With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed with your loan, so there’s no immediate out-of-pocket cost. The costs are added to the loan amount (“principal”) and paid along with the accrued interest when the loan becomes due. Depending on the loan option you choose, these fees may include an origination fee, closing costs, a mortgage insurance premium (required for HECM loans) and a monthly servicing fee. We will let you know exactly what costs are involved.
Ask us about our Low-Cost Equity Elite pricing option, which eliminates nearly all origination and closing costs.
Very Comfortable with my Decision I was a little nervous when I decided I wanted to look into a reverse mortgage. Had no idea where to begin, so went to a bank and they gave me Larry McAnarney's name. Thank goodness they did! Larry was absolutely wonderful. He was polite, answered all my questions and walked me through the process and was very patient with my questions. I then spoke with a reverse mortgage counselor who was also wonderful. She knew her business, took her time with me, answered all my questions and advised me. I was no longer nervous. I also had a notary who came and closed the reverse mortgage loan and he was very nice, took his time and walked me through the closing. All three people were very knowledgeable about reverse mortgages, both pros and cons, and I felt very comfortable with my final decision to go through the process. The entire process was not uncomfortable for me because all three had taken the time I needed for me to feel comfortable with my decision. I was very happy with the outcome and for the patience of all three individuals. Yes, I would recommend Larry McAnarney to anyone interested in a reverse mortgage.
Diane F — Jul 22, 2014
A Pleasure to Work With Larry was a pleasure to work with. He was very knowledgeable, pleasant, and patient with our endless questions and phone calls. He kept us updated with the next steps both by email and phone as well as providing us with a packet of information which helped us understand the reverse mortgage process. We would certainly recommend him to anyone considering a reverse mortgage
Bud & Betty C — Dec 5, 2018
I Definitely Recommend Larry I had a very good experience working with Larry McAnarney. He was on time returned calls quickly and was very patient answering my questions. If any of my friends have an interest in a reverse mortgage I will definitely recommend him. .
Sherry H — Mar 8, 2019