Iowa Reverse Mortgage Information

Iowa Reverse Mortgage Information

Unlock Your Home's Equity: Iowa Reverse Mortgage Information

Welcome to Mutual of Omaha Reverse Mortgage in Iowa, your trusted resource for comprehensive information on reverse mortgages in the Hawkeye State. If you're a homeowner aged 62 or older in Iowa, including Des Moines, Iowa City, Cedar Rapids, Davenport, or anywhere else in Iowa, discover how you can leverage your home equity to achieve financial security and peace of mind in retirement.

Meet Larry McAnarney: Your Trusted Reverse Mortgage Expert

Larry McAnarney, HECM Loan Specialist

Larry McAnarney

HECM Loan Specialist

NMLS# 21059 | 815-703-4745

Larry has been a distinguished leader in the reverse mortgage industry since 1998, helping homeowners across Iowa unlock the potential of their home equity. As a Certified Senior Advisor (CSA) and member of the National Reverse Mortgage Lenders Association (NRMLA), Larry brings unparalleled expertise and dedication to every client he serves.

Why Choose Larry McAnarney?

Larry's deep knowledge and understanding of reverse mortgages make him a trusted advisor for Iowa homeowners seeking financial flexibility in retirement. Whether you're looking to supplement your retirement income, cover healthcare expenses, or pursue your dream retirement lifestyle, Larry is committed to providing personalized guidance tailored to your unique needs and goals.

Your Path to Financial Freedom Starts Here

Explore our comprehensive resources and Q&A on reverse mortgages in Iowa, provided by Larry and his team of experienced specialists. From informative guides and articles to personalized consultations, we're here to help you make informed decisions about your home equity and secure your financial future.

Get Started Today

Ready to explore the possibilities of a reverse mortgage in Iowa? Contact Larry at 815-703-4745 to schedule a consultation. Take the first step towards securing your financial future with expert guidance and support.

Experience Larry McAnarney's Expertise

Trust Larry to navigate you through the reverse mortgage process with integrity, professionalism, and a commitment to excellence. Benefit from Larry's wealth of experience and discover the benefits of a reverse mortgage tailored to your needs in Iowa today.

Request a Quote

Verified Reviews

(197)

Larry Provided Quick and Accurate Information Larry was great to work with. He kept us informed by telephone and returned our emails promptly. He was considerate and courteous at all times. His experience was greatly appreciated in our complex matter. He was able to provide quick and accurate information resolving the issues. We would be very happy to recommend Larry. We want to thank you again for all your hard work!!!    

Tito & Linda N — May 23, 2017

Reverse Mortgage Made Easy! From the start, Larry McAnarney was supportive, helpful, patient and explained everything in a way I could understand. He was always responsive to my calls and emails, and made sure that the process stayed on track. It was a real pleasure doing business with Larry, and I recommend him highly -- especially for taking the mysteries out of what could be a confusing and complex process, and just putting your mind at ease.

Laura M — Jul 24, 2015

Larry Was Always Available and Patient Larry was always available, patient, knowledgeable, no problem talking to my children and answering their questions, explained and provided me with enough information that made me feel secure in my decision to have him handle my reverse mortgage. .

Susan G — May 11, 2023

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Reverse Mortgage Frequently Asked Questions

Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.

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A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).

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You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…

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Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…

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Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…

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The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…

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A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…

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You have a number of choices for how you receive your funds:

  • Lump sum
  • Monthly…
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A reverse mortgage offers certain advantages:

  • With a traditional home equity loan or home equity line of credit, you…
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The specific amount depends on several factors, including:

  • Your…
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With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…

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Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse…

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Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.

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The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.

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The loan must be paid in full when one of the following occurs:

  •  A “maturity event” —…
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To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:

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Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…

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Below are just a few of the Iowa cities and counties where you can obtain a reverse mortgage.