approved agencies are available in Salt Lake City. Phone counseling is widely available for rural Utah residents.