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

(229)

Great Job Explaining the Details Larry, who was the lead on the reverse mortgage program, was great in explaining what all was in involved up front in the process. He also did a great job in explaining the details and meaning of all the steps in terms that I could clearly understand.

John S — Sep 24, 2019

Great Service, Larry Had My Back Larry McAnarney was not only thoroughly knowledgeable and professional, but he was also a kind and patient guide as I navigated the entire Reverse Mortgage process. He always answered all my questions, either via phone, text, or email, promptly. Every step of the way, I felt that Larry had my back. For example, he gave me excellent advice on what to expect during the appraisal and thorough information about the closing process. He also was very clear and concise when it came to explaining the whole structure of my Reverse Mortgage. Throughout the Reverse Mortgage process, I felt that I was dealing with someone of the highest honesty and integrity. I highly recommend Larry McAnarney to anyone seeking to obtain a Reverse Mortgage.

Mary M — Jan 13, 2023

Worked well for us! My wife and I had been discussing reverse mortgage for some time. We had heard all the pros and cons of doing this type of mortgage and the pros won out. We have a house that was built in 1976 and we have been in it since 1991. We have really done no updates on it and it was really needing some remodeling. We were just not able to afford all the stuff that it needed. We could not find anyone in our area that did reverse mortgage so I got on the internet and did some searches. A few days later I got a call from Larry McAnarney. I told Larry that I came from the "old school" and was use to doing business face to face, but since he was in Illinois and we were in Texas it made it a little difficult. However, to make a long story short, Larry explained everything to our satisfaction and we started the process. We had to go to a counseling session so that we understood the process. After that it was pretty simple. Thanks to Larry McAnarney.

Joe G — Apr 14, 2015