Can I use a reverse mortgage to purchase a home?

Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds to buy a home that better suits their needs and lifestyle. It’s a home financing option that can make it easier for buyers age 62 and older to afford the home they want, while preserving more of their savings.

Verified Reviews

(120)

Larry Was Very Professional Larry was very professional and courteous. Explained everything in layman's terms and always responded quickly to my questions. I highly recommend Larry for Reverse Mortgage services.    

Bill Z — May 11, 2020

Larry is the Reason We Chose to Proceed Larry McAnarney is the reason we chose to proceed with a reverse mortgage. I had spoken to several individuals with other companies, always feeling after lengthy conversations we were being pressured. After Larry took the time and patience to explain the entire process and had the professional ability to access our financial situation, we knew we could trust and rely on his assistance. Our understanding of the process prior to Larry, was uninformed. We were not pressured in any way and truly feel had a reverse mortgage not been a benefit to us, Larry would have advised us to not pursue a reverse mortgage, even if it meant loosing a client. Larry is a kind, caring and ( very very patient) man. Thank you Larry!    

Larry & Joy B — Feb 14, 2020

Navigating Reverse Mortgages Made Easy Navigating the world of reverse mortgages was made easier with the help of Larry McAnarney. Larry answered his phone and returned all phone calls when he was unable to answer the phone. I contacted Larry to enlist his help with my sister and her husband to obtain a Reverse Mortgage. He met with them at their home, patiently answering all their questions as they sought to understand a reverse mortgage and helped them to understand all the necessary documents needed to secure the loan. My brother-in-law is unable to move about without a great deal of assistance and Larry arranged to close the loan at their home. I would recommend Larry to anyone who found themselves in need of a reverse mortgage.    

Margaret C — Dec 13, 2019

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency. RMF is a Licensed Mortgage Banker in the State of New York, but this loan originator and site are not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

© 2020 Reverse Mortgage Funding LLC, 1455 Broad St., 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. Legal approval #L976-Exp042018, Company NMLS ID # 1019941. For licensing information go to www.nmlsconsumeraccess.org/?EntityDetails.aspx/?COMPANY/1019941. For California consumers: For information about our privacy practices, please visit www.reversefunding.com/privacy . Not all products are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval. For more information about Larry McAnarney go to https://local.reversefacts.com/larry-mcanarney-d5f3b06e35a1
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