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

(208)

Larry Always Made Himself Available Larry McAnarney, our loan specialist, helped us navigate the loan process with his guidance and expertise. He provided options and explanations along the way, always with my mom’s best interest in mind. He personally presented our case to the Homeowner’s Association and acted as our liaison with them. Larry always made himself available to us, and communicated in a fast, effective, concise manner. We recommend Larry as a loan specialist because of our positive experience and for his knowledgeable ability and his willingness to serve you.

Victoria P — Jan 4, 2021

Great Service-Detailed Information Larry provided a great service and detailed information .

Terry G — Oct 16, 2023

Larry McAnarney Had a few unforseen problems which Larry quickly took care of in the course of our reverse mortgage application. He was very professional-, knowledgable and helpful., explaining everything clearly.. Always available by phone for any questions we had...Would definitely recommend him as the person to do business with.

Helene M — Dec 18, 2014