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

(107)

Personal comfort and re-assurance My representative was Larry McAnarny, who was very concerned that I understood everything necessary to apply for a reverse mortgage. He was there for me the whole step of the way to advise me or help me make a decision. Larry gave me the good and bad specifics and I had to make all the decisions. Regardless of how unimportant I thought my questions were, or how often I contacted,Larry, he assured me that they were valid, and gave me his time to clarify and answer my questions. I am happy and feel very secure and comfortable with the counseling I received I HIGHLY recommend Larry with 10+ rating from me.

Janet H — Jul 26, 2016

Very Happy With My Decision My experience with Larry was just wonderful. He was available for all my questions and had all the answers, I am very happy with both my decision to obtain a reverse mortgage and that Larry was the representative I chose to work with. If anyone would ask me about a reverse mortgage I would not hesitate to give them Larry's name.

Burton Y — Jul 24, 2017

Reverse Mortgage through Larry McAnanery Larry made the whole process so easy and easy to understand. He answered all of our questions and let us know everything that was going on. He was even at our closing I would DEFINITELY recommend him to friends and family

Susan K — Aug 12, 2014

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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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