Reverse Mortgage Utah
Wondering if a Reverse Mortgage is Right for You? We Can Help.
If you are 62 years old or older and have equity in your home, you can take advantage of a Reverse Mortgage!
 |
ELIMINATE MONTHLY MORTGAGE PAYMENTS |
|
STAY IN YOUR HOME FOR THE REST OF YOUR LIFE |
|
ACCESS TAX FREE CASH FOR ANY USE |
How can a Reverse Mortgage Improve Your Retirement?
♦Help With Rising Medical Costs |
♦Fund Long-Term Care |
♦Pay Off Credit Card Debt |
♦Enjoy Monthly Income |
♦Hedge Against Inflation |
♦Line Of Credit For Emergency |
Funds May Be Disbursed in the Following Ways
|
|
Line of Credit |
|
|
A Lump Sum |
|
|
Line of Credit |
|
|
A Lump Sum |
|
|
Fixed Monthly Payments |
|
|
Both Monthly Payments & Line of Credit |
|
|
Fixed Monthly Payments |
|
|
Both Monthly Payments & Line of Credit |
Juli Gleed's Message to You
“I’ve helped many seniors in Utah pay off their existing mortgage and enjoy their retirement to the fullest. You have many choices when considering a reverse mortgage, but I am a hard-working broker with over 35 years of experience. Unlike other lenders, my team and I will handle your loan from start to finish. We do not hand off your loan to some nameless processing center or out-of-state department.”
Call Today
Common Questions
What is a Reverse Mortgage?
Sometimes called a lifetime mortgage, a reverse mortgage allows you to borrow against the equity in your home, which can be paid out in one lump sum, in several payments over time, tenure or line of credit. This amount does not have to be paid back to the lender during your lifetime provided you stay as a resident of your home and it remains your property. That percentage of the value of your home which you have taken out now becomes the property of the lender and will be returned to them after the sale of the home. Your heirs still inherit the property upon your passing, and they have up to one year from that time to either refinance the property or sell it and keep the remainder of the proceeds for themselves.
Do I Qualify for a Reverse Mortgage?
How Much Can I Get from a Reverse Mortgage?
Again, depending on where you live, the amount of equity you can receive from your home with a reverse mortgage will differ. In Utah, there is a maximum limit of $765,000 no matter what the value of your home, but for most homeowners, the actual amount will be considerably less. The actual amount you will get depends on a variety of factors such as the value of your property, the interest rates at that time, your age, and whether you want a lump sum payment.
Reverse mortgages can be a great addition to your retirement income, but being sure you know all the facts before going ahead will ensure peace of mind for both you and your family in the long term.
Are Social Security & Medicare Affected?
A Reverse Mortgage will not affect Social Security or Medicare Benefits. The money you may receive is not taxable either which is a big relief to many seniors here in Utah. To summarize:
- Social Security Not Affected
- Medicare Not Affected
- The Cash You May Receive is Tax Free*
*”not tax advice, consult a tax professional.”
Do I Still Own My Home? Can I Still Pass it On to My Children?
Yes, you still own your home and it can still be passed onto your children. With a Reverse
Summary:
- You Still Own Your Home
- Your Children May Still Inherit Your Home
We’re licensed Mortgage Professionals, and home to so much more than what big banks offer.
Top 3 ways using a Mortgage Broker can Save You Money.
- Get a Lower Interest Rate.
- Access to Hundreds of Better Programs
- We work for you, not the big bank.
For your next home loan, work with someone who works on your behalf. We’re brokers. We’re Better.
Disclaimer: This material is not from HUD or FHA and has not been approved by HUD or a government agency.
