Utah Homeowners 62+:
Your Home Can Fund Your Retirement
Utah homeowners trust Justin Bundy more than any other individual reverse mortgage specialist — not a company, not a call center. Just Justin, taking the time to walk you through every step since 2012. Serving all Utah counties with zero pressure.
Got Questions? I've got Answers. Let's Chat!
5 Star Rated HECM Reverse Mortgage Expert Find Out Why From Real Clients
At The Heart Of A Better Retirement
Explore the benefits of a reverse mortgage
Supplementing Retirement Income
Many retirees face fixed incomes that may not cover all their needs. A reverse mortgage offers a steady income stream, lump sum, or line of credit, enhancing their financial security.
No Monthly Mortgage Payments
This reduces monthly expenses, allowing homeowners to allocate their limited income to other needs like healthcare, travel, or daily living costs.
Retain Home Ownership
Unlike selling a home to access its value, reverse mortgages let borrowers remain in a familiar environment, maintaining their lifestyle and independence.
Flexible Disbursement
Homeowners can tailor their reverse mortgage to fit their financial goals, whether it’s for immediate expenses, long-term financial planning, or a safety net for unexpected costs.
How Does a HECM Reverse Mortgage Create a Secure Retirement?
Or
HECM Reverse Mortgage For Refinance
If you love your home and have no desire of leaving a Reverse...
HECM Reverse Mortgage For Purchase
Traditionally Reverse Mortgages were for refinancing homes, but...
HECM to HECM Refinance
For those already enjoying the benefit of a Reverse Mortgage, a...
The HECM Reverse Mortgage Process Is A Snap
A Simple, Streamlined Process with Constant Support
The process is designed to be straightforward and efficient, giving you access to the funds you need without unnecessary delays. Justin is dedicated to staying available and engaged at every stage, answering questions, providing updates, and making sure you feel supported. From the initial consultation to the final disbursement, his communication and guidance help keep the experience smooth and stress-free.
Initial Consultation
The process begins with a meeting to discuss your goals and answer your questions. We explains how a reverse mortgage works and evaluate your situation to determine eligibility.
Evaluation & Approval
Your application is reviewed, and the property undergoes an appraisal. Once approved, you receive a clear outline of the terms and conditions for your reverse mortgage.
Document Collection
Next, you’ll gather the necessary documents, including proof of income, homeowner’s insurance, and property information. These materials help move your application forward.
Disbursement Process
Once everything is finalized, the funds are made available in the format you choose. Options include a lump sum, monthly payments, or a line of credit to suit your needs.
Have a Question? We Have an Answer.
01 - What is a reverse mortgage?
A reverse mortgage is a loan that allows homeowners aged 62 or older to access a portion of their home equity without selling the property. The loan is repaid when the homeowner sells the home, moves out, or passes away.
02 - How do I qualify for a reverse mortgage?
To qualify, you must be at least 62 years old, own your home outright or have substantial equity, and use the home as your primary residence. You’ll also need to meet financial and credit requirements.
03 - Will I lose ownership of my home?
No, you retain ownership of your home. The reverse mortgage is a loan secured by the property, and you must continue to pay property taxes, insurance, and maintain the home.
04 - Do I need to make monthly payments?
No, monthly payments are not required. The loan is repaid when the home is sold or no longer the primary residence of the borrower.
05 - What happens if the loan balance exceeds the home's value?
Reverse mortgages are non-recourse loans, meaning you or your heirs will never owe more than the home’s appraised value at the time of repayment.
06 - Can I still leave my home to my heirs?
Yes, your heirs can inherit the home. They can choose to repay the loan and keep the property or sell it to pay off the balance.
07 - How is the amount I can borrow determined?
The amount is based on your age, the home’s value, current interest rates, and any existing mortgage balance. Older borrowers and homes with higher equity typically qualify for more.
08 - Are reverse mortgage funds taxable?
No, the funds are considered loan proceeds, so they are tax-free. However, it’s always a good idea to consult a tax professional for advice.
09 - What are the costs associated with a reverse mortgage?
Costs are typical to what you would expect with any mortgage transaction and may include an origination fee, appraisal fee, title and escrow fees, and standard closing costs. There is also an FHA mortgage insurance premium which is unique to reverse mortgages. Most costs can be rolled into the loan with little to no out-of-pocket expense. Justin will walk you through everything transparently during your free consultation.
10 - Can I qualify if I still have a mortgage?
Yes, but the existing mortgage must be paid off using proceeds from the reverse mortgage. The remaining funds will be available for your use.
