Common Uses

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature^† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example:

Dramatically lower your monthly mortgage payments
Consolidate auto loans and high-interest credit card debt, and reduce your bills
Improve monthly cash flow
Establish a standby line of credit you can tap into as needed
Gain payment flexibility, for more financial control
Fund large purchases like a new automobile
Assist a grandchild headed off to college
Fund major home renovation projects
Buy a home that better suits you

Depending on your needs and plans, you have the choice of taking your funds as:

A line of credit — which offers all the benefits of a traditional Home Equity Line of Credit, but with greater flexibility
Monthly advances, either for a set period of time or as long as you live in your home
A lump sum
Or a combination of these options
Plus, you can change how you receive your remaining funds at any time, if you need or want to

^† With a HECM loan, commonly known as a reverse mortgage, no principal and interest payments are required until you move, pass away or sell the home, as long as you meet your loan obligations. (As with any home-secured loan, you must keep current with property-related taxes, insurance and maintenance for the loan to remain in good standing.) However, you can opt to pay down your principal and interest if and when you choose; no pre-payment penalties apply.

To learn more, contact me today.

Larry McAnarney
HECM Loan Specialist, NMLS #21059
Call 815-703-4745 | lmcanarney@reversefunding.com

Branch NMLS # 1404799
700 Commerce Drive, Suite 5055
Oak Brook, IL 60523

Verified Reviews

(149)

Excellence! I am very impressed with the work everyone involved put into my reverse mortgage. I felt fully informed going through this process and every question was answered completely and quickly. I would recommend Larry and Reverse Mortgage Funding to anyone who asks about getting a reverse mortgage.

Diane S — Aug 29, 2022

Larry was Polite and Knowledgeable Larry was polite and knowledgeable, not pushy. He made sure I understood each step before proceeding to the next. He was always there through the entire process.

Mary Ann B — Apr 24, 2020

Larry Explained Everything Larry did a great job of explaining and guiding us through a reverse mortgage. Much more complicated than we had thought. You need a lot of help and Larry was there to provide it.

Alan & Donna C — Mar 23, 2020

Common Uses

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example:

Verified Reviews

(149)

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature^† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example: