Larry McAnarney, HECM Loan Specialist

Larry McAnarney
815-703-4745
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Reverse Mortgage Alternatives

Alternatives to Reverse Mortgages

The reverse mortgage should not be considered a "first choice" for older adults looking for extra cash. There are alternatives. It does have its advantages, but in some cases, the reverse mortgage fees outway the benefits. Below are some reverse mortgage alternatives to consider before gettting this type of loan.

Reverse Mortgage Alternatives

  • Downsizing - Selling the home and moving into smaller quarters
  • The Home Equity Loan or Home Equity Line of Credit (HELOC)
  • Refinancing the home completely
  • Having the children buy the home, and lease back to you
  • Securing money for home repairs from other sources

To discuss these reverse mortgage alternatives with a licenced Reverse Mortgages Consultant (RMC), please Contact Us. The RMC can help you determine if the reverse mortgage alternative is a good financial choice for you.

Verified Reviews

(224)

Listened and Understood My Needs: I had listed my house thinking it was the only recourse left open to me. Then I found Larry McAnarney online and it was the best thing I could have done. He is the representative I worked with, and he is wonderful. He took time to listen and understand my needs and explain how a reverse mortgage works. With Larry's help I received a plan I can live with, stay in my home that I didn't want to leave, and not have to worry about tomorrow. I would recommend Larry McAnarney to friends and family in a heartbeat. Thank you, Larry.

Nancy J — May 7, 2025

Wouldn’t Think Twice I've had several businesses over my lifetime, and a lot of employees, and wouldn't have to think twIce before hiring Larry, great agent. Very helpful      

Kerry D — Dec 7, 2023

Outstanding: Larry was outstanding in helping me navigate the steps for reverse mortage      

Douglas C — Feb 22, 2025

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