Larry McAnarney
815-703-4745

Realtor Reverse Mortgage for Purchase Program

Real Estate Professionals:

A home financing option that can help you sell more homes

The Baby Boom generation represents an important opportunity for real estate professionals to serve a rapidly growing market of people who are motivated to sell their current homes and buy a different one for retirement — one that’s “right-sized,” and may be closer to friends and/or family.

Our Home Equity Conversion Mortgage (HECM) for Purchase home financing solution can make it easier for people age 62 and older to buy a home that better fits their retirement needs and wants.

It can help you attract and capture a brand new — and rapidly growing — market of home buyers.
Get a larger audience for your listings.
More shoppers can become buyers.
Buyers get additional spending power, enabling them to better afford upgrades or a more expensive home.
Gain more leads from satisfied customers.

How it works:

Buyers can purchase a home by combining a one-time investment of their own funds (a down payment of typically about 45% to 62%, depending on borrower age) with loan proceeds from a HECM. (This down payment range assumes closing costs will be financed into the loan.) As with a traditional “forward” mortgage, the home they purchase secures the loan. But unlike a traditional mortgage, monthly mortgage payments are optional while they own and live in the home as their primary residence — making buying a new home even more attractive.

As with any home-secured loan, the borrower must meet their loan obligations, keeping current with property taxes, insurance, maintenance, and any homeowners association fees.

To learn more about how this powerful financing option can be a key ingredient in helping more home shoppers become buyers, or to discuss a marketing strategy for this unique audience, please contact me.

To learn more, contact me today to get your free H4P Buyer’s Guide.

Larry McAnarney
Reverse Mortgage Specialist, NMLS #21059
Call 815-703-4745 | lmcanarney@mutualmortgage.com

Corporate NMLS # 1025894
1 E 22nd St. Ste 401, Lombard, IL 60148

Verified Reviews

(219)

Very Helpful and Efficient Larry McAnarney was very helpful and efficient with us in putting together a refinance of our reverse mortgage. He was easy to work with and made this journey a pleasant and expedient task

Dennis & Gretchen P — Nov 22, 2021

We Enjoyed Working with Larry Larry is very knowledgeable and answered all of our questions and explained very thoroughly how the reverse mortgage program we were interested in worked and he guided us so that the process of applying went very smoothly. Plus, he's just a great guy & we enjoyed working with him. .

David & Abbi W — Mar 10, 2023

Job Well Done I would like to thank Larry McAnarney for a job well done in handling my grandmother’s reverse mortgage. Larry is very professional and knowledgeable of the entire process. If there was information that needed to be explained, confirmed or followed up on, Larry followed up with me in a timely manner. Recognizing that I am my grandmother’s POA, Larry was very patient as he walked me through the process on her behalf. I am at ease in knowing that as my grandmother continues to get older and deal with her various medical conditions, she will not have to worry about the finances. If you are considering a reverse mortgage for you or your loved one, I highly recommend Larry McAnarney. He will guide you through the process with ease.

T J. — Feb 14, 2022