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

(119)

Larry is the best hand holder Larry is the best hand holder anyone could ask for, very detailed orientated and worked well with all the other parties behind the scene in our best interest.Larry would always get us back on track when we started to stray during the process and was there at the end to help with the closing.

Phil R — Jan 28, 2020

Larry Takes the Time Necessary Larry takes the time necessary to make sure everyone in both the purchasing and selling groups understand the complete Reverse Mortgage for Purchase program. Larry does not hurry through the answers to questions, but does not waste time either. He will be the one suggested on any future transactions that need his help and assistance.

Ray K — Feb 17, 2020

You Were There for Us My husband and I are so glad we had you help us with our reverse mortgage. We could not have had a more professional nice person take care of our needs. You helped us above and beyond. You were there for us with all our questions and concerns. We appreciated it very much.Thanks again Harlan and Jennie

Harlan & Jennie S — Jun 27, 2016

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

(119)

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: