In 2024, there were 91 active reverse mortgage loans in Wasatch County, Utah. The average home value in Wasatch County is $615,200.96.

Click here to get a reverse Mortgage Quote in Wasatch County, Utah

To avoid scams, make sure you are working with a licensed lender in Utah. South River Mortgage is a fully licensed lender in Utah. The UT state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Entity License in UT, and our state license identifier is 12662524.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Wasatch County

Wasatch County, located in the state of Utah, is known for its stunning natural beauty and outdoor recreational opportunities. The county is home to the picturesque Wasatch Mountain Range, providing residents and visitors with world-class skiing, hiking, and fishing options. With a population of around 34,726, Wasatch County enjoys a moderate climate with hot summers and cold winters, perfect for enjoying the area’s diverse outdoor attractions. In terms of real estate, the average home value in Wasatch County is $615,200.956, with an average property tax of $3,907.526044 and an average interest rate of 4.21%. For seniors looking to tap into the equity of their homes, a reverse mortgage can be a valuable financial tool. By leveraging the equity they have built up over the years, seniors in Wasatch County can access additional funds for retirement expenses or other financial needs, while still being able to live in their home. Reverse mortgages can provide financial flexibility and security for seniors wishing to make the most of their retirement years in the beautiful surroundings of Wasatch County.

Reverse Mortgage Loan Origination in Wasatch County

Reverse Mortgage Home Values in Wasatch County

Reverse Mortgage Interest Rates Wasatch County

There are approximately 91 active reverse mortgage loans in Wasatch County. The average interest rate in Wasatch County is 7.44% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Wasatch County was $1,223,181.82 in 2024.

Click here to get a Reverse Mortgage Quote in Wasatch County, Utah »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Wasatch County, UT

With the average home value of $1,223,181.82, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Wasatch County

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Wasatch County

You can now purchase a home with a reverse mortgage in {county}, UT. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »