A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of the equity in their home into income-tax-free funds. (Not tax advice, consult a tax professional.) There are different loan products to choose from that offer you options on what interest rate you are charged, how much money you can access, and how you receive your payments. Unlike a regular “forward” mortgage or traditional home equity loan or home equity line of credit, there are no monthly principal and interest payments as long as at least one of the borrowers lives in the home as their primary residence. As with any mortgage, in order for the loan to remain in good standing, the borrower must also keep up with property-related taxes, insurance and upkeep.
A True Advocate I just completed the Reverse Mortgage Process with Larry McAnarney. Throughout this process, Larry kept me informed, answered my questions promptly and conducted himself with the highest degree of integrity. It means so much to me to have a true advocate throughout this process; a truly important transaction for me. I would highly recommend Larry to anyone securing a reverse mortgage.
Susan W — Apr 6, 2022
Larry is the Best Lender Larry McAnarney is the best lender I have worked with in a very long time. I am a realtor and was in escrow with a lender that kept making errors. I found Larry and he got everything done, explained the details, and was on top of everything. He anticipated every need before it came up. I think what he provides in the stressful home purchase process is peace of mind.
Bonnie B — Feb 6, 2021
Easy Process and Friendly Service Larry was great to work with. He guided me through the process and was very specific about the information I needed to provide so that I was prepared each time we met. He came to my home for all of our meetings and that was very convenient for me. Larry was aware that I needed to get my loan closed as soon as possible and he made sure the underwriters were aware of that. When it was time for me to close, I asked Larry to be there since I trusted him and wanted his support. He was there as promised. Closing was easy and straighforward and everything went the way I expected. I am very pleased with Larry and would recommend them highly.
Rhonda T — Oct 19, 2015