In 2024, there were 127 active reverse mortgage loans in Box Elder County, Utah. The average home value in Box Elder County is $478,473.23.

Click here to get a reverse Mortgage Quote in Box Elder 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 Box Elder County

Box Elder County is a scenic area located in northern Utah, bordering both Idaho and Nevada. Known for its stunning landscapes, including the iconic Great Salt Lake, the county offers a mix of rural charm and outdoor recreational opportunities. With a population of approximately 55,511 residents, the county enjoys a mild climate with hot summers and cold winters, making it a popular destination for outdoor enthusiasts. In terms of real estate, the average home value in Box Elder County is $478,473.23, with an average property tax of $1,982.31. For seniors looking to tap into their home equity, a reverse mortgage may be a viable option. With an average interest rate of 4.52%, seniors in Box Elder County can leverage their home equity through a reverse mortgage to supplement their retirement income or cover unexpected expenses. This financial tool allows seniors to access the equity in their homes without having to sell or move.

Reverse Mortgage Loan Origination in Box Elder County

Reverse Mortgage Home Values in Box Elder County

Reverse Mortgage Interest Rates Box Elder County

There are approximately 127 active reverse mortgage loans in Box Elder County. The average interest rate in Box Elder County is 7.53% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Box Elder County was $486,290.32 in 2024.

Click here to get a Reverse Mortgage Quote in Box Elder 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 Box Elder County, UT

With the average home value of $486,290.32, 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 Box Elder 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 Box Elder 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 »