At Kevin A. Guttman at Luxury Reverse Mortgage, we specialize in helping affluent homeowners understand and secure custom reverse mortgage solutions that align with their financial goals and lifestyle. Whether you want to enhance your retirement income, fund home renovations, or create a financial safety net, a proprietary reverse mortgage in Park City can be the ideal solution — tailored for your property and your needs.

Learn more about how this exclusive mortgage option can unlock the true value of your luxury home and provide lasting financial freedom.

What Is a Proprietary Reverse Mortgage?

A proprietary reverse mortgage is a privately funded loan designed for homeowners who have significant equity in high-value homes that exceed the limits of government-backed reverse mortgage programs like the HECM (Home Equity Conversion Mortgage). Often referred to as “jumbo reverse mortgages,” these loans are ideal for affluent homeowners in areas such as Park City, Utah, where property values often surpass federal caps.

Unlike traditional reverse mortgages insured by the Federal Housing Administration (FHA), a proprietary reverse mortgage is offered by private lenders and is not subject to federal insurance limits or regulations. This gives borrowers more flexibility in loan amounts, eligibility criteria, and payout options.

Simply put, a proprietary reverse mortgage lets homeowners aged 62 and older access part of their home equity as cash without selling their home or making monthly payments. The loan is repaid only when the homeowner sells, permanently moves out, or passes away.

For homeowners in Park City, UT where luxury real estate and mountain-view properties are highly valued, this program provides an exceptional opportunity to access larger loan amounts — often up to $4 million or more, depending on the home’s appraised value.

At Kevin A. Guttman at Luxury Reverse Mortgage, we help homeowners understand how proprietary reverse mortgages can be tailored to their unique situations. Whether you have a luxury mountain estate, ski-in/ski-out residence, or vacation property, this type of reverse mortgage ensures that your home’s full value works for you, offering both financial freedom and peace of mind.

Benefits of a Proprietary Reverse Mortgage in Park City

Owning a luxury home in Park City, Utah, comes with significant financial advantages — especially when that home has appreciated in value over time. A proprietary reverse mortgage allows homeowners to leverage that appreciation and enjoy greater financial flexibility during retirement. Here are the key benefits of this specialized loan program:

1. Access to More Home Equity

Traditional HECM reverse mortgages have lending limits, which can restrict how much equity you can access. A proprietary reverse mortgage, on the other hand, is designed for high-value homes and allows you to borrow against a much larger portion of your equity — often up to several million dollars, depending on your property’s market value.

2. No Monthly Mortgage Payments

With a proprietary reverse mortgage, there are no monthly mortgage payments. You remain in your home, and the loan balance is settled only when you sell the property or move out permanently. This feature offers peace of mind and helps preserve cash flow, especially during retirement years.

3. Retain Full Ownership of Your Home

Even though you’re accessing your home’s equity, you remain the legal owner of your Park City, UT property.You remain responsible for property taxes, insurance, and home maintenance, while keeping full ownership and control of your property.

4. Tax-Free Loan Proceeds

Funds received from a proprietary reverse mortgage are not considered taxable income because they are loan advances.This allows you to use the funds freely—for personal expenses, investments, or estate planning—without incurring extra taxes.

5. Flexible Payment Options

Borrowers can choose how they want to receive their funds:

• Lump sum for large, immediate needs
• Line of credit to draw funds as needed
• Combination payout to balance liquidity and security

This flexibility allows you to tailor the loan to your financial goals.

6. Ideal for High-Value Homes in Park City, UT

Park City’s luxury real estate market often features properties well above FHA lending limits. Proprietary reverse mortgages cater to this niche, providing customized loan solutions that reflect the true value of your property. Whether you own a mountain estate or a modern downtown condo, this loan helps you maximize your home’s potential.

7. Financial Freedom Without Selling

Many homeowners want to access their home’s equity but prefer not to sell or downsize. A proprietary reverse mortgage lets you stay in the home you love, maintain your lifestyle, and create a financial cushion — all without the pressure of a monthly payment schedule.

8. Estate Planning and Legacy Benefits

For retirees looking to manage wealth and pass on assets, this mortgage option can play a strategic role. By converting equity into liquid assets, you can support loved ones, fund trusts, or cover medical expenses while retaining homeownership and stability.

At Kevin A. Guttman at Luxury Reverse Mortgage, our goal is to help homeowners in Park City enjoy these benefits with clarity and confidence. With years of expertise in luxury and proprietary reverse mortgage products, Kevin ensures that each client’s financial strategy aligns with their retirement goals and long-term vision.

Eligibility Requirements

Before applying for a Proprietary Reverse Mortgage in Park City, it’s essential to understand the basic qualifications. Since these are privately funded loans designed for high-value homes, the eligibility criteria are slightly different from traditional HECM reverse mortgages. At Kevin A. Guttman at Luxury Reverse Mortgage, we make the process transparent and guide you every step of the way.

Here are the main eligibility requirements for Park City, UT homeowners:

1. Age Requirement

The main borrower must be at least 62 years of age.However, some proprietary reverse mortgage programs may allow borrowers as young as 60, depending on the lender’s policies. The loan is designed to help retirees or near-retirees access equity while continuing to live comfortably in their homes.

2. Homeownership and Equity

You should either own your home outright or have substantial equity accumulated—the greater your equity, the more you may be able to borrow. Typically, homeowners with 50% or more equity in their property qualify for better terms.

3. Property Type

Not all properties qualify, but most primary residences, vacation homes, and condominiums in Park City are eligible. Luxury mountain homes, ski chalets, and modern downtown condos can often qualify, provided they meet the lender’s value and condition standards.

4. Property Value

Since proprietary reverse mortgages target higher-value homes, most lenders require the property to exceed the FHA loan limit (which is around $1,149,825 for 2025). Many proprietary programs can accommodate loan amounts up to $4 million or more, depending on the home’s appraised value.

5. Residency Requirements

The property must be your primary residence, meaning you live in it for most of the year. If you own multiple properties in Park City, UT or surrounding Utah areas, you’ll need to specify which one serves as your primary home for eligibility purposes.

6. Financial Assessment

Although proprietary reverse mortgages are less restrictive than traditional loans, lenders still conduct a financial review. This evaluation ensures you can cover property taxes, homeowner’s insurance, and maintenance expenses, protecting both you and the lender from potential financial risk.

7. Counseling Requirement

Many lenders require borrowers to participate in independent reverse mortgage counseling to ensure full understanding of the terms and responsibilities. This session helps you make an informed, confident decision about whether a proprietary reverse mortgage suits your needs.

8. Location-Specific Considerations

Park City’s luxury housing market and higher-than-average home values make it a prime area for proprietary reverse mortgages. However, lenders also consider market stability, property condition, and local zoning laws before final approval.

At Kevin A. Guttman at Luxury Reverse Mortgage, we take pride in simplifying this process. Kevin provides personalized eligibility assessments, ensuring every Park City homeowner understands their options clearly. From your first consultation to the final approval, you’ll receive expert guidance, transparency, and support tailored to your financial goals.